Tuesday, March 25, 2008

Dishonest reporting of honest facts

"Bear Sterns is up over one hundred percent in today's trading," was reported on the radio today. This may be a truthful statement, but when taken into context is actually DIShonest. That context is the lack of other news about Bear and the lack of other news about the condition of derivatives markets in the US in general. If I only got my news from that radio station, I would have said "Wow, Bear Sterns must be doing great, it's up 100%." Of course, I don't just get my news from that radio station so I would say instead "Bear Sterns is down over $190 from it's high and was almost purchased by a rival for $2/ share. Even the safest areas of the US financial system are vulnerable." - Allan in Blue Island, IL

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