A friend is fond of quoting the factoid "a goldfish has a short-term memory of six seconds, so every trip around the bowl is a new experience."
Antitrust partisans suffer from the same condition. Earlier this week, Sirius XM avoided, or perhaps only postponed, bankruptcy. Yet up to only eight months ago, when the companies were finally allowed to merge, endless time and money was spend on hand-wringing over the potential monopoly power of such a merged entity. And conditions were imposed that seriously impact the survival capacity of the merged entity.
Even before this most recent round, when satellite radio was first set up the FCC, prodded by various paladins of "the public interest," insisted that there be two companies. Competition with entrenched existing radio, the Internet, and personal devices was not enough. It was essential that two satellite providers be pitted at each other in ruinous prices wars and talent payments that would ensure that neither achieved a sound financial footing. We call this "competition policy."
All of this has gone down the memory hole. As a big fan of satellite radio, I want an apology from all the meddling fools who have brought this great service to the brink of ruin.