Monday, August 28, 2006

Mainstream Media Fails Once Again

Last week, media touted the lasted breakthrough in stem cell research – a method that promised to extract stem cells without destroying the embryo – as the long sought answer to the stem cell debate. Unfortunately, they only read ACT’s press release and neglected to actually read the research. In the current issue of The Weekly Standard, Wesley J. Smith discusses the media’s failure to fact check in ‘Science by Press Release’.

Now that the truth has come to light, some mainstream media is at least offering more accurate reporting. Newsweek has an article which spells it out: “A more careful examination of Lanza's work showed he'd only proposed a new method, but hadn't in fact proved it worked from start to finish.”

The immediate overreaction to the news also played out in ACT’s (ACTC.OB) stock price, which from a low of 0.27 last week, rose to a high of 2.32 on Thursday and traded at 150x its average volume. On Friday, when it became clearer that this was all a bunch of hype, the stock dropped, closing at 0.96. This morning, it continues to decline.

Though I have no opposition to embryonic destruction, I do take issue with the way the left is manipulating millions of Americans by convincing them that embryonic stem cell research will provide miracle cures in the immediate future for everything from Alzheimer’s to diabetes if only Bush would lift the ban, without acknowledging that promising gains are being made with adult stem cells, that not much progress has been seen so far with embryonic stem cell lines so the first cure may be long off and the most important fact – there are no restrictions on private research, meaning corporations, charities, donors can all step in to make up for the lack of government funding.

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