Years back the government decide to put a halt to monopolies by breaking up large companies such as AT&T. I was a great idea, but the idea became even better when this smaller companies allowed others to become a part of their market. This gave us choice.
That the heck happened to that idea? This article states Bank of America is buying Countrywide. Bank of America is already one of the largest banks in the U.S. Now they are the largest mortgage company out there.
Our choices are disappearing. Back when I worked for Worldcom I watched them buy up every other company that they could. Then they bought MCI. Now that whole mess is owned by Verizon. AT&T has bought up everything that they could get their hands on. When they bought SBC along with Cingular they once again became the big dog on the block. There are really only two major phone companies these days. The last few holdouts will probably be eaten up soon.
Don’t let me get started on Walmart, but how many options do you have these days when it comes to shopping? They have destroyed every local grocery store in every town they have opened up in.
If the government continues to allow this to go on one day we will have one bank, one phone company, and one store to shop at.
Instead of allowing such actions, I think the government needs to curb these transactions and start helping out the little guys.
Give us back our choices!
