>> to clarify my position, i'm not against net neutrality as a principal, i'm against net neutrality as legislation. i primary motivation there is i am against further government intrusion on the internet. so i see the u.s. government is not thing that trustworthy steward to take care of the internet and ensure an open internet. i don't like the telecoms. i'm definitely not on their side. but i see the telecoms as bad and he was government as worse, and i don't see how we add up that plus worse and end up with better. >> your response? >> this is about protecting the rights of telecom companies or protecting the rights of u.s. government, but protecting the rights of internet users. we have had a long tradition of regulation of internet providers. there is a misunderstanding here that net neutrality is a regulation of the internet. like service providers comcast, time warner cable, verizon and at&t. there is a long history in communications law of regulations that protect the public interest. these are companies when they come into your community, have to lay there lines, dig ditches

that is where the term net neutrality comes from. what the federal communications commission is considering is the idea that there might be the ability of internet service providers to charge those websites for wanting to travel faster than other sites. the argument of net neutrality is if internet providers are able to decide winners and losers online, that the next going the or facebook or whatever else will never get off the ground. upstarts will never afford the fast lane and will be at a disadvantage. >> the big isps are multibillion concerns with legions of lobby yests at their -- yists at their -- lobby efforts at their disposal. the american satisfaction index came out, concluding that of the industries, isps came in dead last in customer satisfaction, below the cable television industry, and many of those isp and cable companies are one and the same. with two of those megamedia conglomerates. time warner cable and comcast in talks... >> this transaction will makes bigger, that's a good thing. >> the prospect of greater conce

he shows me how to use the dark net.used a special program to log on anonymously and pulled up his history of psychedelic drugs, lsd and dmt. he used them using bit coin and the drugs arrived by mail. he said the dark net is freedom. >> it is like an amazon for contraband. if there is something i want and i can't get it on the street which i try not to because it is dangerous to get that from the street. >> reporter: the dozens of market places on the dark net have all sorts of drugs, illegal ones and ones that require a prescription and guns. here is an ak47 for $2,200. no background check required. you can buy a bulk pack of working credit card numbers for $10. rent a hacker to ruin's someone life for 280 or hire a hitman for $10,000 with a few exception. no children under 16 and no top 10 politicians. the college student defends most of it, but not the exploitation found on the net? >> how about the child porn? >> that's a whole other story. i am not condoning child pornography. actually we know a group of people that

he shows me how to use the dark net. he used a special program to log on anonymously and pulled up his history of psychedelic drugs, lsd and dmt. he used them using bit coin and the drugs arrived by mail. he said the dark net is freedom. >> it is like an amazon for contraband. if there is something i want and i can't get it on the street which i try not to because it is dangerous to get that from the street. >> reporter: the dozens of market places on the dark net have all sorts of drugs, illegal ones and ones that require a prescription and guns. here is an ak47 for $2,200. no background check required. you can buy a bulk pack of working credit card numbers for $10. rent a hacker to ruin's someone life for 280 or hire a hitman for $10,000 with a few exception. no children under 16 and no top 10 politicians. the college student defends most of it, but not the exploitation found on the net? >> how about the child porn? >> that's a whole other story. i am not condoning child pornography. actually we know a group of people

he shows me how to use the dark net.e used a special program to log on anonymously and pulled up his history of psychedelic drugs, lsd and dmt. he used them using bit coin and the drugs arrived by mail. he said the dark net is freedom. >> it is like an amazon for contraband. if there is something i want and i can't get it on the street which i try not to to ge dangerous to get that from the street. >> reporter: the dozens of market places on the dark net have all sorts of drugs, illegal ones and ones that require a prescription and guns. here is an ak47 for $2,200. no background check required. you can buy a bulk pack of working credit card numbers for $10. rent a hacker to ruin's someone life for 280 or hire a hitman for $10,000 with a few exception. no children under 16 and no top 10 politicians. the college student defends most of it, but not the exploitation found on the net? >> how about the child porn? >> that's a whole other story. i am not condoning child pornography. actually we know a group of people that are d

but net neutrality is now at risk. and from it's supposed guardian, the federal communications commission. the fcc chairman tom wheeler is circulating potential new rules that reportedly would allow internet service providers to charge higher fees for faster access. so the big companies like verizon and comcast could hustle more money from those who can afford to buy a place in the fast lane. everyone else -- nonprofit groups, startups, the smaller, independent content creators, and everyday users -- move to the rear. the net, neutral no more. a final decision on the new rules isn't expected until later this year. meanwhile, you have the chance to be heard during an official "comment period." we'll tell you more about that later in the broadcast, but first let's listen to two people who monitor this world and strive to explain it to the rest of us. susan crawford is a visiting professor at harvard law school, a contributor to bloomberg view and author of this essential book, "captive audience: the telecom industry and

are they in favor of net neutrality?ory johnson is back with more on how this argument factors into the broader argument. >> i do not care about people. i care about business. the net neutrality issue is a big one. this is about innovation and the ability of companies to invest. they have to get to the potential customer. al gore did not invent the internet. but he did invent the phrase "information superhighway." that explains this controversial idea of net neutrality. let's take a drive. beasts.ling beasts. guzzling a metaphor for a video we pull out of the parking lot. avenue.he interstate he, as fast as 100 gigabytes a second. a handful of private companies like at&t, centurylink, and their fellow travelers are traveling at the same fast speeds. is owned by a small group of individuals. it is called comcast, time warner cable, verizon. they follow different rules of the road. we may have gotten off the highway at blazing fast speeds, but now we're in a traffic jam. people like netflix are able to pay for their own fa

there'd be a zero net force. what's the net force up and down over here? - zip. - zip. so what's the change in motion? zip. and what do we call the change in motion, beginning with the a. - acceleration. - acceleration. so what's the acceleration if there's no net force? zero. zero, that's right. that's newton's first law. that if no net force acts on an object then the object won't accelerate. and we learned last time that acceleration is a 50-cent word for what? change. you remember that? see. if there's no change then there's no acceleration. and newton says, "there'll be no acceleration if there's no net force." that's why things that are sitting at rest, no force acting, no net force, can stay at rest. you get something moving, no net force acting, what's it gonna keep doing? stay moving. it's going to avoid change. and that's the idea of inertia. people that way too. some years ago, i was working in-- i used to be a silkscreen printer, sign painter. i used to work for a living before i got into this. and i used to work in a factory, silkscreen printing t-shirts. a

he is targeting net neutrality. tom wheeler, who was president obama's nominee, was the head of this cable lobby. was expected, do you think president obama should now fire tom wheeler? he is the one who appointed him. i believe the president made a pledge before he became president to keep it in place. i think he should honor that. powell was the one who categorized, in 2002, when he he categorized the internet as an information service. all we need to do is change it to a telecommunications service and that gives the fcc every authority it needs to protect net neutrality. as you can see, this is a sort of revolving door, which is kind of disturbing. >> they switched places but seem to be doing the same job. in the senate, who are your allies, and how does something like this get done, to because of it as a utility -- reclassify it as a utility? >> he did open that up to discussion in this new culinary rule. again, there was kind of pushback from what he got several weeks ago when it leaked out that he was talking

it can be found on what is called the dark net. u.s. government is making it possible to use the dark net. and research on the story, i discussed it with my 12-year-old son z how to hire a hit man this, is real. we should know who is out there. i met a student just south of gilroy who describes himself as an an arcist. he agreed to show me how he uses the dark net. >> we're there. >> and pulled up this history for psychedelic drugs. lsd and he says dark net is like freedom. >> i try not to get things on the street. it's dangerous to get stuff on the street. >> dozens of marketplaces have all sorts of drugs, illegal ones and other that's usually require a prescription, and guns here is an ak 47. no background check required you can buy a pack of working credit card numbers for $ten. rent a hacker to ruin someone's life z no children under 16, no politicians the college student defends most of it but not exploitation of children. >> i know a group of people dedicated to take down the porn on the dark web. >> it's like the wild west. >> th

underneath the safety net. and then you encouraged the leverage that comes with that. when you looked at these institutions, their whole idea was to push leverage up. so let's say the commercial bank trading in these activities gets a bad trade. they are trading for their own account, whatever it is. the broker rules are supposed to address this. but even under the inventory model. you go to the market, and you are short, and the market moves against you. if i'm a hedge fund, i either come up with the capital, margin call, or go out of business. but if i'm a commercial bank with access to a discount window and enormous liquidity, i go in, and guess what, i work my way out of a bad hedge with more positions. who can compete with that? it is unfair competition. it gives them a competitive advantage that no one else has. and guess what? they are the ones that survived. sthats one of the reasons you have seen this enormous increase in size, complexity, and concentration within the industry. i would separate it out.

-- net neutrality? >> i'm sarah morris. i am the senior policy counsel for the open technology institute. we have been long-time advocates for open internet protection will stop i think those words will get misinterpreted and tossed around stop we, this with a strong concern that the internet is not just a platform for innovative business models. is a platform for innovation itself. and for unfettered communication access among users. at the commissioners pointed out, this is not just about companies. this is about consumers and users and their ability to participate. to answer your question about what this means for the future of the open internet and our general reaction, this rulemaking is quite comprehensive. forredicates the framework the new net neutrality rules on a legally shaky ground. the framework itself is difficult to apply in real life. it will not afford the same types of protections that we saw before. thinking pretty critically about what this means. there is a long way to go. >> thank you. as a communicati

it can be found on what is called the dark net. u.s.ernment is making it possible to use the dark net. and research on the story, i discussed it with my 12-year-old son z how to hire a hit man this, is real. we should know who is out there. i met a student just south of gilroy who describes himself as an an arcist. he agreed to show me how he uses the dark net. >> we're there. >> and pulled up this history for psychedelic drugs. lsd and dmt. he says dark net is like freedom. >> i try not to get things on the street. it's dangerous to get stuff on the street. >> dozens of marketplaces have all sorts of drugs, illegal ones and other that's usually require a scription, and guns here is an ak 47. no background check requidre you can buy a pack of working credit card numbers for $ten. rent a hacker to ruin someone's life z no children under 16, no politicians the college student defends most of it but not exploitation of children. >> i know a group of people dedicated to take down the porn on the dark web. >> it's like the wild west. >> ther

has got to defend net neutrality. and i think these 19,000 people represent the vast majority of the people in this country who understand how important net neutrality is. and i just want to take this opportunity and take a very few moments to share some of the comments that i received through my web site. anthony drake of moreno valley, california -- quote -- "net neutrality is vital for a free and open internet and the economic advantages that is throughout our nation and the world. please work to reclassify i.s.p.'s as common carriers under title 2 of the communications act." stam ford, vermont, resident roy gibson concurred -- saying that internet providers should be treated -- quote -- "like utilities." and i agree with roy gib gibson. reg jones of vermont said, "president obama must uphold his campaign promise to uphold net neutrality. net neutrality should be mandated, as president obama promised. any attempt to allow differential speeds and access to the internet should be squashed and those who propose it sho

acted to protect net neutrality in the past and if so how so the f.c.c. has acted in the past to protect net neutrality in two thousand and ten you know they issued this open internet order that we've been operating under. until about six months ago that basically set up a framework of net neutrality about six months ago the court a federal court in d.c. struck that down of course and this part gets a little bit in the legal leads and just bear with me for a quick second here in two thousand and ten so so right now the internet is classified we talked about this earlier is classified as an information service instead of a telecommunications service because it's an information service which is under something called section seven no six sorry this is nerdy. because it's under that search the court said seven o six you can't do what you're trying to do you can't protect net neutrality in the way you're trying to do it f.c.c. under this section of the law so we think that in order to protect net neutrality as the f.c.c. has tried to do before and according t

s net neutrality rules. granted under 3 g. section 62 of the proposal suggests no blocking rule that -- the no blocking rule was applied a different standard to mobile broadband internet access and mobile internet access service was excluded from the unreasonable discrimination rules. we're seeing mobile getting faster now and with the new spectrum options even faster than fixed. i appreciate and agree that we're talking about one internet with open and equal access. with my colleagues in rural areas. i've shared before if there's a conversation about taking phone calls with band withcapabilities as well as streaming of content on airplanes in rural america we should be able to get the same treatment. i don't understand why we're not there yet. but nonetheless, it's coming. so i'm hopeful that as we have this conversation that we're able to have equitable treatment. i know that there is, as i read in the proposal, that there's elements of asking for a look into this in the rule. but i'm certainly hopeful that this will be trea

i worry on the net neutrallyish sure, and it goes back to my -- neutrality issue. chairman wheeler has highlighted he plans to use a provision known as section 706 which was brought forward in the court case in the d.c. circuit, and he plans to use authority to have it in this space. i worked on that provision as a congressional staffer, and so i have different views on whether it is allowable to use that for this piece. i disagree, i disagree with the court. so i have to get past that hurdle. that's a big one for me to get past. but then i get to the question of is there a problem that we're solving. and in here there isn't a problem. there have been, you know, antidotes, there have been prospective problems, and people think what could be the harms in the future, but they don't actually have any instances today. today our broadband providers are providing a good experience and complying with simple principles they think meet the pest needs of their consumers. so i don't want to regulate in the future what may happen. so i raise concerns there. three is unintended

innovation has happened not just while we have had net neutralities, because we have had net neutralitiespen because of net neutrality. we have to maintain that. >> you're worried about the -- finish your thought, sorry. >> you asked about delivery of television and ownership of content. that also is a concern of mine. bloomberg, there is a relationship there. we will have more after this quick break. ♪ >> welcome back. senator al franken has been one of the most outspoken opponents of the comcast time warner merger. we spoke with him earlier today. this is part two of that conversation. >> what do you think the government is actually going to do in this situation? tom wheeler seems to be moving that action as well. how do you see this ultimately playing out? >> comcast has not paid members of the judiciary committee. they have a lot of lobbyists and a lot of executives. they have contributed money to members of the judiciary committee. i don't want to comment on that. as far as tom wheeler, you mentioned that there is a revolving door. michael powell heads up the cable association. so, y

google favors net neutrality.ory johnson has more on how this net neutrality argument factors into the broader thing of what is going on with comcast and time warner. >> as i always say, i don't care about people, but businesses. net neutrality is about innovation. it's about the ability to invent stuff and the same -- and have the same speed as every other competitor to the customer. check this out. but al gore did not invent the internet -- >> al gore did not invent the internet, but he did invent the phrase "information superhighway." to understand this metaphor, let's take a drive. guzzling vehicles like steve mcqueen in 1978, a metaphor for a video pulling out of the parking lot. we hit the interstate with the internet. by companies like at&t, etc. all of our fellow travelers are going at the same fast speed. but that last mile is owned by a small group of service providers like comcast, time warner cable, and verizon. and they all have different rules of the road. we may have gotten off the information super

discussionow at the on a net neutrality proposal.hile it would ban them from blocking or slowing down access to websites, it would allow them to charge netflix for more reliably dutch revival service to their users. this forward move and begin formally collecting public comment. this is about one hour. >> [indiscernible] [applause] >> the internet is our free speech. we're losing our rights to free speech. >> [indiscernible] [applause] >> [indiscernible] >> [indiscernible] >> ok, we now have -- >> [indiscernible] >> for the may 2014 meeting of the federal medications commission, let me begin with a couple of housekeeping items. first of all, we have a particularly full agenda today, and so for the benefit of my colleagues, we will be taking a break between the third and fourth items of about 10 minutes. we will be coming back quickly for that. i just want to say at the outset insofar as before the meeting began, there was some activity here. the purpose of what we are doing here today on the open internet is to make sure that we hear

gain or net loss in the housing unit. the net gain of housing unit are added through the residential structures and the legalization of the unit was for conversion from the commercial to roinlt and it is for taking away messenger of the illegal unit are conversion from residential to commercial and the main findings is how the city report is from 2007 to the 2014 housing needs or the arena target. the report also covers a variety the topical information reported by various zoning district by planning district and by district area plans and other areas of focus are including condo conservations and changes to the residential hotel. in addition the tendencies in the report talk about the pipeline issues this is the likely housing construction activity in the future and the projects in the pipeline are planning department projects that are already authorized for construction. furthermore, the report look at how's production and accounts for the requirements inclusionary affordable housing program. now i'll take you through 2

neutrality advocates worry that new proposals abandion net neutrality.re you worried the new rules will do that. >> yes. the proposal put forward by the chairman does exactly that. the proposal has to allow for room for negotiation and discrimination online. that is the legal foundation that he chose to build the rules upon. it can't be other than what it is. that's why so many are upset about the proposal. people protested outside the f.c.c. on the day that the rules were voted on. people expressed concern about the rules. hundreds of non-profits and investors. in is something that landed with a thud, and created a lot of concern for the internet economy and internet users everywhere. >> the heat of the emotions in the video. verizon communications, which brought the initial court challenge to the commission's previous open internet rules issued a statement warning subjecting broadband to strict oversight. why are company like verizon worried about the ruling? >> verizon said, when they argued the case in court that they'd look for arrangements allowing

now the commission is trying to cast a wider net of authority. service providers could become ensnarled in the future. becase it proves to inadequate for this regulatory boondoggle the notice explores , years of investment by reclassifying access as a title 2 service. the commission examined applying monopoly era telephone rules to modern broadband services solely to impose unnecessary and defective net neutrality regulations. courts can recognize that they -- an agency may legally reverse course as long as it is adequately explaining the reasons for changing its position. i am concerned about real-0 -- real world impact that such a decision could have on the communications industry and the economy as a whole. the current framework has provided a climate of certainty and stability for broadband investment and internet innovation. i also worry about the credibility of an agency that consistently fails to meet statutory deadlines to eliminate all rules by supposing obsolete -- hold rules but is supposedly open to applying obsolete provisions. the n

on net neutrality. i've argued, many advocates for net neutrality have argued that paid prioritization represents a fundamental departure from the internet as we know it. just restating what is obvious, but i think that when you have hundreds of thousands of people communicating from across the country to you on it that it is important to raise. as a policy, not as a legal question, do you think that paid prioritization should be blocked outright? >> so i have said, congresswoman, that i don't believe there ought to be haves and have nots. >> no, just answer my question. tell me. do you think it should be blocked outright? >> we have asked that question in the rule making. and what i have said is that i believe that under section 706, anything anti-competitive or anti-consumer is competitively unreasonable and therefore, can and should be blocked. that becomes the trigger for how you deal with paid prioritization. >> yeah. now what happens -- >> the question you per se asked, we asked how and when. >> w

"star wreck" enjoyed success thanks to the net. it's the next generation, the web is the only way to go. do have you a direct connection with the fans? >> you work with the fans for ages. you know exactly how to sell the film to your fans. giving access there, it is, i believe, the level way - serves the film itself. >> economics was released in deleters, but not before viewers had a chance to buy and watch it online. there is a real push at cannes to bring power to the pixel, putting the makers in control. albeit with a healthy warning. >> the fact you put something online doesn't mean everyone will see it. you need a good story, film and piece of work. >> reporter: this had an exclusive online release. the sequel is in production. it's being brought into focus while the big budget blockbusters may stake to the old way, for the smaller film-makers, there's nothing to lose by helping themselves. >>> hong kong is in its second year of hosting the international arts showcase art basal. artists and collectors gathered in a city associ

innovation has happened not just while we have had net neutrality's, because we have had net neutralitiespen because of net neutrality. we have to maintain that. >> you're worried about the -- finish your thought, sorry. ofyou asked about delivery television and ownership of content. that also is a concern of mine. bloomberg, there is a relationship there. when comcast bought nbc and universal, they also bought a whole bunch of other stuff. bravo,ught cnbc, telemundo. when they bought cnbc, they neighborhooded it. they were supposed to do that. that was part of that purchase. but you should have been neighborhood there. they did not do it because they do not own you. they wanted people to watch cnbc, their 24-hour financial news network. they want as many eyeballs on that as possible, so they put bloomberg in the nosebleed seats. that was violation of a condition. that is where you guys fit in and that first question. if they have both the number one and number three cable tv providers and they own 12% of all television programming, they can favor their own programming. that is a problem.

and when there is any bipartisan agreement on net trilogy, that is something. -- net neutrality that is something. we have seen what happens when the american people feel excluded from the fcc's deliberations. on several recent issues, many say that vision has spent too much time speaking at the american people and not enough time listening to them. we need to give the public a full and fair opportunity to participate in this process. and we must ensure that our decisions are built and based on a robust record. so what is the way forward? here is one suggestion. just as we commissioned a series of economic studies and passed media ownership proceedings, we should ask economists to study the impact of our proposed regulations and alternative approaches on the internet ecosystem. to ensure that we get a wide range of perspectives, that each commissioner pick two authors to ensure accuracy. each study should be peer-reviewed. and to ensure public oversight we should host a series of hearings where commissioners and questioned the authors of the studies and the authors of these studies c

do you know what world net daily is?ld net daily is the further than out there conspiracy theory website that for years now has been the home to the birther mooucht, which claims that president obama secretly was not really president, because secretly, he was foreign. and the president's real birth certificate would clearly show that he was secretly born in kenya! now, when the birther idea fell out of favor on the right for most people, world net daily became kind of a weird amalgam of continued conspiracy theories about president obama, but also it's now the place where you can get as many dvds about cane fighting as you can possibly want. at world net daily, you can also learn all about the blood moons. what do the blood moons mean? what do they tell us about president obama being secretly foreign or muslim or whatever? >> also, did you know that president obama is building a death star? last year, house speaker john boehner gave permission for a conservative pastor from texas to use statuary hall for an event. the ev

that is what our role should be in opposing net neutrality. i have worked on a number of those efforts. something that would be an indication. >> there is a concern about this broad interpretation having an effect and how they might start regulating companies like google or facebook. is there a particular example? is there a reason to think that the fcc might get involved? >> we have used that authority in a few different in says that instances. we have cited it as part of an argument that we made about security. we have also used it as are planning to use in other firms. we have used it and it has been talked about in a number of aces going or were. >> the idea of net neutrality and involvement in that, do you see some areas where there is a possibility that your internet provider may be the only provider? comcast might block cbs website? are there areas where this is a thing that the fcc should be involved in? >> i want to be careful because we have a pending merger before us. i do not want to talk about that. let me give you a general persp

net. what does that mean? >> when you take out all the other stuff. >> why not just say net? why say it twice? >> the phrase is actually triple net. that may come from real estate, you take out three separate things. i'll call nigh real estate buddies. >> that's tennis. >> tennis, not finance, but i think they have their similarities. >> sue, down to you. >>> diana olick is on line 1 for steve liesman. >> there is a triple net. >>> another day, another record, and what about putting money to work overseas. joining me is dan moreries, with $500 billion in assets under management. as you can see, kenny polcari is here as well. cnbc analyst. dan, i'm going to start with you. we have these equity markets that continue to march higher, but the big debate is where the rest of the world is in relationship to the united states. we have big gains in the shanghai index, but then poor data coming out of china. let's start with china and go global. how do you feel about it? >> i think we're looking fo

and targeting critical safety net programs. the gop's new manifesto, quote, our welfare system makes work unattractive for too many able-bodied americans. and it attacks welfare programs by saying, quote, they collectively became a poverty trap. and one of their big solutions to all this, quote, temporarily lower minimum wages for the long-term unemployed. that's right. they want to lower the minimum wage. that's how they're helping low income americans? this is disgraceful. it's a disgraceful document. and the timing is absurd. 50 years ago today when president johnson delivered his great society speech, he set in motion policies that have helped millions of people. >> when you join in the battle to give every citizen the full equality which god earn joined and the law requires, whatever his belief or race or the color of his skin. will you join in the battle to give every citizen an escape from the crushing weight of poverty? >> that speech laid the ground work for medicaid, medicare, food stamps, head start and much more. to

they started out as garbage, fishing nets discarded in the waters off chile. 600,000 tons of these netsd that's only a tenth of the debris. according to the ocean conservancy report, in just one day, worldwide volunteers big up more than 12 million pounds of rubbish from beaches and waterways. the top three culprits were cigarette butts, food wrappers and plastic bottles. >> we were struck with this issue of the plastic in the ocean and kind of made a mission to do something about it. >> reporter: that's the thing i think a lot of people are going to have a hard time making the leap from let's collect trash to let's make skateboards. >> yeah. >> reporter: bureo founders started in chile where fishing is a major industry. they figured out how to convert the fish nets into palace it pellets could can be used for molds. what's been the biggest challenge? >> to be perfectly honest, we had to complete a supply chain from scratch. >> reporter: the project has been funded by the northeastern university program and the chile lay i layian government and kick starter. they're starting small with

therefore, the decisions we make going forward in terms of structure and how we use a safety net will define what that number will end up being, whether it is very few or a larger number. i do not have the answer to that. >> no forecasts? >> no forecasts. sorry. >> another one from the back? >> i am with the executive intelligence review. future, the eu finance ministers agreed on bail-in on march 19 when they signed their compromising the law. immediately after that, the rating agencies downgraded the major european banks. if you days later, the major wall street banks failed the stress test. hoenig, you have been warning of a looming crisis, a systemic crisis that would be triggered by this bail-in. i would add that because you brought up the growing strategic conflict that this is, in fact, a driver of the growing strategic conflict and god for bid the outbreak of more general warfare around the globe. you to not sok much comment because you have expressed your support for glass-steagell. i want you to elaborate on why you think it is necessary on this coming bail-in. >> are you su

on net neutrality. i've argued, many advocates for net neutrality have argued that paid prioritization represents a fundamental departure from the internet as we know it. just restating what is obvious, but i think that when you have hundreds of thousands of people communicating from across the country to you on it that it is important to raise. as a policy, not as a legal question, do you think that paid prioritization should be blocked outright? >> so i have said, congresswoman, that i don't believe there ought to be haves and have nots. >> no, just answer my question. tell me. do you think it should be blocked outright? >> we have asked that question in the rule making. and what i have said is that i believe that under section 706, anything anti-competitive or anti-consumer is competitively unreasonable and therefore, can and should be blocked. that becomes the trigger for how you deal with paid prioritization. >> yeah. now what happens -- >> the question you per se asked, we asked how and when. >> w

and on page 12 of our report the report -- because the sfmta fast pass program results in estimated net cost to sfmta in fiscal year 13-14 of approximately $4.5 million and will continue to result in estimated net costs by the sfmta over the entire six-year agreement, we consider approval of the proposed resolution to be a passing matter for the board of supervisors. however, we do recommend that the amend the proposed resolution to provide for a six-year total not to exceed reimbursement a.m. or cap of [speaker not understood] payable by the sfmta to bart under the proposed fast pass agreement. as the department testified, there is a cap, an annual cap, but there is no total six-year cap and that's why we made this recommendation. >> thank you, mr. rose. colleagues, any questions for mr. rose or staff? okay, we'll move to public comment. thank you very much. anybody wishing to comment on item number 4? >>> yes. i'd like to comment on this because you know even with the -- i'm juicy edmond. and even with the reform of the ellis act that's going on, [speaker not understood], people in s-

that speaks directly to net neutrality.r viewers who may be -- net neutrality is at term not everybody understands, it has been the basis of an open internet where all content travels at the same speed. a perfect example is there was this thing called google media or google tv or google something -- i'm sorry. anyway, there was this format. youtube was starting at the time to compete with it. it was google video. over a pizza shop in san mateo, california, they developed youtube. because youtube could travel the same speed as google video, people liked youtube better. youtube became youtube. if there was a fast lane for big corporate entities, big content netflix or any corporate entity, which is what wheeler the chair of the fcc is talking about, then you would not have had that kind of innovation. >> senator al franken with cory johnson. what impact will this have on the companies creating the content? we will hear what disney cfo jay rasulo has to say on "the best of bloomberg west." ♪ >> welcome back to "the best of blo

rate -- net. it will produce the 130 $5 million that congress marks for state and local safety officials. million that congress marks for state and local safety officials. for deficit reduction, our upcoming auctions, including the incentive auction, hold the promise of raising more than $20 billion to help reduce our national debt. just yesterday, a bipartisan group of senate leaders, senators cordon, schumer, and brown called these funds a quote, critical return for the sale of a valuable taxpayer asset. counted on as meeting this target when it passed the spectrum act. so much so that it already spent these funds. if we don't need it, it -- meet it, the commission will be responsible for increasing the budget above current projections. i'm disappointed that the commission is not -- structuring the auction to maximize net revenues. the item does attempt to raise money for first net. what about deficit reduction? the deployment of next-generation 911, wireless public safety communications researc

and yes, they considered two types of safety netting. the solution that is about to be installed. >> this is the worst case of red tape in california history? >> there isjo john moylan, sayi he faced opposition from other member who's lived north. >> they don't understand it. a lot of people because it doesn't affect them. >> the board voted to install suicide prevention nets five and a half years ago. but the cost keeps rising the process drags on. documents from the metropolitan transportation commission put it at $80 million. >> the price did go up the market is heated you can see downtown, 26 up >> the board votes on the final funding package the bill should take three years so the nets should be complete by october, 2017. at least 932 people jumped off the bridge. >> should have been done a long time ago. >> thank you. >> the bridge district moving forward with plans to protect drivers on the bridge. they have picked weekend of january 10th to install a moveable median barrier. since 1971, there have been 16 crashes on the bridge. t

are we at the point where we might get your net/net public workers now starts increasing?k so. revenues at the state and local level have not only stabilized, they are up relative to where they have been even prerecession. the gains are not as fast in the most recent quarter as they have been. that has provided both state and local governments with some additional resources to fill in positions they had to cut during the downturn. >> pat, stay there. get a cup of coffee. we'll come back for a final thought from you fairly shortly. patrick o'keefe. thank you. >>> get in touch with us, wide worldexchange@cnbc.com. tweet us @rosswestgate. >>> let's take a look at some of the other stories today. the s.e.c. is reportedly probing whether hedge funds may have acted unproperly when they made bets on herbalife last year. reports say the s.e.c. is investigating which hedge fund managers attended a so-called ideas dinner last year and what was said about herbalife shortly before a group of funds took long positions. no one has been accused of any wrongdoing. >>> an fda advisory pane

but we still have a net increase of nearly 1,000 a year of retirees going into payment status. the next page tracks the funding levels over the last five years. you notice in 2008-09, we had market values assets just under $12 billion. and that was the end of the difficult financial markets in 2007-09. >> mr. chair, excuse me, as i benefit of the public, these slides should also be on the projector. >> asking you to go to the projector, please. >> right. >> again pointing on this column, the market value assets at the end of the financial, what they call the great recession, just under $12 billion. and then increasing to $17 billion which reflected a market value funding status of 84%. i am happy to report with the markets so far this year, through the end of april, we have exceeded $19 billion in assets. and on target to return over 14.5% return for the current fiscal year. again as long as the financial markets hold through june 30, it seems arbitrary but that is the time that we do a snapshot and measure the health of the plan. so over the four years since the great recessio