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Tuesday, July 20, 2010
Newsmax Still Trying to Rehabilitate Fossella
Topic: Newsmax

In February, we noted that Newsmax had taken a stab at trying to rehabilitate the reputation of former Rep. Vito Fossella, who had left office in disgrace after a DUI arrest led to the revelation that he had a mistress and illegitimate child. Newsmax touted him as "the only Republican in Congress from New York City" who "had very high scores for his votes from the American Conservative Union," without a mention of the scandal that brought him down. Not unlike what Newsmax tried to do to rehabilitate scandal-tarred (and now imprisoned) Bernard Kerik.

Newsmax takes another stab at Fossella rehab with a July 19 Moneynews article by Dan Weil in which Fossella is given free rein to bash the Obama administration. Weil describes Fossella only as "chief operating officer of Superfund Investment Group," not even mentioning his status as a former congressman (and, of course, not a word about his scandal).

Mixed in with this Obama-bashing is Fossella's advocacy for gold:

All this helps to explain why Fossella remains bullish on gold. Fundamentals are strong for the precious metal, he says. The budget deficit and government debt burden are exploding.

“With monetary policy, it looks like the spigot continues to be open,” he said.

“Gold is the one asset that truly maintains its value when central banks print money like it’s going out of style. And there doesn’t seem to be an end in sight.”

While the U.S. is acting in a way that will hurt the dollar, “Gold has done well against major currencies across the globe, because smart investors know gold maintains value much better than fiat currencies.”

Given Newsmax's fondness for financial schemes that depend on gold advocacy and Obama-bashing, it's not surprising that Fossella would throw them both in his interview.

This isn't the only recent instance in which Newsmax gave Fossella space to pretend he isn't scandal-ridden:

  • Fossella also sat down for an interview with Newsmax on May 6, in which he pontificated about national security.
  • A Feb. 26 Moneynews article by Weil highlighted Fossella's predictions on gold prices.
  • A July 6 Moneynews article by Weil touted a webinar on "economic policy and financial market issues" featuring Ron Paul that Fossella would be hosting.

Needless to say, Newsmax stayed silent about Fossella's scandal-ridden personal life there as well.

Looks like we'll be seeing a little more of Fossella at Newsmax -- and a lot less about any hint of scandal.


Posted by Terry K. at 8:36 AM EDT

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