Only in Washington could a delay to seek regulatory clarity before spending $18 billion in shareholder money be called extortion. Even after six years of slow growth, the Obama crowd hasn’t figured out that punitive regulation reduces the incentive to invest.Well, we'll just force them to invest! And if that doesn't work, we'll confiscate their money and let the public sector do a great job instead, with their proven track record of achieving miracles by avoiding the evil profit motive, which is how socialist countries get so rich and ensure that all their citizens have a decent standard of living.
What would we do without Washington
AT&T pointed out that it would need to pause on $18 billion of fiber it intended to lay next year, while the FCC figures out whether it wants to demonize Internet profits to make the President happy. This provoked cries of "extortion," which is what we call it when someone says he's not going to provide a valuable service unless he's got a pretty good idea he can do it at a profit.
By Texan99 on Friday, November 14, 2014