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COMMENTS: Ross Retraces Palmer’s Footsteps
ABC attached an Investigates logo to Brian Ross' report on Joseph Cassano, the 54-year-old London-based trader even though there was little evidence of anything newly investigated. Give Ross credit for his clear use of layman's terms to describe Credit Default Swaps: Cassano committed American International Group "to cover or insure what turned out to be more than $1tr of junk-quality loans held by banks," which is no bad effort. However, his coverage of the FBI's attempts to nail Cassano down on fraud charges did little to advance the story. It included the same stakeout of Cassano's London townhouse that Elizabeth Palmer used for CBS two weeks ago and Ross even ran the same excellent "without being flippant" soundbite that Palmer quoted.
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