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| | 9-17-98, Statement of A. Gerard Roth (Site not responding. Last check: 2007-11-05) |
 | | It is comprised of smaller networks from hundreds of local exchange carriers (your local phone company) which provide a variety of sophisticated, as well as relatively simple telephone services to residential, government, and corporate customers in their defined geographic area. |
 | | A private network may be as simple as a small switch to handle a few telephone extensions, or may be as complex as a large, switched voice and data network. |
 | | Private networks may enable direct electronic funds transfers or system-wide payment mechanisms, and may even deploy private fiber optic circuits which parallel, but are not part of, the public network. |
| financialservices.house.gov /banking/91798gte.htm (3396 words) |
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