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The Truth about the Economics Behind SOPA & PIPA
EFF, in The Truth about the Economics Behind the Blacklist Bills:
“Trotting out overblown numbers and misleading rhetoric isn’t a new tactic for Big Content. It has long advocated extremist legislative and regulatory measures to protect its industry against ‘piracy.’ “…
“As in the 1980s, the correct answer from Congress and the courts should be: no, you can’t have control of the domain name system. You may want a veto power over every new business that springs up there, but doing so would run contrary to our free market and stifle the innovation that makes the tech sector the engine of America’s economy.”
Fed Loans to Big Banks Undisclosed to Congress:
“Right now. we have a system where the government is incredibly entangled in the financial system by having to provide this support. And if you believe in a free market system, as most here in the United States do, you want that to be provided by the private sector, not by the government. And the way to do that is to have shareholders bear the risk. And right now, shareholders bear some of the risk but much of it is born by the government.”
“If you have this backstop reliance on the government to bail you out in the event that you take risks that turn out to go sour, this induces you to take risks that you wouldn’t otherwise, it’s one of these heads I win, tails you loose.”
http://bloom.bg/w5fmmj (Bloomberg)
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