"I’m over trying to find the 'adorable' way to state my opinion and still be likable! F--- that," she concludes. "I don’t think I’ve ever worked for a man in charge who spent time contemplating what angle he should use to have his voice heard. It’s just heard. Jeremy Renner, Christian Bale, and Bradley Cooper all fought and succeeded in negotiating powerful deals for themselves. If anything, I’m sure they were commended for being fierce and tactical, while I was busy worrying about coming across as a brat and not getting my fair share."
For a long time, longer than anyone in the newspaper business has been alive in fact, print journalism has been intertwined with these economics. The expense of printing created an environment where Wal-Mart was willing to subsidize the Baghdad bureau. This wasn’t because of any deep link between advertising and reporting, nor was it about any real desire on the part of Wal-Mart to have their marketing budget go to international correspondents. It was just an accident. Advertisers had little choice other than to have their money used that way, since they didn’t really have any other vehicle for display ads.
Now imagine a potential bubble that only the Fed sees. Imagine if Chairman Greenspan declared war on housing prices in 2004, when many Americans were enjoying homeownership for the first time. I suspect many Americans, members of Congress, homebuilders, realtors, banks (and many others) would have been outraged that the Fed was depriving people of participating in the American dream for a problem that they didn’t believe was real. Imagine if the Fed decided to raise rates to prevent housing prices from climbing. Given how painful the Great Recession was, this may have in fact been a better choice than what the Fed actually did, which was basically nothing. But I have doubts about whether the Fed could have maintained the policy long enough for it to have the desired effect before the American people rejected it. 1 At a minimum, the Fed would have had to work very hard to try to convince the public that the housing bubble was real and a danger. It can be very hard for a sole regulator to stand up against a national belief that home prices only go up and say: “We know better than all of you.” But that doesn’t mean we shouldn’t try.