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Proposed Internet Curbs Threaten Net Data Quality
According to a front page article in the December 1st issue of The Washington Post, several of the largest on-line technology and media companies will embrace a wide-ranging set of voluntary actions to prevent children from accessing adult-oriented material via the Internet. Companies like America Online and Disney plan a broad public-education campaign to encourage parents to use "filtering" software that blocks access to adult-oriented Internet sites.
The efforts represent a new attempt to prevent government from regulating the online industry. In June, the U.S. Supreme Court overturned the Communications Decency Act, a law that made it a crime to make "indecent" information available to minors over the Internet. A revised version of the CDA has been introduced in the U.S. Senate and in several state legislatures.
The emphasis of the online industry initiative will be on software "filters." On one hand, proponents of filtering maintain that filtering is the preferred way to protect children online. But free speech advocates point out the dangers of filtering not only to free speech, but to data and information quality as well. According to the Post, in one recent test privacy researchers discovered that one filtered search engine blocked access to almost 90% of the Internet sites that mentioned common phrases like "American Red Cross" and "Bill of Rights." A three day "summit" is being held in Washington (December 1-3) to consider the implications of restricting Internet access. The article was written by Rajiv Chandrasekaran.
Maryland Drivers Rushing to Seal Records
According to a front page report in the December 1st issue of The Washington Post, Maryland motorists are rushing to block public access to their driver records. A new state law that went into effect September 1st allows Maryland drivers to block most information that had been available to anyone willing to pay a $5-per-record fee. Among the data available to the public were drivers' names, addresses, driving records, and types of vehicles owned.
According to the Post, word of the new law quickly spread via the Internet and news reports. Between September 1st and December 1st over 126,000 of Maryland's 3.4 million drivers opted to close access to their driving records. The Maryland law satisfies a recent federal requirement that states give people the option of closing their driving records. Maryland residents can block release of information on their drivers' licenses by calling the Motor Vehicle Administration toll-free number: 1-888-682-3772. The State of Virginia does not permit public access to drivers' records. The article was written by Post staff writer Paul Valentine.
Maryland to Offer More Data on the Internet
On December 4th, The Washington Post reported that the State of Maryland will soon offer more information and services on the Internet. According to the Post, within a few months Marylanders will be able to look up the value of their neighbors' homes and renew real estate licenses though the state's Web site. By 2000, the state hopes to renew an additional 175,000 workers' professional licenses. In January, Maryland expects to bring the state's property tax and assessment records online. Electronic license renewal and forms filing is expected help the state save staffing and paperwork costs and save time for those who hold professional licenses.
The focus of much of Maryland's online efforts is the two-year-old Maryland Electronic Capital site (http://sailor.lib.md.us/mec/), which offers information ranging from state agency e-mail addresses to tax forms and business permit applications. The report was written by Post staff writer Amy Argetsinger, and appears on page B4.
Possible Manipulation of Stock Indexes
In Overseas Markets Worries
Regulators
On December 4th, a report in The Wall Street Journal's "Heard on the Street" column investigated several instances of stock index manipulation in overseas markets. (Stock indexes are used when trading stock-index options - contracts obligating one party to pay another party an amount related to the index's value at a future date). According to the Journal, several recent episodes of alleged or actual stock index manipulation in foreign markets have raised questions about how often manipulation occurs in the U.S. and abroad.
According to the Journal, traders have long maintained that the price of stock-index options could be influenced by heavy buying of selling of a few key stocks in a given index. One possible instance of stock-index manipulation occurred when two traders sold a number of stocks in a final minutes of trading, when there were few traders left on the exchange floor to buy. The stocks' prices plummeted. This resulted in a mismatch between the prices of the index and the underlying stocks.
There is also anecdotal information about program traders making big trades in individual stocks in an attempt to influence stock prices. According to the Journal, it would be difficult to manipulate the Standard & Poor's 500 index, but the Dow Jones industrials might be easier to manipulate because each of its 30 stocks has an equal weighting in the index, no matter how small. For now, the exchanges appear to be satisfied that existing surveillance systems and securities regulations will prevent any significant market manipulation. The report was written Journal, staff reporters E.S. Browning, Matt Murray, and Sara Calian, and appears on page C1.