Sometimes the DOJ goes after companies that have done nothing wrong, but more often it lets big-time antitrust violators get away with murder. In a recent case -- one that has roiled the publishing industry -- the DOJ has managed to do both.
What is needed is a non-Euclidean collegiate model, in which NCAA Football Bowl Subdivision and men's Division-I college basketball players would be recognized as employees, while other college athletes retained their "amateur" status.
In today's Washington, corporations too often dictate policy. But what's good for AT&T isn't good for the rest of us. With the DOJ decision, we see it's possible to challenge the most powerful corporations and make policy that actually serves the public interest.
Firms don't engage in price competition because they have a "gentlemen's agreement. If one of them starts undercutting the other they will drive down fees, and all of them see less money. The only way to end this is government action.
Why did Morgan Stanley decide to low-key Wal-Mart's impact on its rivals? Could it be that Morgan Stanley's comments were not helpful to it's partner Wal-Mart's stock? When do the anti-trust discussions begin?
If President Obama really wants to change the system that green-lighted the bailout of "too big to fail" banks, he will have to overhaul federal antitrust laws so that they actually protect the greater good.
Potentially egregious anti-trust violations in the insurance industry should not be permitted, and the government should be given the power to protect the public from harmful behavior that drives up prices.