five-network counterattack. >> the truth is that i left any role at bain capital in february of '99. said good-bye to my colleagues. they took over the business. this is reckless and absurd on his part. >> this magazine cover says the internet is driving us all crazy. not just distracted by gadgets, but in the serious. mental illness, depressive/obsessive/compulsive sense. is that nuts? plus, diane sawyer taking a very different approach to the nightly newscast than brian williams and scott pelly. >> we begin with a big break in a very cold case. the disappearance of 6-year-old etan patz. many of us first saw his face on the side of a mix calk carton -- >> is abc going softer or giving viewers really what they want? i'm howard kurtz, and in this i "reliable sources." it has been nothing short of a barrage with fresh artillery nearly every day. the "washington post" reports that mitt romney's firm, bain capital, funded companies that shipped american jobs overseas. "vanity fair" reports on romney's private bank accounts in other countries. "the boston globe" reports that romney remained the ce owe at bain three years after he said he left. this remarkable week began with blasting on the airwaves and jumped to more media reports and coverage about romney's wealth and business background. >> the new detail on bain, the swiss bank account issue, even his own surrogates calling for his tax returns. >> he was a terrific businessman. he's done well. and he has paid every bit of his taxes. this is a man who's living by the law. that is it. >> mitt romney made a lot of money being in charge of a company and claiming that he had no responsibility at the same time. >> first it's the cayman islands. now they're saying he might be indicted because he worked at bain longer than he said. this is how absurd things have gotten. >> you can say a lot of stuff about mitt romney, unfeeling, out of touch, stiff. but a felon he's not. >> romney fought back on friday with a media counteroffensive. interviews are nbc, abc, cbs, cnn, and fox. joining us to examine the media's performance here in washington, erin mcpipe, political editor for real clear politics. jennifer rubin who writes for "washington post" and a cnbc contributor, and clarence page, columnist for "the chicago tribun tribune". you're obviously sympathetic to the romney case. what about reports about his finances and business record is unfair? >> i think there is a noxious cycle that the media is not being very honest about. much of the information from these stories coming from the obama campaign. sometimes incorrectly, sometimes sp spottily which leads to stories. the obama campaign uses it for fodder, for ads on the air, talking points. the media then reports there. there's this symbiotic relationship developing that is not fair, that is not transparent, and that is not honest. >> on that point, clarence page, stephanie cutter, the campaign manager said on "face the nation" when asked about all of these allegations, it's not the obama campaign making allegations, it's independent reports in the press. what about jennifer described as a symbiotic relationship? >> well, if there really was a relationship such that the media are being stenographers, taken dictation from theike campaign, she would be right. these are reputable media we're talking about here, the "boston globe," "time," "washington post," et cetera. these are publication that's check things out before they go into print. and so we can say that these are independent media reports to that degree. as far as tips go, howard, you're going to take a tip from anybody. i'm going to take a tip from anybody and follow that up and make a story out of it. >> i -- >> part of the problem is that romney campaign, when reporters, for example the "washington post" reporter came back to it, the romney people were exceptionally unhelpful in trying to explain their position, trying to give other side. to the point that they're being beaten by the media cycle, parts of that is their own doing. i think they'll take a slightly different tax. it's been unhelpful for them. >> i want to say one thing. many of these tips as we're talking about are coming not really from the obama campaign but instead from the democratic super pacs that are supporting obama, priorities usa and the bridge. we talk about super pacs with ad dollars, but the democratic super pacs have less money to spend. they're digging up research on mitt romney. that's where a lot of this is coming from. another effect of this -- >> let me say, these are reputable news organizations, clarence page. these are legitimate stories. the subject is fair game. romney's running on his record as a businessman. but what i think a lot of people in our business miss is the sheer tonnage hear, the 24/7 nature of it, makes the media look like it is only pounding one candidate and, perhaps, is carrying the obama message. conservatives look at this barrage and say, when has barack obama gotten this media screening? >> they certainly are. here's the thing -- so many conservatives now are calling on mitt romney to release more of his years of tax returns. so it's not that republicans are really coming to mitt romney's defense in any great nature now either. >> the stories on bain capital, "the boston globe" had had a couple of stories in recent days pointing out what the company filed with the sec was that he was the ceo. he was the stole stockholder. he says yes but that he had left, had no active role. some of this previously been reported as "the globe" has acknowledged by talking points memo. it caused a media explosion. your point is that the romney camp in terms of its dealings with the press has not dealt well with the media explosion. >> that's correct. and i think what we have here also is the phenomenon that political reporters are dealing with very complicated economic transactions. so if they get a surface or -- an editor shortens a phrase or condenses something, the accuracy of the nuance is lost. the obama campaign will then reach into that story, pull it out, out of context, and run with it. that's happened in the outsourcing story, that happened in the resignation from bain capital. so some of the fault here has to do with a lack of nuance in the reporting and the headlines that go to. it the headline in that "washington post" report was much more misleading than the substance of the report on outsourcing because, in fact, he had not contributed romney specifically in terms of outsourcing be jobs. i think you have a noxious connection of factors that makes for this fiermstorm. >> there are disputes over details of some of the stories. by and large, you know, romney was listed as ceo for three years after he said he left. he does have offshore accounts. how much voters care about this is another story. but it seems to me, clarence, that the -- this has become the dominant story of the campaign in terms of media coverage. >> right now, yeah. i -- i laughed when you said when has obama had this kind of scrutiny. four years ago, remember a fellow named reverend wright out of chicago? back then i was saying the same thing. you know, he's been reported out of context. yeah, the guy is eccentric, blah, blah, blah. >> the only time in the campaign that i think you have a point. what about now? >> the only time? >> is there any danger that all of this is seen by people out there as overkill by the media? as pounding one candidate and not the other? is that a risk? >> people aren't that engaged with it. really, howard, this is a slow summer story that takes on legs of its own. it is significant. i mean, romney has based his campaign, based his qualifications for office on his experience with bain capital. and it -- it's fair game for the rest of us to look at that. if we didn't, people would be complaining like it like conservatives were complaining that people weren't looking at barack obama enough. >> president obama has taken a beating throughout the entirety of his first term by the media, almost four years. >> of course, this is personal in nature. face it, this is what the bush campaign tried to do to john kerry to disqualify a presidential candidate. taking his greatest strength and trying to turn it into a weakness. i'm fascinated by what you said, that research is being dug up by democratic super pacs, organizations supporting obama. is there anything about that that trouble you? obviously reporter check this stuff, but it does seem to folks that there's a cozy relationship here. >> the more they dig up and the more they can prove to donors, the more money that the super pacs make. yes, it does help the super pacs stay alive when they give stories successfully. >> i get like 20 emails a day from the dnc saying, look at this "boston globe" story, this "washington post" story. et cetera. let's turn now because what's faus nigfascinating to me is th mitt romney has not been terribly accessible to media organizations outside of fox news, with some exceptions. for him on a friday afternoon to do the five-network blitz as he did was very significant. let's look at some of the questions that were asked and some of romney's responses. >> no responsibility for what happened to that country even though the sec forms list you as chairman and the chief executive officer and president of the company? >> how do you explain that your name is on these feelings? >> the obama campaign is saying that you completed a felony by lying to the sec or that you're lying to the american people. >> i think this kind of statement from the obama team is really shocking. it's ridiculous. and it's beneath the dignity of the presidency. >> your reaction to those interviews? >> well, i think they were fair. these were the questions of the week. i think romney answered them. and i think part of the issue that's going on here is that although barack obama received scrutiny, continues to receive scrutiny, the level of incredulousness by the media when it comes to mitt romney is entirely different than the president. i think they take -- >> the tone? >> the tone, and i think they take what the obama campaign gives them at face value. and they often repeat it. whereas -- >> it's unfair because that suggests that there's no independent checking by reporters who are experienced at doing this sort of thing. >> or not able to again because the romney people won't check it or won't give them necessary information. i think the level of skepticism about everything romney says and does, even in the absence of any information -- there is no one out there, you know, we've talked to bain people, you've sign seen romney's work, people at the olympics that say he didn't have input or interaction with bain at that date. that was a misleading story by th"boston globe." he was listed on the documents, but no one said he had any operational control or input. no one has. >> but "the globe" came back with a second story in which there were press releases and comments by romney or bain indicating that he still was aware of some of the things that were going on. and he was being paid -- he was -- why was he paid $100,000 a year? my point, you keep talking about how the romney campaign has handled it or mishandled it. by waiting so long to respond in person by doing the five-network interviews wasn't the romney campaign basically allowing the obama folks to set the media narrative here? >> that's what's dangerous here. this reminds me of john kerry and the swift boat story. which he waited three weeks to respond. the fact that the normally rather reclusive romney is doing a blitz on all the channels tells me that inside the campaign they're saying, hey, we better respond to this. this is not going away. >> let me follow up on something that clarence said. i had the fortune to take a short vacation on a romney -- a romney-style vacation, vacation with the family. out there in the united states, i don't think people are following this at all. and that's why the polls remain completely deadlocked. people are out doing their own thing. they see the general pattern, the general back and forth, and i think it goes over their heads. i don't think they care. i don't think they focus on it. >> this is complicated and may be a media obsession now. of course, if this remains a major theme of the campaign, it will eventually penetrate. >> sure. but the bottom line is this -- the stubbornly high unemployment rate is no longer news. the lack of specifics that we're getting from president obama on what he would do in a second term and also from mitt romney on his economic vision is no longer news. everything we learn about mitt romney is news. >> i'm sure you would agree, though, that the stubbornly high unemployment rate is -- >> the key issue in the campaign, of course. >> news to the 14 million people who are unemployed even though it's not a fresh story for the media except when job reports come out. let me get in on this about the tone of the coverage. is it unfair to question why romney has released only one year of tax returns? he's promising a second now. is it unfair to talk about his cayman island accounts? is there an undercurrent in reports about this is kind of a rich guy, he must be hiding something, or not? >> it's not unfair because when you run for president, everything is fair game. >> but the tone -- >> that's right. i think -- we're talking now about a country where most of the people made up their minds already who they're going to vote for. narrower and narrower sliver -- >> 106 people -- >> yeah. we're talking about people in swing states who are still undecided. a narrow group. but they're also low information voters, as david axelrod calls them. meaning that anything they hear now about the candidates is going to have an impact. so -- >> i'd like to get you on the record on jennifer rubin's suggestion that the tone of these media questions, fair questions, fair subject, whether the tone is unfair or incredulous or somehow unfair to romney. >> i think -- the tone to me has been pretty straightforward. the fact is that people have legitimate questions about romney's financial background. i -- i'm willing to give him the benefit of the doubt. i think his answers were good answers. if you haven't got more evidence than you do now of wrongdoing, the talk of criminal wrongdoing is really over the top. >> all right. i'll going to let you button up that segment. we need a to see take a break. coming up, why all the media talk about condoleezza rice for vp? 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"romney narrows v.p. choices, kondy front-runner." the media were off to the races. >> now to reports surfacing overnight about the surprising name at the top of mitt romney's vice presidential list. former secretary of state condoleezza rice. >> buzz building around mitt romney's v.p. choice. condoleezza rice is reportedly at the top of the list. >> we're seeing reports that there's now a short list of possibilities, and the biggest name on that so-called short list is the former secretary of state, condoleezza rice. >> erin mcpike, why did so many media outlets cover this blip on "drudge" when most journalists think there's no chance of this happening? >> it's widely accepted that that leak came directly from the top of the romney campaign because romney's campaign manager, matt rhodes, is close to matt drudge -- >> i think that's an overstatement. when you say wade lwidely accepe don't know where the leak came from. >> that's true, but we take it that they were deflecting from the issues we were talking it, these reports on bain. yes, deflection is the bottom line. >> i actually think that's not the case. the romney people, with respect to most of the v.p. candidates, simply say nice things and don't comment upon their v.p. prospects. with condi rice, many disclaim interest. i don't think they have interest at putting her atop the stage. i think this is matt drudge doing what matt drudge does brilliantly, create a story out of nothing. >> you say nothing, but that suggests that he made it up. i'm sure he spoke to somebody -- >> i'm sure there are donors who went to that event and were impressed by her speech and came whispering into romney's here saying i'm sure -- into drudge's ear saying i'm sure she's atop the list. >> to briefly summarize, she has said repeatedly that she doesn't like electoral politics and has no interest in being v.p. she is pro-choice, and she, of course, you know, was such -- close to george w. bush, she brings up the iraq war and weapons of mass destruction and all of that. so some of the journalists purport it to be fair by saying drudge reported it but there's not much time of it happening. they still gave it airtime. why is that? >> man, i was with my good conservative buddy, pat buchanan, when the news broke on this. and he was just outraged at the notion. that's how many conservatives view a possible -- possibility of condi rice as a candidate. many on the left are outraged over her connections to the iraq war, et cetera, et cetera. and she herself has expressed no interest. i take her at her word. but kbryeah, for one thing, dru has credibility with reporters because they all have -- many as their home page. i've seen this. because of exposure to it. when he has a big headline, folks say, well, drudge is well connected with the romney campaign and others, must be something to this. you know, there's no other evidence anywhere, howard. >> sometimes his scoops are right. this one, i think we're going to look back and say, eh -- >> that's right. she's never been a candidate, for one thing. it would be very juicy because she would be, again, new to the campaign send of political arena. >> we've known that matt drudge drives a lot of traffic on line. we know he can get the entire media establishment on a friday in july to chase a story that he puts up on his home page. clarence page, jennifer rubin, erin mcpike, thank y