Whats wrong with the way Internet companies are policing themselves?
They regulate themselves with fine-print contracts that limit their liability as much as possible while shifting most of the responsibility onto the buyer. Standard contracts are definitely tilted to the seller’s viewpoint. It’s like the lure to the manor in Medieval times: Whatever the peasants were offered, they had to take. Q: Are you concerned that if the government gets involved, that could stifle innovation on the Internet? A: No. Unfair practices limit markets. Democratic practices always expand markets. Q: What laws need to be enacted? A: There are five major principles here: Consumers must be notified of the terms of their transaction; they must consent to all policies; they should be given access to all the information collected about them; they must be guaranteed secure transactions; and all of these policies have to be enforced. Q: Are you concerned about companies going out of business and selling their customer databases as part of their liquidation? A: That’s one danger
