Antitrust: good news, bad news

Good: the new antitrust regime in Washington is getting aggressive.

President Obama’s top antitrust official and some senior Democratic lawmakers are preparing to rein in a host of major industries, including airline and railroad giants, moving so aggressively that they are finding some resistance from officials within the administration.

Bad: Some Obama administration officials are resisting.

In some cases, though, the new approach is being opposed by administration officials. Some fear that the crackdown is coming at a bad time, as corporate America reels from the recession. Other officials embrace the Bush administration’s view that larger companies and industry alliances can provide consumer benefits by making their businesses more efficient.

I really don't understand the latter, especially since two of the administration's biggest problems right now - reining in the excesses of Wall Street and reforming the healthcare system - are the direct result of previous administrations abdicating their antitrust responsibility, stepping aside and allowing the financial and healthcare industries to consolidate. Power became highly concentrated within those industries, competition slackened, prices rose and consumer choices decreased, and now those major players are so politically and economically strong that they can easily block any attempt at reform.

Repeat after me, Mr. Obama: increased industry power does NOT benefit consumers or society as a whole - no matter what those industries tell you. Do everything in your power to regulate industry and restore the critical competition that your predecessors let slip away.