FCC Chairman Julius Genachowsk

Outgoing Federal Communications Chairman Julius Genachowski appeared at a Bloomberg Washington Summit Tuesday morning. At the Summit, Genachowski warned of allowing AT&T and Verizon to dominate the wireless industry would be a “very bad thing for our innovation economy.”

Genachowski, announced last month his decision to step down in the coming weeks, claims his team’s actions have prevented a duopoly specifically pointing out his record of blocking AT&T’s bid to buy out T-Mobile. He is hopeful Sprint and T-Mobile will make gains and further offset any additional oligopolies in the wireless industry.

Looking forward, Genachowski stated the need for further bandwidth as demand for mobile data explodes. Once again, though, Genachowski emphasizes the need to ensure fairer rules to prevent the biggest players from snagging all airwave licenses, not just to the highest bidder.