[1989] in Commercialization & Privatization of the Internet
Re: Privatization, the SEC, and online access to EDGAR
daemon@ATHENA.MIT.EDU (Marvin Sirbu)
Wed Jan 15 12:12:44 1992
Date: Wed, 15 Jan 1992 11:45:37 -0500 (EST)
From: Marvin Sirbu <ms6b+@andrew.cmu.edu>
To: com-priv@psi.com, James P Love <LOVE@pucc.princeton.edu>
In-Reply-To: <9201150229.AA07941@psi.com>
The Edgar project is a fascinating one with a long and controversial
history. However, there is an implication in James Love's message which
needs clarification. Love asserts that the taxpayers have already paid
for the Edgar project. In fact, it is my understanding that the
contract price offered by Mead for the development of Edgar was far
below its actual costs. Mead offered this concessionary price in return
for the opportunity to earn revenue by selling access to the public. To
rewrite the contract now by changing Mead's exclusive right to resell
Edgar would also require renegotiating the price paid by the SEC for
Edgar in the first place. One can quarrel with the decision of the SEC
to make such a bargain, but it did transfer the cost of building the
system from the general taxpayer to the users of the information.
Mead's actions are not unlike those of the 17th century English postal
coach operators who would agree to carry the King's mail for free in
return for a "patent" (i.e. franchise) granting them exclusive rights to
carry the public's mail for a fee.
Marvin Sirbu
Carnegie Mellon University
internet: ms6b+@andrew.cmu.edu
bitnet: ms6b+%andrew@CMCCVB
fax: +1 412 268 3757
phone: +1 412 268 3436
