Robert Gibbs: No bailout for newspapers

Asked in his Monday briefing if the White House would consider bailing out the newspaper business, White House press secretary Robert Gibbs told reporters the government may not have the power to reverse the industry's decline. "I don't know what, in all honesty, government can do about it," Gibbs said in response to a question about the Boston Globe's financial struggles. Noting that it's a "bit of a tricky area to get into," given the relationship between the White House and the media, Gibbs said President Barack Obama "believes there has to be a strong free press" and expressed "concern and sadness" over the state of the industry.