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To: ANANT who wrote (58107)	6/16/1998 5:08:00 PM
From: Dale J.	Respond to of 186894

Anant, I heard partial testimony of Greenspan about M&A and antitrust. He seems to have said that the anti trust is trying to predict what these successful high tech companies will do in future. It may be prudent for the DOJ to leave this to the market forces as any anti trust actions may stifle innovation. That was my take on it also. Below is a link along with a couple relevant excerpts. He could have summarized his testimony down to one sentence: "The DOJ should leave Intel and Microsoft alone." interactive.wsj.com To demonstrate that a particular antitrust remedy will improve the functioning of a market is also often fraught with difficulties. For implicit in any remedy is a forecast of how markets, products, and companies will develop. Forecasting how technology, in particular, will evolve has been especially daunting. If competitors are excluded because of a company's excellence in addressing consumer needs, should such activity be constrained by law? Such a standard, if generally applied to business initiatives, would have chilled the type of competitive aggressiveness that brings efficiencies and innovation to the marketplace. Fortunately, that principle was subsequently abandoned by the Supreme Court. More importantly, antitrust actions of recent years have sought to enhance efficiencies and innovations. I leave it to others to judge their degree of success. But the regulatory climate in antitrust, indeed throughout government, has moved in a more market-oriented direction. I believe that is good for consumers and the nation.