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Back when the Santelli rant first pierced the airwaves, I wrote that you wouldn't expect "the highest profile articulation of neo-populist outrage [to come] from the trading floor rather than the Midwest. The powerful aren't the only ones who are angry. But they find it far easier to be heard." News that Santelli was part of a well-funded political action campaign only underscores that conclusion. Matt Yglesias digs further into the political economy of the media:
one thing that makes it difficult to break the top two percent’s grip on things is their total control of the media. A typical Sunday chat show will consist of a host who belongs to the top two percent reporting to a network executive who belongs to the top two percent, who reports to a conglomerate executive who belongs to the top two percent. Their livelihoods will depend on attracting advertising dollars that are controlled by other top two percenters, and if the host brings some pundits on to discuss things they’ll be from the top two percent. Thus do the delicate sensibilities of the two percent or so of households earning more than $250,000 a year wind up getting equal weight—or more!—to those of the overwhelming majority of households that earn less than $100,000 a year.The nice thing about America is that the First Amendment guarantees everyone a voice. But only money assures you volume.
