Mortgage Madness, Media Diversity and World Car Free Day

The bailout of mortgage giants Fannie Mae and Freddie Mac is attacked as unfair to responsible consumers.

The Federal Communication Commission considers reinstating the “Fairness Doctrine” in order to encourage diversity in broadcasting.

Activists prepare to celebrate “World Car Free Day.” 

More headlines: listen to the CEI Weekly Podcast.

1. BUSINESS The bailout of mortgage giants Fannie Mae and Freddie Mac is attacked as unfair to responsible consumers.

CEI Expert Available to Comment: Special Projects Counsel Hans Bader on how this crisis was created:

“Taxpayers are now in the process of bailing out the ‘Government-Sponsored Enterprises’ — the mortgage giants Fannie Mae & Freddie Mac — to the tune of tens of billions of dollars.  The GSEs have long received subsidies that cost taxpayers around $10 billion per year.  As their very name suggests, the GSEs, which were created by the federal government, did not originate in the private sector.  And federal oversight of these entities, far from curbing their gambling at taxpayer expense, actually promoted it, by justifying purchases of risky mortgages as promoting ‘affordable housing’ and ‘diversity,’ as even some supporters of a broad federal role in housing now concede.”

 

2. CONSUMER

The Federal Communication Commission considers reinstating the “Fairness Doctrine” in order to encourage diversity in broadcasting.

CEI Expert Available to Comment: Center for Entrepreneurship Director John Berlau on why media diversity is not in danger:

“…the new media marketplace is giving more choices to residents of MinotNorth Dakota], as it is to all American media consumers. As [media critic Jack] Shafer points, radio consolidation has brought a greater diversity of programming in Minot and other towns. The number of radio formats went up from three to six after Clear Channel took over the six Minot stations. Frequently, when independently-owned stations compete for a given audience, they tend to duplicate formats — such as new popular music. But when companies like Clear Channel own several stations, they attempt to appeal to as broad a customer base as possible, and so offer different sorts of programming on each channel.”

 

3. ENVIRONMENT

Activists prepare to celebrate “World Car Free Day.”

CEI Expert Available to Comment: General Counsel Sam Kazman on the implications of the anti-car agenda:

“Many people may love a car-free lifestyle, but for most people it would be pure misery.  The handicapped, the elderly, parents carrying kids and groceries, suburban residents getting to work, rural residents running their lives – all depend on cars. The car-free lifestyle itself requires other motorized vehicles, which deliver everything from organic flour to the ingredients for lattes.”

 

Listen to the CEI Weekly Podcast here.