Report: US Media Ingored Largest Banking Scam In History For Over A Month

Report: US Media Ingored Largest Banking Scam In History For Over A Month

A scathing report reveals the corporate media outlets that control the news in America gave little to no coverage of the largest banking scandal in history for over a month while focusing instead on trivial stories such as shark sightings.

While some alternative news outlets have been repeatedly hammering away on the seriousness of the $800 trillion dollar LIBOR scandal, which is one of if not the largest fraud in history, our beloved corporate media news outlets have all but completely ignored it.

That’s not just some unfounded speculation either as Media Matters has done the research to back up the claim with facts.

Their scathing report shows that the corporate media either ignored the story altogether or gave it very sparse coverage in sound bites revealing little information for over a month after the story broke.

The story just refused to die and has been making headlines in Europe forcing the US media to at least acknowledge it since.

While the scandal has received some air-time since the first month elapsed the truth be told there is still a media blackout of the story.

Especially given the relativity of the gravity of the scam in relation to very little bit of coverage there has been on TV news stations the including financial news outlets such as Bloomberg and CNBC which I watch constantly.

Even the scant amount of coverage that they have most often implies the scam is the was the work of a few executives a single bank in the UK.

In all fairness, Bloomberg and CNBC did air Secretary of Treasury Tim Giethner’s testimony before congress which reveal the Federal Reserve, numerous US regulatory agencies, and even top White House officials new about the scandal.

However, that was not their own reporting on the subject and even worse Giethner’s revelations were nearly altogether ignored in TV coverage after the fact.

Categories: ECONOMY

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