I ask these rhetorical questions because I’m open to suggestion. Is WBLS any worse off than other radio stations? Can the Congressional Black Caucus’ request be seen as “fair” by opponents… or anyone? Wouldn’t this be considered “preferential” treatment? Should the station and other minority owned stations get assistance for these loans and if so…on what basis?
Black Caucus Seeks to Ease Radio’s Woes
WASHINGTON “” The radio business has nothing to do with the plan to overhaul the nation’s system for regulating banks and other financial institutions. Except, it turns out, in Congress. One of most intriguing mysteries here in recent weeks is why members of the Congressional Black Caucus have chosen to buck their party and president in trying to stall financial regulation reform.
The answer lies at least in part with an aggressive lobbying campaign by a troubled New York City-based radio broadcasting company, Inner City Broadcasting, whose co-founder is a prominent New York politician and businessman, Percy Sutton. In a rare break with President Obama, the caucus, made up of black members of Congress, is holding back support for the legislation because it wants the administration to help minority-owned businesses, including Inner City, whose financial plight has been specifically identified in meetings with top administration officials.[read the whole story]