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Did Shepard Smith Say Too Much About the Sad State of the Economy?

Reported by Melanie - February 5, 2008 -

Remember back in early January when the Dow fell 256 points and Neil Cavuto, Fox's "business news" anchor blew it off? Well, the Dow fell 370.03 points today (the most in 11 months). It closed at 12,265.13 due to some very bad economic numbers ("It couldn't be much worse") pointing directly at a recession. If Cavuto would blow off a 256 point drop on an average day, I anticipated he would use the cover of Super Tuesday to blow off today's (February 5, 2008) 370 point dive.

But wait. Cavuto was preempted by a special edition of "You Decide 2008" hosted by Shepard Smith. So what would Smith do?

Roughly two minutes in, Fox showed a live shot of the "big board," and Smith said,

And that's a live look at the corner of Wall and Broad in lower Manhattan. The Dow Jones Industrial Average took a free fall today. The Dow lost 369 points on the session. The closing bell as just moments ago. The finish on the day, 12,265, a couple thousand points off its high and today many concerns about the United States economy, the continuing mortgage crisis and lending crisis. There are even new concerns today about getting credit cards as it appears now that the numbers of flyers that come in the mail asking you to sign up for a credit card may diminish, which is probably a good idea at your house -- it certainly is at mine. Ah, but the bigger picture is not good at all. Credit tightening continues. Economic concerns broaden, and the Dow took a bath today, off 370 points.

Comment: Geez Louise! For Fox, that's an in depth report. That's like a freakin' documentary; like the condensed version of a four-part series. I think that's more info than Cavuto has relayed in days. Maybe he should stay put over at the Fox "Business" Network and let Smith report the business news. Heck, Fox's audience would still be fed a crumb, but it would be a bigger crumb than Cavuto feeds them. Maybe Smith's brainwashing isn't entirely complete. I don't think you're supposed to say "the bigger picture is not good at all."