Wednesday, July 14, 2010

Food Stamps For Journalism: Columbia President Lee Bollinger Writes Wall Street Journal Op-Ed Begging to Subsidize Old Media

Columbia University President Lee Bollinger writes an op-ed in the Wall Street Journal asking for a government bailout of journalism:
American journalism is not just the product of the free market, but of a hybrid system of private enterprise and public support. By the middle of the last century, daily newspapers were becoming natural monopolies in cities and communities across the country.
A monopoly is a government granted barrier to entry in a market. One town newspapers aren't monopolies. Lee Bollinger makes over a million dollars a year and is a director of the New York Federal Reserve Bank. If Lee Bollinger and his wealthy friends wants to fund investigative research : there's nothing stopping them.