Voted to repeal obama era Net Neutrality regulations correspondent david miller was at the vote today and has more for us. In a three two vote down party lines this morning the f. C. C. Voted in favor of the first importance of zero Net Neutrality regulations we can as you can see behind me there merican people have gathered to protest said decision the agencys republican majority approved a plan to scrap the rules preventing internet providers like comcast eighteen c. From blocking or slowing web traffic the f. C. C. Today voted three two along party lines to repeal the obama era Net Neutrality regulations handing a victory to total calm providers over the objections of Tech Companies including Netflix Reddit and etsy todays vote was delayed for a brief time by an apparent bomb threat but that did not stop the f. C. C. From moving forward to what some call the death of the internet as you can see behind me many flowers have been laid in from the f. C. C. Is building as if a memorial for the internet dozens of democrats in the at least one republican ours f. C. C. To cancel todays vote but the chairman did bow to move forward with the plan ironically the same democratic commissioners fighting for freedom of speech for the internet refused interview with myself because im with r. T. America while doing interviews for every other network out here also news today as many as two million Net Neutrality comments many of which were negative were filed to the f. C. C. Were fake according to the new York AttorneyGenerals Office several attorneys general and democrats urged an investigation into the comments ahead of todays vote protests wrapped up earlier today we heard a number of concerns including concerns over the right to free speech corporations gaining getting richer and also many Health ConcernsEnvironmental Concerns also but the main concern is that this fight is not going to stop that they continue to pursue actions against the f. C. C. Not to take away these protections reporting from washington d. C. David miller. R. T. America. Following the f. C. C. Is vote a total of sixteen states have filed suit against the decision to talk more about states rights in the general ramifications of this were joined now by Steve Weisman attorney and professor at Bentley University even to start off can you remind viewers exactly what Net Neutrality rules are at this point were and why they were created in the first place. Unfortunately are were and what they did was create a level Playing Field in the end in it so that Internet Service providers could not give preference to particular content providers in other words they really couldnt censor it was the ultimate democracy entrepreneurs were good innovation could happen it was free speech and now whats happening is the Internet Service providers are allowed to choose what content they want to give fast speeds for downloading and which they want to slow down and where they want to raise fees so suddenly they become the gatekeepers as to what people can see its really a tremendously poor decision on so many grounds well congress enacted its powers under the Congressional Review Act it could revoke the f. C. C. Decision do you think member members of congress will do that. We know its very interesting because under the federal law the f. C. C. Was not supposed to act until it had a period of Public Comment and as as you just mentioned the new York Attorney general show that many of these Public Comments that were received against Net Neutrality were in fact fake and wanted to put off the vote until they could find out where really the public stood and thats whats going to happen now is the public going to be heard its been said that seventy six percent are in favor of Net Neutrality are they going to be able to reach their congressman who do have the ability to override the regulation and they could do it they also could take this out of being every new administration being able to have the authority to determine whether or not to have Net Neutrality and make it a statutory law its a it will be a good question to see does democracy still work will the people be heard and will congress and act its proper regulations in the past youve said that you think it be better for congress to set the rules about Net Neutrality instead of the f. C. C. To how a congress or the better job. You know if the thing is when congress leaves it up to the particular Regulatory Agency decide what happens is the the new president in every administration chooses the majority of the commissioners and so what you have is under the Obama AdministrationNet Neutrality when it was also supported by the courts now you have the trumpet ministration which is against Net Neutrality and in favor of the large Internet Service providers so they have the votes to overturn that lets say you have a another election and then you have a new administration they could put in their majority Net Neutrality in the internet and free speech are too important to be shifting back. According to political fortunes congress should make this as a statute as a law something that would not be subject to the whims of particular administrations but we know that the tech world is really split on Net Neutrality on one hand you have Cable Companies like parise and eighteen t. And support of their appeal but on the other hand you have tech giants like google and microsoft in favor of keeping the old rules so how is it that such a major corporations within the same industry or at least very Similar Companies feel so differently on this clearly a very divisive topic. Well its whos going to be charging and whos going to be charged so you do have a large Internet Service provider and these are the telecoms that they are the ones who are going to be making profits theyre going to be setting their fees and its not like theres theres competition there really isnt much in the way of broadband competition and thats one of the reasons we have such an efficient market on the other hand you have giants like google you have giants like amazon and you have giants like netflix and they are going to have to pay whatever these Internet Service providers tell them and we know this because we saw it happen already in late two thousand and thirteen and early two thousand and fourteen before the Net Neutrality rules went into play the telecoms the Internet Service providers comcast in particular slowed down netflix downloads making it very very difficult for netflix viewers and this was while netflix was negotiating for fees with comcast one inch sniffling agreed to pay the what some would might even say extortion the higher fees suddenly theyre there download speeds when up this is what were looking at in the future small innovators theyre not going to be able to afford it the small voices of free speech theyre not going to be able to do it the Bigger Companies the netflix they can. Theyre going to have to pay more and in turn the consumer will end up paying more was he just said a big problem here a big point of contention is innovation and antionette the advocates opt in say that this is about not stifling innovation but couldnt you say that this would actually hurt new businesses if they dont have the same access to the internet that they do now. Absolutely you know you can look at Companies Like you tube which they may be big now but they started out in a garage they would not have been able to reach the size and the quality that they did without Net Neutrality small innovators who dont have a big profit margin they need Net Neutrality theyre going to be slowed down and it isnt even a matter of just our patients we dont like slow downloading websites not only that but when you go to a a web search when you go to google to search for something if a site is slow it is lower in the search and so new Innovative Companies are going to be at a dramatic disadvantage in competition its going to slow innovation its going to slow entrepreneurs its going to slow growth final question one survey from nielsen scarboro found that only one in five Republican Voters support their appeal so why do you think so Many Republican leaders in congress voted against it and more in favor of repealing it. Unfortunately i think it comes down to money i think it comes down to Campaign Contributions its it really all goes back to Citizens United and they owe they owe their seats to the large money contributors. Steven weisman attorney and professor at Bentley University thanks so much for your time today. My pleasure time now for a quick break but stick around because when we were turn well hear a former fed insiders take on janet yellen final prosser and what we can expect from the fed in the next year and well find out how British Parliament is up ending friesen is planned for pairing the regions fourth formal actually on the e. U. As we go to break here the numbers at the closing bell. When the. Color of the city the. Blue nude within them we took a. Little bit look. At this whole row these are the. Blue and you know all the men to me. With this for a moment a look from the u. S. As a local look at them they want us and theyve been into this you know. Locals. So. I thought that the ample. Tromp benefit. Very much from the existing plurality rule system because he was so different from the other german if you took any one of those mainstream candidates and you put him in the head to head come. With trump. That other candidate might well have won. This. Credit is one of the basic instruments to drive an economy but it can also lead to tragedy i did it i took a line the whole gist i can be got and that that the debt steichen big and it was spiraling out of control. Many lives have been broken really excessive that the banks got you into trouble and all the big bankers got big. On the government by the banks but just didnt think of the ordinary men and the last morning through the back under dont buy creditors people see no future bad face can happen you know you become ill you do job your relationship breaks down you become a casualty is debt a life long credit or is there a way out of those actually come to a bit of an old marco to ditch bill for morphed split what. I. Saw you know thats got drugs. On wednesday the Federal Reserve decided to raise Interest Rates for the third time this year policymakers pointed to a few reasons behind their. Cision like lower unemployment higher Household Spending and bigger investments by businesses to get her insight on that were joined now by daniele de martino booth president of money strong l. L. C. And author of fed up and insiders take on why the Federal Reserve is bad for America Danielle this decision was widely expected to happen but there still were two fed president s that voted against raising rates was the right decision made on wednesday. Well i think that the fed is still playing a very aggressive game of catch up if i had my druthers we would be a two percent right now and call it a day were certainly not there and evans and cash cari are notoriously dovish cash cars dissented every time the fed has raised Interest Rates. According to him they should still be down at point six two five percent somewhere in that area which is just ridiculous its the same thing as being zero bound and its what has foment so much financial instability but beyond that we dont really have to worry about them because they rotate off after yesterday when we know that Jerome Powell is probably going to continue on the same path of his predecessor but new york fed president bill dudley is leaving next year and President Trump still hasnt nominated a vice chair for the feds board so do you think that could maybe throw a wrench into what everyone is expecting for the fed in the next year look this is a full blown regime change it is anybodys guess i was i was intrigued yesterday the president of the United States managed to have a press conference in the middle of Janet Yellen Press Conference i found that to be extraordinary but you know what we really didnt need to Pay Attention to her last press conference because anything can change Going Forward because the cast of characters is almost completely different than what it used to be well during the press conference yawn finally answered some questions on crypto currency calling bitcoin an unstable source of value that doesnt constitute legal tender but she then added that the fed had been doing research on creating their own Digital Currencies even though she emphasized there is no plan to do so at least not right now so im curious what are your thoughts on that. Well so youre talking about fed coin and im kind of aligned with jay powell and randy quarrels whos new to the Federal Reserve board and their take on a Federal Reserve electronic currency that the time is premature but because countries like china and japan and russia and venezuela we know that they taken steps to implement their own which means the United States is going to have to have its own electronic currency as well as a matter of National Security that being said i would certainly side with again corals and powell and their view is that if we do have a fed currency of some kind the transactions themselves would have to be a monogamous as opposed to using fed corn as a means by which to monitor the purchases of the purchases of u. S. Households well as you just alluded to Central Banks around the world have a lot of differing opinions on for example india has totally banned it over concerns about Money Laundering and other financial crimes but in the u. K. Bank of England Governor Mark carney said cryptocurrency could be part of a potential revolution in finance so what do you think the biggest concerns about bitcoin are at the fed well i think the fed should rightly be concerned about anything thats basically gained fifteen hundred percent in short order and surpasses the size of the two look mania sixteen thirty any time any time anything goes parabolic i think that is a central banker you have to have that on your radar screen because its simply a reflection of a speculative mania. That being said the Block Chain Technology itself i think will indeed revolutionize finance in the years to come the backbone of block chain if you will which is eventually going to be Quantum Technology really has not been mastered and rolled out yet but i think that scientists and bankers alike have their eyes set on crypto currencies as being a massive part of the future of finance and of transactions as we know it i want to ask you about tax reform now for a second do you think wednesdays decision could have any sort of roll in or impact on the tax cuts and jobs act that the g. O. P. Is trying to pass. Well look im not so sure that i would give politicians that much credit that theyre paying so close attention to to to Interest Rates not to be disparaging at all but i will say the if the fed continues on their expected have in twenty eighteen and that would be three or more Interest Rate hikes by what we saw from the dot plot that at some Point Congress is certainly going to start waking up because the borrowing costs of the country are going to go through the roof and the c. B. S. Projections might not come to pass in terms of what this tax plan is going to cost us right while aside from the cryptocurrency craze or taxes what other domestic issues and concerns do you think that the fed will have to really focus on moving forward into the next few years. Well theres a lot of tension rig