Powell: Broadband ‘Critical’ to Telecom Recovery

FCC Chairman Michael Powell told lawmakers the telecommunications industry “is not collapsing and is not going to fail over time”. But its recovery will involve painful choices and that success will depend on cooperation between Congress, federal and local regulators, businesses and financial markets.
During a Senate Commerce Committee hearing on instability in telecommunications markets, Powell said deployment of broadband “very likely holds the key” for long-term recovery of the telecom industry. Lawmakers, he said, should look at the merits of updating the telecom act to provide the correct framework for broadband. Powell outlined 5 other steps he deemed critical to telecom’s recovery.