In Other News …
I just saw an ad on a web site that indicates that my DSL provider, CenturyLINK, call their bundle of phone, TV, and ‘Net access, PRISM. Ah, guys, you might want to read the news and consider changing that name. I guess you could consider it a bit of corporate honesty, telling consumers what they are going to do with their data up front, but I doubt it.
The Beeb, along with the rest of the media, reports that Jeff Bezos, not Amazon, bought the Washington Post for $250 million, under 1% of his net worth.
If he would like to make some money, not that he needs to, he should start hiring some reporters to actually report the news, not the Village Conventional Wisdom, and fire most of the overpaid columnists on the paper’s editorial page who have been consistently wrong. People will pay to read the truth, and pundits who are right about what’s going on in the world.
Going digital won’t save a newspaper that no one wants to read. Fact checking, and the truth will make it worth reading, and worth paying for. You need reporters for that.
The Beeb also reports that the Bank of America is being sued by the Department of Justice and the Securities and Exchange Commission for selling mortgage securities that it knew, or should have known, were bogus.
The Bank says the securities would have been fine if the housing market hadn’t crashed … [because of all the bogus securities that banks were selling].
No matter what the fine, BoA will get it back, probably by increasing fees on payday or food stamp debit cards, because that’s what they do.
