American Government sues Hachette and others

[EndOfTheEarth]

http://money.cnn.com/2012/04/11/technology/apple-doj-ebooks/index.h...

If you weren't quite sure that Hachette was a bunch of money-hungry (insert swear word of your choice here), this settles it. Apparently they and a few others (HarperCollins, Penguin, and two others) ganged up with Apple and Amazon in an attempt to fix prices for e-books.

In the United States, we have an Antitrust policy, which is designed people from doing just that, because we know, economically, if one group controls the entire market for a resource, then it becomes a monopoly and they can squeeze buyers for every penny they own. The government claims that they squeezed tens of millions of redundant dollars out of buyers already.

So yeah, your tax money at work.

[nathan_p]

That's amazing.

[EndOfTheEarth]

Update: The whole thing is settled, and Hachette and the others are guaranteed to lose money out of the deal.

http://money.cnn.com/2012/09/06/technology/ebook-settlement/index.html