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It is about money
Don Imus makes WAY too much money for his radio and tv bosses to get fired over this. He's a multi zillionaire and they give him two weeks suspension? That just amounts to him getting an extra two week vacation, so he can go sit on a beach somewhere and count his money. Meanwhile his agent will call him on vacation and congratulate him for ratings that probably went through the roof the last few days since he's been all over the news. Imus, like Bill O'Reilly and Sean Hannity, is someone who has gotten rich over the years using racial code words and double speak. It is why he is so popular. He knows exactly what he is doing. It is what his fans, unfortunately, expect him to do.
If you fire Imus, he won't care, he's filthy rich already, he'll go sit on his ranch in New Mexico and claim he is a victim of anti-free speech people. His words were destestable, his words were horrid, but when you start supporting firing guys for thinking and saying the wrong things, you veer towards Stalinism. Imus's words were terrible. Fearing his words is even worse. The solution is to not listen to his show so his ratings go down, and to not patronize his sponsors. Just as the solution to changing Fox News is not to righteously demand cable companies drop FNC, but simply to change the channel. Stop giving these people your business. If it is no longer good business for Don Imus to do his thing, if he no longer gets good ratings, he will either change his ways or be canceled.
If you fire Don Imus, as Al Sharpton wants, if you serve him up as an example of what should happen to racists in the media, he'll just become a martyr for the other side. In his own world, he'll become more popular even than he is now. The right wing will be enraged. Imus will end up even bigger than he is now. As it is Imus apologized, he went on the air with Sharpton, he is meeting with the Rutgers women's team. He swears he was just joking, and even if he wasn't, it is not against FCC rules to have divergent opinions, and it is not against FCC rules to be a racist and express those views on the air. The best thing now is to drop it and move on, stop giving this guy more publicity, stop patronizing his advertisers and stop listening to his program. That is how you punish a guy like this.