Re: :"it's significant that in a down-day like today M$FT is resilient enough to signal that the market has digested the crap and that there is not much scope going forward for the Jackson-Reno gang.."
I like the way this Kudlow article put it:
cnbc.com
"Here's a final point, supplied by a recent Investor's Business Daily editorial.
Since 1994, the Justice Department has filed nearly 500 anti-trust suits,
including those against IBM, Cisco, CBS, NBC, Time Warner, Georgia-Pacific,
General Electric and Citigroup.
Five hundred anti-trust actions is a big number that represents a major step-up
in the Federal government's attempt to regulate the economy. The Microsoft
lawsuit remedy proposal would by itself be a major expansion of anti-trust
policy, where competitors, not consumers, would be protected.
This is new stuff, but it is not good stuff. Periods of intense anti-trust regulation,
such as the early 1900s, the 1930s and the 1970s, were periods of economic
under-performance, or worse. Ditto for the stock market. Anti-trust is
anti-growth and anti-wealth creation.
Also, what's bad for the goose may be worse for the gander. Other dominant
technology companies may be prosecuted on the same flawed notion that
competitors need to be protected even if consumers are perfectly happy.
Before Messrs. Jackson and Klein do any real economic damage, let us hope
the Washington, DC, federal district Appeals Court steps in to present clearer
economic and judicial logic in order to defend the public's true interest. Which
is a continuation of our technology-driven prosperity that rewards, not punishes,
the entrepreneurial men and women that have made this miracle possible.
TTOSBT |
