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Tidbits from the "Cost of Freedom"

Reported by Melanie - October 28, 2007 -

The "Cost of Freedom" "business" bloc of shows, at the least the two that I watched, were chock full of Fox's version of "business news" yesterday (October 27, 2007). They covered it all -- corporate America is great, Democrats are bad, bankrupties are good, and "some say" that skimpy Halloween costumes promote Devil worship. I saw just about everything I need to know to run my financial affairs next week. I'm ready!

Here's a snipet:

Bulls & Bears

The chyron summarized the topic of the lead segment: "Dems New Tax Plan: Bull Market Killer." Host Brenda Buttner teased it with: "The Dems' new mother of all tax reforms. Is it really the mother of all tax hikes that'll kill our five year bull market?"

Four of the six guests thought any tax hikes would be terrible and regular guest John "Bradshaw" Layfield, the former wrestler, as usual, made the money quote and summarized the discussion: "The reason these guys [Democrats] are in politics is because they can't make it in business."

The second segment was summarized by this chyron: "Big Business to the Rescue." Host Brenda Buttner introduced it with: "Corporate America comes to the rescue, giving millions in aid -- the good news on the disaster you're not hearing from all those who hate that big bad business." That "big bad business" would be Wal-Mart.

While the participants praised corporate America, Fox did too, in the form of chyrons:

Wal-Mart is donating $2 million to relief efforts.

Disney Co. is donating $2 million.

Bank of America is donating $1 million

Wells Fargo is donating $500,000 "to relief efforts."

"U-Haul is providing 30 days free storage to evacuees."

"Most major airlines have waived $100.00 change flight date fee."

"Verizon donating $600,000 and free calling services to evacuees."

Chevron donating $500,000 along with water and meals.

Toys "R" Us is donating $250,000 to "Save the Children."

BP is donating $250,000 to "relief agencies."

Target donating $1 million "to wildfire relief efforts."

Again, the money quote came from Layfield: "These guys, corporate America, of all colors, of all shapes, of all sizes, of all different economic levels, are the most generous people in the world."

Next came Forbes on Fox. Forbes on Fox consists of host David Asman interviewing employees of Forbes magazine and/or Forbes.com.

The first segment was a discussion about whether, as the chyron said, "Wildfire Rescue for GOP & Economy?" Asman introduced the panel with, "Wildfires erupt and President Bush steps up! How his response to the California disaster could keep a Republican in the White House and our economy booming."

Some choice quotes: Rich Karlgaard, an editor of Forbes: The "Republican brand is tarnished" but the angst amongst Republicans is "beginning to turn because you see a turning in the Iraq war, no American deaths last week..."

Victoria Barret: "This is a turning point for the Bush administration. You've not only got his response to the fire and Schwarzenegger's approval of him, all of a sudden, but you've got -- Iraq is turning around. You know, our deficit is shrinking. You don't hear about that a lot, you only hear about it when it goes up. And the economy is healthy despite real problems in the real estate market. So I think he's a comback kid!"

The second segment was about how a 45% increase in bankruptcies this year is good for the economy. Yahoo! Rich Karlgaard pulled through, as usual: When someone like Donald Trump declares bankruptcy, all you do "is initiate a discussion, a negotiation, with the banks. I don't see why individual homeowners can't do the same and the quicker we start this negotiation process and the quicker we work through this problem, the quicker the economy can rebound. We're more than half way through this crisis."

A guy named Neal (he wasn't fully introduced) said, "The quicker we get people to get out of homes they can't afford, the more quickly we'll clear out of this."

Love that compassion, huh?

Then, before getting to the stock picking segment, they did a little diddy about, the "A$$ault on Halloween," and how "some religious groups" say skimpy costumes "promote Devil worship."

So there you have it. Watch Fox "business news" and you'll learn all you need to know to manage your financial affairs.