ESSAYS IN PEOPLESWORLD.ORG
New Jersey governor proposes state-owned bank – People's World (peoplesworld.org)
In recent years, as large commercial banks and investment institutions put the squeeze on mutual savings banks, there are fewer financial resources available for communities, small businesses and consumers, and what is available comes at a steep price to borrowers and debtors. A partial remedy and some relief from crushing debt may become available to struggling borrowers and small businesses in New Jersey.
The beginning of the end for corporate journalism? – People's World (peoplesworld.org)
The last few decades have seen enormous changes and restructuring of journalism and news reporting, especially at the local level. In the past, large daily newspapers assigned reporters to cover local news in small communities, providing timely coverage of current events in that area. However, this became increasingly expensive and decreased profitability. One by one, newspapers, unable to keep up with rising costs, have either merged, gone out of business, or been taken over by big corporations seeking to monopolize the flow of information to maximize investor profits.
In recent years, news reporting has become increasingly controlled by a smaller and smaller number of corporate conglomerates. Predatory financiers and vulture capitalists have taken over what used to be independent, competitive, and reliably objective reporting of local news. Unprecedented numbers of journalists, reporters, editors, and support staff have been laid-off as sacrificial lambs to the worship of money and corporate profits. To make matters worse, a disproportionate number of those who have lost their jobs to cutbacks are people of color, especially African Americans and Latinos. As a result, there has been a significant reduction in the amount of news coverage that is relevant to minority communities.
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