CNN's Velshi Ignores Treasury Chief's Warnings on Regulation
Further regulating the economy could threaten economic growth, and heavy litigation is an âAchilles heel for our economy,â Treasury Secretary Henry Paulson warned the Economic Club of New York in a November 20 speech. Yet the warning was left out of âAmerican Morningâ business coverage the following day, even as reporter Ali Velshi had time to squeeze in a story related to Charmin bath tissue.
While Paulsonâs remarks earned coverage on page A2 of the November 21 Wall Street Journal and the front of the business sections of same dayâs New York Times and Washington Post, they were ignored by reporter Ali Velshi during his âMinding Your Businessâ updates.
âExcessive regulation slows innovation, imposes needless costs on investors, and stifles competitiveness and job creation,â Washington Post reporter Carrie Johnson quoted Paulson from his November 20 speech.
Paulsonâs comments came 11 days after former Clinton Treasury chief Robert Rubin suggested in a speech to the Economic Club of Washington that tax increases were needed to plug the federal budget deficit.
Velshi did take time to focus on a new report by the National Association of Realtors showing a cooling housing market, but the Canadian-raised religious studies graduate also entertained viewers with a story about the makers of Charmin toilet paper sponsoring bathroom stalls in New Yorkâs Times Square.
âMayor Bloomberg says after schools and the city budget, public restrooms are his biggest challenge,â Velshi noted.