First, I would like to thank The Newt for picking up the slack this morning. I had surgery on my pinkie today so my blogging may be sporadic. Btw, what happened to SQ's "Poker Tip of the Day"?
Anyhoot, two statements regarding Rathergate were released today, one from Dan Rather, the other from CBS. Captain's Quarters has a nice discussion on these pathetic statements:
No one at CBS wants to take responsibility for the debacle which they caused. Specifically, none of the following are mentioned in the various apologies and statements:
* No apology or even mention is given for the repeated "personal" assurances of Rather and Heyward that the documents were genuine. All of a sudden, they speak in the passive voice: "We were misled ..."
* Neither CBS nor Dan Rather apologized for smearing the critics of the documents as "partisan". Neither have acknowledged that the critics were correct, either.
* Neither give an explanation as to why their own experts were ignored when they raised questions about the documents.
* No one has explained why Ben Barnes was used as a source for this story, given Barnes' status as a major Kerry fundraiser and his contradictory public statements on this issue in the past.
* Andrew Heyward, as President of CBS News, has the responsibility to ensure that CBS News employees use proper journalistic practices and research their stories carefully under all circumstances. Heyward has yet to tell how he accomplished this in light of the fiasco that occurred.
* Dan Rather, as managing editor, has the responsibility to ensure that stories are well-researched and accurate prior to publication. Rather gave no explanation, other than claiming to have been "misled", as to how he fulfilled his responsibilities in this case.
In fact, the apologies are nothing more than a "gee, we're sorry" one would expect to hear at a department store when a product failed to perform.
Also, if you get the chance, pick up today's Wall Street Journal. There is an excellent article entitled
"As Bush Goes, So Does Market" (subscription required) that illustrates the remarkable correlation between Bush's reelection chances and the stock market, which as The Newt could better articulate, is the best predictor of the economy's outlook.
A "Bush Rally" is buoying stocks in the market's historically weakest month, underscoring the increased attention investors are paying to politics and terrorism.
Looking past corporate profits and interest rates, some investors have begun tracking data on an Irish betting Web site, TradeSports.com, that takes wagers on, among other things, who will win the presidential election. In
recent weeks, a chart of President Bush's re-election chances based on TradeSports odds has looked surprisingly like the chart of the Dow Jones Industrial Average.
The two have been moving more or less in tandem for
months, and the link seems to have kicked in most strikingly around the start of June -- about the time the election battle lines began to firm up. The TradeSports data show that expectations of a Bush re-election were rising until
mid-January of this year, when they topped out at about 75%. The betting then turned against Mr. Bush, and his odds fell to just less than 50% around the end of July. Then the betting swung back his way, hovering at about 70% yesterday.
The stock market has seemed to follow in Mr. Bush's wake. The Dow industrials and Standard & Poor's 500-stock index began their slide in mid-February, a few weeks after Mr. Bush. They pulled out of that slide in mid-August, and the Dow industrials are up 1.1% in September -- a month that has
had an average loss of 1.23% since their inception in 1896.
"It's eerie," says John Caldwell, chief investment strategist at McDonald Financial Group, a brokerage arm of Cleveland financial group KeyCorp. "It is a pretty strong relationship."
Now, obviously I'm a bit biased, but wouldn't it be fair to say the it is a near certainty that a Bush administration would lead to better economic growth than a Kerry administration?
There's also a good article about the stark differences between some of the recent polls.
And a good article about how Bush plans to control the Iraq debate by showing US resolve. (subscription required for both). This week, he is speaking to the U.N. and he is hosting Allawi at the White House.
But by far the most important reason to pick up today's Journal is a special section about football! The Journal discusses whether the NFL's "socialism" can survive, whether football coaches' motivational ploys would work in a business setting, the greatness of the new Madden NFL videogame, new stadiums and a whole lot more. Great stuff indeed.
Also, check out the
New Yorker's piece on Teresa Heinz Kerry (btw, is it me or is it just the Dem wives that insist on having at least 2 last names?). Today's news is that she calls her critics "scumbags." Can she possibly be the first lady? A Billionaire Mozambiquan (is that the right term -?) Heiress with a French Accent who said that
hurrican victims should go naked? (the modern-day version of "let them eat cake"). She can't possibly be the first lady, can she? As opposed to a schoolteacher/librarian from Texas? Which one do you think best represents America? ARGHHHH!!!