An encroachment on freedom of the press?

The Financial Supervisory Commission has gagged a Taipei stock market analyst for one month for misleading readers of his newsletter, which he calls Wan-bao magazine (“Ten Thousand Treasures”). Chu Cheng-chih, the analyst, doubled, tripled or even quadrupled the fall in the bear market in a recent issue of Wan-bao. The misreport, which he corrected in the following issue, deserved the gag order, according to the financial watchdog body under the Executive Yuan. The real reason, however, may be that the newsletter publisher called Ma Ying-jeou the “stupid president.” Appearing before a TV camera after the gag rule had been announced, the stock market analyst lauded President Ma as “wise” and “outstanding.”

We do not know whether Wan-bao is a member of the press. If it is, the commission has encroached on freedom of the press and must be so condemned. If it isn’t, the commission has obstructed freedom of speech. Probably there is a set of rules the commission can apply to control stock market speculation that may be triggered by uncouth analysts. But those rules are unconstitutional. The Constitution specifically stipulates “The people shall have freedom of speech, teaching, writing and publication.”

Should there be mistakes in a newsletter, including Chu’s calling Ma Ying-jeou the “stupid president,” all that is necessary for redress is a retraction or a correction with an apology. Not a gag order! Of course, President Ma may initiate litigation against Chu for defamation or even libel, but that is their business; the commission has no right to poke its nose into it.

Mr. Chu certainly isn’t a journalist. But we are certain he knows his freedom of speech, teaching, writing and publication is guaranteed by the Constitution but has been intimidated into submission by toadies in the commission.

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