Article 2786 of soc.culture.usa ,misc.headlines,soc.culture.usa Subject Part I, THE MASS M

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Article 2786 of soc.culture.usa: Newsgroups: alt.conspiracy,alt.activism,talk.politics.misc ,misc.headlines,soc.culture.usa Path: cbnewsl!jad From: jad@cbnewsl.cb.att.com (John DiNardo) Subject: Part I, THE MASS MEDIA: Programming the Robotic American Organization: AT&T Bell Laboratories Distribution: North America Date: Fri, 31 Jan 1992 18:02:32 GMT Message-ID: <1992Jan31.180232.177@cbnewsl.cb.att.com> Followup-To: alt.conspiracy Keywords: the corporate/government oligarchy's control over citizens' minds Lines: 121 These passages are excerpted from the book titled, THE WALL STREET GANG, by Richard Ney, Praeger Publishers, Inc., New York, N.Y., published ten years in advance of 1984 : * * * * * * * * * * * * * * * * * FOREWORD by Senator Lee Metcalf -------------------------- I approach this commentary on Richard Ney's "The Wall Street Gang" with a mixture of pride and trepidation. I am proud that Mr. Ney has seen fit to single out in Chapter Two an exposure of some of the activities of the Wall Streeters I have tried to bring to the attention of the American people; and I am concerned that perhaps I cannot do justice to a book that is more knowledgeable, more comprehensive, and more informative than anything I have achieved. ..... ------------------------------------------------------------------ CHAPTER THREE Stop the Press, I Want to Get Off ----------------------------------- Shortly after the publication of "The Wall Street Jungle" in 1970, it occurred to me that the organization of public opinion by the media is the secret of the Stock Exchange's power. Two factors supported this proposition: (1) The climate of opinion created by the financial press disposed investors to accept highly unprofitable theoretical constructions with no basis in fact to explain the market's fluctuations. (2) I had supplied financial editors and writers with the materials that had proved their predictive value and which should have enabled them to give investors a clearer structural approach to the market. I had shown that the system created for investors was unwieldy and almost inevitably ruinous; that it enabled the Exchange establishment to compete with the public by employing deception and an array of secret practices. Yet almost every important financial newspaper appeared determined to see existing theory preserved and kept separate from the facts. If what I had to say was in error or inadequate, why I wondered didn't the financial media deal with it in order to dispose of it? I could only conclude that the media had taken their lead from the Exchange. As for the Exchange, Christopher Elias, in his book, "Fleecing the Lambs", wrote: "Richard Ney's well documented "Wall Street Jungle" roundly criticized practices among specialists and others on the floor of the American and New York Exchanges. This thoroughly enraged William O'Reilly, vice president of the floor department, who for weeks after the book's appearance, inveighed against Ney to all who would listen, especially during lunch in the senior staff dining room." But long before Elias placed these facts before the public in his book, the Exchange's expressions of extreme hostility to my work had been commented on by members of the media not linked to the financial page. Joe Egelhof of The Chicago Tribune pointedly asked the Exchange to respond to the issues I had raised. But when the only comment he received was "no comment", he asked how the Exchange could remain silent in view of the specifics of my indictment. He was told, "There have been other authors like Ney and other books like `The Wall Street Jungle'. They have all disappeared and we are still here." In the same spirit, The New York Times refused to review the book despite the fact it was on its best-seller lists for more than eleven months; in response to an advertisement submitted by Pickwick Bookshops, The Wall Street Journal stated: "We will not take an ad for THAT book." On June 22, 1970, the Journal published a review of the book that, totally ignoring the book's principal arguments, devoted itself to an attack on the design of the dust jacket and the typeface selected by the publishers. Because of the dilemma raised by what I considered the media's total compromise of their critical vision, I began an investigation of financial writing, the essential habits of financial writers, the uses of financial propaganda, and its crucial impact on the investor's behavior pattern. At first I found it difficult to reconcile the motivations of financial writers with their professed function. I had assumed that they were dedicated to a rational and truthful unfolding of financial events. Then I came upon the opinions of other journalists. The book, REPORTING THE NEWS, by Nieman Fellow journalists, quotes the Hutchins Commission Report on "Freedom of the Press" as noting that the press is "acting increasingly like Big Business and increasingly in alliance with other big businesses. The report then concluded that: THE AMERICAN PEOPLE DO NOT REALIZE WHAT HAS HAPPENED TO THEM. They are not aware that a communications revolution has taken place. They do not appreciate the tremendous power which the new instruments and organization of the press place in the hands of a few men. THEY HAVE NOT YET UNDERSTOOD HOW FAR THE PERFORMANCE OF THE PRESS FALLS SHORT OF THE REQUIREMENTS OF A FREE SOCIETY. [emphasis added.] (to be continued) * * * * * * * * * * * * * * * * * And today, eight years into 1984, they are even more submissively hoodwinked than they were eighteen years ago. There is at least one way that conscientious, patriotic people can work to restore the pursuit of truth to the information services of our society. They can volunteer to work for FAIR, Fairness and Accuracy in Reporting -- and they can do it right from their PCs. Just tell FAIR that you want to work with them. They'll reply that they are always looking for volunteers to seek out examples of media distortions in newspapers, magazines, radio and TV. To send e-mail to FAIR's PeaceNet account: fair@igc.org You can write or call FAIR at 130 West 25th St. New York, NY 10001 (212) 633-6700 John DiNardo ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ Those who clamor for enslavement are more pitiful than slaves. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Article 2426 of misc.activism.progressive: From: jd@homxc.att.com (John A Dinardo) Newsgroups: misc.activism.progressive Subject: Part II, THE MASS MEDIA: Programming the Robotic American Keywords: the corporate/government oligarchy's control over citizens' minds Message-ID: <1992Feb4.002738.19282@pencil.cs.missouri.edu> Date: 4 Feb 92 00:27:38 GMT Sender: rich@pencil.cs.missouri.edu (Rich Winkel) Followup-To: alt.activism.d Organization: AT&T Bell Laboratories Lines: 114 Approved: map@pencil.cs.missouri.edu These passages are excerpted from the book titled, THE WALL STREET GANG, by Richard Ney, Praeger Publishers, Inc., New York, N.Y., published ten years in advance of 1984 : * * * * * * * * * * * * * * * * * CHAPTER THREE Stop the Press, I Want to Get Off ----------------------------------- (continuation) In "Blueprint for a Better Press", another book of articles by Nieman Fellow Journalists, Leon Svirsky, the book's editor, had this to say: "The fetish of objectivity does not trouble most financial editors. Outright propaganda makes up the bulk of their business news." In March, 1963, in hearings before the Antitrust Subcommittee of the Judiciary Committee of the House of Representatives to determine the effects of a continuing decline in newspaper competition, the publishers of the New York Herald-Tribune were asked, "What sense of social responsibility should the press have?" the Tribune answered, "The American newspaper has always been a newspaper affected with the public interest." The Wall Street Journal dissented, however, with the following comment: A newspaper is a private enterprise, OWING NOTHING WHATEVER TO THE PUBLIC ..... it is emphatically the property of its owner who is selling a manufactured product at his own risk. Editors, except where they own their own newspapers, take their policy from their employers -- but for ridiculously obvious reasons there are many newspaper owners willing enough to encourage the public in the delusion that it is the editor of the newspaper who dictates the selection of news and the expression of public opinion. He only does so, subject to correction and suggestion of the proprietor of the paper, who, most probably, considers his newspaper a plain business proposition. It is just that, no more, and certainly no less. [Emphasis added.] Because of the Exchange's ability to dominate the financial page, it has proved almost impossible to expose the deceptions inherent in its practices. It has therefore erected a fact-proof screen between itself and the investor. For this reason, the existence of the Exchange specialist's practices have remained a greater mystery to investors than the composition of the atom. Hence, investors are only "seekers"; they rarely become "finders". The task of preventing disclosure has fallen largely to the Stock Exchange News Bureau. For practical purposes, it is the Exchange establishment's Ministry of Propaganda. Housed on the fourteenth floor of the Stock Exchange, the News Bureau is the largest single unit in the Exchange's Department of Public Information and Press Relations. The men the Exchange has gathered together to service this propaganda machine include the most brilliant journalists, news analysts, and PR men in the business. Many of them are highly imaginative writers. They interpret the Exchange's personal prejudices and myths as critical market data. The staff members work with reporters and others doing feature articles for newspapers and magazines; they prepare live broadcasts concerning stocks, the Stock Exchange, and the economy; and they act as liaison with radio and television stations on business news presentations and as consultants to a number of listed companies preparing documentary films on the Exchange or on the corporations listed with it. Their department has also established very close links with the TOTAL SPECTRUM of the news media. The most obvious thing about this financial propaganda is the way it employs the comments of economists, businessmen, and government officials to precipitate buying or selling by the public or to alibi a fluctuation in the market. When the signal was given in April, 1971, that the Dow average was about to follow the rest of the market down, we found that, totally oblivious to the nightmare the investor was about to experience, the media were encouraging him to enter the market. The ideological struggle between Exchange insiders and the public was further compounded when President Nixon, during the 1970 decline in the market, placed the interests of the Stock Exchange before the common man by allowing himself to be quoted to the effect that if he had any money at that time he would buy stock. On April 17, 1971, as the Dow began its dive, the President appeared for press photographs with friends from the Stock Exchange. Handed a stuffed leather bull by Bernie Lasker, a specialist on the floor of the Exchange, he affirmed that, because "next year is going to be a very good year" and because the stock market is the measure of all good things, the public should invest in the market. In all this there is not one phrase of useful information provided investors, merely the spectacle of a President using his office on behalf of the Exchange to influence the investor thinking. (to be continued) * * * * * * * * * * * * * * * * * There is at least one way that conscientious, patriotic people can work to restore the pursuit of truth to the information services of our society. They can volunteer to work for FAIR, Fairness and Accuracy in Reporting -- and they can do it right from their homes, at their PCs. Just tell FAIR that you want to work with them. FAIR is always looking for volunteers to seek out examples of mass media distortions in newspapers, magazines, radio and TV. To send e-mail to FAIR's PeaceNet account: fair@igc.org You can write or call FAIR at 130 West 25th St. New York, NY 10001 (212) 633-6700 John DiNardo ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ Those who clamor for enslavement are more pitiful than slaves. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Article 2609 of misc.activism.progressive: Newsgroups: misc.activism.progressive From: jd@homxc.att.com (John A Dinardo) Subject: Part III, THE MASS MEDIA: Programming the Robotic American Message-ID: <1992Feb21.190602.7568@mont.cs.missouri.edu> Followup-To: alt.activism.d Originator: rich@pencil.cs.missouri.edu Keywords: Those who clamor for enslavement are more pitiful than slaves. Sender: news@mont.cs.missouri.edu Nntp-Posting-Host: pencil.cs.missouri.edu Organization: AT&T Bell Laboratories Date: Fri, 21 Feb 1992 19:06:02 GMT Approved: map@pencil.cs.missouri.edu Lines: 93 These passages are excerpted from the book titled, THE WALL STREET GANG, by Richard Ney, Praeger Publishers, Inc., New York, N.Y., published ten years in advance of 1984: * * * * * * * * * * * * * * * * * (continuation) On April 28, 1971, instead of protesting against deception and the substantial realities of a declining market, President Nixon circulated to 1,300 editors, editorial writers, broadcast news directors, and Washington bureau chiefs a list of the stocks of ten corporations that had advanced during the past year. The Washington Post of April 29, 1971, reported: Herbert G. Klein, Director of Communications, sent out the list as evidence of the stock market's confirmation of the President's "advice" that "it would be a good time to invest in the stock market." In the course of every decline the propaganda machine is cranked up to provide investors with the assurance that, if they are losing money in the market, specialists and other Stock Exchange insiders are also having a tough time. For example, the market decline of 1969-70 brought us the following report by Philip Greer in the May 4, 1970, Washington Post, telling of another visit to Washington by President Nixon's good friend Bernie Lasker, then chairman of the New York Stock Exchange: Wall Street made a pilgrimage to Washington ..... trying to find somebody, anybody in the White House to listen to the tale of woe ..... For emphasis, they only had to show off the battle scars in their checkbooks. In its issue of August 10, 1970, Time Magazine began an article with these words: "This year's slump has hit nobody more than the men who make the market on the Stock Exchange floors -- the specialists." So the media exhibit a steadfast unwillingness to admit that specialists make as much money (from their short-selling) in a declining market as they do [JAD: from long-buying] in an advancing market. Financial columnists are too willing to take their lead from their Wall Street sources. On May 9, 1971, one month after the Stock Exchange had launched the market into a major downtrend, the Los Angeles Times, instead of providing information that might persuade investors to sell, ran the following propaganda-loaded headline in its Sunday editions: "EXPERTS' TIP ON WHEN TO SELL: DON'T." Feigned stupidity is a commonplace of deception. If any thesis rings hollow it is that network television is interested in factual reporting about the Stock Exchange. In July, 1970, a month after the publication of the [WALL STREET] JUNGLE, Bill Stout taped a twenty-minute interview that was to be aired on three successive CBS early morning network news hours. At the end of the interview, Stout commented, "It's good. I hope they use this one." The camera crew asked how to obtain copies of the book. A week later Stout told me that CBS had killed the interview with the explanation, "It is over the public's head." A few years earlier CBS cancelled another interview with Stout for the Walter Cronkite "Evening News" with the explanation, "He doesn't know what he's talking about." Subsequent to a taped interview on the Merv Griffin program in 1971, CBS censored all references to the New York Stock Exchange and Merrill Lynch. I wrote Frank Stanton, the head of CBS, pointing out that my statements were fully documented. An exchange of letters ensued until it became apparent CBS was unwilling to allow me to make any comments about the Stock Exchange. CBS's censorship signified a distinct recognition of the importance of the censored material. (to be continued) * * * * * * * * * * * * * * * * * There is at least one way that conscientious, patriotic people can work to restore the pursuit of truth to the information services of our society. They can volunteer to work for FAIR, Fairness and Accuracy in Reporting -- and they can do it right from their homes, at their PCs. Just tell FAIR that you want to work with them. FAIR is always looking for volunteers to seek out evidence of mass media lies, distortions and omissions in newspapers, magazines, radio and TV. To send e-mail to FAIR's PeaceNet account: fair@igc.org You can write or call FAIR at 130 West 25th St. New York, NY 10001 (212) 633-6700 John DiNardo ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ Those who clamor for enslavement are more pitiful than slaves. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Article 16213 of alt.activism: Newsgroups: alt.conspiracy,alt.activism,talk.politics.misc, misc.headlines,soc.culture.usa From: jad@cbnewsl.cb.att.com (John DiNardo) Subject: Part IV, THE MASS MEDIA: Programming the Robotic American Organization: AT&T Bell Laboratories Distribution: na Date: Mon, 24 Feb 1992 13:53:14 GMT Message-ID: <1992Feb24.135314.28027@cbnewsl.cb.att.com> Followup-To: alt.conspiracy Keywords: Those who clamor for enslavement are more pitiful than slaves. Lines: 150 These passages are from the book titled, THE WALL STREET GANG, by Richard Ney, Praeger Publishers, Inc., New York, N.Y., published ten years in advance of 1984: * * * * * * * * * * * * * * * * * ~~ CHAPTER THREE ~~ STOP THE PRESS, I WANT TO GET OFF (continuation) The television networks' news services have had a profound influence on the thinking of Americans about the stock market. All who can become big advertisers are presumed to possess supreme virtues, and the network news programs now list stock brokerage firms, mutual funds, and financial tip sheets among their sponsors. Unlike those who were finally allowed to deliver anti-cigarette commercials, investor advocates are not granted air time to point out that beneath the superb facade of the sacred brahmins of the financial world, life is arid, dark, and malign. Nor can other forms of information in this vein be provided investors, lest it offend important new advertisers. The Metcalf and Muskie report, mentioned earlier, also included a Congressional Research Service analysis of ownership of broadcast companies and networks in 1972. It shows that Stock Exchange establishment banks like Chase Manhattan, Bankers Trust, and Bank of New York together had voting rights to almost one-fourth of the stock in both the Columbia Broadcasting System and the American Broadcasting Company. The major New York banks also had significant voting rights in Metromedia, Pacific and Southern Broadcasting, Capital Cities Broadcasting, and fourteen other broadcasting groups. Senators Metcalf and Muskie commented, "Possibly, were he still with us, Ed Murrow would say: `This is the news.'" The senators said Eastern Establishment banks had violated FCC rules regarding concentration of ownership of broadcasting companies. ..... ..... On October 12, 1971, Senator Metcalf introduced into the Congressional Record his findings from leafing through a copy of TIME Magazine: Will "TIME" Tell? SENATOR METCALF: Mr. President, last week, while paging through my copy of TIME, I noticed some familiar names in an odd place. The name was the "nominees," "street names," or "straws" used to hide the identity of various financial interests. I found these street names in TIME's ownership statement, which appears on page 92 of the magazine of October 11. Periodical ownership statements are supposed to be published at least once a year ..... According to the weekly news magazine, it is owned by TIME, Inc., of which ten stockholders each own or hold one percent or more of the total amount of stock. ..... First on the list is Carson & Company. It's address is box 491, Church Street Station, N.Y. 10018. ..... Carson & Company really means Morgan Guaranty Trust. Further down on TIME's report on its principal stockholders appears the name Powers & Company. It has a different post office box at the Church Street Station -- box 1479 ..... you can see by the nominee list that it is also Morgan Guaranty Trust. Powers & Company shares box 1479 with another of TIME's stockholders -- Tegge & Company ..... Tegge & Company shows up in this year's edition of the nominee list as yet another pseudonym used by Morgan Guaranty Trust. TIME includes among its reported stockholders Chetco, at 35 Congress St., Boston, and Ferro & Company, at the same address. Both, according to the nominee list, are really the National Shawmut Bank of Boston. TIME likewise lists without further identification Pace & Company, box 926, Pittsburgh. And who is Pace? It is really Mellon Bank & Trust, according to the nominee list. Another of TIME's stockholders is reported as Cede & Company, box 20, Bowling Green Station, N.Y. Persons who follow regulatory matters will recall that Cede & Company shows up repeatedly on ownership reports of power companies, airlines, and railroads, and that not long ago the Interstate Commerce Commission expressed mild interest in finding out who controlled all those Cede & Company shares ..... The nominee list shows that Cede & Company is the Stock Clearing Corporation, at 44 Broad Street. I would add that the Stock Clearing Corporation is a wholly owned subsidiary of the New York Stock Exchange. ..... I leave it to the would-be Lieblings to ferret out press ownership and its implications. Perhaps university STUDENTS and FACULTY will want to develop the larger issue of identifying the persons or groups who vote the proxies that corporations send, I suppose, to those post office box headquarters of phantom companies. JAD: [The students and faculties of the Vietnam War era were aware of the systematic deceit that the Establishment, both in the Government and in the Press, had been propagating, mainly via the public's mesmerizing, flickering screens. I, among them, was taken in at first as to the demons they had manufactured for us to hate, and by the noble big brother they had manufactured for us to adore. But the Vietnam War unshrouded and illuminated the Establishment's (those unpublicized lords of industry who have the People's President and the People's Congress in their pockets) historical pattern of concocting wars for the sole purpose of feeding its insatiable lust for ever more of the world's natural resources, nearly-slave-labor, markets, profits, and the power and the dominance therefrom. And that is why the students and faculties of the Vietnam War generation counted many among them who would question, challenge and legally oppose the Establishment -- while the students and faculties of the Persian Gulf War generation have fewer among them who will take the initiative to seek out truth and rectify injustice. Fewer because this generation has suffered less and, consequently, learned less.] And perhaps the Vice President, or appropriate Congressional committees, will want to pursue this issue. Could it be that Carson, Powers, Tegge, Chetco, Ferro, Cede & Companies have surreptitiously acquired more control OF THE COUNTRY than either the radic-libs or the Mafia? Will "TIME" tell? (to be continued) * * * * * * * * * * * * * * * * * There is at least one way that conscientious, patriotic people can work to restore the pursuit of truth to the information services of our society. They can volunteer to work for FAIR, Fairness and Accuracy in Reporting -- and they can do it right from their homes, at their PCs. Just tell FAIR that you want to work with them. FAIR is always looking for volunteers to seek out evidence of mass media lies, distortions and omissions in newspapers, magazines, radio and TV. To send e-mail to FAIR's PeaceNet account: fair@igc.org You can write or call FAIR at 130 West 25th St. New York, NY 10001 (212) 633-6700 John DiNardo ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ Those who clamor for enslavement are more pitiful than slaves. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Article 2785 of misc.activism.progressive: From: jd@homxc.att.com (John A Dinardo) Newsgroups: misc.activism.progressive Subject: Part V, THE MASS MEDIA: Programming the Robotic American Keywords: Those who clamor for enslavement are more pitiful than slaves. Message-ID: <1992Mar4.223458.24153@mont.cs.missouri.edu> Date: 4 Mar 92 22:34:58 GMT Sender: news@mont.cs.missouri.edu Followup-To: alt.activism.d Organization: AT&T Bell Laboratories Lines: 113 Approved: map@pencil.cs.missouri.edu Originator: rich@pencil.cs.missouri.edu Nntp-Posting-Host: pencil.cs.missouri.edu These passages are from the book titled, THE WALL STREET GANG, by Richard Ney, Praeger Publishers, Inc., New York, N.Y., published ten years in advance of 1984: * * * * * * * * * * * * * * * * * ~~ CHAPTER THREE ~~ STOP THE PRESS, I WANT TO GET OFF (continuation) In June, 1972, Senator Metcalf delivered further testimony about TIME's links with the Eastern financial establishment before Senator Gaylord Nelson's Monopoly Subcommittee. It elicited a reply from Andrew Heiskell, the chairman of TIME's board, who included the following comment in his letter to Senator Metcalf: "Now that the question has been raised, we propose to write to each shareholder of record who, on August 28, 1972, owns more than one per cent of the stock of the company and request that each inform us if he acts as trustee or in any other fiduciary relation, and if so, the names and addresses of the persons or corporations for whom he is so acting. ..... We shall then include in our report for 1972 whatever information we obtain in this manner." This diffident defense carries a strong odor of presumption that Senator Metcalf is unaware of the distinction between "beneficial" and "proprietary" owners of stock. Information, however, is the open sesame to consciousness. Metcalf is aware that invisible control hides under the alias of the proprietary owner. He replied to Mr. Heiskell's letter: August 9, 1972 Mr. Andrew Heiskell Chairman of the Board TIME, Inc. Rockefeller Center, New York, N.Y. Dear Mr. Heiskell: I appreciate your 3 August letter regarding my Senate reference to principal stockholders of TIME, Inc. and other corporations. I am sending two enclosures which may be helpful to you. The first is my Senate speech of 28 June. I call your particular attention to this paragraph: "Let me emphasize that I do not propose identification of the beneficial owners of the stock, the people or institutions who receive the dividends, even though their investments are sizable. What the public, the stockholders, the regulators need to know is the identity of the PROPRIETARY owners -- THE VOTERS -- of significant amounts of stock." You state that you proposed to write each shareholder of record who holds more than one percent of the stock of the company, and ask them to identify the persons or corporations for whom they act as a trustee or in any other fiduciary capacity, and that you shall include this information in your report required under the Postal Reorganization Act. That is of course your prerogative. It will, however, in my opinion, lead to unnecessary paperwork and expense without providing the identity of the proprietary owners who vote the principal blocks of stock. My second enclosure elaborates on that point. It is that portion of a report by the American Bankers Association, furnished me by Chairman Burch of the Federal Communications Commission, which deals with voting strength in TIME, Inc. by nineteen banks. You will see that one bank has sole voting rights to 360,167 shares of stock, and joint voting rights to 16,795 shares, comprising in total 5.2 percent of the shares voted. But these concentrated voting rights are divided among an estimated 256 accounts. In another situation, as you can see, a bank has sole voting rights to 271,352 shares and joint voting rights to 37,257 shares. Together this amounts to 4.3 percent of the stock voted. But the voting rights of this bank are divided among 128 accounts. If you wish to obtain and publish the names and addresses of the hundreds of beneficial owners of stock in your company, that is of course your privelege. If you choose to obtain and disclose voluntarily the names of those few institutions and individuals which have voting control of the principal blocks of stock, TIME, Inc. will have made an important breakthrough in the establishment of the people's right to know. Very Truly Yours, Lee Metcalf (to be continued) * * * * * * * * * * * * * * * * * There is at least one way that conscientious, patriotic people can work to restore the pursuit of truth to the information services of our society. They can volunteer to work for FAIR, Fairness and Accuracy in Reporting -- and they can do it right from their homes, at their PCs. Just tell FAIR that you want to work with them. FAIR is always looking for volunteers to seek out evidence of mass media lies, distortions and omissions in newspapers, magazines, radio and TV. To send e-mail to FAIR's PeaceNet account: fair@igc.org You can write or call FAIR at 130 West 25th St. New York, NY 10001 (212) 633-6700 John DiNardo ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ Those who clamor for enslavement are more pitiful than slaves. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Article 16368 of alt.activism: Newsgroups: alt.conspiracy,alt.activism,talk.politics.misc ,misc.headlines,soc.culture.usa,alt.censorship From: jad@cbnewsl.cb.att.com (John DiNardo) Subject: Part VI, THE MASS MEDIA: Programming the Robotic American Organization: AT&T Bell Laboratories Distribution: na Date: Thu, 5 Mar 1992 15:47:04 GMT Message-ID: <1992Mar5.154704.27075@cbnewsl.cb.att.com> Followup-To: alt.conspiracy Keywords: Those who clamor for enslavement are more pitiful than slaves. Lines: 92 These passages are from the book titled, THE WALL STREET GANG, by Richard Ney, Praeger Publishers, Inc., New York, N.Y., published ten years in advance of 1984: * * * * * * * * * * * * * * * * * ~~ CHAPTER THREE ~~ STOP THE PRESS, I WANT TO GET OFF (continuation) On September 22, 1973, I sent certified letters to Walter Cronkite, John Chancellor, and Howard K. Smith [network TV news anchormen for CBS, NBC and ABC, respectively], advising them that a major manipulation was under way to raise stock prices in order to distribute stock; that the public should be rescued from the propaganda aimed at fostering a belief that a bull market was under way; and that the sharp advance in the market would be immediately followed by a decline in stock prices. But, because the networks are controlled by the stockbrokers and investment bankers on their boards, they begin with a bias toward the Exchange and seek only to systematize the evidence to conform to the bias. Thus, nothing was said on the air, and hundreds of thousands of investors were caught in another bear trap prepared for them by the Exchange. As has been suggested, television serves no purpose or function as a source of information for investors. Instead, it propagates Exchange handouts. Many cities have stock market stations. An investigation of the comments of the brokers, investment advisers and others who use television in order to disseminate their views about the market reveals that, for practical purposes, they know no more than the viewers about the movement of stock prices. Nor are the syndicated television shows on the market any better. "Wall Street Week", one of the most highly esteemed and successful of these programs, is, in my opinion, quite possibly the most dangerous. Its panel of experts are symptoms of a process in which, like bad bridge players, they can be counted on to play the wrong card instinctively. Not only have their bullish forecasts over the past few years proven uniformly wrong, but these forecasts are presented in the most attractive of possible settings by the most personable individuals. The persuasiveness of the format cannot, therefore, be overestimated. To further compound the investor's desperately complex situation, the hosts of these programs become recognized by the media as market experts. On Sunday, December 16, 1973, The Los Angeles Times ran an article called "Smart Money and Other Stock Market Myths", by the host and star of "Wall Street Week". Ignoring his own show's critical defects he pointed to institutional traders and told us that they: "..... have vacillated recently between headlong selling, which caused the market to emulate a Polaris submarine on red alert, and unrestrained buying, which in turn caused the market to take off like the comet Kohoutek." The interesting thing about the article was not his failure to grasp the manner in which the law of supply and demand actually works in the market, but in a little box under his article there was the announcement that Doubleday & Co. was about to publish a book he has written, "How to Make Money on Wall Street". The Exchange depends upon the tacit approval of the media, but beyond that, it always harbors the expectation that the media will sanction its practices. (to be continued) * * * * * * * * * * * * * * * * * There is at least one way that conscientious, patriotic people can work to restore the pursuit of truth to the information services of our society. They can volunteer to work for FAIR, Fairness and Accuracy in Reporting -- and they can do it right from their homes, at their PCs. Just tell FAIR that you want to work with them. FAIR is always looking for volunteers to seek out evidence of mass media lies, distortions and omissions in newspapers, magazines, radio and TV. To send e-mail to FAIR's PeaceNet account: fair@igc.org You can write or call FAIR at 130 West 25th St. New York, NY 10001 (212) 633-6700 John DiNardo ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ Those who clamor for enslavement are more pitiful than slaves. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

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