Former ABC anchorman Ted Koppel wrote an op-ed in the Washington Post in which he criticized cable news outlets Fox News and MSNBC, and equated the product those networks present to the pyramid scheme Bernie Madoff sold to investors, TVNewser reports.
Koppel wrote, "They show us the world not as it is, but as partisans (and loyal viewers) at either end of the political spectrum would like it to be. This is to journalism what Bernie Madoff was to investment: He told his customers what they wanted to hear, and by the time they learned the truth, their money was gone."
Koppel decried the damage he says cable news has done to broadcast journalism and to the country.
"The commercial success of both MSNBC and Fox News is a source of nonpartisan sadness for me,” he wrote. “While I can appreciate the financial logic of drowning television viewers in a flood of opinions designed to confirm their own biases, the trend is not good for the republic."