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TOO BIG TO COMPETE?

The US government’s coronavirus bailout is raising monopoly fears

AP Photo/Andrew Harnik
Congressional oversight.
  • Tim Fernholz
By Tim Fernholz

Senior reporter

As the US government works to rescue the economy from the coronavirus pandemic, watchdogs are keeping a wary eye on how those actions may change it over the long term.

“This money is going to have an enormous affect on the economy not just this month, but for years and years to come,” says Bharat Ramamurti, a former adviser to senator Elizabeth Warren and one of the five members of the Congressional Oversight Commission who will act as public watchdogs for the money.

Unlike the 2008 financial crisis, when the primary concern was rescuing banks that played a role in creating the problem in the first place, the concern today is making sure large corporations don’t unduly profit from the aid intended to keep people at work, and that they don’t use the rescue funds to drive smaller competitors out of business.

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