The FCC exists (in part) to enforce a certain morality on public broadcasters. Whatever we think about that today, that was a core responsibility of the FCC when it started and that still exists today.
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A list of words you can't say is about morality; it's a drag but at least it's objective. You either said the word or you didn't.
This is far more subjective.
Not true. His ratings have him right in the middle of the pack: https://latenighter.com/news/ratings/late-night-tv-ratings-q...