House Dems are asking the Treasury Dept. for funds for minority owned broadcasters who are struggling. In a letter to Treasury Sec. Geithner they argue that minority-owned broadcasters are sound businesses, but that the recession could undermine the government’s efforts to diversify the airwaves. They are looking for continued access to capital to continue their otherwise fundamentally sound operations,the members write.
You can guess who is part of the letter. Charles Rangel, Barney Frank, Barbara Lee and Bobby Rush among others. My question is, if these are so fundamentally strong why do they need bailing out? Like every other business if it is a good idea with a good plan it can succeed. There are ups and downs all the time. These are business' that were barely making it when the economy was good. This is like saying "I have this great product that would have made me rich but the public was too stupid to realize its value".
Where do these bailouts stop?
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