Justice Department’s suit to block AT&T’s deal w/T-Mobile = "forceful antitrust move by Pres. Obama"

[ClarkUSA]

Another promise kept. This will never happen under a Republican president.

When President Obama took office, he vowed a new era of antitrust enforcement, promising to crack down on deals that undermined competition... On Wednesday, the Justice Department sued to block AT&T’s $39 billion takeover of T-Mobile USA, a merger that would create the nation’s largest mobile carrier.

“We believe the combination of AT&T and T-Mobile would result in tens of millions of consumers all across the United States facing higher prices, fewer choices and lower-quality products for their mobile wireless services,” said James M. Cole, the deputy attorney general.

It is arguably the most forceful antitrust move by the administration... President George W. Bush’s administration took a more permissive stance, promoting the value of free enterprise. Critics contend that his antitrust authorities rubber-stamped nearly every major telecommunications deal, like the controversial merger of the satellite radio companies Sirius and XM.

http://dealbook.nytimes.com/2011/08/31/the-justice-department-versus-deal-makers/?hp

Related Articles:

"T-Mobile Chief Says He Was Surprised by Justice’s Lawsuit"
http://dealbook.nytimes.com/2011/08/31/t-mobile-chief-admits-he-was-surprised-by-justices-lawsuit/

"How AT&T Got to a Standoff With the Government"
http://dealbook.nytimes.com/2011/08/31/how-att-got-to-a-standoff-with-the-government/

"Taking on a Veteran Antitrust Judge in the AT&T Fight"
http://dealbook.nytimes.com/2011/09/01/taking-on-a-veteran-antitrust-judge-in-the-att-fight/

[FormerDittoHead]

1. Must give credit where's it's due. I've been waiting 30 years for a merger to be blocked...

Mergers are how "too big to fail" happens.

25 years ago I opened up a checking account in bank walking distance from me.

Since then, the bank has changed names FIVE TIMES, and now it's Bank of America and now I have to drive to the closest branch.

In this time, not ONCE have I felt ANY benefit for all the mergers.

Mergers only serve to allow business to reduce competition and avoid competing with PRICE.

MAYBE instead of looking to get bought-out, T-Mobile might actually (gasp!) LOWER ITS DAMN PRICES and COMPETE by CHARGING LESS.