What could be more timely than a study about debt? With all the networks crying about oil prices and threats to the economy, consumers are feeling squeezed. Director of the Business & Media Institute, Dan Gainor appeared on the Fox Business Channel today to talk about the Culture & Media Institute and Business & Media Institute joint study, "DEBT Who'$ responsible?" That found the broadcast networks blame businesses, not borrowers for spendthrift ways.
"When you look at how the networks cover [debt] what you find is they ignore personal responsibility and flip it around and blame business for debt. Six times more they blame business than borrowers and almost two-thirds of the time they ignore the whole concept of personal responsibility," Gainor told viewers.
YouTube video after the break.
Gainor also pointed out that Sen. Chuck Schumer's new proposition to put more regulation on lenders giving out loans amounted to living in a "nanny state" where regulators would decide whether or not you can buy a house.