Jan. 13 (Bloomberg) -- There has been a fair amount written
recently about various institutional cartels that are thriving
in the U.S. despite antitrust laws designed to prevent their
My previous column compared Wall Street’s few remaining
investment banks to a cartel, with explicit pricing power over
its hundreds of thousands of customers, an advantage that will
only grow greater as the economy improves and the number of
thriving banks continues to diminish.