Let's stop bowing to our behemoths

Too big to fail. National resource. That’s when things are bad.

Suddenly, we’re no longer bowing to the god of “size matters.” Today’s bailout of Citibank suggests that, and the coming crash in legacy broadcasting and satellite will be more proof.

Just today, in the [City Near You] Business Journal, Lew Dickey, Jr, CEO of Cumulus Media opines that in the next 36 months, half of the companies in the radio business will be gone.

Mike Elgan at Datamation is getting mass redistribution with his article that sticks a fork in XM/Sirius, and at Daily Kos, Jerome a Paris (who could spend a year just writing “I told you so” diaries) tells us what we should have been doing with banks which is extensible to broadcasters. There was a reason for ownership caps. Ronald Reagan forgot them somehow, but then as we discovered when he left office, Reagan forgot a lot.