Wall Street Protests

[Clodfobble]

It is the government's job to ensure that the economic system we work under remains vibrant. To that end, they should and do have the power to do things like break up monopolies, prosecute cases of fraud or exploitation, shut down the stock market for periods of time when hysteria rather than rationality is ruling the trading floor, and otherwise perform checks on the system to keep it within a general middle ground.

[TheMercenary]

Originally Posted by Clodfobble

It is the government's job to ensure that the economic system we work under remains vibrant. To that end, they should and do have the power to do things like break up monopolies, prosecute cases of fraud or exploitation, shut down the stock market for periods of time when hysteria rather than rationality is ruling the trading floor, and otherwise perform checks on the system to keep it within a general middle ground.

Generally I would agree on principle. None of those powers are given to the Federal Government in the Constitution. But that does not extend to bailouts and spending of taxpayer dollars on failed programs.

...as I am with whether there is the genuine opportunity for upward mobility in our society...

And how does the first paragraph assign responsibility to ensure this opportunity. The Federal government does not have the power to do this.

[tw]

Originally Posted by TheMercenary

And how does the first paragraph assign responsibility to ensure this opportunity.

The 1996 Federal Communication Act gave all an opportunity to become profitable internet providers. Large numbers of companies were founded because 1) the incumbent providers refused to provide broadband internet access, and 2) the American people were being denied technology that should have been available 15 years earlier.

Because of that Federal law, DSL (a 1981 technology) finally was implemented after 1996. Internet on cable and fiber optics quickly followed.

Then Michael Powell, et al took over the FCC. Subverted the 1996 Federal Communication Act to destroy all but the two 'chosen' providers in any region. As a result, innovative companies (ie Covad, Dieca Communications, NorthPoint Communications, Rhythms NetConnections, PSInet) were bankrupted. America has dropped from an internet world leader to somewhere below 20. Jobs, increased productivity, free market competition, and commercial opportunities all lost when a political agenda was intentionally implemented to protect the 'chosen' two.

Comcast then intentionally tried to subvert network neutrality by attacking Skype, Google, BitTorrent, and others. All because free market competition was subverted by a political agenda during the Michael Powell reign.

1996 Federal law made opportunity possible by destroying protected monopolies that refused to innovate. Refused for 15 years to install current technologies. Threatening companies such as Bell Atlantic and Time Warner by forcing them to innovate; due to laws that made possible and encouraged free market competition. Laws that stopped them from subverting packet switching to protect their obsolete technology circuit switched hardware.

Today, the 'chosen' companies no longer need to innovate. Laws restored so that free market competition can no longer survive. The duopoly is again doing only what is in their own interest - at the expense of customers and the nation. Protected by laws to enrich them at the expense of innovators and consumers.