THE BASIS POINT

Fox Business Sues Treasury For Failing To Disclose Bailout Fund Usage

Fox Business News launched in October 2007, two months after the financial crisis began, with lowbrow programming like their market wrap show Happy Hour which takes place in a bar and features segments like Quick Shots where they offer stock picks. To some, it lacks financial credibility but to Fox it brings the broadest possible audience and ad revenue. Love or hate them, it’s hard to deny Fox’s self-promotional power. And in their latest self-promotion, they’re blending credibility with broad appeal. They’re suing the Treasury Department for failure to comply with their Freedom of Information Act requests for details on how bailout funds are being used. This is smart. Even if Quick Shots makes smart people feel lightheaded and makes the rest do regrettable things.