DoJ brief in telecommunications case might help bankcard interchange defense

Implications: The DoJ amicus brief to the Supreme Court in a telecommunications case hints at a more relaxed view about the applicability of antitrust law to pricing decisions by regulated companies.  A key accusation in the bankcard interchange cases is that competing regulated banks on Visa & MasterCard's boards fixed the interchange fee and thereby harmed competion in violation of the law.  The DoJ recently took the argument in its brief a step further by proposing new antitrust guidelines that similarly relax traditional doctrines governing tie-ins, market power, illegal competition practices, monopilization, pricing, etc.

Analysis: Bottom line, if the DoJ is motivated enough to support Pacific Bell in an antitrust case on a difficult pricing matter, can it be depended on to similarly support the defendant banks in the interchange cases?  Its new guidelines suggest that possibility.  Then again, the elections in November could result in new managers at the DoJ.  Whether that will make a difference is key to the positions of the merchants and bankcard issuers.  Tens of billions are at stake for each side.