But having said that, what's happening with campaign finance reform and our political culture is devastating.

Very rarely are you going to see the large shareholder or CEO of a corporation march into a newsroom and say, "Cover this story, don't cover that." It's a much more subtle process. The professional code adapts, but what we try to see, is how commercial and corporate pressure shape both the professional code and the sorts of things that are considered legitimate journalism and illegitimate journalism.

Even if someone wanted a purely free-market, competitive media system, it would require extensive government regulation to set up those markets. All our largest media companies are based on the grant of explicit government monopoly privileges and licenses, or franchises, or subsidies. The government didn't come in after the system was in place, it built the system in the first place.

The public gets not one penny from them in return for those airwaves.

Deregulation is a popular term that's used across the political spectrum. And it's one of these terms like "choice," that corporate interests have used because they know their focus-group buzzword testing makes it sound like a popular word. Because, who can be against deregulation? Being free, having liberty, not having someone tell you what to do, being deregulated, hey, that sounds great. But deregulation is a non sequitur in the realm of media policy or media regulation. The issue is never regulation versus deregulation; our entire system is built on media policies and subsidies.

You know, a left-winger, the barrier to success if you're on the left in commercial radio is a mile and a half higher than it is if you're on the right.

The cost of congressional and presidential campaigns has been leaping every two or four years. I think this year it will be 60 percent more than 1996; well over twice as much as in 1992 in the presidential and congressional races.