What happens when a supermodel stakes out a position on international currency trading? If you're Bloomberg News, you get an easy Bush-bashing opportunity:

Gisele Bundchen wants to remain the world's richest model and is insisting that she be paid in almost any currency but the U.S. dollar.

Like billionaire investors Warren Buffett and Bill Gross, the Brazilian supermodel, who Forbes magazine says earns more than anyone in her industry, is at the top of a growing list of rich people who have concluded that the currency can only depreciate because Americans led by President George W. Bush are living beyond their means.

The rest of Bloomberg's long article never explains how President Bush has "led" Americans into "living beyond their means." In fact, it never again mentions President Bush or any policy of his administration, nor does it explain what "living beyond [our] means" means, or how it relates to the value of the dollar. Presumably the reference is not to the fast-dropping federal budget deficit, already proportionately lower than that of most major European countries; but if not that, then what?

No matter. Only bad news is news, and all bad news is laid at the door of the Bush administration.

UPDATE: Gisele pleads innocent; her sister and spokeswoman says it was all a "joke by some journalist:"

The sister of Gisele Buendchen, the world's top-paid supermodel, on Wednesday denied reports that her famous sibling has insisted on payment in euros rather than the declining US dollar.

Patricia Buendchen, who also acts as the supermodel's agent, said press and Internet reports quoting her famous twin sister as spurning the US unit for Europe's much-stronger currency in her contracts were "not correct".

"It's a joke by some journalist, it's ridiculous," she said.

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Posted by John at 8:23 PM  |    |