He's got a point there. However, to say the telecommunications market failed due to a single factor is just silly. It was the result of all kinds of stupid at the local, state, and federal level of government, and the nature of the market itself. A telecommunications market needs to be regulated to encourage competition, particular in light of its high entry barriers (you can't have every cable and dsl company dig of half of the country to lay their wires, and nor can they afford to do so). Additionally, you need and protect consumers by ensuring that those with a dominant market share don't abuse their position, as ISPs such as comcast have demonstrated. However, if anything government has for decades regulated the market in exact opposite way they should of been doing.
