Monday, May 11, 2009

US plans new antitrust effort

http://finance.yahoo.com/news/US-pla...-15199796.html

A step in the right direction is a good thing

The Justice Department warned corporate America on Monday that the government will aggressively investigate big firms that improperly dominate markets.

Assistant Attorney General Christine Varney said the department is abandoning legal guidelines put in place by the Bush administration in September 2008. Critics complained the earlier set of instructions made it difficult to pursue antitrust cases against big firms.

Varney laid out the new policy in a speech to the Center for American Progress, a left-leaning think tank.

She said some of the problems in the current economy were due to the lack of enforcement in the previous 10 years -- a clear jab at the Bush administration, which, she said, raised too many hurdles to antitrust investigations.

"There was a high cost to standing aside. We must change course