CBS Features Left-Wing Activist Group in Rate Cut Coverage

admin — Thu, 30 Oct 2008 13:37:48 +0000

Jeff Poor

On Oct. 29, the Federal Reserve cut the Fed funds rate target to 1 percent – a level not seen since 2003 – in an effort to make lending flow more freely. But “CBS Evening News” went a different direction with its coverage of the rate cut.

Unlike the other two broadcast network newscasts, which focused their coverage that evening on the financial markets, CBS featured a liberal activist group protesting Fannie Mae, the failed government-sponsored enterprise behind much of the mortgage crisis.

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CBS Features Left-Wing Activist Group in Rate Cut Coverage