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Economic Policy Journal

Developments surrounding Matt Taibbi's supposed video of a Penson trade are escalating. Penson has alerted the SEC that the supposed Penson video is not video of a Penson trading platform.

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AP

The company that owns The Orange County Register in California and dozens of other newspapers became the latest publisher to seek bankruptcy protection, driven into financial despair by a staggering drop in advertising revenue.

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The Market Ticker

This morning I woke up to the media once again "spouting" about how the government had "made money" on the bank bailouts. MSNBC was spouting the mainstream lie, with the following from the NY Times: Nearly a year after the federal rescue of the nation’s biggest banks, taxpayers have begun seeing profits from the hundreds of billions of dollars in aid that many critics thought might never be seen again. The profits, collected from eight of the biggest banks that have fully repaid their obligations to the government, come to about $4 billion, or the equivalent of about 15 percent annually, according to calculations compiled for The New York Times. The problem is that this "accounting" is terribly misleading. It ignores the more than $100 billion passed through AIG to Goldman Sachs and others, for example - money that is almost certain to never be recovered. The government still faces potentially huge long-term losses from its bailouts of the in

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Arizona Republic

Although he is African-American, Broughton said race is not a factor in his beliefs. He said during the rally several people told him that he should be supporting Obama because he is Black. He called the idea preposterous. "I am an American. The color of my skin shouldn't even matter."

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AP

Reader's Digest Association, publisher of the widely read Reader's Digest magazine, said Monday it will probably file for Chapter 11 bankruptcy so its U.S. business can cut its debt load. The bankruptcy would take the form of a so-called pre-arranged filing, Reader's Digest said in a statement. A pre-arranged filing comes after a company has already reached deals with its lenders to cut its debt.

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Wired

It's undeniable that the going rate for information on the internet is "free." That's meant big trouble for newspapers, which have seen nearly all of their traditional roles usurped by better, faster, free online services over the past few years. If a newspaper doesn't make its content available gratis on the Web, it's irrelevant. If it does, it's got nothing left to sell but fishwrap and inkstains.

The Wall Street Journal's publisher Les Hinton has called Google a "digital vampire," but even his paper, one of the last holdouts of subscription-based online content, has made its articles' full text accessible via Google searches. Using free content as bait for paying customers doesn't work for newspapers. And the revenue from internet advertising is less a stream than a dribble — nowhere near enough to support a robust paper (or paperless paper) on its own.

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  Arizona Capitol Times is now accepting nominations for its annual Leaders of the Year in Public Policy Awards.

This event was created in 2007 to shine the spotlight on individuals and organizations that advance public policy by implementing and championing creative strategies to positively impact the state and the lives of Arizonans, without regard to political affiliation or partisanship. Nominations are solicited from the community, and honorees are selected by a panel of their peers that includes past winners and community leaders.

To nominate someone, either print, fill out and return the form included below to the Arizona Capitol Times (1835 W. Adams St., Phoenix, 85007) or click here to submit

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The Agitator

Over at The Corner, National Review’s Andy McCarthy sees the Uighur uprising in China as vindication of the Bush administration’s detainment of several Uighur Muslims in Guantanamo:

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Debbie Morgan- Take Back Washington

The question we should all be asking is, “Does Ms Hill really not know that the Federal Reserve is not “federal” or is she, and the Washington Post, by extension, feeding the public blatantly false information so as to keep them from realizing what is going on?

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Wired

Craigslist’s new policy barring the publication of erotic ads has not only saved lives and stopped prostitution, it’s also saving the dying newspaper industry. After the site announced last month under pressure that it would no longer publish erotic ads, sales of erotic ads in local alternative weekly newspapers have soared, according to the Washington City Paper. The paper reports its own sales of adult ads was up 38 percent in the first week of May as criticism against Craigslist was heating up, compared to the same time last year. Minneapolis’ City Pages says its adult ad sales have almost doubled. And SF Weekly in San Francisco had 160 adult ads the week before Craigslist’s policy went into affect but clocked in with 910 ads last week. Craigslist withdrew erotic ads after a 22-year-old Boston medical student allegedly murdered a woman who advertised erotic services on the web site. A week earlier, a New York City radio reporter was found murdered after placing an ad on Cra

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McClatchy News

A necessary pillar of democracy, a Senate subcommittee examined the state of American journalism at a time when newspapers are being shuttered and downsized and network TV news audiences are declining. Newspaper Revitalization Act

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FiredogLake

It has come to our attention that you accepted an "Izzy "Award from the Park Center for Independent Media, named for I.F. "Izzy" Stone. You called Stone an "independent" journalist. You must know, I.F. Stone was exposed

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By Verena Dobnik, Associated Press

NEW YORK – When it bought the Boston Globe for a record $1.1 billion in 1993, the New York Times Co. added one of the nation's most acclaimed and profitable newspapers to its empire. But analysts say the 137-year-old Globe has been a money-loser

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