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Reports that lawmakers and telecommunication industry executives are talking about rewriting the landmark law governing United States' telephone, cable and media businesses in 2005. Claim that the law may be outdated by technology and industry trends; Proposal for deregulation; Difficult issues facing the policy makers.

Comments on the issue of whether less regulation means more benefits for investors. Implications of U.S. President George W. Bush's nominee for chairman of the Securities and Exchange Commission (SEC) , Representative Christopher Cox, a Republican and big-business advocate; View that a lawsuit brought by the SEC against Citigroup reminds us why the rules that are despised by business are good for investors; Background on the lawsuit; Suggestion that the Depression-era legislation, known as Glass-Steagall, written to eliminate the kinds of conflicts that financial supermarkets present, should not have been dismantled; Why investors should be wary of those who claim that the free markets, not regulators, are best at resolving conflicts.

Reports that the Justice Department has decided not to ask the Supreme Court to consider reversing a decision by a federal court in Philadelphia that had ordered the Federal Communications Commission to reconsider its deregulation of media. Media companies which had been hoping to expand their holdings in stations and newspapers and how some bought new outlets on the belief that George W. Bush's administration would side with deregulation; Critics of deregulation who say too few people have too much media power in their hands already; Why the Bush administration chose not to contest the issue.

Reports that the Senate Commerce Committee, chaired by United States Senator John McCain of Arizona, will introduce legislation to overturn some of the media ownership rules adopted by the Federal Communications Commission (FCC). Indication that the proposed bill would give the FCC authorization to tighten regulations that are in the public interest; Speculation that the proposal will be challenged in the House of Representatives; Mention that a parliamentary maneuver could be used to overturn the FCC decision; Response of FCC chairman, Michael K. Powell.

Reports on the relationship between the U.S. government and the airline industry. Deregulation of the industry 25 years ago; Difficulties the government faces in its approach to handling the airline industry; Involvement of the government in the bankruptcy protection of airlines.

Reports on the U.S. Commodity Futures Trading Commission which was set up to protect investors from abusive practices in commodities. Rules for commodity-trading advisors which originated with the Managed Futures Association; Discussion of the investors' views of deregulation; Steps needed to restore investor confidence.

Discusses the prospects that legislation to overhaul the United States financial system, under consideration as of July 2, 1999, will be passed. Provisions of a banking bill approved by the House of Representatives; Outlook for agreement between Senator Phil Gramm (R-Texas), head of the Senate Banking Committee, and President Bill Clinton.

Focuses on financial services deregulation under consideration by the United States House of Representatives on July 1, 1999. Support for the bill; Potential for repeal of the Glass-Steagall Act of 1933 and other legislation rooted in the Depression; Obstacles remaining to the legislation's passage.