Oh, BTW, just to clear up some misconceptions about the radio spectrum. 
  The FCC actually holds the radio spectrum IN TRUST for the general 
public.

You must have permission from the FCC (i.e. a broadcast license) to 
transmit at any power level over a couple of watts.  There are some 
minor exceptions (the FRS band) and a couple of places (like the CB 
waste land) where the FCC has sort of a hands-off approach, but every 
transmitter and every person that is transmitting must be licensed.

The rules are relatively clear and and infractions will get you silenced 
pretty quickly.

As for content, the FCC doesn't give a hoot, as long as it is in keeping 
with local moral standards.  (A talk show interviewing hookers might be 
OK in Las Vegas, but will get you in big trouble in Salt Lake City!)