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Federal Trade Commission and Dismal Performance on Mergers
Most citizens agree that we need the Federal Trade Commission to protect us from Corporate Greed. However any such citizen who believe a government agency will help you in anyway or improve your quality of life is indeed amongst the bottom tier of intellectual capacity. In fact the Federal Trade Commission in their slow response time to pretend to monitor mergers and aquistions have probably single handedly caused more job losses and stock losses then Osama Bin Laden. In fact recently in a Think Tank Conversation it was discussed that the Federal Trade Commission's Anti-Trust Department may in fact work closely with Osama Bin Laden. Such debate is typical amongst think tanks when discussing the run away over regulation, puffery, self-aggrandizement of such agencies. Some say the SEC also works for OBL, others are convinced that Elliot Spitzer, who is running for New York Government has the same objectives as Osama Bin Laden; to tear down our economy and reduce the power of American Corporations, but, why; to transfer power and wealth out of America? If we look at the recent mergers in corporate America and the stock price drop while the Federal Trade Commission was collecting and analyzing all the data, we see losses in the 500 million dollar ranges, wow? So, since the FTC caused this when are they going to cut a check to the consumers and investors who lost money, who potentially could have gained from the merger? In reviewing the letters from the FTC to such merging corporations of what was asked for the information was completely irrelevant to anti-trust laws or predatory pricing. As a matter of fact such mergers would open the door for competition and lower prices to consumers, while allowing for some pretty nifty short-term stock price gains to investors. The truth is the FTC does not know what they are doing, is too caught up in political whims and has way too much power for their abilities and knowledge. The Federal Trade Commission is completely UNFIT TO LEAD and it needs to be shut down for the benefit of consumers and investors both foreign and domestic immediately. If the FTC was required to pay back some of their ill-gotten gains or pay for a few of their mistakes in real losses to investors and consumers the number would supercede ten times their annual budget in my humble economic statistical opinion. Let's do America a favor, a gift to our citizenry; reduce the FTC or close it completely and give America back her right to free contract while reaping the rewards of free enterprise and free markets. Think on this. "Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs
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Comment by Deborah L. Rhode
