Why the media around the world loves bailouts
You know you can sense a kind of cheering in the media for more and bigger bailouts and rarely do you hear voices of concern in the deceasing matter. If you look deep and have read my previous article on why the media might need its own bailout its quite clear that they might not need their own bailout - a bailout of other failing industries is enough to sustain this failing industry as well. Here is a chart to think about if you want to trust the mass media with any information on any bailout - and let me say the US is just an example the list is pretty much the same (just switch us car makers and banks with local car makers and banks). So here is the list of the top advertisers of the american mass media market. There should be a light going on in your head - if not you might be living in a cave.
| 2007 Advertising Expenditures By Bailout Targets | ||
| Company | Amount (000's) | |
| General Motors | 3,010 | |
| Ford | 2,525 | |
| Toyota | 1,758 | |
| Chrysler | 1,739 | |
| Bank of America | 1,491 | |
| Nissan Motor | 1,407 | |
| Honda | 1,326 | |
| Citigroup | 1,135 | |
| JPMorgan Chase | 1,074 | |
| American Express | 1,050 | |
| Capital One | 757 | |
| Hyundai | 651 | |
| Visa | 581 | |
| Allstate | 537 | |
| Fidelity | 499 | |
| MasterCard | 489 | |
| Progressive | 460 | |
| Washington Mutual | 445 | |
| State Farm Mutual | 431 | |
| Wells Fargo | 356 | |
| Total: | 21,751 | |
Hmm 21 billion of advertisment revenues - the top 20 - and all thats in it is cars and banks. Empty words like "too big to fail" and "5 million jobs" and "end of world" take on a whole new meaning if you look at it from the perspective of the media industry. They might be just talking about them self instead of the banks and the cars.
From the excellent media death watch blog newscorpse.