In a press release issued today the American Small Business League make an interesting claim. According to the release CNN’s Lou Dobbs did an investigative piece for his ongoing “Attack on the Middle Class” series.

The accusation is that CNN revealed corruption within the Small Business Loan program. Money was being labeled as ‘Small Business loans’, however the recipients were companies like Boeing and Lockheed.

Lloyd Chapman president of the American Small Business League claims that billions of dollars in federal small business contracts were diverted to Fortune 500 corporations.

The official CNN stance is that the segment was pulled because of more pressing news requirements and will be aired at a later date. How much later is the question? According to the American Small Business League this occurred 3 months ago!

“CNN is never going to run that story,” said Chapman. “I think they pulled it because it was unflattering to its major advertisers, Lockheed Martin and Boeing. CNN’s reputation as the most trusted name in news obviously doesn’t apply when you’re talking about its advertisers.”
It would seem more likely that CNN management felt that the newsworthiness of the story was outweighed by the advertising revenue.

What ever happened to the independent press? The press that actually gave us news.

Simon Barrett

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