As a direct result of the lack of regulation, criminals ran things from behind the scenes with bribes and even worse tactics even later on in history. Things were much worse in the early part of the 20th century.
A fellow with the nick name of "Dutch Schultz" easily created a gambling and money laundering communications empire by thoroughly corrupting the industry from within.
His shtick was so slick that most did not even know to what extent it went on. You essentially had to pay "The Man" if you wanted to do any financial business over the wire period! Not just the fact that it controlled race track betting information and wagering.
His mafia partners made enough money to keep the FBI off their backs...J. Edgar Hoover did not even acknowledge that they existed and a substantial part of Washington not just Cities official and Police were on the take.
If there is no sensible public oversight of what goes on on the internet then you can bet it will become a haven for criminals and eventually they will run things from behind the scenes!
Slashdot Mirror
As a direct result of the lack of regulation, criminals ran things from behind the scenes with bribes and even worse tactics even later on in history. Things were much worse in the early part of the 20th century. A fellow with the nick name of "Dutch Schultz" easily created a gambling and money laundering communications empire by thoroughly corrupting the industry from within. His shtick was so slick that most did not even know to what extent it went on. You essentially had to pay "The Man" if you wanted to do any financial business over the wire period! Not just the fact that it controlled race track betting information and wagering. His mafia partners made enough money to keep the FBI off their backs...J. Edgar Hoover did not even acknowledge that they existed and a substantial part of Washington not just Cities official and Police were on the take. If there is no sensible public oversight of what goes on on the internet then you can bet it will become a haven for criminals and eventually they will run things from behind the scenes!