The ABC, CBS and NBC evening news shows apparently didn’t find a Democratic congresswoman engaging in shady stock market activity to be worth any coverage.
According to a disclosure report Democratic Congresswoman Lois Frankel (FL-22) filed, she sold between $1,001 and $15,000 in First Republic Bank stock on March 16th and bought between $1,001 and $15,000 in JP Morgan stock on March 22nd. Coincidentally, First Republic would be the latest victim in the ongoing banking crisis; taken over by regulators and later purchased by JP Morgan on May 1st. But ABC’s World News Tonight, CBS Evening News and NBC Nightly News didn’t find any of this newsworthy during their May 1, May 2 and May 3 broadcasts and ignored the entire scandal.
The Big Three evening network’s blackout on the Frankel controversy is especially egregious in light of other prominent outlets that did cover it.
Her disclosure and the suspicious timing of her trades was noted by outlets like Newsweek, CNN, and the Daily Mail. Fox Business hosts Maria Bartiromo, Charles Payne, and Brian Brenberg all discussed the disclosure on their shows during the last three days. Fox News host Jesse Watters suggested during the Tuesday edition of Jesse Watters Primetime that nefarious intent possibly motivated both of Frankel’s stock decisions. “Here is a great example and it's right out in the open that regional bank, remember, First Republic, you know the one that just went belly up? He said. “Just days before First Republic imploded Florida Democrat Lois Frankel dumped her shares in the company. Frankel unloaded this stock at $34 a share. Four days later the stock was trading at 12 bucks apiece.”
Watters went on to say that Frankel profited from both ends of the trade. “But Frankel wasn't finished,” Watters continued, “First republic just got bought up by JP Morgan and guess who bought shares of JP Morgan right before the bank scooped up First Republic? That's right, Florida Democrat Lois Frankel,” Watters said. “Shares are up nearly 15 bucks since then. So Frankel is on both sides of the trade right before the news breaks both times. It's almost like she knows something no one else does. Well that's exactly it. But she won't admit it”
Watters blew apart Frankel’s excuse that her being on both sides of the trade was just an extraordinary coincidence:
“Her team released this statement from the congresswoman, quote: My account is managed independently by a money manager who buys and sells stocks at his discretion. Okay, sure. It looks like this Democrat has inside information that you don't. And instead of helping us make money, she is helping herself.”
But over at the Big Three? Nothing but crickets. But this shouldn’t be a surprise given that these are the same three networks who have routinely protected President Joe Biden and his allies from bad news that could taint their political images.
Conservatives are under attack! Contact ABC News (818) 460-7477, CBS News (212) 975-3247 and NBC News (212) 664-6192 and demand they cover Frankel’s stock controversy.