AGENCIES OF 1934
Federal Communications Commission: This agency regulates
interstate and foreign communications by radio, television, wire and cable.
It grants broadcasting licenses, assigns frequencies and monitors broadcasts
for compliance with the law. Until 1987, it was responsible for enforcing
the Fairness Doctrine, which required political broadcasts to give equal
time to opposing viewpoints. (The Reagan Administration killed this policy
-- which is why you get three hours of unopposed Rush Limbaugh each morning.)
National Mediation Board: This agency was created to oversee
labor-management relations. Its duties include mediating disputes, providing
for voluntary arbitration and hearing employee grievances.
Securities and Exchange Commission: This quasi-judicial agency
was created to end dishonest and unethical manipulations of the stock market.
It bans insider trading, requires full and honest disclosure of all pertinent
information on the sales of stocks, and regulates their exchange.
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