Deregulation's big lie
FCC chairman Michael Powell says the WorldCom debacle may result in more telecom mergers. So who ends up losing? We all do, explains one industry expert.

It shows what a big lie deregulation was based on.

The big lie of deregulation was that by letting these companies do whatever they wanted with much less oversight, competition would force them to better serve the public with lower prices and better service through the force of market competition.

But what "deregulation" really means isn't [a kind of] deregulation where there is no regulation [at all]. It just means regulation on behalf of powerful interests with no one representing the public. So these companies totally fleeced the public and left everyone -- their shareholders, workers and taxpayers -- holding the bag.
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thanks to Robot Wisdom