The perils of politically-active billionaires buying media properties are all too apparent. David Geffen and Eli Broad were both rumored to be bidding for the Tribune Company. Both are Democratic activists who have spent many millions helping the Democratic Paty.

Now this morning, we have news reports that Clitnon pal and billionaire Ron Burkle may be in the running to buy the Wall Street Journal. While some have crticized Rupert Murdoch for his political leanings (in reality, he is more of an opportunist who saw a gap in coverage and founded Fox News to fill the gap), Burkle is a very close personal friend of the Clintons who routinely hosts them in his Los Angeles home and is a key fundraiser for them.