f.c.c. didn't get the memo. the net neutrality regulations we're debating today clearly fail that commonsense test. there aring -- they are a solution in search of a problem. in an overreaching attempt to fix the internet when the internet is not broken. according to the f.c.c.'s own data, 93% of broadband subscribers are happy with their service. and if americans weren't happy with their provider or felt that the provider was favoring some forms of content over others, they could switch providers. but now the f.c.c. says its regulations are necessary because of what might happen in the future. what might happen in the future. if broadband providers have incentives to favor one type of content over another, despite the fact that after 15 years -- 15 years -- there's no evidence of this occurring in any significant way. if internet providers were so interested in doing this, wouldn't they have done it by now? instead, the f.c.c. has exceeded its authority to grow the reaches government under

the f.c.c.'s rules will ensure that no matter how much money or power you have, a young kid working in her parents' basement in duluth can outinnovate the biggest corporation simply because she has the best idea. this is exactly why top silicon valley venture capital and angel investment companies support these rules. these companies are the ones funding the next mark zuckerberg, larry page or sergai brinn so he can get his product off the ground, they're the ones funneling millions and millions of dollars to entrepreneurs which is why i think we should listen to them. the c.e.o.'s of i bay, facebook and youtube have also joined in a letter supporting the f.c.c.'s rules. they say, and i quote, "commonsense base line rules are critical to ensuring that the internet remains a key engine of economic growth, innovation, and global competitiveness" unquote. i think we should listen to them. and we should listen to companies like microsoft, yahoo, google, i.b.m. and qualcomm. these companies also suppo

f.c.c. chairman william canard stated in 1999, "the fertile fields of innovation across the communications sector and around the country are blooming because, from the get-go, we have taken a deregulatory, competitive approach to our communications structure, especially the internet." now the present f.c.c. is reversing that policy that has been successful beyond our expectations. broadband internet networks have powered the information and communications iustries, which in 2009 accounted for more than 3.5 million high-paying jobs and about $1 trillion in economic activity. this industry has been an engine for major economic growth, even during these difficult times. yet the f.c.c.'s rules could severely jeopardize this industry'industry's vast potent. net neutrity is intended to limit how internet service providers develop and operate their broadband networks. the net neutrality order allows the f.c.c. to tell broadband providers what kind of business practices are reasonable and unreasonab

now the f.c.c. is indecency regulations out of touch and unconstitutional and our changing world of the cato institute the center for democracy and technology public knowledge tech freedom and the electronic frontier foundation are asking the supreme court to say the five groups filed an amicus brief last week asking the high court to extend full first amendment protection to broadcast media and overturn the one thousand nine hundred decision the f.c.c. very specific now the original case was famously known because comedian george carlin's monologue about the seven words you can never say on television was broadcast on the radio and the supreme court use the fine against pacifica because broadcast media was quote uniquely pervasive and uniquely accessible to children but today with more and more people turning to the internet streaming satellite you name it and a new case going back to the supreme court an f.c.c. versus fox does that argument still stand here to discuss it with me as julian sanchez

and, again, the f.c.c.in this area decided to adopt a lighter hand of regulation than the more strict full telecommunications regulation of the 1996 act in terms of mobile. and we've seen this tremendous growth in mobile. as of december 2010, 26% of u.s. households were wireless only compared to about 8% of the households five years ago. the point here is a dramatic one. i think about my kids who, as they start to move to their own homes or even to college, don't even have a fixed wireless phone in their apartment in college. they will rely entirely on wireless. we've got to make sure that we can continue to build out these wireless networks in the most robust way possible. again, i think the f.c.c. basically pwot it right by -- basically got it right by not putting a more heavy hand of regulation on this wireless buildout but by putting the lighter hand of regulation. in closing, to me the real issue is how do we assure consumers and content providers are treated fairly? the internet was designed as an ope

line political parties federal judge jed rake off is in the news again last week you calendar the f.c.c. has plans to settle a fraud cases against citigroup for two hundred eighty five million dollars saying that the deal would recruit only a fraction of investors losses that would leave the firm free to proclaim its innocence in private lawsuits over remaining damages so once again citi group it's another sort of goldman deal thing where they created these mortgage backed secure . he sold them to investors and then actually bet against the c.d.o. as themselves but in this court case max the s.e.c. lawyer argued that the judge is entitled to assess whether the proposed settlement is fair adequate and reasonable but not whether it is in the public interest so the washington post says it is unclear whether judges can do much more than criticize and control it while it is clear that they they can't anytime you do business on wall street you sign a form a new account form that put you into a binding arbitration you don't go to a jury of your peers this is what i was working on wall street t

is themselves but in this court case max the f.c.c. lawyer argued that the judge is entitled to assess whether the proposed settlement is fair adequate and reasonable but not whether it is in the public interest so the washington post says it is unclear whether judges can do much more than criticize and control but it is clear that they can't anytime you do business on wall street you sign a form a new account for that put you into a binding arbitration and you don't go to a jury of your peers this is what i was working on wall street the first thing they taught you they said just get him to sign the new account form and it's karpov steal all the money you want we've got lawyers but rake off in court he's conceded that he must give the f.c.c. significant deference now we just cover the legislative branch of our government the people's government and they aren't going to do anything because they benefit from the insider trading here you have the second of the three branches the judiciary and there are unwilling to do anything so that le

rule of law on wall street and banking and money matters and he has absolutely failed to get the the f.c.c. to enforce the law or to refer cases to the department of justice he's done nothing to reestablish the glass steagall at he allowed the supreme court decision on citizens united to just pass by without. doing anything to even start a legislative process to redefine what the personhood of a corporation is because obviously corporations are not people in the way that people do they don't have rights they don't have duties obligations and responsibilities to the public interest in the same way that people do that in fact they're sociopathic you know they exist really only to to have allegiance to the shareholders and the boards of directors and that's where it begins and ends so the idea that they should be able to express themselves freely by corrupting the entire political process by flooding money into the political process is absurd but more to the point president obama did nothing to introduce legislation to redefine what a corporation is or to steven start the process of a constit

have access to the internet is just as much a of a right as access to free public education and the f.c.c. realizes this could work the bad. box so-called news this morning on g.o.p. t.v. talking heads of fox and friends also known as the one christmas hotline promoting a story about president obama imposing a fifteen cent tax on christmas tree it's just in time for the holidays the obama administration adding a christmas tree tax well the government green cine fifteen cents out of your pocket potentially on the sale of all fresh christmas treats and to. president obama the secret muslim hates christmas and christmas trees actually it's not true that christmas tree farmers themselves at been pushing for such a tax for two years so they can launch an ad campaign actually started back in the bush administration so they can launch an ad campaign to get people to buy more real christmas trees as those plastic things as the national christmas tree association spokesman rick dumby said it has absolutely nothing to do with obama it is not a tax i'm slowly but surely narrowing down. who the culpr

regulations the f.c.c. the f.c.c. saying regulation apparently made big area of credit card consumers why this is i mean this is a good person as much as i love it like we don't get to practice it in full very often at all but what do you think some of the most ridiculous examples are that we've seen. you know throughout this occupy movement in cities and across the country i mean i remember reading about the men who were arrested for wearing guy fawkes masks in new york city because of some archaic law that you know didn't allow more than one person to be wearing a mask because of masquerade parties and god knows what here what else yeah i can't i can't point to anything that specific i mean in general the most disturbing thing i've seen is this idea that police in order to keep the peace or to prevent violence are actually trying to incite it and entire denies it i mean what we saw in oakland you know that was just absolutely horrendous and told me on necessary and i think reacting with violence or extreme force in

what is going on here is maybe a little bit more insidious that's it's a effort on the part of the f.c.c. to come up with settlements that are big enough so that judges like rakoff will not question them as much and that allows sort of the same gravy train to keep rolling where nobody admits wrongdoing they pay basically a pittance maybe it's a little larger now and they don't have to get exposed to all of the investors coming out with lawsuits because of if citigroup for example in its to actually defrauding investors then obviously there's a host of lawsuits and punitive damages they would be liable for so i think this is a way for the f.c.c. to try to minimize the damage to these banks by. having big enough fines so that they can get it past the judicial process in the settlements yeah and at the end of the day with them to find them right it definitely seems to me david thanks so much for joining us tonight thank you. i saw comes after the f.b.i. launched an internal review of the anti muslim rhetoric and its counterterrorism causes the white house has decided to conduct its own reve

are coming out in the respond to our viewers and you said it i read it and then the f.c.c. has rules on indecency outdated and tell you who's calling on the supreme court to change the current f.c.c. policy so in return. thank you for joining us half past the hour i'm karen terror with a quick peek at your headlines russia condemns foreign powers for inciting the opposition in syria in an attempt to topple president a son this comes after the u.s. and jordan called for him to step down and the arab league suspended damascus is membership the organization demands assad starts talks with the syrian opposition and implements a peace plan they brokered to end the bloodshed that's claimed thousands of lives. changing of the guard as new prime ministers take over in italy and greece hoping to tackle their country's overwhelming debt critics say the new euro predator prime ministers could end up putting brussels and the euro before the interests of their own people. police in the u.s. ramp up pressure on the occupy movement as they crack down on peaceful protest camps and marchers

are coming out in response to our viewers and you said it i read it and then our the f.c.c. has rules on indecency outdated and comes on the supreme court to change the current f.c.c. policy so as a retired. internal we're doing the mechanisms you don't work to bring justice or accountability. you have a right to know what my government should do if you want to know why i'm going to taxes. but i would characterize obama as a charismatic. of american exceptionalism.

and a number of organizations have fallen and because brief asking the supreme court to declare the f.c.c. as indecency regulations as unconstitutional so are the rules on bad words on t.v. a little bit outdated we're going to have all that and more free tonight including goodness of happy hour but first let's take a look where the mainstream media has decided to me. all right so on saturday night c.b.s. and the national journal hosted yet another g.o.p. debate unfortunately this little bait but probably not all that many people watched it was nestled away on a saturday night and i say on fortunately because when it comes to foreign policy which this debate focused on we can see exactly how clueless how inconsistent how outright crazy some of these candidates really are with the exception of ron paul and jon huntsman the other candidates all seem to support waterboarding which is a form of torture as an acceptable technique. i don't see this point you i see it as an interrogation technique if i were president i would be willing to use waterboarding and i think it was very effective for me

we received through a waiver through the f.c.c. some 700 mega hertz spectrum that was actually freed up as part of the digital tv transition a few years ago and was dedicated by congress specifically for public safety broadband uses. san francisco, oakland and san owe day applied to the f.c.c. to begin work building on this spectrum early and we received that waiver last year. funding and regional collaboration are two more pieces to it. i mentioned motorola got a $50 million grant under the broadband technology opportunities program and they're also contributing a match of $21 million to build the network. regional collaboration, you can cannot build the network without sites to put your radio so we have to have regions contribute to locations, to sites, the space to put radio transmitters out there to build a network. finally, governance, i mentioned the bay area authority and joint power authority, that had to be in place to govern everything. now, the only other thing i will say about this is we started with the spectrum and we

matters under investigation which could have been used for possible referrals for criminal activity the f.c.c. . dodd frank finn reagan legislation is a joke it really didn't even include any regulation that was all left until after the bill was passed and for the banks stir lobbyists to go in and actually write the rules which is what they've been doing for the last eighteen months and that's absurd you know he's done nothing to deconstruct the too big to fail banks and make them smaller and make them less dangerous to the systemic integrity of the financial system so i think that you know that these failures are just so monumental that they really invite a third party and i heard something interesting the other night i was to i was at a conference in virginia and i was talking to a guy was a political operative for howard dean you know i told him i heard a pop a podcast in which larry kotlikoff the boston university economists one of the only economists in the whole usa who has a you know a credible idea about anything had been talking about vising a possible third party candidate and i was

broke the law when they offered insiders a chance to own facebook stock above and beyond what the f.c.c. allows them to do in terms of a limited number of people eligible for this before the company post their financials so their response was well we're going to do it anyway and the f.c.c. is response was well maybe we need to change the law and this is what you hear almost every single week as an instance where the banks on wall street gallman j.p. morgan and the rest they break the law they break the securities laws they break all the they break major fundamental regulation other rooms are always says well your laws aren't catching up to what we're doing as financial engineers you know the law these are change because we're making a market work we're creating the opportunity why can't somebody just simply say look you're breaking the law and you need to be prosecuted you can't claim that your defense is that the law hasn't caught up with your genius yet that's the defense of a serial killer and a psychotic when the people make the laws they will then be able to enforce the law and how

dollars at a time in spending and then put it back at the end of the quarter i don't know where the f.c.c. is i don't know where the u.s. attorney general is this it's laughable that's number one number two if you look at them the movement that's starting to pick up a little speed in the united states people have been moving their money away from the big banks to the small local community banks and what we found is that these small community banks they're much more solid they weren't involved with the rivet if they were involved with subprime lending they embrace what we call boring banking they borrow money at four percent they lend it at six percent and they're out on the golf course that at four pm and that sort of local community banking that sort of credit union banking is potentially the biggest threat to the major banks there is six or seven. thousand of these banks in the united states some of them are five and ten branches large some of them are one or two they're all insured by the f.b.i. see so your money is safe there it hasn't been enough to affect their quarterly earnings ye

fraud for two hundred eighty five million of which ninety five million is the fine print with the f.c.c. remember we have a conversation we're saying that how do they get away with this idea where they don't want to admit for a just pay a fine but africa meeting fraud so just recall past how can a securities fraud of this nature of magnitude be the result simply of negligence and he also asked why citi group shareholders not the individual executives responsible for the alleged fraud are required to pay so once again this is the same risk versus speculators the savers take it they are quiet their obedience and here we have the savers behind the wave of citigroup speculators who were all involved in the fraud because remember bernie made off was able to defraud people of sixty billion dollars because they all knew most of his investors knew he was a fraudster but they assumed that they were gaining from it that he was just front running based on his insider knowledge the same thing is here's the shareholders just quietly saying ok will obediently pay this two hundred eighty five million

the f.c.c.ublished a final rule the federal register which is set to go into effect on november 20 to impose harmful net neutrality regulations on our nation's telecommunications companies. the digital world in which we now live, mr. president, has changed dramatically the way that we retrieve information, communicate with one another and engage in commerce. technological advances have pushed our economy forward. these advancements in technology and their adoption often depend heavily on access to broadband technologies. while the telecommunications industry has flourished, boosted our economy and made critical investments in broadband deployment across the country, this administration believes that imposing additional regulations is a step in the right direction. in places across the country like my home state of south dakota, there is still work to be done when it comes to unfettered and affordable access to high-speed broadband. with the f.c.c. voting recently to reform the universal service