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FOX Business Uses Big 3 Crisis As Wedge Issue

Reported by Ellen - December 4, 2008 -


Fox Business has apparently decided that the automobile manufacturers "bailout issue" is one to use to drive Americans apart. We'll leave aside the fact that the "bailouts" were "rescues" when dealing with Wall Street. And am I the only one who remembers that George Bush and Hank Paulson are Republicans? In his recent column, Fox Business host David Asman pumped in the Buzz Words and Fuzz Words in order to attack two of FOX's fave targets: Democrats and unions.

Too bad facts are in short supply in Asman's article. Regrettably slogans are not.

1. According to legitimate news reports, the Big 3 Automakers are not asking for a Federal subsidy or "bailout/rescue." GM & Chrysler are asking for guaranteed loans. Ford is asking for a line of credit. Mr. Asman turns this into a "socialist" business model.

2. Fox consistently and Mr. Asman specifically blame the troubles on the Unions and "old business models." Hello! Recession? Stock Market tanking? HALF A MILLION NEW unemployment compensation applications a month? People simply aren't buying new cars.

2a. Besides, in both the last contract and currently, the UAW is on record as being willing to work with management to preserve the companies and the jobs they provide.

But since both Ford & GM stock was up over 5.5% Tuesday, somebody liked what they saw.

But not Fox.