FCC rules

Television companies better have deep pockets in 2005. Uproar in censorship of the Federal Communications Commission (FCC) started when Bono from U2 said, "f***** brilliant" at the Golden Globes and when Janet Jackson's breast appeared in the Super Bowl. Suddenly FCC chairman Michael Powell is suddenly taking on government regulation of content. This is interesting because Michael Powell was a chief investor in the theory of de-regulation in media. These two exploits forced congress to take action in the form of fines, ranging from $27,500 in the beginning, to $3 million that we see in…