When Local Newspapers Close, Taxpayers End Up Footing The Bill, Study Finds

A team of economists has found that when newspapers close, government borrowing costs go up. According to their study, investors think the lack of a watchdog means their investment is riskier, leading them to demand a higher interest rate, which is then passed on to taxpayers.

Here & Now's Lisa Mullins talks with Dermot Murphy, a professor of finance at the University of Illinois Chicago and one of the study's co-authors.