July 7, 2011 – EzKool

Rupert Murdoch’s U.K Paper Shuts Down Amid Phone Hacking Investigation

Rupert Murdoch, owner of Fox News and the United Kingdom’s “News Of The World” news paper, got some bad news today. The 168 year old paper is shutting down, publishing its last paper this Sunday amid an ongoing investigation into the company’s authorization of phone tapping.

BBC reports a statement from the current chairman of News Of The World, Murdoch, advising his staff of the decision to close the paper.

In a statement made to staff, Mr Murdoch said the good things the News of the World does “have been sullied by behaviour that was wrong – indeed, if recent allegations are true, it was inhuman and has no place in our company”.

“The News of the World is in the business of holding others to account. But it failed when it came to itself.”

He went on: “In 2006, the police focused their investigations on two men. Both went to jail. But the News of the World and News International failed to get to the bottom of repeated wrongdoing that occurred without conscience or legitimate purpose.

“Wrongdoers turned a good newsroom bad and this was not fully understood or adequately pursued.

“As a result, the News of the World and News International wrongly maintained that these issues were confined to one reporter.

“We now have voluntarily given evidence to the police that I believe will prove that this was untrue and those who acted wrongly will have to face the consequences. This was not the only fault.

“The paper made statements to Parliament without being in the full possession of the facts. This was wrong.

“The company paid out-of-court settlements approved by me. I now know that I did not have a complete picture when I did so. This was wrong and is a matter of serious regret.”

He reiterated that the company was fully co-operating with the two ongoing police investigations.

Bill Clinton Blames Republicans For Present Economic Woes

Former President Bill Clinton blamed Republicans in Congress for the state of the economy. Mr. Clinton called out the GOP as hypocrites for implementing massive tax cuts and increased spending during the Bush administration, policies that directly contributed to the present recession.

Speaking to a group of liberal group activists in Washington, Clinton said, “”Partly because the Republicans who control the House and have a lot of pull in the Senate have now decided, having quadrupled the debt in 12 years before I took office and doubled it after I left, that it’s all of a sudden the biggest problem in the world.”

The former President, who opposes spending cuts in a downward economy, again expressed his concerns with the present budget talks, and he referenced the United Kingdom and their mistake of cutting spending at a time when spending should have been increased. Clinton continued;

“In the current budget debate, there’s all this discussion about how much will come from spending cuts, how much will come from tax increases, and almost nobody is talking about one of the central points – that everyone who’s analyzed the situation makes, including the bipartisan Simpson-Bowles commission, which said you shouldn’t do any of this until the economy is clearly recovering.

“Because if you do things that dampen economic growth, and the U.K. is finding this out now, they adopted this big austerity budget, and there’s a good chance that economic activity will go down so much that tax revenues will be reduced even more than spending is cut, and their deficit will increase.”

President Obama meets today with both Republican and Democratic leaders to discuss the debt ceiling. Democrats have offered about $3 trillion in defense and other spending cuts and they have asked Republicans to agree on closing some tax loopholes that benefits millionaires and billionaires. Republicans have so far, dismissed this proposal and have demanded Democrats leave these loopholes alone.