Lee Terry: “the reviews are in on the February 20 FCC decision on the rules governing the Nation's telecommunications companies, and…”

“the reviews are in on the February 20 FCC decision on the rules governing the Nation's telecommunications companies, and they are not good. Specifically, the reviews state that the requirements to make the RBOCs networks and systems available on an unbundled and subsidized basis are unsound. For many Members of this Chamber, economists, and industry observers, the FCC's proceeding was an opportunity to provide clear rules and regulatory rationality to an industry sector that has tumbled in recent years with job losses and reduced capital investments, which has affected a manufacturer in my district. Unfortunately, from these reviews on this decision, the FCC has failed miserably in their attempt to revitalize this necessary industry. Has this industry not suffered enough? Two trillion dollars of market cap, half a million telecommunications jobs lost, and $800 billion in debt have gone away. Hardware equipment and software manufacturers are stumbling. The FCC has taken a mess and made it harder to clean up. Somebody has to fix this: Congress, the courts, maybe even a miracle itself from the FCC.”