Page one exclusive

This story certainly should be one of the biggest of the year:

"At the end of the Iraq war, vast sums of money were made available to the US-led provisional authorities, headed by Paul Bremer, to spend on rebuilding the country. By the time Bremer left the post eight months later, $8.8bn of that money had disappeared."

The allegations go to the heart of American claims about the war and its ability to mismanage a post-invasion environment.

Alas, the Fairfax press today prefers to focus on the young children of Rupert Murdoch. Grace, 3, is "just another pretty-in-pink American pre-school heiress hand in hand with her septuagenarian billionaire dad."

Let me get this straight. A rival media company writes a profile about a competitor's children and calls it news. The war in Iraq, in which Australia played a small but important role, is deemed less relevant. Good to see their news judgement is up to scratch.