On yesterday's Rush Limbaugh show, a caller asked about NBC/MSNBC salaries, in light of the salary caps that were part of the bailout package. If GE Capital gets the bailout, then why doesn't all of GE, including its NBC-Universal media properties, have to abide by the caps?
Good question!
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RUSH: Here's Mark in Norfolk, Virginia, as we go back to the phones. Well, not "go back." We're just starting. Mark, it's great to have you here. It's nice to have on you at EIB Network, sir. Hello.
CALLER: Thank you, Rush. Thanks for manning the EIB chair on this holiday.
RUSH: Thank you, sir.
CALLER: Question. You know in general, Rush, looking at NBC, MSNBC, CNBC, do you know roughly how much the talking heads make in income a year?
RUSH: Well, yeah. I can guesstimate it, based on the famous faces that you know. You want to know the numbers?
CALLER: Yeah, roughly.
RUSH: Well, just a wild guess. Brian Williams, ten million. Chris Matthews, five or six million.
CALLER: The reason why I say that, Rush, is that I believe -- if my recollection is correct -- that in the first round of TARP money, those particular networks, of course, are owned by GE. I believe that GE took taxpayer money, took TARP money, and if that's the case, Rush, why are taxpayers...?
RUSH: Wait a second. Whoa, whoa, whoa. I just can't go on speculation here. I just can't, because GE's not a bank, and only banks got it.
CALLER: Well, yeah, but see, remember that about 55% of GE's revenue comes from GE Capital.
RUSH: Oh, yeah!
CALLER: It comes from the financial side.
RUSH Oooooooooooooooh m'yeah!
CALLER: They make lots and lots of loans.
RUSH: Yeah.
CALLER: They have lots and lots of money outstanding.
RUSH: That had totally slipped my mind out there. You are right.
CALLER: Well, my question is, if that's the case, Rush, why are taxpayers being asked to subsidize these exorbitant salaries? Can't these people give some back? Can't they do with less? Why are we as taxpayers subsidizing them --
RUSH: Yeah, because --
CALLER: -- especially when their ratings are going down?
RUSH: This is an excellent observation by Mark in Norfolk, Virginia. I think there should be a cap on the salaries.
CALLER: Totally.
RUSH: Brian Williams ought to not be able to make more than a million and a half.
CALLER: Five hundred thousand dollars.
RUSH: Well, that's the bonus. That's the bonus.
CALLER: But his ratings are going down, so obviously they're not doing their job.
RUSH: Well, actually that's not true. Brian, NBC Nightly News, had a pretty good week.
CALLER: Ah. How about MSNBC?
RUSH: Well, now, that's a different thing. For that, we're talking pure Thomas Crapper.
