New York City Comptroller Bill Thompson has proposed tying a Cable Consumer Bill of Rights into the 10-year franchise renewals Time Warner and Cablevision are expected to sign later this year. The proposal would force cable operators to disclose information about their expenses and service goals—which sounds nice and important on paper—but wastes an unrivaled opportunity to end the cable operators’ most hated practices.
Treasury Secretary Henry Paulson wants to consolidate the nation’s financial regulators into a tripartite gang that can save the economy from distress and doom. The plan to give the Federal Reserve broad new regulatory powers and streamline the regulatory community has been in the works since last March, before the start of the subprime meltdown. Paulson is worried that the U.S. markets are no longer competitive with maturing world markets, some of which aren’t hampered by nuisances like regulation. After the jump we’ll explain the consumer impact of the plan and introduce you to your three new regulators.