ICANN Deep in Debt

Milkman Ken writes "It seems that after several months of operating, ICANN is now a million bucks in the hole. Bummer. " Apparently the transition from the NSI monopoly over .com, .edu, and .net domain registrations to a competitive registration environment has been handled so poorly that the whole system may collapse, at least temporarily, without government intervention. And I thought the purpose of ICANN was to get the government out of the domain name registration business. Oy!