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Wednesday, August 02, 2006

Billions On The Line With Net Neutrality

While those providers have said they would not block access to the open internet, companies that sell products or services online want Congress to adopt stricter safeguards to ensure they are not pushed into a slower lane of the internet if they do not pay more for dedicated network service.

For the financial services sector, which is expected to spend $117 billion on information technology this year, tiered pricing could add billions more in expenses to maintain online banking services and other web offerings, according to a memo circulating among financial services lobbyists. Those costs could hit the bottom line or be passed on to customers.

But it's a fight the financial sector almost missed.

"Net neutrality is an issue that (financial services) firms ignore at their peril," Philip Corwin, a partner at Washington law firm Butera & Andrews, wrote in the memo.
-- 'Net Neutrality' Battle Widens

Once again, nobody wins but the telco giants if net neutrality isn't protected.

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