According to data released this week, Samsung and Apple make up the majority of the top 20 global smartphone models sold in the first quarter of 2014. While that success demonstrates the robust market prowess of these smartphone manufacturers, the real winners are the customers, getting more services, better products and lower prices. Almost the exact opposite happens when companies resort to lawsuits to gain market advantage, a sort of rent seeking via the courts.
Like Captain Renault in the 1942 movie Casablanca, I am “shocked… shocked” to find that gambling has been going on in the mortgage-backed securities business. And so, apparently, is the[...]