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It's so disgusting to see that the European Union has a lot more balls/ovaries in terms of enforcing antitrust laws against Microsoft, a company that should have been broken up years ago. However, this goes way beyond keeping up with people across the Atlantic. Merger mania and too large corporations are a serious economic problem.
I've added a new item for My Economic Recovery Plan:
5) Start busting the trusts: There needs to be far greater enforcement of our antitrust laws and legislation closing loopholes sleazy corporate lawyers and conservative judges have created. Legislation should also give consumer groups and unions standing in court to sue to block mergers. The number of lawyers involved in antitrust work at the Dept. of Justice should be expanded dramatically. Mergers inevitably lead to job losses, job losses our economy cannot afford. Also, when any company is "too big to fail," it is just plain too big and needs to be broken up.
There is another reason for supporting antitrust reform. The original trust busters weren't merely concerned with the lack of consumer and employer choices that monopolies (then known as "trusts") bring. They also had seen a deterioration of our nation's democratic character as a small number of wealthy owners of a smaller number of huge corporations had hugely disproportionate power over our political and cultural life.
Sound familiar?
Good old fashioned trust busting will strengthen our economy while helping to restore our nation's civic life.
Side note: My economic recovery plan also has been altered to include unions taking over management of the automakers. It was an idea I had previously promoted on this blog, but forgot about. Thanks to Tengrain for reminding me about that idea.
Teddy Roosevelt and I thoroughly agree.
The uncontrolled greed of corporate America is unsustainable. But I believe what's more important is breaking the Republican-Democrat duopoly of our political system.
Yes let the unions run the companies that they have destroyed, I would also recommend letting the inmates run the asylum. .The Silent Majority
O/T
Well, it's getting thick in NY political circles.
Bill Clinton and his wife, the Borg Queen, will be hosting a fundraiser for NRA Queen, Kristin Gillibrand.
I have the details.
If I were in Manhattan, I would be outside holding a picket sign and protesting.
Jimmy: It's great to see that there are people who know history.
Lew: I see all of it as tied together.
Silent Majority: Your comment is so typical of how the extreme right feels utter contempt for hard working middle class Americans. Never mind that the unions were the ones trying to get the auto makers to move toward fuel efficient vehicles, a move which would have prevented the need for any bailout in the first place.