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View Full Version : Rep. Waxman: Newspapers Need Bailout




bobbyw24
12-03-2009, 06:04 AM
WASHINGTON – The newspaper industry is suffering "market failure" and the government will need to help preserve serious journalism essential to democracy, an influential US congressman said Wednesday.

"The newspapers my generation has taken for granted are facing a structural threat to the business model that has sustained them," said Representative Henry Waxman, a Democrat from California.

"The loss of revenue has spurred a vicious cycle with thousands of journalists losing their jobs," he told a meeting on journalism in the Internet age hosted by the Federal Trade Commission (FTC).

"While this has implications for the media it also has implications for democracy," he added. "A vigorous free press and vigorous democracy have been inextricably linked.

"We cannot risk the loss of an informed public and all that means because of this market failure," he said.

http://www.newsmax.com/insidecover/waxman_media_bailout/2009/12/02/293433.html

Mitt Romneys sideburns
12-03-2009, 07:27 AM
the government will need to help preserve serious journalism essential to democracy

huh?

coyote_sprit
12-03-2009, 07:31 AM
"We cannot risk the loss of an informed public and all that means because of this market failure"
Where the fuck has this guy been?