Friday, October 17, 2008

CBS's Bank of America Connection

The Big Media Monopoly conglomerate news departments (with the exception of Rupert Murdoch's right-wing Fox News propaganda agency) have generally been acting like press agents for the Democrataic Party's Obama presidential campaign in 2008.

One reason might be because Obama endorsed the U.S. imperialist government's bipartisan economic program of using the public funds of U.S. taxpayers to provide billions of dollars worth of corporate welfare investment grants to the big banks of the same ultra-rich folks who helped create (along with the Obama campaign's national finance chairperson, former Superior Bank board member Penny Pritzker) the current U.S. economic crisis--by engaging in financially reckless predatory sub-prime mortgage lending and the securitization of sub-prime mortgages.

Coincidentally, one of the board members of CBS News' CBS parent company, Charles Gifford, also sits on the board of the same Bank of America in which $25 billion of public funds was recently invested under the U.S. government's bipartisan "corporate welfare for Wall Street" economic program. Another member of the Bank of America's corporate board, former PBS President and CEO Patricia Mitchell, is also the President and CEO of the "non-profit" CBS-linked Paley Center for Media, from which she takes home an annual salary of $522,837 per year.

Like the Bank of America, Citicorp also was recently handed $25 billion in public "investment" funds under the Obama-McCain-endorsed "corporate welfare for Wall Street" economic program, which the CNN newsroom press agents for the Obama campaign helped promote. And, coincidentally, the chairman of the board of CNN's Time-Warner media conglomerate parent company, Richard Parsons, also sits on the board of directors of Citicorp. Not surprisingly, Time Warner/CNN Chairman of the Board Parsons also made three campaign contributions, totalling $6,900, to Obama's 2008 presidential campaign between August 20, 2008 and August 31, 2008.