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Wall Street Banker to Newspapers: Abandon Hope?

Steven Rattner, in “Red All Over,” says:

We’ve had experience in the past — the New York City subways come to mind — with businesses that began as conventional, for-profit corporations, and, for one reason or another, were later rendered unprofitable while still being viewed as essential services. It’s time to apply some creative thinking to newspapers and, for that matter, to serious journalism in other media. Then we need to convince Americans that they should pay attention to it — and pay for it.

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