FCC comes through big on net neutrality

Because the citizens keep losing out to the political clout of banks, insurance companies and other well-monied industries, it's especially good to see the People of the United States win one against the telecoms. The FCC came down strongly in favor of net neutrality today. This is an incredibly important day for those of us who believe in grassroots politics and the fair and free exchange of ideas. For those not clear on the stakes, I refer you to my earlier report on the importance of net neutrality based on Tim Wu's explanation at the 2007 National Conference on Media Reform in Memphis. Today, the FCC announced two new guiding principles regarding use of the Internet:

- Broadband providers cannot discriminate against particular Internet content or applications; and

- Providers of broadband Internet access must be transparent about their network management practices.

Here are today's words of FCC Chairman Julius Genachowski:
This is how I propose we move forward: To date, the Federal Communications Commission has addressed these issues by announcing four Internet principles that guide our case-by-case enforcement of the communications laws. These principles can be summarized as: Network operators cannot prevent users from accessing the lawful Internet content, applications, and services of their choice, nor can they prohibit users from attaching non-harmful devices to the network. The principles were initially articulated by Chairman Michael Powell in 2004 as the “Four Freedoms,” and later endorsed in a unanimous 2005 policy statement issued by the Commission under Chairman Kevin Martin and with the forceful support of Commissioner Michael Copps, who of course remains on the Commission today. In the years since 2005, the Internet has continued to evolve and the FCC has issued a number of important bipartisan decisions involving openness. Today, I propose that the FCC adopt the existing principles as Commission rules, along with two additional principles that reflect the evolution of the Internet and that are essential to ensuring its continued openness. Fifth Principle of Non-Discrimination The fifth principle is one of non-discrimination -- stating that broadband providers cannot discriminate against particular Internet content or applications.

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George W. Bush has a chuckle that he was actually president.

The Onion reports that George W. Bush has been having a chuckle or two thinking that he was President for eight years:

Witnesses said the former president's chuckling grew even stronger as it dawned on him that, for eight straight years beginning in January 2001, he had the power to nominate executive and judicial officers to the federal government, as well as grant unlimited presidential pardons and reprieves if he so desired.

Continue ReadingGeorge W. Bush has a chuckle that he was actually president.

Huffington: Capitalism isn’t evil, but this isn’t capitalism

In her review of Michael Moore new movie, "Capitalism: A Love Story," Arianna Huffington had this to say about the current state of economic affairs:

In the film, Michael describes capitalism as evil. I disagree. I don't think capitalism is evil. I think what we have right now is not capitalism.

In capitalism as envisioned by its leading lights, including Adam Smith and Alfred Marshall, you need a moral foundation in order for free markets to work. And when a company fails, it fails. It doesn't get bailed out using trillions of dollars of taxpayer money. What we have right now is Corporatism. It's welfare for the rich. It's the government picking winners and losers. It's Wall Street having their taxpayer-funded cake and eating it too. It's socialized losses and privatized gains.

Continue ReadingHuffington: Capitalism isn’t evil, but this isn’t capitalism

Friedman: It’s time for a gas tax, but we don’t have the guts.

According to Thomas Friedman's recent op-ed in the NYT, given that oil prices are way down compared to last year, it's time for a gas tax, but we don't have the guts. We don't have the guts to make hard decisions like France and Denmark, which have both dramatically reduced their dependency on petroleum. Further, a gas tax would also generate much-needed revenue.

Such a tax would make our economy healthier by reducing the deficit, by stimulating the renewable energy industry, by strengthening the dollar through shrinking oil imports and by helping to shift the burden of health care away from business to government so our companies can compete better globally. Such a tax would make our population healthier by expanding health care and reducing emissions. Such a tax would make our national-security healthier by shrinking our dependence on oil from countries that have drawn a bull’s-eye on our backs and by increasing our leverage over petro-dictators, like those in Iran, Russia and Venezuela, through shrinking their oil incomes.

Continue ReadingFriedman: It’s time for a gas tax, but we don’t have the guts.

Krugman: Banks are back to business as usual

In the NYT, Paul Krugman notes that the banks are increasingly engaging in the same risky short-term profiteering that let to the economic meltdown:

In the grim period that followed Lehman’s failure, it seemed inconceivable that bankers would, just a few months later, be going right back to the practices that brought the world’s financial system to the edge of collapse. At the very least, one might have thought, they would show some restraint for fear of creating a public backlash. But now that we’ve stepped back a few paces from the brink — thanks, let’s not forget, to immense, taxpayer-financed rescue packages — the financial sector is rapidly returning to business as usual. Krugman further notes that Obama hasn't yet shown the courage to directly confront the bankers, a move that, according to Krugman, could be politically popular.

Continue ReadingKrugman: Banks are back to business as usual