Yesterday CNET had Reed Hundt on broadband and universal service. He hinted that a Kerry Administration would likely expand universal service to include broadband. Hundt calls for the "necessary public money" to make it affordable in rural and underserved areas. The former chairman also hit on Ray's fourth prediction: broadband tax credits.

Maybe Kerry should ask Reed Hundt to run a new universal service non-profit, with oversight from the FCC of course, to distribute the revenues from the NextWave auction. The organization would not likely suffer from agency problems and would certainly be able to forestall abuses of its financial largesse.

Or perhaps not.