i care about fcc stuff. this is not fcc stuff. it is a bit overwrought. >> senator welch. >> i have two real concerns. one is that we get rural broadband widely and effectively deployed. number two, we have effective functioning fcc. that requires number one that we have some bipartisanship on this committee. every one of us represents rural areas. my republican colleagues in many cases have more rural areas that we do. mapping is critical to that. our understanding in vermont is that mapping is overstating the coverage. that has been the case for some time. we have been asking their not be distribution of moneys until we have confidence the mapping is solid. what say you about the mapping and what you will do to make certain that before we act on deployment, we have accurate maps to guarantee folks in rural areas on the dirt road in vermont have access to high-speed internet? ms. sohn: i recently spoke with christine hockley, the head of the broadband office in vermont. my wife and i have a very close relationship in our civil un

not at the fcc, as an advocate working at the fcc. and the locast board.at's why voluntarily recused, addressed those posts specific concerns. we are asking for is not tethered to anything other than just every single issue out there. when -- >> i would disagree, i would disagree with that. these are tethered to statements you've agreed with filings that you've signed your name too. so, it is relevant. i think my time is over. but this does have an impact. thank you mister chairman. >> thank you, senator baldwin. >> thank you, madam chair. thank you for appearing again in front of the commerce committee. your perseverance is admirable. and particularly in light of the attacks that have been made against your character. what's clear after your first hearing that you are qualified to serve as a commissioner of the fcc. it's also clear after your second hearing that you are well qualified to serve as a commissioner of the fcc. i am every bit as confident that it will be as clear by the end of the day today. at your third hearing, they were qualified and ready

this is not actually a new thing for the fcc. it's a newly vibrant sector of the economy but it was actually more than 60 years ago come sometime around the time to president john f. kennedy was giving a speech about putting a man on the moon, that the fcc help with the launch of the first commercial communications satellite, which is known as telstar one. newton minnow who was the president john f. kennedy's chairman of the fcc come by the way still going strong and 97, it bodes well, he told the president that it was all this attention putting a man on the moon and going there not because it was easy but because it was hard that communication satellite might be more important because they put ideas in space and ideas last longer than men. my aunt and would be, and women. what i do think is absolutely right and i been studying that history because it was how the fcc help support the first space age. so now as i sit at the home of the agency it really strikes me like we have to update our policies to help. >> enable the next gene

for three decades the fcc has had that authority. we have run more than 100 auctions in the course of this option would raise more than $233 billion, and to think we have delivered extraordinary value for the american people. those auctions have made us a world leader in the wireless and internet economy, and it is absolutely essential we continue to have that authority. this is a big part of digital age economic and national security. getting congress to continue to provide us with that authority is a big challenge for the future and it's one we have to succeed at. i don't want to see others in the world take over our leadership position in wireless and auction authority is a big part of making sure that we stay ahead of the pack. other big challenges, our airwaves are finite like i suggested we have to be creative about how we repurpose them. one of the challenge we face as a law called commercial spectrum enhancement act. that's a law that says if we repurpose airwaves that are used by federal actors for new commercial purposes, w

and challenges that the fcc has? you mentioned earlier thinking creatively, what are challenges that really need creativity? >> there are no shortages of challenges. last week, something happened for the first time in 30 years. that is the authority to auction off to russia airwaves and that is not a good thing. we have run more than 100 auctions and we have raised more than $233 billion and i think we have delivered extraordinary value to the american people. those auctions have made us a world leader in the international economy. it is essential that we continue to have that authority. this is a big part of digital age economic and national security. getting congress to continue to provide us with that authority -- i don't want to see others to govern our position in wireless. if we repurpose this for commercial purposes, we have to auction off those federal users. i worry that in the future that will put a real constraint on our ability to be creative. they will have a bias toward terrestrial services. a bias towa

this is not actually a new thing for the fcc.a newly vibrant sector of the economy, but it was actually more than 60 years ago. sometime around the time president john f. kennedy was giving ann speech about puttinga man on the moon that the fcc helped with the launch of the first commercial o communication satellite. newton minow, who was president john f. kennedy's chair man of the fcc, by the way still going strong at 97 -- he told the president that there was all this attention on putting a man on the moon and going not because it was easy but because it was hard of that communication satellite might be more important because they have ideas in space and ideas last longer. he was absolutely right and i've been studying that history because it is how they help to support the first space-age. and so now as i sit at the helm of the agency it strikes me we have to update our policies. >> to enable the next generations of ideas to be put in space. >> it's all starting right now and we want to make sure that our policies are up to s

but certainly one should think that the fcc with regard to crypto currencies that should be viewed as security as and the c, f t. c, with regard to those that should be viewed as commodities should be actively involved. both with issuers and exchanges to make sure that the traditional investment investment protections that we are familiar with for security and commodities are applied. and if there are gaps in those protections congress ought to fill them. the other general category is again, this notion of stable point is that it's a crypto currency, a digital point, the promises that it maintains parity with, with a currency, almost always the us dollar. to me that kind of crypto currency is money is really equivalent. it should be viewed as equivalent to an f d i. c enter deposit. and then for me that means that it ought to be an f d i. c entered bank regulated like other f t. i see enter deposits are regulated to give people the absolute protection they're gonna be able to get their money out dollar for dollar when they need it. after the break, we're going to continue our conversa

joining us now is adonis hoffman, a former senior legal advisor at the fcc.ou so much for sharing part of your sunday morning with us. do you think there is any chance that this testimony by tiktok's ceo could do enough to change hearts and minds on this? >> good morning, boris. you know, it's interesting. china policy is one of the few areas why democrats and republicans seem to have raging, raging bipartisan agreement. i think the testimony coming up this week is going to give congress an opportunity to do two things. one is to clarify the true intentions of bytedance and tiktok. you know, is all of this -- are all those allegations merely coincidental, or is this, in fact, a coordinated, concerted effort by tiktok and, you know, actually by china, through tiktok, to do nefarious -- conduct nefarious spying activities on americans? >> so the biden administration wants tiktok's chinese owner to sell their stake in the app, but the ceo says that won't offer any more protections than a plan they put forward, including storing americans' data in the united stat

what it is the fcc doing? let's look.ote unlikely to transmit text messages, numbers which are invalid, unallocated or unused or numbers that the government says are not used for texting at all. that's basically meant to prevent texts from being spoofed or sent as impersonations as government agencies. the fcc is considering future rules that would apply do not call protection toss these sorts of text messages in the future, but, that's a proposal for now. we'll see how that goes. >> coming up, the white house just responded to the international criminal court's arrest warrant issued for putin for war crimes. . stay with us then, they just picked up the cacar and paid me right on the spot. sell your car at carvana dodot com today. wayfair's got just what you need for your home. do they have stylish beds at great prices? this bed is dreamy. what about five star dining sets? you're kelly clarkson. i love your work. find just what you need at wayfair! even a personal sauna. ♪ wayfair, you've got just what i need ♪ as a busin

and so therefore, the more fcc corn you own, the cheaper the services that you're going to pay for, or i'm sorry, the cheaper price you're going to pay for the services on the f b x platform in order to go ahead and trade. now here's where it gets back. what happened was alameda, which is also owned by sam bank and fried which is a hedge fund or an investor on the s t x platform. had no constraints around what collateral role or posting requirements it had with respect to which investment. so if you are, i were trading on f t x and we added a trade that was particularly bad. the exchange would immediately liquidate whatever it. ready is that we had on the exchange in order to satisfy the call on the value that we had loss. ok, so would have put f t x in jeopardy. however, alameda, which was the largest counter party to f t x had no such constraints. alameda put on a lot of bad trades, lost a lot of money, and in turn caused f p x to lose a lot of money, and that's where everything broke down. now also you had mentioned this, but let me highlight it. alameda to alameda actually took mon

government that i'm aware of. >> so would you beeou up to the task -- theha fcc be up to the death? >> that would be a great idea. ask them to write a report. >> okay. mr. lewis? >> senator, you estimate section 230. while we are very supportive of these efforts to promote competition i think section 230 and the issues around it are different issue. section 230 was crafted to support the use, the creation of third-party content online. but the choice to moderate it and the choice not to moderate it,at and i think it's an essential protection that combined with smart competition policy actually gives folks choices to express themselves freely on whatever platform they choose to base on the moderation practice that that platform uses, transparency of those practices is important. i think you process is important but speedy i guess you and i are goingre to disagree. >> thank you. so you asked what lessing can be learned from the enactment of the dma. i think one important lesson is, is what you reference, is we see that you can pass legislation here to rein in the dominant digital plat

so even if the fcc cracks down +-■] overseas.think it's fair to say they're saying that right now. it's notq so much that they're too strict. at least, according to crypto v advocates, it's too confusing. people don't know what ist( these two totally difñeq■çó ñr narratives. narrative and the fccb.■ narrat. the fcc says play by the rules, if you do, we'll work with you. but the crypto industry is saying we tried to play by your rules and tried to comee1 in th front doorñm9 asp wall. there's now3 path & fo exchangu/[■ soe1 that's where the issuexdxd. we are hearing more and more of that, and we don't really know how to be safe here inx;■ the there's other place where is crypto exists. why not just go there? i think we!u■ will see that, an that may be÷ intention. >> what happens to the money invested in thesee1 projects?nb■ at least bitcoin asset class is doing well, andv the investment casee1 forht+ese projects. butok i would imagine that d.c. folks would be having cold feet in te"ms of putting money into a venture which may not h

it is very fond of criticizing fcc for enforcement. if they have willingly chosen to operate outside of the regulatory program tour -- realtor. most cryptocurrencies are securities that need to be registered with the commission. the soc has filed enforcement actions. the only people who seem to be confused about this is the crypto industry. >> thank you, professor. your testimony, how to extend safeguards to crypto exchanges, what are the established safeguards that could benefit consumers and prohibit conflict? >> thank you so much for that question. self-regulation of this market has happened for as long term. the extremely powerful, extremely important parts of the institution, what would happen if they were not required to do so? we have a marketplace where we are using the self-interest of the exchanges to provide a public good. what they do provide is having expertise within the marketplace . they are responsible for enforcing standards of preventing fraud, manipulation. this oversight is not perfect, senator, but at the same tim

again, the investigations will be in the very preliminary stages and the fcc will be looking at whethere are potential rules violations, and they'll work both in the criminal division, as well as in the local u.s. attorney's office, as to whether or not there is any criminal exposure for those, as well. >> christine, you've been doing a lot of reporting on this. what more are you learning about how svb collapsed? was this a modern version of an -- >> it was a text message, social media, digital banking bank run. in 2008, when washington mutual, the biggest bank failure in american history went down, it took ten days for people to withdraw $16.7 billion before that bank collapsed. in this case, it was 24 hours am $42 billion. the reason is because these venture capital owners were calling their start-ups that they invested in saying hey, they're trying to raise money at this bank and having trouble. you need to get out of the bank. it spread like wildfire. and people were sit thing on their phones and desk tops, moving their money out as fast as they could. i think that contagion, that f

we filed a complete with fcc, here's what rupert murdoch said he did, here's where the fcc lies, follow through on it now and get maximum accountability and consequences. that's one piece. the other pieces, and i think this does tie into this broader conversation, where the power and the profit meet together. fox news derives a lot of its profit from leveraging its power, not just politically, but to really drive up their relationships with cable companies. fox news is the second most expensive channel on the capable. >> carriage fees, sub fees. >> and the dirty secret about fox news, they don't need a single and to be profitable. they would still have a 90% profit margin if they had zero dollars an advertising revenue. the same way that one american news was hand held accountable in part because of what they were pushing about the conspiracy theories, it's also they were overpriced. six times market rate. that's with the cable companies were paying for them. fox news is overpriced right now. it's overpriced. they are not consistent with market rate, part of the reason they were able to

the fcc took issue with w b a. i, based on a complaint by a listener who was in his automobile at the time of his son, and he claimed that it was indecent. claimed that it was an invasion of his privacy and that his son shouldn't be subjected to that. the seven words you can't say on television don't exist before george carlin. those are not seven words. you can't say on television. he put those words together because of . recently it goes into the court record and the fcc everybody pretends that these are the actual words he created the very battle that was fought against him. the federal communications commission said that new york's w b a. i was wrong and playing the record. fcc imposed no punishment immediately, and the supreme court agreed. i was raised in a time where using bad language was associated with people of low intelligence, and he helped break that stereotype for me. carlin even has a bit so such thing as bad words. there's bad intentions, but there's not bad words you know, so i that that was freed

the nominee to head the fcc is the latest to say, thanks, but no thanks.if on cue, the pm play book just came into my cell phone, ask the headline is two biden nominees hit senate speed bumps. what can you tell us about those? >> yeah, this is for president biden's nominee for the irs commissioner, senator joe manchin, a democrat saying he's going to vote against him. he has some issues and concerns over him having autonomy to do his job, but it looks like that that position may be safe. senator biden said he will be confirmed, he'll likely be confirmed. but erin garcetti who was nominated for the u.s. ambassador to india, he has been dealing with issues for nearly 600 days. the senate ranking number said that he was pulling his support from him as well. this has happened over and over and over again as we move forward over these 600 days is how he handles sexual misconduct allegations against a top adviser, and that's something that eric garcetti had dealt with for a long time. it doesn't seem to be changing. both of those things are happening and the oth

however, we also have to keep in mind that neither the fcc nor the pentagon could easily just enforce a band, because technically tick tock is just another platform to practice a freedom of speech. and this is the 1st amendment right, right here in the united states. certainly a nuanced situation in uh, st. paul washington. thank you so much. while sticking with tech, the u. s. government will require chip makers receiving subsidies to share excess profits. the by the administration announced on tuesday, the chips act is a cornerstone of the government's plans to compete with the likes of china and global markets to secure the supply of semiconductors, which are increasingly vital for electronic supply chains and national security. the act plans to hand out some $52000000000.00 to boost semiconductor production. but now companies are learning that the cash comes with a cash. well let's get more for on this from our correspondent teddy auster at the new york stock exchange. hi there, teddy. tell us what are the stipulations for chip makers that would receive this funding? well, the ori

say good-bye to the president's to run for the fcc. lying to congressional makers, gigi song finally withdrawn her nomination. that comes after joe manchin announce he'll oppose her bid. it had been a long, strange trip for her. for those of you playing at home, the commission, fcc is currently comprised of a pair of republicans and a pair of democrats. song would have had the tie-breaking vote in any regulatory rules that may have come across the desk. now, they're going to have to be bipartisan because she will no longer be the tie breaker. fairly well, trace. >> back to a standoff. kevin corke, thank you, jason shaffetz, it is great to see you. president biden wants to raise taxes in the new budget. i want to fact check the president here. this is 2020 from the irs, the top 1% of taxpayers. that's $550,000 paid 42% of the country's income taxes. i would say jason, that's pretty much their fair share. >> yes, it is a pretty aggressive number. it is just a talking point. it is a bumper sticker politics that biden puts out there where

, some of those banks to sell assets for a loss and that could actually feel the lead to a bank run fcc. and with silicon valley bank, if you look at some of the big things, for example, i mean j. p. morgan is such a big player so that what is happening is not so threatening as to see in the smaller players. so we definitely have to wait and see if the, what the federal reserve is doing that the, the trick. and there is one positive thing out of the financial crisis of 2008 because we learned a lesson or 2 how to deal with bank runs. that maybe that is helping this time around, that this banking crisis is not turning out into a big of a financial crisis or a young quarter falling all the turmoil in new york. moultrie, thanks very much robbing fuel those fears were midsize lenders, is the concern that like silicon valley bank, others may be sitting on undervalued assets, due to recent interest rate hikes. now, when interest waits, rates were low, banks deposited funds in to long term bonds. seem like the smart thing to do at the time, but interest rates have climb dramatically over the p

master license agreement that is fcc compliant, so it has fcc compliant rates and practices. the puc5 existing master licenses remain in effect so the licenses remain in effect until they expire and the license fee is capped, the puc has modified in this agreement the permit and activity fees schedule to insure we get cost recovery. we added new activities to the fee schedule. for example, we are charging fees for performing site visits and field repairs, for use of the conduit, things we hadn't before. once the mla master license agreement before you is approved, the carriers will be paying the rates and fees that are listed in this new agreement for any new instillations. the commission secretary read out the agenda item which was inappropriate. it included a error, ours not hers. that it listed mobility among those carriers. we don't have agreement yet with mobilitie but do with crown castle so a note to self-it isn't mobilitie, it is crown castle. we'll go to the board for approval because the master licenses are 12 years in term or could result in revenues greater then a

says that it expects to be targeted by the fcc house. who significant could that be for the crypto industry that i think would be various the navy and especially 40 us crypto industry. if coin base is targeted for listing certain tokens for offering is taking service and offering as well. service then, you know, these are the actions that most exchanges in the us also, you know, undertake. so it could be the beginning of, you know, a wave of reports and actions against most of those changes that are currently operating in the us. and it's going to be as loses lawsuit if it goes to trial and loses against, you know, in court lives as an appeal. then that would be a very, very, i was a alarming signal for utter crypto exchanges in the us. it could drive users and traders to decentralize the changes or to utter offshore platforms in an effort to try and you know, continue acquisition market which would still probably result in lower participation. and, you know, arise and let's see, sketch your platforms to operate on. all this comes in mom

the telecommunications act because give the fcc authority over communications over wire and radio.hat else do we think the intere net is? st the communications going over wire and radio. sometimes it's a fiber optic wire, sometimes it's radioal to a mobileet device. this is why we've allocate for authority with the fcc, but that's a different topic. >> butre if we're dealing with digital markets so overwhelming in size, amazon commanding 40% of the e-commerce market in the united states, six times its nearest competitor, google controls 93% of online searches, apple holds tight grip on 1230 million plus iphone -- 120 million plus iphone users, do we really think the federal trade commission iss up to the challenge? mr. lewis? >> i'd be happy to address that. >> ms. lewis. >> as somebody who's a former employee, enforcer at the fcc, and i know i'm not alone in that as professor francis was a former ftc enforcer, i absolutely think that the ftc and the doj are up to the task of applying the laws that we're discussing today should they become law to these markets. more expertise is ce

what we have seen recently is actions from the fcc. of the enforcement action as of late from the fcc has been around digital assets not being properly registered as securities. there is a huge question around what the proper definition of a security is and how applicable it is to digital assets, that is why you have so many crypto companies fighting against. there are not clear rules of the road in the u.s., that is something up to congress in theory. yet, congress has not been able to have a consensus around those rules. that is something we are on the lookout for in washington in the coming months. alix: thanks a lot. you can catch her crypto show at 1:00 p.m. eastern every tuesday. guy: the time is changed. we are back to five hours, the close is back in the sour which means this time we went back to last order. here are some stocks moving today. as a result of some of the big calls out there. barclays but novi, app -- barclays vonovia. which shoe could be the next to drop? one of the big german property companies, down today. too

choose any erpower -- >> i can't say on the air what my superpower would be but for purposes of the fcc would like a heliport. >> i've always wanted to be able to fly since the peter pan days and there' a company that created a jet suit that lets peopl fly through the air and want to take things a step further. flying suit wants to create and internatio organization for competi worldwide. > joining together in iconic who case over water pushing the boundaries of human and machine techgy it's going to look like a mash up of red bull meets marvel superhero. every time you can believe you're steppig off the ground flying like you do in that crazy dream. >> the jet suit set a guinness world record in 2019 going 85 miles per hour i saw james bond doing it in thunderball. it was coolest thing ever. >> what would your superpower be? >> in (male announcer) up next, how would you like to get the celebrity secret for ageless skin? (female announcer) find out how in this paid presentation for meaningful beauty. (male announcer) as cindy crawford unveils her newest youth activating breakthrough. (f

this morning, i'm going to give a brief overview of the fcc's role in the appraisal regulatory system and recent initiatives to address appraisal bias. first, our to thank secretary fudge for her very kind words. they are really greatly appreciated. the appraisal regulatory system in this country is truly unique. you will find nothing like it within any industry in the united states or abroad. the system has been in place since 1989. when congress determined that the appraisals play a vital role in the financial system and need to be regulated. the appraisal regulatory system consists of three main participants. the private sector, the states, and the federal government. the most unusual aspect of the system is the nature of the authority afforded to the private sector. the appraisal foundation is a nonprofit organization that was given the extraordinary authority over the appraisal industry which directly affects states, financial markets, and consumers. that authority is related to developing and issuing standards and ethics that appraisals must follow when developing and reporting

we are impressed with of the relationship between the fcc and enforcers whether they work together onhese mergers and looking at a different standard at the public interest and so the digital regulator would be able to do that to address things that can't be dealt with through competition policies. we are interested and supportive of the challenge to set up but i think taking the time to look through the harms you want an agency to address and giving them the proper authority to do so and resources to do so we invent airplanes and have an airplane regulator. we have a drug regulator. there is no regulator for digital and there's a lot of problems as a result so i agree. >> thank you for talking about that. and you noted that at the dma that europe has passed the companies are able to make the appropriate adjustments so there's nothing to say that we can't pass that aicoa is narrower than the dma. to give you a more complete answer i would want to get back to you in writing but i think that i have done a comparison of that. >> we would appreciate but the world isn't going to come to an

the fcc said you're right. i'm sorry. you know, you can't sell fax machines commercially. they have to be limited to post offices. you can see what would have happened to the roll out that technology if, by the way, the final irony here is, is i'll mention machines to college students and they say, what's a fax machine? it's now obsolete. right. but there you go. that is the mentality of government that will decide it wants to going on and on with those examples. and you know, john mentioned, what's our future now with a.i. and biotechnol? all kinds of problems, stuff of how people want to get it and, control, all that back. just i'm just free associating here. i just read yesterday that there's a world government conference going on right now in doha. i didn't know we had such a thing and meets year it's the same people the world economic and there was klaus schwab saying we need to have some world institutions to govern artificial intelligence. so there we go. it. so the point is the rest of coolidge, which has been commented on several times, counts as an achievement of

on television and say something you know better than, someone could challenge them in terms of the fcc you're not saying something that you believe that ends up wrong, you're saying i don't believe, it's crap, but i'm gonna say on prime time anyways. >> that's the thing, there is one thing to say that a media outlet is right leaning, or left leaning, but there's a difference between leaning and line. and you saw in those text messages between laura ingraham and tucker carlson, this is what our audience came here, for directly related to accurately calling the arizona election. isn't there a rocket that your straight-up lying, you're in different territory here. >> it's interesting to see the discovery-- with respect with what paul is saying, but it's astonishing to see these comments and see how much they were communicating with people on the business side of the organization, including with rupert murdoch. i will say of course, i'm grateful for not having many dealings with the people in the companies that i'm dealing journalism. for but it's extraordinary -- rupert murdoch saying thi