William K. Wolfrum's picture

    "Expert" Patrick Byrne avoids mentioning SEC investigation of Overstock, proving Fox can't do business either

    Since the Obama Administration took the offensive against Fox News - breaking the nationwide ban on telling the truth about Fox - many have vociferously complained. Ok, aside from Jake Tapper, the only ones complaining vociferously are Fox Newsians, but there has been some push back.

    Of course, there are others that believe that Team Obama didn’t go far enough. After all, how could he just slam Fox News for not being a news organization without pointing out that the Fox Business Network isn’t really a business network.

    The heroes at FBN’s Happy Hour decided to prove their utter worthlessness by interviewing Overstock.com CEO Patrick Byrne about the SEC.

    Byrne was his typical, charming self. He invented a story about an anonymous “friend’s” dealings with the SEC. He managed to mention Overstock.com’s official media arm “DeepCapture.” He again claimed SEC officials are, or were, on the take.

    What Byrne - and the Fox Business anchors - didn’t mention in this probing interview about the SEC? That Byrne’s company, Overstock.com, has been subpoena’d by the SEC and is being investigated on Overstock’s previously-announced restatements of its financial statements in 2006 and 2008 and other matters. It is the second time in three years Byrne and Overstock have been investigated by the SEC.

    But that was apparently not worth mentioning during a discussion with Byrne about the SEC.

    In the end, you may disagree with the Obama Administration’s war against Fox News. But when FBN can’t bring themselves to mention a massive conflict-of-interest from one of their guests - who happens to be a long-time Republican - there’s really no need to treat FBN like a real business network.




    Oh yeah, I'd like to see you get up there and indignantly seethe at Wall Street malfeasance while at the same time staying true to your anti-regulatory dogma. It's not easy, my friend, it's not easy.

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