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
âI find the fact that so many Americans are unsympathetic to
âWe make the case that in fact the, you know, the Big Three have adapted in a lot of ways âŚ They havenât managed things well, they have too much capacity, but I mean, talk about being too big to fail in a way, right?,â Stengel said.
âThe fact is Americans donât understand what collateralized debt obligations are, yet they sort of said, âOkay, letâs bailout all of these banks and AIGâ and yet people feel like, âHmm what about the big car manufacturers?ââ
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, âCan we just keep it real though for a second though? They make great cars? Theyâre not on the top ten best cars. I mean, maybe thereâs one. And this Chevy Volt is not ready till 2010 and itâs $40,000. We still do no have innovation at its best here.â
It wasnât the first time Stengel has promoted big government on âMorning Joe.â On July 17 he told viewers âthereâs incredible despair out there and thereâs a sense that, that something needs to be done and people have kind of an appetite for big government in a wayâ 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 âcap-and-trade policyâ and saying the
âBut this notion that journalism is objective, or must be objective is something that has always bothered me â because the notion about objectivity is in some ways a fantasy,â Stengel said. âI donât know that there is as such a thing as objectivity.â
He later said as for journalistic ethics, âWe sort of make it up as we go along and I think that is what will continue to happen.â