kovacs, your the only one here that i do not really get. mr. cicconi, i appreciate the fact that you would come and accept our invitation and say what you have said and stand where you are standing. i have had policy disagreements with at&t. we see where comcast, at&t, small businesses, and consumer organizations, and economists are weighing in and saying that the rules are not menacing. what is missing is the -- what is menacing is the cra. i am glad we have had this hearing. it has cast a brighter light on what the committee is considering doing following the legislative hearing. i am grateful to all of you even if i do not entirely understand your views or increase them. that is what makes for a great hearing. right there. almost on the money. i have used my time. >> we are in the middle of a vote right now. we will recess now and resume the hearing immediately thereafter. some of you may have to depart. i understand that. our committee members will probably submit questions for the record for those of you who have to leave. for those who do

kovacic also at the ftc this audience does not need to be told that the ftc report was the staff report and bill did not necessarily endorse that and wrote the concurring opinion that raised interesting and important questions. he also served in has been a commissioner since 2006 through march 2009 and also served as general counsel to the ftc and prior to that he was at the law school faculty out of several places that most recently george washington university. it is a pleasure. [applause] >> they give for the opportunity to participate in the discussion. i will do two things this afternoon to give a summary of the principal observations of the ftc staff report them to identify three issues i think are valuable to consider to think about the policy. the ftc staff report has five basic and -- ingredients in one is a proposal that firms protect what the report calls privacy by design to take account of the full cycle of a product or service and privacy considerations to ensure that concerns are taken into account, not to retrofit systems at a later point* but think about these considera

kovacs said. i will be paraphrasing. she claims that the rules that the fcc adopted would hit revenue sources, damaged capital for investment. do you want to comment on that? i will ask dr. greenstein to give a comment on that. would you go to the heart of this whole issue of capital formation, business is thriving or not driving, whether the rules are held for our fall -- hurtfulor l? i think there is a virus in congress. it is not about net neutrality. it is about any kind of regulation and whether government agencies have the right to carry out rules in their regulations. >> when we think about it for and what we are protecting the court or the edges, the core is a duopoly. they have no competitive reason to make a good investment choices. we can invest in something or we can cut our costs. we can do more innovations from an operational perspective. there has been an argument that there is only one revenue source. there are lots of revenue sources. i do not buy the argument that if we are cutting 1 revenue source, the

reach down and got them, brought them out, it was like art. [ light laughter ] like watching ernie kovacat i mean? it was like television history. you people were here to see it. [ cheers and applause ] ♪ and the winner for "best bit" -- ♪ [ light laughter ] >> jimmy: thank you, justin bieber's movie, "never say never" for being in 3d. not because it made you more visually dynamic, but because with the 3d glasses on, no one could tell i was crying. [ laughter and applause ] there you have it. those are my thank you notes. [ cheers and applause ] we'll be right back with more of "late night." come on back. [ cheers and applause ] ♪ what makes a hershey's bar pure? ["melt with you" playing] pure fun. pure joy. pure delicious chocolate. pure hershey's. it's very sexy and sleek. [ male announcer ] we invited top stylists to test our new hair care line. i am dying to know what's in these bottles. [ male announcer ] then we revealed they'd been using -- new suave professionals. [ male stylist ] suave? i'm very surprised. [ female stylist ] i'm completely blown away. this does change my mind ab

reach down and got them, brought them out, it was like art. [ light laughter ] like watching ernie kovacwhat i mean? it was like television history. you people were here to see it. [ cheers and applause ] ♪ and the winner for "best bit" -- ♪ [ light laughter ] >> jimmy: thank you, justin bieber's movie, "never say never" for being in 3d. not because it made you more visually dynamic, but because with the 3d glasses on, no one could tell i was crying. [ laughter and applause ] there you have it. those are my thank you notes. [ cheers and applause ] we'll be right back with more of "late night." come on back. [ cheers and applause ] ♪ curtis: welcome back to geico radio, it's savings, on the radio. gecko: caller steve, go right ahead. steve: yeah, um, i just got a free rate quote on geico.com, saved a ton, and it only took me 5 minutes and 12 seconds! steve: i was wondering, is that some sort of record? gecko: that's a good question. let's have a look. curtis: mmmm, not quite. someone's got you beat by 8 seconds. gecko: still, i mean, that's... that's quite fast! steve: well, what if i tol