One of the foundations in America is the need for a free press that is not unduly influenced by outside interests, which can range from influential people to corporations or governments. However, several members of Congress fear that concept is in danger of being greatly diminished due to an expanded “relationship” between the Associated Press and Xinhua, China’s largest state-run news agency.
For the second day in a row, CNBC "Squawk on the Street" co-host Mark Haines took on a Democratic congressman over the issue that American International Group (AIG) paid out too much in bonuses for a company that received federal bailout money.
On March 19, Haines took on alleged tax cheat Charles Rangel, questioning whether or not he should be dictating tax policy while the House Ethics Committee investigates him for his tax problems. On CNBC's March 20 "Squawk on the Street," Haines took on Rep. Brad Sherman, D-Calif. on the issue.
Sherman contended the 90-percent tax on bonuses exceeding $250,000 that the House passed 328-93 didn't go far enough. He said a government receivership would have been the proper way to handle AIG, and not the bailout method the federal government employed.