Politicians Who Regulate Big Cable Invest in Big Cable, Conflict?

Posted by K R on

Ever wonder why big cable companies can do whatever they want? It's partly because the FCC keeps its revolving door spinning. But it's also worth knowing that the politicians in charge of regulating the telecom industry not only receive campaign funds from them; some of them directly invest in companies like AT&T and Comcast. Put more bluntly: Some members of Congress profit from the same companies they're supposed to police. Four members of the House Energy Subcommittee on Communications and Technology—that's the committee that's specifically in charge of regulating the telecom industry, including the internet—hold investments in AT&T, Comcast, and Verizon. When these companies make big profits, these Congressmen share in them. Financial disclosures reveal that four members (including the chairman) of the House Committee on Energy and Commerce and one member of the Senate Committee on Commerce, Science, and Transportation hold personal investments in AT&T, Comcast, and/or Verizon. Some of these men also serve on subcommittees that are specifically in charge of legislating the internet and telecommunications industry. And some of these investments are significant. The following details come straight from the lawmakers' 2013 Personal Financial Disclosure statements. See Who They Are via Gizmodo.

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