behind you which is precisely what we did with the three key fulcrum issues we talked about yesterday. we said the headwinds would be an all-time beating in the payroll report. once these heavyweight concerns were in the rearview mirror the objects turned out to be less big than we thought. a sigh of relief was breathed for the market. dow only declined 56 points. s&p dipped 1.4% but the nasdaq did 1.8%. it was resolved! not really it was just kicked down the road with a vile lack of leadership. it s holding the world hostage, frankly. still, yesterday we feared with greece an imminent default. today we just fear a less imminent default, one for a few weeks from now. i m putting in the category of better than a sharp stick in the eye. second opec voted to do nothing, no cuts no increases. even though u.s. production will increase this year despite the declining rate count, i thought they would put more oil out to try and stop us, but they didn t. we re just getting more oil o
commissioner michael o rielly, thank you for coming. with a general sense, how do you approach your job? how do you approach the different issues? do you have a philosophy? each issue should be handled differently. i have a general philosophy. we start with the basic premise of how i approach everything. economic fairness is my guiding principle. does the commission have authority to act on an issue? what authority has congress given us? is there harm to consumers? is there a solution that will isedy the harm that is done? the solution tailored to the particular problem that we are dressing. , do theh all of those benefits of regulation outweigh the cost? that is how i am approaching each issue. you take each issue as it comes forward. trackyou have an inside or a staffer in congress? i had the benefit of working on a number of provisions. the communications act is our guiding statute. i have worked on a number of those legislations. i have had my hands in. i know a numbe
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