There's the bullsh*t the Obamedia feeds you. Then there's reality:
The Real Story Behind the Comcast-Level 3 Battle: Tech News «: "All of this said, no one here did anything wrong; these disputes aren’t uncommon. Well, no one did anything wrong until Level 3 whined to the press and regulators. When you’re on the losing side of a peering dispute, you’re always tempted to complain to regulators about how you’ve been treated unfairly. Then you remember a regulated peering arrangement is the only thing worse than what we have now. More regulation puts more power in the hands of the big providers, not less, as they have the experience, resources, and the legions of regulatory lawyers necessary to “play the game.”
Look at the Telecom Act of 1996; the Baby Bells won that fight due to their superior regulatory game-playing ability. The cable companies, PTTs (national telephone companies), AT&T, and Verizon would surely come out on top of any major movement towards peering regulation which would cut out the large number of small firms that peer 50 percent to 70 percent of their traffic."
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