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Let's End the Charade: Your World w/Neil Cavuto is Not a Business News Show

Reported by Melanie - November 9, 2007 -

It was a Miserable week on Wall Street, NASDAQ Worst Week Pt. Loss Since 9/11. Quite a headline. As things worsen on Wall Street, Fox's alleged "business news" program is carrying less and less business news though it hasn't announced that it is no longer a business news show. I think it's time to declare an end to the charade.

(11-9-07)

More from the article linked to above: There was another "huge drop Friday after major banks warned of further losses on their debt portfolios;" "Bank of America Corp., JPMorgan Chase & Co. and Wachovia Corp. all said the ongoing credit crisis will cause another round of heavy losses during the fourth quarter." "Wachovia, the nation's fourth-largest bank said it faced a $1.1 billion write down for October alone." Ben Bernanke said yesterday that the dollar's weakness "'may have some effect on import prices' -- which was confirmed Friday. The Commerce Department reported U.S. import prices soared last month at their fastest pace since early last year." "Meanwhile, the University of Michigan's preliminary November consumer sentiment index tumbled for its weakest performance since October 2005." All that, and then there's our $1 trillion dollar credit card bill.

How did Neil Cavuto, the anchor of Fox's alleged "premiere business news" program report this news? For all intents and purposes he didn't. He did report that the Dow was down 223 points and that Wachovia faces a $1.1 billion writedown, but he essentially conflated the two and insinuated that the Dow was down solely because of Wachovia. (A chyron read, "Stocks Swoon as Another Bank Squirms." Stocks swoon? Here's the definition of swoon. It means to faint or to become faint due to overwhelming ecstatic joy; a state of ecstasy or rapture. Again, Fox treats its audience like idiots.)

Seventeen minutes into the show, immediately prior to a break, Cavuto aired this promo:

All right, to New York, New York. The corner of Wall and Broad and a big board hit again. Stocks down 223 points, this time as another bank says we got a credit crunch of our own. This time Wachovia. We'll get into the details. Suffice it to say the Dow suffered its third worst weekly point drop this year. More on what we can expect on Monday with our market pros.

Well guess what. Cavuto never did "get into the details" or talk about "what we can expect on Monday with our market pros." Yes, the "market pros" were on but all they talked about was the big Merck Vioxx settlement. Nothing about what happened today, or this week for that matter.

Folks, this is a show that had time to invite "Judge Hatchett" on to talk about the O.J. Simpson hearing (Cavuto is in Las Vegas), to air a FOX NEWS ALERT about a train derailment in Washington, D.C. in which nobody was hurt, and to hold a discussion about how men won't vote for Hillary Clinton because she reminds them of "nagging wives." So come on. Let's cut the bull. This show isn't about business news and it's past time Fox stopped pretending to its zoned out audience that it is. There are real and important things going on at "the corner of Wall and Broad" and Fox's viewers have a right to know they are not hearing about them. Then again, what an election year strategy this is, huh? The people who plant themselves in front of Fox just might end up walking into the voting booth thinking things are just fine.