Wednesday, July 20, 2011

Typical. Typical. Typical. Wall Street.

Wall Street cares nothing about morality, crime or anticipated outcomes except where it 'makes money.'  To Wall Street, the Murdochs demonstrated yesterday they were able to contain the scandal and contain the damage.  That is all they care about.  They don't care about whether there was "W"rong doing or anything else, they care about whether or not News Corp is going to continue to make money.  


In that reality of Wall Street. and it is their reality, their focus and their goals lies the profound reality they are criminals before valuable entities of society and the Supreme Court gave them citizen rights?  I don't think so.


See, the British Panel yesterday was interested in understanding that there was damage control in a corporate environment that LAUNDERED their testimony for protectionism.  As one of the panel members tried to have the Murdochs undertand, there was a 'collective blindness,' common thread and a 'group think' that authorities found was unhelpful to investigation.  THAT is criminality in case no one recognizes it and it is applauded by Wall Street in returns of the value of market shares.


...Instead of finding (click title to entry - thank you)  a signal that this was the beginning of the end of Rupert Murdoch'’s run at the helm of his company, analysts stressed that there was no single revelatory moment during the proceedings. If the Murdochs seemed at times distant, even oblivious, to what was going on in their own company, there were no obvious admissions of wrongdoing or glaring contradictions in their testimony, analysts said.
“This was the best day these guys have had in a really long time,” said David Bank, media analyst for RBC Capital Markets. “No shoe dropped, no smoking gun was found, it all sort of sounded kind of contained.”
After losing billions of dollars in market value, the News Corporation’s stock recovered a significant chunk of its value on the Nasdaq, rising almost 6 percent during the day to close at $16.25 a share. And after Mr. Murdoch and his son James concluded two hours of often tense testimony to a House of Commons committee, there was little of the widespread scorn that has greeted almost everything the Murdochs have said and done in the more than two weeks since the most recent voice mail hacking scandal at News Corporation’s British newspaper operation erupted…. 


Does Wall Street understand the definition of COLLUSION?  If they do, then they don't care and/or hope to have laws changed to benefit them rather than actually have laws that uphold the integrity of society.




By Alan Cowell    
Published: July 20, 2011
…accused the Murdoch empire of “deliberate attempts” to thwart its investigations.
…The report was issued on Wednesday just hours before Prime Minister David Cameron to address a special session of Parliament after returning home early from an African trade tour to face new questions about his relationships with former senior figures at News International, the British subsidiary of Rupert Murdoch’s global News Corporation….

Up next Prime Minister David Cameron.  He should not take comfort in the testimonies that occurred yesterday.


Milly Dowler is somebody.  If it has to be put into 'economic' terms and 'terms of greed,' then Milly Dowler is the future Prime Minister of Great Britain that would have turned the corner on every demand of Wall Street and now she is gone.  


Whether the phone hacking endangered the search by police or not is now as debatable as ever.  But, one thing is for sure.  Rupert Murdoch's News Corp compromised the evidence the police were examining and it probably effected the 'tone' of the investigation and the methods they were pursuing while they believed the girl was still alive and potentially able to reach them or her family.  Being alive means she could have been playing games or otherwise.  The hacking compromised the process and potentially compromised the outcome for Milly Dowler and her family.

Rupert Murdoch's News Corp puts themselves above the law and self righteously so.  They believe they can answer the public's need for answers and portrays the government as incompetent when it ii they that are.