The government is trying to figure out how to 'save' the press. This feeds right into my blog post from Friday about government interference. It doesn't take a genius to figure out that a press subsidized by the government will 'self-censor' and be a midwife to whatever schemes the govt wishes to do (worse than they have been the last 20 years). This would hurt the freedom of the press. It would alos create a subset of the media that will operate at a low cost compared to unsubsidized competition.
1. Why are we bailing out a company that has not changed their format?
2. Why bailout this subset of the industry out and not others?
3. Why not allow a news corp to file bankruptcy and be bought by a private investor and changed? Companies buy news media properties all of the time. GE took advantage of NBC, MSNBC and CNBC while they could.
4. How could this be twisted by a 'bad guy' taking control of this mechanism of power?
Numbers 1-3 will be given maybe 2 seconds of thought by the current Congress just like the Health care reform and Financial reform that less than half the population supported and are so confusing that the dirty secrets of those bills are being exposed now. Number 4 should cause all of them to pause for a good long while. Imagine a POTUS with Clinton/Reagan charisma, charm and communication skills combined with Wilson's brutal crushing of any dissent (go look up how many war 'protestors' he locked up) and Nixon's superb instincts and Machiavellianism. It would be scary. Let the big papers shrink, change or fail. Keeping zombie banks around is the same insult to the rest of the industry, and the nation's taxpayers, that keeping zombie banks alive is.