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Media Cannot Be Trusted On Financial Matters: Tom Krisher and Ken Thomas Are Industry Shills

There are now billions of dollars up for grabs.  Lobbyists are being paid millions to bring these billions to their clients.  Lobbyist feed stories to journalists.Journalists are fools on financial matters, as anyone who has read the stories surely knows.  Today's story was a fantastic example of journalists-as-PR-agents: DETROIT (AP) -- Advocates for the nation's automakers are warning that the collapse of the Big Three -- or even just General Motors -- could set off a catastrophic chain reaction in the economy, eliminating up to 3 million jobs and depriving governments of more than $150 billion in tax revenue.No shit?  You mean that lobbyists (er, "advocates") are claiming that all of us will die if their clients aren't given billions.  Really?  That's journalism?  It gets better:"We've got to do this because the cost of inaction is so high to communities, to workers, to companies," said Sen...continue to full post

Full post as published by Crime & Federalism on November 13, 2008 (boomark / email).