Airlines, what have you. Theres two things that happen. Once a commission interests itself in a particular area, puts a sign out that says open for business, which is basically what we did when we did the open Internet Order, right . What happens . Firms realize, oh, i dont get to make money looking at customers and making investments, i make money by going to the regulators and getting them to favor me and disfavor others. The phrase economists use for this is rent seeking. And thats what it does, it opens up rent seeking. For 30 years we never had any complaints about interconnection. Since 2010 weve had a number of complaints. Why . Open for business. The second thing that happens, and this is, i think, the most dangerous part of it, is even though the commissioners may say, well, we want to limit how much we regulate, okay . That wont happen. They will be under constant pressure to expand the regulatory writ. And weve seen this happen now. Level iii, for example, in 2010 said lets
Providers they might want to offer storage type of philosophies to compete with amazon or other storage capacity. They also have incentives it easier to charge the differentiating out among the various people that want to use the capacity to make more money that way than to fill that capacity at possibly be charging them less because now you dont have to demand constrained. Some people are going to pay more for more like room on the airplane. They can charge some people a little bit more because some people value a little bit more comfort so whereas the average person would say i cant pay another 50 for this im just going to have to muddle along. Host you used to terms. Guest title 02 is the common carrier status. Guest host it became the proposal guest to classify them as Telecommunication Services. The providers are allowed to be regulated as common carriers under federal law. Guest kind of buried in the document is one sentence that says alternatively to classify them as telecommuni
There still some lingering distrust left over from the housing crisis that hasnt been fully dealt with yet so i think that is what everybody is concerned about along with the somewhat anemic Economic Growth that people are concerned that this housing recovery is not for real or its not as good as it appears to be. So we look at home prices had a very big jump in many areas in and home prices in 2013 but we are starting to see those numbers come down in many markets across the country. Foreclosures which we track are down to nearly prerecession levels. Actually we came out with the april numbers yesterday. There were 115,000 properties with foreclosure filings in the month of april. Thats down from a peak of over 367,000 in march of 2010 and we are almost back before the recession we were seeing about 85,000 foreclosure filings a month so we are getting closer to that level. That negative piece is largely gone from the market. Housing prices are going up but there is what i call a hole
Always is a dumb idea. Youre watching Market Makers on Bloomberg Television. Thursday in new york city, i am Erik Schatzker. I am stephanie ruhle. How do you feel . I feel great. Im not sure how i feel. These are the top business stories from around the world. Barclays will cut 7000 jobs in its investment bank, about one fourth of the total market. Trying tonkins is reduce his dependence on fixed income, which has been its biggest source of revenue. A big jump in homes being sold for cash according to the tracks 43 according realty tracks, were all cash in the first quarter. Mortgage lending has plummeted because rates have been rising and lending requirements have become stiffer. Macdonalds best month, samestore sales were up 1. 2 . Mcdonalds has been struggling to attract consumers because of growing competition like talk about like taco bell. There is a Consumer Confidence problem. Show deal ora game no deal, top executives from comcast and Time Warner Cable are back on capitol hill
Daunting, but i dont think that they are insurmountable, nor is washington this function an excuse excuse for inaction. From a believe our state and cities, to pollen areas and a pilot to the private public civic institutions that lead them to have the talent and as we have seen dramatic creativity to move this country for in this area and in others. We absolutely believe now is the time deduces of the weakest are building for the next 100 years. Thank you for coming. Appreciated. [applause] [inaudible conversations] [inaudible conversations] on cs q a. Is a Dina Elboghdady the Washington Post who covers the housing industry. What is going on on capitol hill when it comes to the housing industry not just capital but washington as well . Guest there has been a lot going on the past couple of weeks. Basically there has been a big bill moving through the senate, it got through the Senate Banking committee overhaul fannie mae and freddie mac. Yesterday the Senate Banking committee had a vo