Democratic presidential candidate, Sen. Bernie Sanders, I-Vt. speaks at the National Association of Latino Elected and Appointed Officials, Friday, June 19, 2015, in Las Vegas. (AP Photo/David Becker) (Photo: )
WASHINGTON -- Sens. Bernie Sanders (I-Vt.) and Elizabeth Warren (D-Mass.) sent a letter on Friday accusing big cable companies of using monopoly powers to muscle consumers into paying higher prices.
In the letter, addressed to Federal Communications Commission Chairman Tom Wheeler, Sanders and Warren wrote that mega-mergers have left over 60 percent of Americans with no choice whatsoever when it comes to their cable and Internet providers. This state of things, they wrote, makes it possible for companies to jack up prices without losing customers to competition. Sens. Al Franken (D-Minn.) and Ed Markey (D-Mass.) also signed the letter.
"As the telecommunications industry becomes increasingly concentrated, this lack of choice has resulted in huge price increases and often poor service for consumers," the senators wrote. "There are now de facto telecommunications monopolies throughout the United States."
The letter noted that a new merger between Time Warner Cable and Charter Communications would only exacerbate the problem, saying that recent Time Warner price increases suggest the cable giant is already insulated from normal market pressures. Modem rental charges for Time Warner have jumped 203 percent since they were introduced in 2012, according to the letter. The FCC has the power to block the TWC-Charter deal.
"Given the lack of incentive for companies to provide better quality service and competitive prices, it is no surprise that individuals rank cable and Internet providers last in customer satisfaction when compared to other companies in other industries," the senators wrote.
Sanders and his colleagues asked for the FCC to publish a host of cable and broadband pricing data, so consumers could see how much they pay compared to customers in other areas. They asked the FCC to provide average prices for each state and each cable provider, and also asked the agency to publicize the average prices in urban areas compared to those in rural markets.
Democratic presidential candidate Sen. Bernie Sanders waves to supporters after officially announcing his candidacy for the U.S. presidency during an event at Waterfront Park on May 26, 2015 in Burlington, Vermont.
Bernie Sanders On The Campaign Trail
Sen. Bernie Sanders gathers with members of his family after officially announcing his candidacy for the U.S. presidency on May 26, 2015 in Burlington, Vermont.
Bernie Sanders On The Campaign Trail
Sen. Bernie Sanders delivers remarks while officially announcing his candidacy for the U.S. on May 26, 2015 in Burlington, Vermont.
Bernie Sanders On The Campaign Trail
Sen. Bernie Sanders speaks to the media about his agenda for his presidential run on April 30, 2015, on Capitol Hill in Washington, D.C.
Bernie Sanders On The Campaign Trail
Sen. Bernie Sanders delivers remarks at a town meeting at the South Church in Portsmouth, New Hampshire on May 27, 2015.
Bernie Sanders On The Campaign Trail
Sen. Bernie Sanders receives a standing ovation while speaking at a town meeting at the South Church on May 27, 2015 in Portsmouth, New Hampshire.
Bernie Sanders On The Campaign Trail
Supporters listen to Democratic presidential candidate Sen. Bernie Sanders speak during a rally with local residents on Saturday, May 30, 2015, in Ames, Iowa.
Bernie Sanders On The Campaign Trail
Sen. Bernie Sanders speaks during a news conference on Capitol Hill in Washington, D.C. on June 3, 2015.
Bernie Sanders On The Campaign Trail
Sen. Bernie Sanders, accompanied by Rep. Brendan Boyle (D-Pa.), right, and others, speak on labor issues on Thursday, June 18, 2015, on Capitol Hill in Washington, D.C.
Bernie Sanders On The Campaign Trail
Sen. Bernie Sanders speaks during a town hall meeting at Nashua Community College in Nashua, N.H. on Saturday, June 27, 2015.
Bernie Sanders On The Campaign Trail
Sen. Bernie Sanders speaks at a campaign event at Drake University on June 12, 2015 in Des Moines, Iowa.
Bernie Sanders On The Campaign Trail
Sen. Bernie Sanders greets guests at a campaign event at Drake University on June 12, 2015 in Des Moines, Iowa.
Bernie Sanders On The Campaign Trail
Sen. Bernie Sanders greets guests at a campaign event at Drake University on June 12, 2015 in Des Moines, Iowa.
Bernie Sanders On The Campaign Trail
Buttons sit on a table during a campaign event for Sen. Bernie Sanders at Drake University on June 12, 2015 in Des Moines, Iowa.
Bernie Sanders On The Campaign Trail
Richard Rarick shows his support as he waits for the start of a campaign event for Sen. Bernie Sanders at Drake University on June 12, 2015 in Des Moines, Iowa.
Bernie Sanders On The Campaign Trail
Sen. Bernie Sanders chats with supporters during a visit to his Iowa campaign headquarters on June 13, 2015 in Des Moines, Iowa.
Bernie Sanders On The Campaign Trail
Sen. Bernie Sanders speaks during a news conference to discuss legislation to restore pension guarantees for thousands of retired union workers, in front of the US Capitol in Washington, D.C. on June 18, 2015.
Bernie Sanders On The Campaign Trail
Sen. Bernie Sanders speaks during a town hall meeting on July 2, 2015 in Rochester, Minn.
Bernie Sanders On The Campaign Trail
Sen. Bernie Sanders greets local residents before walking in a Fourth of July parade on Saturday, July 4, 2015, in Waukee, Iowa.
Bernie Sanders On The Campaign Trail
Sen. Bernie Sanders greets local residents while walking in a Fourth of July parade on Saturday, July 4, 2015 in Waukee, Iowa.
Bernie Sanders On The Campaign Trail
Sen. Bernie Sanders speaks at a campaign rally on July 6, 2015 in Portland, Maine.
Bernie Sanders On The Campaign Trail
Supporters of Democratic presidential candidate Sen. Bernie Sanders attend a campaign rally on July 6, 2015, in Portland, Maine.
Bernie Sanders On The Campaign Trail
Sen. Bernie Sanders arrives with his wife Jane at a campaign rally on July 6, 2015, in Portland, Maine.
Jason Fitz and Frank Schwab join forces to recap the draft in the best way they know how: letter grades! Fitz and Frank discuss all 32 teams division by division as they give a snapshot of how fans should be feeling heading into the 2024 season. The duo have key debates on the Dallas Cowboys, New York Giants, New Orleans Saints, Los Angeles Rams, New England Patriots, Las Vegas Raiders and more.
There haven't been many punters drafted in the fourth round or higher like Tory Taylor just was. Chicago's No. 1 overall pick welcomed him in unique fashion.
Rising Treasury yields are once again a headwind for stocks. Strategists don't see relief coming unless Fed Chair Jerome Powell is surprisingly dovish in his press conference on Wednesday.
