Absolutely nothing.

Too big to fail?

More: Russell Robert tackles the Fannie/Freddie debacle here and here.

Too big to be fair?

Imagine if we used antitrust laws on other successful organizations, like sports franchises. Sorry Celtics, you’re disqualified from the playoffs this year because you already have too many titles. The same goes for you Yankees and Patriots as well–it’s just not fair to allow y’all to dominate. You have to give the other teams a shot. Similarly, what if other teams were given an advantage merely because they hadn’t made it to the post-season in a while? Such reasoning is absurd of course. It makes even less sense to tie down productive businesses with foolhardy antitrust regulations because of the relative ease of entry for new competitive firms compared to the rather restricted process of expanding a league. Don’t get me wrong, politically connected corporations are more than happy to use the law to hamstring their competitors, prevent entry, etc. Such behavior is despicable and ought to be prosecuted. The Justice Department would do well to seek out firms that used their lobbying muscle to gain extraordinary advantages and punish them. More importantly, though, is changing the rules and regulations that allow corporations to use political connections in this way. The federal government ought not to be able to favor one corporation at the expense of another, that is, at all.

Two more grood articles on the Fannie/Freddie fiasco here and here.

Along those lines, I’m excited to see this film.

3 Responses to “Antitrust, bailouts and other meddling: what is it good for?”  

  1. 1 Christa

    Oh – cool. I didn’t know they were making a movie of that. I love Harrison Bergeron. I hope it doesn’t end the same way, though. :)

  2. 2 kevin

    So who should we thank? FDR and the New Deal? http://en.wikipedia.org/wiki/Federal_National_Mortgage_Association

  3. 3 tom

    Christa, It’s one of my favorite short stories as well:)

    Kev, no doubt!

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