Tuesday, April 21, 2009

Fortune 500 Worst Year In History - Bring Back A Trust Buster

I wrote a post back in 2006 about monopolies causing or contributing to the Great Depression. And, guess what? We are right back to where we started. Effectively deregulating the anti-trust laws in this country have had a catastrophic effect on the economy, jobs and free markets.

It's time to dust off those old antitrust laws that were passed for a reason. All of the firms at the top of this list should be busted up. Time to bring back a trust buster. The fact that the Federal Reserve and Treasury are making completely incompetent decisions by asking oligopolies to take over failed oligopolies with this financial crisis is an egregious and heinous act in the face of antitrust laws.

Goldman Sachs, Morgan Stanley, Citigroup, JP Morgan Chase and Bank of America would be at the top of my list. Of course, we have been wailing on this very fact since these completely incompetent organizations and the asshats who run them started taking down the economy and using terrorist tactics to extort money from poor people to bail them out.
posted by TimingLogic at 2:30 PM