Offshore Investments And The New Media

The recent dust-up over Mitt Romney’s Swiss Bank Accounts provides an important lesson on the evolution of journalism in America. This week the Obama campaign went with the “Mitt Romney is an outsourcer” meme but this game plan was short-lived as the New Media in the form of the Weekly Standard, revealed the hypocrisy: (Hat tip: Hot Air)

Disclosure forms reveal that Democratic National Committee chair Debbie Wasserman Schultz, a member of Congress from Florida, previously held funds with investments in Swiss banks, foreign drug companies, and the state bank of India. This revelation comes mere days after the Democratic chair attacked presumptive Republican presidential candidate Mitt Romney for holding money in Swiss bank accounts in the past.

This pushed the hand of the Old Media as ABC News, which still has a few true journalists left in their arsenal, revealed Valerie “Obama’s Brain” Jarrett’s own foreign exploits:

A lot of attention has been focused lately on Mitt Romney’s offshore finances in places like the Cayman Islands and Bermuda.

But the word Bermuda pops up on the financial disclosure forms of  one of President Obama’s top advisers too.

Valerie Jarrett’s financial disclosure form filed May 4 lists a line of credit from a Bermuda insurance company valued between $100,000 and $250,000.

Now, what can we surmise from this?  Two possibilities: 1) The Democrat Party machine is still stuck in the past when there was only the Old Media and they could make any statement they wanted and not have to worry about it being challenged or investigated; or 2) The Democrat Party machine is relying on the fact that attention spans are short and many people will only hear the first charge and not hear the rebuttal. It’s likely a combination of both which leads to the behind-the-scenes in-fighting you sometimes hear about on political campaigns or in the halls of Congress or the White House. Some, I’m sure, are furious that this meme collapsed because no one checked to see if the walls were made of glass.

Factor into this a recent Gallup Poll that shows consumer confidence in Television News at an all time low:

Americans’ confidence in television news is at a new low by one percentage point, with 21% of adults expressing a great deal or quite a lot of confidence in it. This marks a decline from 27% last year and from 46% when Gallup started tracking confidence in television news in 1993.

I quipped on Twitter that we need to get this number down to zero, but that’s no joke. I’m inclined to say since Watergate, but it’s really since the Kennedy Administration that the MSM has made it their priority to not report the news but make the news. To quote Charles Foster Kane, “People will think what I tell them to think.” I’ve seen Dan Rather use false documents to try and take down a President. I’ve seen “Fast and Furious,” a scandal bigger than Watergate, ignored by NBC. This is no longer just a simple matter of bias; the MSM is now slouching toward Fifth Column territory. Any Republican presidential candidate starts with an immediate handicap created by the MSM. If you control information, you control the future. Glenn Reynolds, Roger L. Simon, Andrew Breitbart and many more have been storming the gates for years and making significant progress, but with progress comes a wounded enemy that becomes more rabid, more desperate in its desire to keep its grip on the power and ability to “change the world.”

In short, the MSM must be defeated. It’s the only chance we have to get our country back. The ratings for the national evening newscast must hit rock-bottom; circulations of newspapers and magazines need to dwindle to near oblivion leaving the statists with no allies to carry their messages of misdirection and confusion.


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