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O'Melveny's Parker Quoted in The Deal Pipeline on Antitrust EnforcementJanuary 15, 2013
O'Melveny & Myers LLP partner Richard Parker is quoted in the January 4, 2013, issue of The Deal Pipeline in an article on antitrust enforcement that highlights a recent American Bar Association (ABA) panel discussion. Parker chairs O'Melveny's Antitrust and Competition Practice and resides in the Firm's Washington, DC office.
Given the current economic environment, some antitrust enforcement critics have called for an ease to merger rules. But many antitrust specialists warn against that. At a recent ABA Antitrust Section meeting, at which Parker was a panelist, Parker said, "It is not the job of the DOJ and the FTC to trot around the countryside looking for optimal economic outcomes. They are law enforcement agencies and charged with enforcing a series of statutes that mandate competition as national policy. That does not change when the economy goes south." The article also notes how Parker questioned whether or not allowing questionable mergers carries any short-term benefits using the relaxed antitrust rules during the Great Depression as an example. Parker noted a study that concluded that the relaxed merger rules lengthened the Great Depression by about seven years.