New York ? CNN financial journalist Lou Dobbs on Thursday denounced as “frivolous” charges that he might have a conflict of interest in making commentaries on auditors Arthur Andersen.

Dobbs, host of the nightly financial news program “Moneyline,” has editorialized on his show against the Justice Department’s indictment of the firm for obstruction of justice. Newspaper reports, especially in The Wall Street Journal and The New York Times, have questioned whether Dobbs’ past ties to the company represent a conflict.

CNN financial journalist Lou Dobbs speaks at a press conference in New York in this April 2001 file photo. Thursday, Dobbs denounced charges that he might have a conflict of interest in making commentaries on the auditor Arthur Andersen.

Dobbs has acknowledged accepting a speaking fee from Andersen and hiring the company as auditor for an Internet venture he started while on hiatus from CNN. The company also sponsored a weekend show where Dobbs was host on CNN from 1997 to 1999.

“I don’t understand the allegation,” Dobbs said during an appearance on CNN’s “American Morning” Thursday. “Every newspaper person in this country, every magazine writer in this country, every television journalist has advertisers. What’s the big deal?”

Dobbs said he believed anyone at Andersen who committed crimes in the Enron case should be prosecuted, but that he was speaking up for the innocent people being hurt at the auditing firm.

Reporters “who don’t like my position or want to connect some rather frivolous and, I think, rather tenuous dots and impugn the sincerity of my position, I think they’re the ones who have something to answer for, certainly not me,” Dobbs said.

On CNN Thursday, he continued the assault on the Justice Department that he has been making on “Moneyline.” He called the indictment an “utterly wrongheaded and egregiously abusive demonstration of raw power against innocent people.”

Dobbs was the keynote speaker at an Andersen-sponsored event in Houston in 2000, according to The Wall Street Journal. It was not clear what he was paid.

Dobbs questioned how a speaking fee would influence him considering his high salary. “Just think of the economics of it,” he said.

He also said Andersen audited his Internet business, Space Holdings Inc., which started a space-oriented Web site. Dobbs gave up his controlling interest in the company upon rejoining CNN last year.

Dobbs said he voted for President Bush and gave money to his campaign.

“I am attacking a position taken by this administration’s Justice Department,” he said. “If anybody thinks that’s easy for a lifelong Republican, they’re crazy.”