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59 Antitrust Bull. 9 (2014)
Competition Policy and Too Big Banks in the European Union and the United States

handle is hein.journals/antibull59 and id is 17 raw text is: 

THE ANTITRUST BULLETIN: Vol. 59, No. 1/Spring 2014 : 9

                              C ompetition policy and

                     too big banks in the European

                          Union and the United States


   This article examines the role of antitrust and competition policy in
   regulation of large banks made fragile by the financial meltdowns of
   2007-09. We compare crisis-related regulation in the European Union
   and the United States and find that in the European Union, competi-
   tion policy experts played a key role in applying crisis-related finan-
   cial regulation, but in the United States they did not. Consequentially,
   the European Union avoided making banks bigger as a side effect of
   making weak banks stronger. In the United States, bank consolida-
   tion was encouraged. We argue that in the United States, policies to
   preserve competition should be given a more significant role and
   made part of an on-going plan that will apply even in a time of crisis.
   At minimum, the Antitrust Division of the Justice Department should
   be promptly consulted by the prudential regulators of financial insti-
   tutions on all matters likely to substantially affect the structure of the
   financial services industry, including market power issues.
   KEY woRDs: antitrust, competition policy, concentration, consolidation,
   financial services industry, bank mergers

   *President, American Antitrust Institute.
       Principal, Don Resnikoff Law Firm and member of the American
Antitrust Institute Advisory Board.
AUTHORS' NOTE: Thanks to Sandeep Vaheesan and Katherine Jones for their edito-
rial assistance.

@ 2014 by Federal Legal Publications, Inc.

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