Slashdot Mirror
Threat To Net Neutrality In Europe
Narcissus writes to tell us that the European Parliament is planning a vote in the Industry, Transport, Energy (ITRE) committee that could reintroduce amendment 138 (currently amendment 46) which deals with safeguards to user rights on the internet and graduated response schemes. There are several online campaigns trying to drive awareness and action already but there is limited time to act. "The Council may propose a compromise version of amendment 138/46 that is completely neutralized, or that may even become the opposite of the original by allowing the 'three strikes' scheme instead of preventing it. According to the latest negotiations, am.138/46 wouldn't anymore be an article (that must be transposed by Member States in their law) but a mere recital that has just indicative value. It is urgent to contact the members of the ITRE committee to advise them to reject compromise with the Council that failed to respect the intent of the original amendment. The best would be once again to approve the amendment."
>>>Yeah, because free markets did such a good job with the banking industry.
Not a free market. It's controlled by the *monopoly* called the Reserve Bank, which is itself controlled by the Congress, which mandated in the mid-1990s that banks must hand-out "no money down" loans. That eventually led to the housing crisis. That is not a free market. That's an oligarchy of 535 men.
A true free market would not have a Reserve Bank setting interest rates, but instead have interest rates that are set by each independent bank, and these rates would move up-and-down with supply-and-demand. Furthermore Congress would allow banks to decide for themselves who qualifies and who does not qualify for loans, based on income.
Yes that means some would hear the word "no". Oh well.
"I disapprove of what you say, but I will defend to the death your right to say it." - historian Evelyn Beatrice Hall