WASHINGTON (CNN) — Another major American industry is asking for assistance as the global financial crisis continues: Hustler publisher Larry Flynt and Girls Gone Wild CEO Joe Francis said Wednesday they will request that Congress allocate $5 billion for a bailout of the adult entertainment industry.Look, boob jobs ain't cheap. This is clearly an industry that is desperate for assistance. It needs to be firmed up and a hard injection of capital is probably just what the doctor ordered after his examination.
“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 Larry Flynt. “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 in the 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 to support any other industry cherished by the American people."
Sales reports do seem to indicate that things are sagging in porn. Market penetration is way off, and their assets simply aren't what they used to be. Of course, prior years' results could have been artificially inflated, but my suspicion is we're just seeing the tip of the iceberg.
The hole is deep, my friends. I've studied reams of data which suggest that at least half the adult stars blew their chances to sock away a little for retirement and will have to press their noses to the grindstones in order to make ends meat.
In the true spirit of American capitalism, these pioneers of prurience have opened wide and bared their assets for the shot, just the shot, at a peak market.
But as we all know, markets have their ups and downs, and no doubt right now, porn is at its bottom. However, with a brief respite, and this stimulus package, I have no doubt that as interest rises, this market too shall begin to swell and grow.
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