Perhaps the defining moment of Shepard Smith’s lengthy career was Sept. 2, 2005, during one of the most horrific moments in American history post-9/11. Smith was out of the studio reporting live from New Orleans and the aftermath of Hurricane Katrina and appearing on Sean Hannity’s highly rated prime-time show, then co-hosted by Alan Colmes. It doesn’t take long listening to Smith to know he has a personal connection to the South — he’s from Mississippi — and his reporting that evening lent a personal touch. “Over there, there’s hope; over there, there’s electricity,” Smith said, refering to the adjacent city of Gretna, which had been blocked off by a government checkpoint. Hannity interrupted and asked for some perspective. “That is perspective! That is all the perspective you need,” Smith said. It was a powerful...