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Monday, May 11, 2009

How quaint

Look, Honey, they're talking about enforcing the antitrust laws again.

Comments (9)

Oh please let Goldman Sachs be at the top of the Department of Justice's target list.

There's so much low-hanging fruit out there, I wouldn't know where to start out. But Goldman Sachs is as good as any.

How much would you pay to see Henry Paulson do a perp walk in handcuffs?

My choice: all the health insurers and for-profit slimeball hospital chains.

We can all be thankful for the hard work done by our antitrust officials. Thanks to them, Microsoft is no longer a monopoly, telephone calls are cheaper, and that evil turtle egg cartel got busted up (really).

And next, even though I use many Google services everyday without paying a penny, the trustbusters think they can make things better ...

When I was in law school the anti-trust stuff was the most fouled up area of the law. The Supreme Court has made dozens of very stupid decisions in this area, so many in fact that there are lots of books written on the subject. I remember sitting in class reading some of the silly cases and just shaking my head. Evidently, a working knowledge of economics isn't a requirement for federal judges.

With Bear Stearns and Lehman Brothers out of the way, and Merrill Lynch force-fed to Bank of America, Goldman Sachs, Morgan Stanley and UBS have agreed to share their European "dark pools." Sounds ominous.

Gosh, A Hopeful and john rettig, how could you not mention JPMChase when considering the few banks still ruling Wall St Nation? Jamie Dimon's enterprise has provided many lessons in near-monopoly capitalism. Just last week WSJ's DealJournal discussed how post-stress test JPM expects to be "playing its size."

Perhaps the courts will provide a brake on monopoly capital. Consider, for example, the possibilities in WaMu's attempt(s) to retrieve itself from the wreckage left by government-assisted consolidation:

It is curious that the NYTimes piece entirely overlooks the financial titans in its neighborhood and chooses to point to prominent tech firms far west of the Hudson.

What one WSJ blogger had to say about Varney's announcements yesterday:

BTW, wasn't Teddy Roosevelt more of an accommodating trust manager than trust buster, despite the image he liked to project?

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