Sunday, May 24, 2015
Antitrust has been neutered
See Robert Reich's article dated today. There was a time when if you engaged in unfair competition you were criminally punished. No longer. He starts with the recent admission by several big banks to criminal wrongdoing in manipulating currency markets with a mere financial slap on the wrist. But then he details many more instances of how big money virtually gets away with monopolies, with little to no enforcement by antitrust laws. He details how drug companies, cable companies, health insurance companies get away with it because they pay Congress to rig the rules in their favor.