yet this is exactly what the f.c.c. is going to try to do. unication companies are among the few companies still investing billions of dollars into our economy in the very difficult financial times. it will kiss courage investment precisely when we need it the most and when we need to push the broadband in this country. the announcement is a perfect example how regulation meant to help can actually hurt our policy goals while take more money out of the american taxpayers' pockets. i'm reminded again, madam speaker, of another will rogers quote when he said, be thankful we are not getting all the government we are paying for, end quote. our history of communication policies with examples of the best regulatory intentions going awry. more off than not, advances come despite regulation or as with our internet policy over the past couple decades, from our decisions not to regulate. with that i yield back. the speaker pro tempore: the gentleman yields back. . toipjat mr. connolly: the current economic crisis may have begun in the united states but

may 6 also confirms the wisdom of the f.c.c.'s on-dst going efforts to bring the markets together to develop the circuit-breaking pilot. today i would like to discuss three things. first the high-level audit. third our recommendations going forward. it is unable that everyone is looking for a smoking gun behind the may 6. however the circumstances are more complicated than that. from our standpoint we see no evidence ofat-finger eor due to automated trading or otherwise. however we do see the following. he will vailted market activity including a huge and broadly based order of quotes around 2:00 p.m. various microstructure issues which exacerbated the liquidity effect. one of the things we do know is that news and fear get transmitted tot market faster than ever before thanks to media advances. we need to ensure the integrity the market. i would like to turn to the nyse market level. what i see is embraced electronic trading. we believe our market model provides mechanisms to avoid large price swings. we have always believed is

guest: well, the f.c.c. was widely promoted as a place to change a lot of these policies and there's been an ongoing debate about net neutrality and internet protocols in this town, but i don't think in the short run we've seen any great gifts from the f.c.c., and that's a much -- that's just a long-term process. the issues are whether you're going to have rules of the road to help content be spread out and get to people in a fair or equal manner and who's going to pick up the cost. so the idea that the internet should be this wide-open place where everyone can basically travel at the same speed, if you will, and down load things at a similar speed and have access is broadly appealing. the real policy question is who's going to pay for that? we talked about more video. the more and more video you get, eventually the road gets clogged, it's more expensive, and a lot of the companies that do this say, well, hey, this is like anything else, you got to pay for that. neutrality might put a bigger burden on them.

[captioning performed by national captioning institute] >> monday a discussion with the f.c.c. ssioner michael copps. there are nearly 6,000 references to abraham lon in our video library. if you are one of the millions of americans that enjoys our 16th president, you will find a lot of information online. there is c-span's book "abraham lon" in paperbook. >> the british election is may 6. in a moment we will look at the three major political parties three major candidates. the parties and broadcasters agree on an allocation that's free.

are open networks and the remains steadfastly committed to doing that -- we remain steadfastly committed to doing that. >> how is it different been administrator of r.u.s. than a f.c.c.?oner at the >> this job is a lot harder. rather than being independent, i was a member of a board, deciding policy, but now i run this agency. we do over $13 billion in loans and grants, for all kinds of infrastructure. it is a big job with a lot of responsibility, both managerial and operational. the policy questions are large, but the management questions loom even larger in terms of my time. we need to have the right resources. i make operational decisions about how to process things, who is going to do what and how to get it done. it is very different from managing a large organization. it is different to be part of the executive branch. i have excellent secretary of agriculture that i work for in thomas vilsack. he is really engaged and involved and the committed to getting broadband out to the rural parts of the country. it is an exciting opportunity to work as part of a team. i enjoy the independence of the fcc, but i like this, too. we have excellent leadership. we were regul

the f.c.c. concurred that credit scores are not serving as a proxy for race. >> i have read that study. it didn't exactly say that. i understand you want to get that in the record. you may want to tut that study in the record. we had it in the record last year when we had a hearing about this. that's not exactly what it says. it says the same kind of correlation that you are talking about is legitimate here for credit-based scoring between this and race. and you want to use it on one decide and say we like the correlation on one side and we're going to use it, and on the other side we don't like the correlation, so we want to say no, no, no, no, we shouldn't be using correlations here. isn't there a strong core laying between these factors and race? that requires either a yes or no answer. is there a strong correlation or not. >> if found -- it was found that it was not a proxy for race. >> i heard that. that's not the question i asked. i want to know, is there a strong correlation, not whether t

s.e.c., in its approach to regulation under sarbanes oxley and the federal communication commission, the f.c.c., and its raoul making governing telecommunication telecommunications practices are often cited for failing to recognize their impact on small businesses. this is why it is vital to small business requirements apply to the new independent agency that is created and the underlying legislation -- in the underlying legislation. still others will argue that our amendment is unnecessary because my earlier amendment provides an exemption for small businesses from the regulatory requirements of the bureau. however, we must go further to ensure that rules that the bureau promulgates does not unintentionally impact small firms' job-creation capacity. that's why our amendment would also specify during the rule-making process, the bureau must consider the economic effects that its rule would have on the cost of credit for small businesses. now, according to a recent ffib survey -- that's the foremost organization that speaks for small businesses -- 42% of small business owners use a personal cre