Even the mass media is starting to take notice of the longtime cozy relationship that both the U.S. Treasury Department and the Federal Reserve Bank have with Goldman Sachs, a major Wall Street bank holding company and Democratic Party donor.
If you understand the relative superiority of the free market, none of our government's recent business bailouts will find favor with you. Yet, while Uncle Sam's involvement in the auto and banking sectors is bad enough, nothing is more bone-chilling than proposals to bail out media.
With plunging advertising revenue across the industry, McGraw-Hill is reportedly putting BusinessWeek up for sale. The company said only that it is exploring “strategic options” for the magazine so far, but according to sources cited in Bloomberg, The New York Times and The Wall Street Journal, investment bank Evercore Partners Inc., has been hired to facilitate the sale.