If you are interested in the latest scandals concerning Air America Radio, but haven’t been following developments closely, I suggest you first get the MSM’s take on it by reading Fortune magazine’s article:

Air America’s Long, Odd Summer

To liberals, corporate double-speak and financial shell games rank as cardinal sins. That’s why it’s been jarring to see the progressive talk-radio network Air America accused of the kind of maneuvering that the Al Frankens of the world would normally rush to condemn.

Hmm, I think the word you’re looking for is hypocrites.

Founder Evan Cohen, an entrepreneur from Guam, was fingered as the main culprit—though he proclaimed his innocence—and ousted. Then, in June, the New York City Department of Investigation announced a probe of financial improprieties at a Bronx Boys & Girls Club. A key player, it soon emerged, was Evan Cohen, who had been holding down a job at the Bronx group while launching Air America. Cohen allegedly helped engineer an $875,000 loan from the nonprofit (Boys & Girls Club) to the merely unprofitable (radio network)

This article treads very lightly. There’s no mention that the illicit loan may force the Boys & Girls Club of America to drop the Gloria Wise Boys & Girls Club in the Bronx from its ranks at a vote next month. Nor does it say that New York City stopped $9.7 million in funding for programs for 22,000 schoolchildren, disabled adults, and elderly Alzheimer’s sufferers because of the Gloria Wise loan to AAR. But they do report on the newest dispute alleging that, according to Randy Mastro of Gibson Dunn & Crutcher, who represents MultiCultural Radio Broadcasting, “Air America engaged in the oldest trick in the book. They tried to reorganize themselves to avoid paying their debts.” The debts in part being a $255,000 judgment that AAR lost in a suit against MultiCultural.

Read the whole article, then go to Michelle Malkin’s site where she and Brian Maloney are providing much more coverage on Air America’s dubious financing.