Time Editor's 'Case for Saving Detroit:' Autos 'Too Big to Fail'
Adopting the rhetoric of industry representatives and liberals promoting a taxpayer funded bailout of
‚ÄúI find the fact that so many Americans are unsympathetic to
‚ÄúWe make the case that in fact the, you know, the Big Three have adapted in a lot of ways ‚Ä¶ They haven‚Äôt managed things well, they have too much capacity, but I mean, talk about being too big to fail in a way, right?,‚ÄĚ Stengel said.
‚ÄúThe fact is Americans don‚Äôt understand what collateralized debt obligations are, yet they sort of said, ‚ÄėOkay, let‚Äôs bailout all of these banks and AIG‚Äô and yet people feel like, ‚ÄėHmm what about the big car manufacturers?‚Äô‚ÄĚ
As Stengel talked a screenshot of a CNN/Opinion Research poll showed 61 percent of American oppose a bailout of the automotive industry and 36 percent favor a rescue.
Mika Brzezinski countered, ‚ÄúCan we just keep it real though for a second though? They make great cars? They‚Äôre not on the top ten best cars. I mean, maybe there‚Äôs one. And this Chevy Volt is not ready till 2010 and it‚Äôs $40,000. We still do no have innovation at its best here.‚ÄĚ
It wasn‚Äôt the first time Stengel has promoted big government on ‚ÄúMorning Joe.‚ÄĚ On July 17 he told viewers ‚Äúthere‚Äôs incredible despair out there and there‚Äôs a sense that, that something needs to be done and people have kind of an appetite for big government in a way‚ÄĚ in America.
Stengel was citing a just-released poll, but the interview did not discuss the fact that the poll also found 80 percent of respondents said they should be responsible for carrying their own financial burdens.
The editor appeared on MSNBC April 17 advocating for a government led ‚Äúcap-and-trade policy‚ÄĚ and saying the
‚ÄúBut this notion that journalism is objective, or must be objective is something that has always bothered me ‚Äď because the notion about objectivity is in some ways a fantasy,‚ÄĚ Stengel said. ‚ÄúI don‚Äôt know that there is as such a thing as objectivity.‚ÄĚ
He later said as for journalistic ethics, ‚ÄúWe sort of make it up as we go along and I think that is what will continue to happen.‚ÄĚ