Private Enterprise. Private Comanies, the Private Sector Quotes
This warning was a decade before the Meltdown of 2008, but was not heeded by any of the politicians. As a result a number of the companies that made all those risky decisions assumed that if something went terribly wrong the government would not let them fail. Unfortunately, they were right and the taxpayers spent billions to prevent companies from failing. After the meltdown all the politicians vowed to end the too big to fail concept, but while some improvements were made, the Congress could not come to agreement, and the markets and a number of companies think that they are still too big to fail. This is particularly true for Defense Contractors where the government has and probably will in the future, protect irresponsible companies from failure if they are the only company that makes needed weapons and other equipment.
At the time, the few private companies that provided American Internet service did not want to increase the bandwidth speeds to homes. Those businesses who needed more bandwidth paid dearly for it, but consumers could not afford those rates. With fiber optics, it cost no more to provide higher bandwidth than lower. But then the Internet providers would not be able to make the huge profit margins on the corporate accounts. In much of Europe, however, the Government rules and regulations required a higher standard of performance for the public in general. In the US, the Government did not want to regulate the performance standards of the private sector with respect to the Internet. Clinton argued that the problem should be solved by the private sector, but if they could or did not, he argued that government should set the rules to solve the problem. The software and hardware companies were driving American digital technology forward, but the few communications company were working to maintain the status quo on bandwidth.
