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Feds

This is the 10th of a series of posts about the year's major business stories:

SEC

The Republican-led Securities and Exchange Commission adopted in 2007 a number of very important rules.

Chief among the new rules is one that essentially gives corporations carte blanche authority over proxy materials for corporate elections. That rule was supported by conservative business interests and vehemently opposed by liberal special interests. It passed along party lines.

DOJ

Brass-knuckled law and order hawk Michael Mukasey was confirmed in 2007 along party lines to be Attorney General of the United States.

That's good news for the Justice Department and for honest businesses. It's bad news for crooked businesses. It's also bad news for terrorists, assorted other miscreants and the liberal media. Mukasey is the anti-Reno.

DOJ successfully completed its prosecution of sleazebag plaintiffs' class action attorney Bill Lerach. Lerach has cost the economy untold numbers of jobs over three decades by filing shakedown lawsuits against corporate America. Now he'll do a year in jail, he'll pay a big fine along with suffering a major forfeiture. Next year his former partner in crime, Mel Weiss, also will be heading up the river. With any luck more plaintiffs' lawyers will follow.

Meanwhile former AG Alberto Gonzales, having resigned from DOJ under media/Democrat pressure, is receiving $40,000 a pop to get booed and heckled on his national speaking tour by spoiled-brat liberal college students. All of us should be so lucky, eh?

FCC

It was a mixed year for the Republican-led FCC.

On the one hand, the Commission handed down several pro-business decisions regarding media mergers and acquisitions, e.g., Tribune, Dow Jones + News Corp. On the other hand, FCC Chairman Kevin Martin engaged in a bizarre and baffling crusade against the cable industry. Mr. Martin has turned out arguably to be the worst Bush nominee since the dog daze of Norm Mineta.


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Comments (4)

Why are you sticking up for... (Below threshold)
stan25 Author Profile Page:

Why are you sticking up for the cable tv companies? They are the ones that are stifling the competition and driving up the prices by their use of exclusive contracts with cities and apartment complexes.

They also are not very good in responding to service calls in a timely manner, sometimes taking several weeks to do anything about the problem. It has been my experience that the Cable companies can do whatever they want.

It is no wonder that more and more people are turning to Directv or Dish Network to view television. Until the cable companies start acceding to the wishes of their customers, they are doomed. People are getting sick and tired of the high handed way that these entities are treating them and also the exorbitant prices that they have to pay for the limited channel line up that most cable providers carry.

The SEC is an overrated con... (Below threshold)

The SEC is an overrated conference and the Buckeyes will prove that when the whup them damn Tiggers.

and driving up the price... (Below threshold)

and driving up the prices by their use of exclusive contracts with cities and apartment complexes

If the cities didn't want that agreement they wouldn't take it, the cities get paid by the cable company per subscriber (and other perks), the cities don't make a cent off the dish services. If you are not happy, stop putting those people in office.

The city politicians get th... (Below threshold)
stan25 Author Profile Page:

The city politicians get the kickbacks from the Cable companies. That is why Comcrap and TimeWarner get these sweetheart deals. If everyone refused to subscribe to cable and got a dish, the cable companies would be forced to deal with the problem.

That was why the cable companies forced Congress to authorize the scrambling of channels in the first place back in the 1980s. People were buying the large dishes and getting HBO and other channels for free. The cable companies were losing money and they saw that as a way to get control back.

Even right now, Comcrap and TimeWarner are lobbying Congress to make Directv and Dish close their doors. Well that dog ain't gonna hunt, because Directv and Dish have enough clout now to make sure that does not happen. Rupert Murdoch has much more clout than any small fry executive from Comcrap and Time Warner with the Congress.




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