NEWS MEDIA ARE PART OF THE PROBLEM

When I searched FAUX News on July 4th for mentions of the Barclays Bank-LIBOR scandal, I noticed that the other networks weren't exactly shouting the news from the rooftops.

Media Matters finds that the so-called serious news networks are still paying scant attention:

REPORT: News Networks Give Massive Banking Scandal Only 12 Minutes Of Primetime Coverage
Blog ››› July 13, 2012 11:18 AM EDT ››› BEN DIMIERO & ROB SAVILLO

Despite the massive scope of the controversy -- LIBOR is "used as a benchmark to set payments on about $800 trillion worth of financial instruments" -- CNN, Fox News, MSNBC, ABC, CBS, and NBC have only spent about 12 minutes combined covering the story during their evening newscasts and opinion programming.

Notably, flagship nightly news programs like ABC's World News with Diane Sawyer, NBC's Nightly News with Brian Williams and Fox News' Special Report with Bret Baier have never mentioned the rate-fixing scandal. Sunday morning standards including ABC's This Week with George Stephanopoulos, CBS' Face the Nation, CNN's State of the Union with Candy Crowley, and Fox's Fox News Sunday with Chris Wallace have also been silent on the story.