It took 8 months for the Dept of Justice (why them, anyway?) to approve the deal between Miller Brewing Company and Coors. They needed to make sure it would not reduce competition in the market. Yeah. Cause you gotta watch that beer market.
Yet it took less than 5 months for the Federal Reserve to approve Bank of America's purchase of Countrywide.
Bank of America announced it's deal in January: http://www.msnbc.msn.com/id/22606833/
And the Federal Reserve approved it (and Bank of America was already the largest depository institution in the country): http://www.msnbc.msn.com/id/24992730/
Can someone explain to me why it took longer to investigate and approve a deal between beer companies than it did financial institutions responsible for massive amounts of deposits and mortgages, etc.???
And am I the only one concerned about all of these huge corporations buying out other big corporations? It seems like before long everything is going to be owned by Microsoft, Time Warner and Starbucks. Ok, a little tongue in cheek. But, only a little.
This is why it's bad when I don't sleep.