On the March 24 edition of Fox News' Your World with Neil Cavuto, Michael Norman, Fox News business contributor and founder of Economic Contrarian Update, compared judicial rulings in the Terri Schiavo case to "malicious prosecution" of the insurance industry and warned that "[i]t's starting to constrain the economy" and "[u]ltimately, it will be dangerous to the stock market":
CAVUTO: Mike, what do you think of that, people [on Wall Street] too distracted [with the Schiavo case to focus on investing, economics, etc.]?
NORMAN: People are distracted, but that's a small part of the picture, Neil. What we have going on here is nothing short of a constitutional crisis in my opinion. You know, we have separation of powers in this country -- that's our government. But this is the judicial branch run amok, and it is going to -- first of all, I think there's a lot of outrage. I think there's a lot of anger, and more importantly --
CAVUTO: Anger on the part of whom?
NORMAN: On the part of people in this country. And more importantly, I think the world --
CAVUTO: Anger that this is happening to Terri Schiavo?
NORMAN: Yes, anger that this is happening to Terri Schiavo. And the world is looking at the United States, and they're seeing this basically judicial branch of government taking over. It's an encroachment, and we're seeing it also in other forms -- legislation from the bench -- and I think that's very dangerous to our institutions, it's dangerous to the economy, and ultimately, it will be dangerous to the stock market. I've never been worried about this outflow of money on the part of foreigners, but if they lose confidence, and they're seeing this unfolding here, we could have this problem.
NORMAN: Neil, this is part -- this is also -- this is part of a bigger picture, I think, of more regulation, more intrusion, more constraint, even more malicious prosecution, I think, in some cases, and it's starting to constrain the economy. We're seeing whole industries under attack, the insurance industry being one. I think it's --
CAVUTO: But Terri Schiavo's husband and her lawyers are saying this is precisely what our judicial system should be doing, not --
NORMAN: Well, this is what the judge -- this is, again, an example of outrageous judicial encroachment. Look, it's separation of power, it's separate but equal. The fact that the Florida governor wants to have his case heard, and the bench, the judge says, "No, we're not even going to listen to it" -- it's separate but equal. It should have been heard.
CAVUTO: And that loosens confidence on Wall Street?
NORMAN: I think absolutely it loosens confidence because we can't have a society where you have three branches of government, and if one is out of control, I think that you've got problems.