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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (8016)	8/30/2001 6:48:44 PM
From: Don Lloyd	Read Replies (1) \| Respond to of 74559

Maurice - ...I'm as anti-government as the best of them, but if it's a public resource [spectrum] then government is the owner of it. There is no reason public value should be transferred without full payment, at what the market will bear, to private hands.... I disagree. At most, the government should be a trustee, not a owner. While the auction may be perfectly fine as an allocation device, allowing the government to be the recipient of the proceeds without cutting tax rates in response, or at least being required to reduce borrowing or pay down debt, is a mistake. It is possible that this is happening by default, but my suspicion would be that the only reason that the proceeds wouldn't end up in new government spending is that the politicians haven't woken up yet. Regards, Don