Courtesy of Pam Martens.
Back on July 3, Matt Taibbi of Rolling Stone wondered aloud on his blog: “Why is Nobody Freaking Out About the Libor Banking Scandal?” Now we have at least a partial answer: two heavily viewed network evening news programs have yet to discover the largest banking scandal in history.
In a blog post at Media Matters for America, Ben Dimiero and Rob Savillo reported the following yesterday:
“Despite the enormous implications of the scandal, ABC’s World News and NBC’s Nightly News both ignored the story in the 16 days after news of the Barclays fine broke, as we documented earlier this month. In the 16 days following the period of our original study, the LIBOR blackout has continued on ABC and NBC’s flagship evening news programs. Those programs have gone more than a month without mentioning the controversy.”
What could possibly explain not one, but two, major network evening news programs blacking out the hottest banking scandal since the failure of Lehman. We did a little more digging here at Wall Street on Parade.
The NBC network is part of NBCUniversal. Stephen B. (Steve) Burke is the CEO of NBCUniversal and an officer of Comcast. Comcast owns 51 percent of NBCUniversal with GE owning the other 49 percent. JPMorgan put that deal together. Steve Burke has served on the Board of Directors of JPMorgan since 2003. JPMorgan is heavily implicated in the Libor rigging scandal.
As previously reported here, prosecutors in the Canadian Competition Bureau have whistleblower testimony heavily implicating JPMorgan:
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