Every time congress does these types of hearings very little gets done and what gets done takes a very long time. Most of us who have been around for decades have seen this played out over and over again with different issues. Now with YouTube, congressional members are just creating sound bites which do nothing in terms of solving problems.
We're in an age of lightning fast information and change. At the same time, congress is moving like someone in a horse drawn carriage. Businesses are running circles around them, and congress doesn't even see it.
While I am not a big fan of bureaucracy, we need a department exclusively that regulates tech. I would be willing to bet that congress is 20 years behind in what tech is doing. By next year, they’ll be 30 years behind. I'm sure that much of what tech is doing would be illegal, but congress is so far behind that they don't have a clue that tech companies are taking liberties which, if clearly known, would be just plain illegal.
These hearings about the recent banking debacle are going to do absolutely nothing. Why are we wasting our time with congress? They are like turtles moving along while everything else is moving at warp speed.
Congress… what a joke! By the way, both parties are equally responsible for this shit show.
