What does Independent Vermont Sen. James Jeffords have in common with former WorldCom chief Bernie Ebbers? How about a penchant for cooking the books and engaging in a little nefarious accounting practice.
(to steal a phrase)
SatireWire | One Nation, (Sponsorship Opportunity Available)
I PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA, AND TO THE REPUBLIC FOR WHICH IT STANDS, ONE NATION, (SPONSORSHIP OPPORTUNITIES AVAILABLE), INDIVISIBLE, WITH LIBERTY AND JUSTICE FOR ALL
Commentary / Edward Monks: The end of fairness: Right-wing commentators have a virtual monopoly when it comes to talk radio programming – The Register-Guard, Eugene, Oregon, USA
Ok, that’s a bit overblown. What he is talking about is not an end to free speech, but a balance on call-in radio shows between the “right-wing” and the “progressives”. I have heard all these arguments before, as had most everyone. If a radio host goes on the air with left-wing views, they don’t seem to get the ratings. This causes the radio station to cancel them because they are not making them any money. If someone can do a left of center show and make money, I am sure the radio stations will be more than happy to let them. Look at the SF bay area powerhouse KGO. They have Bernie Ward, Ray Talifferio(sp) and many other left of center hosts and they do just fine. They’re just not getting syndicated as much as the right-wing shows.
A while ago a Portland radio host who was left of center got together with others of like mind and started a radio station, KPAM billed as Radio Free Portland. So what happened. The host Bill Gallegher and the other left of center hosts are now gone. The radio station is still there but I guess the investors, sympathetic as they may have been, didn’t like pouring money down a rathole.
The attorney, being an attorney, sees the solution not as more interesting left wing radio hosts, not as starting his own radio station, but (are you ready) return of the Fairness Doctrine. That’s right folks. If left wing radion personalities cannot attract an audience on their own, the government should do it for them. You know what they say about “if all you have is a hammer, every problem looks like a nail” well if you’re a lawyer, everything should be settled in the courts.
The state Democratic Party pocketed $25,000 in donations raised for an award in the name of former Gov. Michael S. Dukakis – leaving the young award-winner with nothing but a glass etching of Dukakis’ head.
After all, It’s For The Children.
Assuming WorldCom did, in fact, lose money in 2001 instead of making profits, the fact is, it didn’t make profits — and this certainly cannot be attributed solely to fraud, since the losses would have been the outcome of honest accounting. The tragedy of WorldCom is that, by improperly inflating pre-tax profits (if that is, in fact, what it did), the company ended up paying billions in taxes to the U.S. government. In the three years from 1999 to 2001, while its stock price was falling, WorldCom paid nearly US$7-billion in taxes — or roughly 40% of its pre-tax income. If, in fact, the profits were “illusory,” we’d expect the U.S. government to return some of the tax payments to WorldCom shareholders. Since it won’t, one further fraud will follow another.
An angle on this that I certainly hadn’t thought of.
Thanks to Bill Quick