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78 lines
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78 lines
4.9 KiB
Plaintext
I N V I S I B L E C O N T R A C T S
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George Mercier</p>
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<p> FEDERAL LICENSING PROGRAMS
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[Pages 480-481]</p>
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<p>[Certain conventions have been used in converting INVISIBLE CONTRACTS to an
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electronic medium. For an explanation of the conventions used, please download
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the file INCONHLP.ZIP for further illumination. Other background information as
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well is contained in INCONHLP.ZIP. It is advisable to EXIT this file right now
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and read the contents of INCONHLP.ZIP before proceeding with your study of this
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file.]</p>
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<p>By experiencing the direct benefits of Commercial enrichment acquired through a
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Federal license program, such as being an SEC registered stockbroker, or an ATF
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licensed manufacturer of fireworks, which is an obvious pursuit of federally
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participated profit or gain. Several federal monopolies were designed
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specifically for the existing participants to experience intensive Commercial
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enrichment in, as the net effect of a regulatory jurisdiction is to discourage
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potential new market entrants from competing with established corporate titans.
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In any market there are only so many potential customers available, and
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excluding new upstarts allows existing Grandfathers to have a bigger slice of
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the pie they would not otherwise be experiencing. For example, the creation of
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National Banks by the Congress, through the Comptroller of the Currency, is one
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such monopoly designed to enrich existing market participants, while shutting
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out new banks and damaging the end consumer. In any one demographic banking
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district, there is only so much business to be had; cutting out new entrants
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keeps a bigger slice of the banking pie for the owners. [634]</p>
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<p>[634]============================================================= For example,
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in 1967, F.W. Pitts wanted to bring a new National Bank into the Hartsville,
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South Carolina area. He submitted an application to the Comptroller of the
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Currency for a license certificate, and the request was denied. Reason:
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"... we were unable to reach a favorable conclusion as to the need
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factor."
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- CAMP VS. PITTS, 411 U.S. 138, at 139 (1973). That is correct: The
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Comptroller denied the application because the community was already adequately
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served by other banks, and there was no "need," seemingly, for the new proposed
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national bank. In this way, the existing banks in Hartsville shut out a new
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impending competitor. The letter from the Comptroller, in turning down the
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License request, listed the banks already in the Hartsville area and the
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deposits they carried [CAMP, id., at 139]. The Comptroller seemed to be very
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concerned about enhancing the financial enrichment of the existing banks; and
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at no time was there any discussion about the improved service the end consumer
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would be experiencing, or of the very competitive rates of interest on loans
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that new upstarts searching for business charge. But like the tightly regulated
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issuance of local Television Station licenses by the FCC, the Comptroller of
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the Currency is on a mission: To make sure that the owners of existing banks
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are very well fed, and so throwing Torts at the public is nothing they are
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going to concern themselves with. For a summary of the laws creating obstacles
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for new prospective banks to go into business, see the Editor's Notes called
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BANK CHARTERS, BRANCHING, HOLDING COMPANY AND MERGER LAWS: COMPETITION
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FRUSTRATED in 71 Yale Law Journal 592 (1962).
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=============================================================[634]</p>
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<p>The secondary consequences of restraining the number of new market entrants
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politically are elevated prices the end consumer winds up paying, constricted
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services and retarded technological innovations. [635]</p>
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<p>[635]============================================================= The
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telephone companies have exclusive geographical districts assigned to them with
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no competitors -- a pure monopoly; and if the FCC had not intervened to allow
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third party telephones and other equipment to be connected to local telephone
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company lines, you would never have been able to have automatic redialing on
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your phones -- such nice little effort savers are the result of competition,
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and not your local phone company, who could care less. Computers have been used
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extensively for telephone switching since the middle 1960's, and the continuing
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refusal of the phone company to assign a few byte locations in their computer's
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memory to remember your last dialed number, occurred for just one reason: They
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have a monopoly, they have their enrichment pipeline set up, and they don't
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care about you at all [a relative statement that will be viewed as being
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excessively harsh by those who never bothered to give any thought to
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evaluating, comparatively, the service attitude manifested by businessmen in a
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competitive operating atmosphere, with those businessmen who don't need to
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concern themselves with competitive pressures.] Yes, MINIMALISM rules in all
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uncompetitive environments, Commercial and otherwise.
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