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daily Wednesday, June 21, 2006

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fiber connector$200 Billion Broadband Scandal

open quote ... the largest fraud case in American history

Do you have a 45 Mbps, bi-directional service to your home, paying around $40? Do you have 500+ channels and can choose any competitive service? You paid an estimated $2000 for this product even though you did not receive it and it may never be available. Do you want your money back and the companies held accountable?

Background: Starting in the early 1990's, the Clinton-Gore Administration had aggressive plans to create the "National Infrastructure Initiative" to rewire ALL of America with fiber optic wiring, replacing the 100 year old copper wire. The Bell companies - SBC, Verizon, BellSouth and Qwest, claimed that they would step up to the plate and rewire homes, schools, libraries, government agencies, businesses and hospitals, etc. if they received financial incentives.

The Commitment:

[...]

The Harms and Outcome

* Costs to Customers - We estimate that $206 billion dollars in excess profits and tax deductions were collected — over $2000 per household. (This is the low estimate.)

* Cost to the Country - About $5 trillion dollars to the economy. America lost a decade of technological innovation and economic growth, about $500 billion annually.

* Cost to the Country - America is now 16th in the world in broadband. While Korea and Japan have 40-100 Mbps at cheap prices, America is still at kilobyte speeds.

[...]

The Truth: This is a Fraud Case more close quote


Hmmm, not as big, expensive and serious a fraud as the Iraq war. And if they already got $206 Billion, why would they need $40 a month? Still, though.

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root.cellarUpdated: 9/15/2006; 9:42:04 AM.


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