as the chairman said the f.c.c. sight authority in the past and stands ready to do so in the future. in the wake of an era where the f.c.c. was criticized by it congress for failing to follow good administrative practices, maintaining the integrity of regulatory process would appear to be particularly important. any other solution turning merger review into backdoor regulation that hurts consumers, skews, competitive land scape and undermines democratic values and integrity of agency process. thank you. >> professorçççbyoo, thank y much for your testimony. i indicated to senator rockefeller that i would come back and share the second panel and i would just make a very brief statement and then ask some questions. i have a history on this committee with senator lott, the dorgan-lott provision, i think we were the first to exercise what was a legislative veto on the media ownership rules of the f.c.c. some years ago. i have long been concerned abouç concentrati concentration, particularly in media ownership. i don't

one commitment we clarified that we are prepared to talk to the f.c.c. and make binding is if the court case were to overturn some of the access conditions. they tended to be focused on exclusivity and some of the issues like sunday ticket or nascar. >> let me end there. my time is up. mr. wells, i have questions and i will submit them to you for the record. but again on condition because the chairman asked an interesting question and that let's assume -- here is the question. would you allow and work to make sure the conditions are in whatever agreement without the argument that, well, congress will do it later? in other words forget about what we are going to do because if you wait you will never do this transaction. >> the conditions that we have suck and we are prepared to further talk about and try to clarify would not premise themselves on congress. >> thank you, mr. chairman. >> thank you, mr. chairman. professor yoo, my memory of antitrust analysis is that one of the first things you talk about is the market. what is the market, relevant market he

one of the characters actually goes to the f.c.c. and tries to explain to the f.c.c. that it was a fraudulent, rigged system. in that sense, they were useful citizens of the republic. but it is true, it is a very ferius tale. >> lehrer: syth -- i think what still debates here, what falls through their discovery, and you just said, greed, corruption, vinality, and everybody is sort of gaining in the system. what people are still debating about, is it mass delusion or acting with intent? >> this is a great question. it is a question that they, themselves, never completely resolved. it is part because it is hard to know what lies inside the hearts of others. but in part because they found a great deal of evidence that the other sides of their trades were just diluted. they didn't understand what was going on. in fact, this was less a story of kind of a systematic criminality than it was a systematic misperception. you had these facts in the financial world and you could arrange them into different kinds of pictures. and the financial system arranged the facts into a pret

host: the chairman of the f.c.c. had a piece in "the washington post" over the weekend, and writes our nation is at a high-tech cross roads. either we commit to creating world leading broadband network to make sure the next way of innovation and business growth occur here or we watch inventions and jobs migrate to those parts of the world with better, faster, and cheaper communications and infrastructure. let's go to our next cammer. jackie on the independent line. caller: good morning, spann spann. y'all do a great job. i agree with the call from california. that's the price you pay for living in paradise. my internet connection is analog dial-up. i would love to be able to get rid of my land line. the carrier stops five miles to eight miles down the road and won't come out any further. so my question to you guys, are we paying a fee for people to get cell phones. i think y'all mentioned about the fee for, you know, the fee to get broadband out here. y'all have no idea what it's like. the postal service fixing to go

also on the rundown, a conversation about the new f.c.c. plan to modernize the nation's broadband and wireless networks. finally, in our continuing series "the next chapter of reading," jeffrey brown talks to science writer james gleick, a member of the authors guild about author's rights in the age of google books. all that and more is on our web site, newshour.pbs.org. >> woodruff: and again, to our honor roll of american service personnel killed in the iraq and afghanistan conflicts. we add them as their deaths are made official and photographs become available. here, in silence, are nine more. >> woodruff: and that's the newshour for tonight. i'm judy woodruff. >> ifill: and i'm gwen ifill. we'll see you online, and again here tomorrow evening. thank you, and good night. major funding for the pbs newshour is provided by: and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. and with the ongoing support of these institutions and foundations. and

it would give the f.c.c. y to police those markets, and iti.÷ would bring broad transparency to trading in those important markets. we think those reforms would be -- are necessary to and are central to to reduce the substantial risk that comes in the growth of those markets. i think we would be doing a more -- doing a lot to create a more stable system. >> i understand that argument. but there is still, you still have the moral hazard problem because of the presumption of the government-bab backed -- because of the government-backed guaranteee. when you and the treasury come forward and say we've got to make sure they don't over-leverage. they were over-leveraged at 101. they were involved in arbitrage big time, and all the fed was asking was the ability to delargee this portfolio arguing that if we slowly did that, we would avoid the bust in the market, we would avoid the systemic risk that would otherwise hit us. that risk did hit us. the fed turned out to be right about this. how do we overcome the fact th

the day also on c-span 3, the chairman of the federal communications commission will testify about the f.c.cban. live coverage begins at 2:30 eastern. vice president biden share as task force aimed at addressing solutions to challenges facing middle-class families. later he talked about the work, new proposal for safeguarding retired workers' savings. this is about 20 minutes. >> good morning. it's an honor to be here today with vice president biden who's taken the lead to make sure the american people receive the full benefit of the recovery act and secretary geithner who has worked with others to ensure that the american economy is strong and resilient. as you know it's tax filing season for if american people. and about 75% of the american people get refunds. so that means taxpayers are getting a lot of money from the i.r.s. these days this year they're getting a record amount. we're announcing today that the average tax refund is up 10% so far this year. as of last week, the average refund $3,036, which is $266 more than this last year. for many taxpayers this will the biggest check that

it would give the f.c.c. ority to police those markets, and iti.÷ would bring broad transparency to trading in those important markets. we think those reforms would be -- are necessary to and are central to to reduce the substantial risk that comes in the growth of those markets. i think we would be doing a more -- doing a lot to create a more stable system. >> i understand that argument. but there is still, you still have the moral hazard problem because of the presumption of the government-bab backed -- because of the government-backed guaranteee. when you and the treasury come forward and say we've got to make sure they don't over-leverage. they were over-leveraged at 101. they were involved in arbitrage big time, and all the fed was asking was the ability to delargee this portfolio arguing that if we slowly did that, we would avoid the bust in the market, we would avoid the systemic risk that would otherwise hit us. that risk did hit us. the fed turned out to be right about this. how do we overcome the fac