Henry Waxman, Waxman, who chairs the House Committee on Energy and Commerce,which has jurisdiction over the FTC, needs to understand that there are no bailouts for losers. It is time to stop the madness. From Breitbart.com comes this gem:
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.
Newsflash Mr. Waxman, in a capitalist society, there is no market failure bailouts; one either succeeds or one fails. It is how we weed out the weak and unreliable in the market. In a free market system, those who can’t succeed go under or file chapter 11 and rebuild-or that is the way it was until the 2009 Bailoutapalooza of the Obama administration, and the last year of the Bush administration.
Secondly, no one is going to believe that today’s newspapers are fraught with serious journalism, hence the toll of the death knell for them sounded as they became the propaganda arm of the Obama administration, or the Bush bashing rags they were from 2000-2008.
“The loss of revenue has spurred a vicious cycle with thousands of journalists losing their jobs.”
It is with great pleasure that I point out to you, Mr. Waxman, that if those “journalist” had spent more time reporting the news instead of indoctrinating a country, they would still be employed. Had those left leaning graduates of left leaning universities cared to be be unbiased NEWS gatherers, they would not be holding pink slips today.
No, no, we the taxpayers do not feel like bailing out those who once again cannot understand that lack of personal accountability is to blame for their loss of readership. When one shovels shit for a living, some people may stop by once, but not twice. No, their loss is their own fault and none of us taxpaying citizens feel like paying their way.
And so that also means these comments are nothing but BS:
“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.
All that means is that Fox News, reputable bloggers, active individuals that still care about unbiased journalism and the truth will never go out of style, but big media will.
“Eventually, government is going to have to be responsible to help resolve these issues and our whole society depends very much on reaching some resolution of the problem.”
To this I say, the problem is outlined above, and the newspapers do not need a nanny, just some accountability.