AP reports on the latest Forbes listing of the world's wealthiest: "MEXICO CITY -- Mexican telecom tycoon Carlos Slim is the first man from a developing nation to become the world's richest person -- a shift that underlines the loosening of America and Europe's stranglehold on the top spots in the billionaires' club."
In the wake of Citizens United v. FEC, Sen. Charles Schumer (D-NY) and Rep. Chris Van Hollen outlined legislation to ban spending on federal campaigns by corporations if they had foreign ownership of 20 percent.
Thank goodness Carlos Slim owns only 6 percent of The New York Times. If he ever increases his stake to 20 percent, and the Democrats' legislation passed, the Times would be prohibited from writing editorials endorsing federal candidates.
The need to limit excessive speech by the corporate media will no doubt be addressed by the House Financial Services Committee at its hearing today, "Corporate Governance after Citizens United." As of 8 a.m. this morning, some of the prepared statements are already online.