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Porn industry seeks federal bailout
Posted: 03:00 PM ET
From CNN's Rebecca Sinderbrand andMark Preston
Larry Flynt is asking for a bailout.
WASHINGTON (CNN) - Another major American industry is asking for assistance as the global financial crisis continues: Hustler publisherLarry Flynt and Girls Gone Wild CEO Joe Francis said Wednesday they will request that Congress allocate $5 billion for a bailout of the adult entertainmentindustry.
"The take here is that everyone and their mother want to be bailed out from the banks to the big three," said Owen Moogan, spokesman for LarryFlynt. "The porn industry has been hurt by the downturn like everyone else and they are going to ask for the $5 billion. Is it the most serious thing inthe world? Is it going to make the lives of Americans better if it happens? It is not for them to determine."
Francis said in a statement that "the US government should actively support the adult industry's survival and growth, just as it feels the need tosupport any other industry cherished by the American people."
"We should be delivering [the request] by the end of today to our congressmen and [Secretary of the Treasury Henry] Paulson asking for this $5 billiondollar bailout," he told CNN Wednesday.
Posted: 03:00 PM ET
From CNN's Rebecca Sinderbrand andMark Preston
Larry Flynt is asking for a bailout.
WASHINGTON (CNN) - Another major American industry is asking for assistance as the global financial crisis continues: Hustler publisherLarry Flynt and Girls Gone Wild CEO Joe Francis said Wednesday they will request that Congress allocate $5 billion for a bailout of the adult entertainmentindustry.
"The take here is that everyone and their mother want to be bailed out from the banks to the big three," said Owen Moogan, spokesman for LarryFlynt. "The porn industry has been hurt by the downturn like everyone else and they are going to ask for the $5 billion. Is it the most serious thing inthe world? Is it going to make the lives of Americans better if it happens? It is not for them to determine."
Francis said in a statement that "the US government should actively support the adult industry's survival and growth, just as it feels the need tosupport any other industry cherished by the American people."
"We should be delivering [the request] by the end of today to our congressmen and [Secretary of the Treasury Henry] Paulson asking for this $5 billiondollar bailout," he told CNN Wednesday.
