long arm of the law
Posted by Sheila Shayon on May 7, 2010 02:42 PM
The FCC this week unveiled its grand plan to regulate America's broadband industry. It’s an admitted compromise which Chairman Julius Genachowski calls "a third way."
The plan would reclassify high-speed Internet service providers as "common carriers," allowing the Federal Communications Commission to regulate cable operators such as Comcast and telcos such as Verizon who would prefer to determine what (and how much) content users are downloading.
Addressing the hot-button issue of net neutrality, the commission said it would strive to not overly "regulate the Internet, including web-based services and applications, e-commerce sites, and online content."
The specter of broadband regulation sent Wall Street into a deep dive, with cable stocks falling 5% to 6% as investors feared the commission's proposed policy will hamper broadband providers' control over their own networks.Continue reading...