The Washington Post

Libor-dissing continues

Yesterday this blog wrote about how the weeknight newscasts of ABC and NBC had failed to mention the international financial scandal involving Libor, the London interbank offered rate. According to a study by Media Matters of America, “NBC Nightly News” and ABC’s “World News” whiffed on the topic from the emergence of the scandal on June 27 all the way through July 12.

Perhaps these networks hadn’t spoken with the likes of Jim Rickards of JAC Capital Advisors. He told Yahoo that the Libor shenanigans are “so big I don’t think people have got their minds around it. This is the largest financial scandal I’ve seen in my career.”

Not quite big enough, though, to make last night’s ABC newscast.

Here’s a look at what ABC featured last night on “World News with Diane Sawyer.” Extensively detailed summary indicates worthless story that easily could have been scrapped in favor of some killer Libor coverage.

● Drought: Farmers distraught, crops withering.

● Lightning: How to avoid it.

● Needles in meat sandwiches on Delta flights.

● London scrambles to put together security net for Olympics.

● George Zimmerman faces new accusations.

● More mayhem in Syria.

● Pressure on Mitt Romney to release more tax information.

● “Clean cut” kid living outside of Cincinnati who has a Facebook page and likes skateboarding and roller hockey is busted for allegedly running a $3 million marijuana-dealing scheme. Six-thousand bucks is found in the kid’s closet. The marijuana in question was grown inside homes. The suspect’s mother had “no clue” about the ring. Cop is quoted as saying the kid is “very intelligent.” It all happened to an otherwise “typical suburban teenager” in a “comfortable suburb” and a “neatly manicured neighborhood.”

● Kidnapping victims in Egypt released.

● More on Ralph Lauren and those Olympic uniforms.

● Obits.

● Women outscore men on IQ tests. ABC News reporter Sharyn Alfonsi sits down with ABC News legal eagle Dan Abrams to discuss the wonders of women, including their high tolerance for pain relative to men. The two TV talents sit side by side in salon chairs and have the hair waxed from their shins to underscore the pain-tolerance discrepancy. The two giggle over the stunt, and Alfonsi says to Abrams, “I just wanted you to know I didn’t even flinch.”

Erik Wemple writes the Erik Wemple blog, where he reports and opines on media organizations of all sorts.


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