Yesterday, President Obama came out in favor of reclassifying broadband as a telecommunications infrastructure, meaning that the FCC could regulate it in the same ways it regulates landline telephone service. Immediately, cable companies began shouting that such regulation would cripple investment in broadband. Alas, this is just pure nonsense intended to instill fear and raise the hackles of those who bristle at any form of government regulation. [More]
the sky isn’t falling
The Supreme Court could issue a ruling in the dispute between the broadcast networks and startup streaming service Aereo as early as tomorrow (though it could also not come down for quite some time). And some folks are claiming that a victory by Aereo in the case would be devastating to the NFL. These people are very, very wrong. [More]
While the big banks plead hardship and whine about having their profits eroded by regulatory reform, they fail to mention that the American banking industry appears to be doing okay, with 12 straight quarters of year-over-year growth and $34.5 billion in profit in the second quarter of 2012 alone.