Glassman Criticizes FTC Attempts to Regulate Online Privacy

Business Wire, May 31, 2000

Business Editors/Hi-Tech Writers

WASHINGTON--(BUSINESS WIRE)--May 31, 2000

Warning of further sharp declines in the NASDAQ as a result of federal interference with the New Economy, James K. Glassman, host of the new website TechCentralStation.com (www.TechCentralStation.com), issued a sharp rebuke to the Federal Trade Commission today in his weekly column for TechCentralStation.com.

Glassman writes, "In my opinion, the government has absolutely no business dictating to me the terms under which I will shop at Amazon.com. But even if you believe in privacy laws, there's no law here." Glassman added that the FTC was overstepping its bounds by injecting itself into this matter, citing that it was Congress' job to make the rules, and that executive agencies such as the FTC were simply meant to enforce the rules.

Glassman's column, "Who Asked the FTC to Regulate Online Privacy," points out that the FTC has not disclosed precisely the new burdens it would place on web companies, or what it will cost to implement these new regulations. It's proposal simply asks Congress to leave it up to the "implementing agency" to define these new requirements, according to TechCentralStation.com.

"The precipitous decline of the NASDAQ [From above 5000 to below 3500] is a direct consequence of this administration's heavy-handed regulation and flawed monetary policy that inexplicably target the New Economy. It's time we recognize that before further damage to American shareholders is done," said Glassman.

In the April 25th Edition of the Boston Globe, the column "Boston Capital" reported, "James Glassman was the first to pin the blame (for the NASDAQ's decline) on the administration."

To read James Glassman's column live, log onto www.TechCentralStation.com. James Glassman is available immediately to discuss the FTC's attempt to regulate the Internet.