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11 Minutes Before Comments Close, Cavuto Tells His Audience That the Fed is Accepting Comments on New Credit Card Rules

Reported by Melanie - August 9, 2008 -

When it comes to Fox "News," priorities like bashing Hillary Clinton or yammering about Rev. Jeremiah Wright or lobbying on behalf of Big Oil or arranging for live coverage of Republicans pulling stunts to allow "us" to drill off-shore, crowds out news about what our government is actually up to and the ways in which we can participate in how it works and what it decides. You know, basic stuff having to do with ah, d-e-m-o-c-r-a-c-y, which Fox claims to hold so dear to its heart.

For example, last Monday (August 4, 2008), at 5:00 p.m. ET was the deadline for the public to comment on new credit card industry rules proposed by the Federal Reserve. The issue generated, "more public comments than any other issue reviewed by the nation's top banking regulator. More than 56,000 submissions from banks, credit unions, credit card users and advocates are being processed."

Per the above article, the Federal Reserve announced tentative new rules on May 2 but it appears that the issue was formally kicked off in May of last year with the release of this Federal Reserve press release.

Anyway, did you know about this? Even with as much news as I watch, listen to and read, I didn't. I didn't, that is, until I heard about it on Fox! Yep, that's right: "Only Minutes Left to Complain About Credit and Debit Card Fees:"

Gripe%20Deadline.png

At 4:48 p.m. on August 4, the last day to "complain" and ah to "whine about it," Neil Cavuto put up a "Griping Deadline" clock and, channeling John McCain's buddy, Phil Nation-of-Whiners Gramm, told the audience they had "minutes" to act: "Alright. Well, the countdown is on now. If you have a gripe with those credit card and debit card fees, consider this your last chance to whine about it. You have less than 11 minutes, and the clock is running."

With that Cavuto introduced Fox's Dagen McDowell who outlined some of the proposed rules in a seconds-long report and yes, Fox gave the address (www.federalreserve.gov) in a chyron. I didn't go to the site that day but who knows how easy it was or wasn't to navigate your way to the proper place to comment, especially given that one had 11 minutes, or more like ten by the time the address was actually shown.

Comment: Was this a generous, selfless public service move? A big fat put down to ungrateful complainers, whiners and gripers -- hey, this is America!? Something designed to drive viewers nuts with frustration because there was, for all intents and purposes, no time to respond? An idiotic "filler" piece Fox never should have aired because it looked stupid bringing it up at such a late date? Smart move -- they're trying to "prove" they cover "news?" Whatever the reason for the segment, all I can say is hey, thanks for nothin' Neil! If you'd told the public about this two months ago the Fed might have received a million responses (wouldn't want that!).