In school we learn that capitalism is the most efficient system known for allocating scarce resources, but real life has taught me that very few corporations agree with economists on this point. Take, for example, how a banking analyst reacts to the news that the credit card legislation that just gone into effect has led to credit card issuers competing more aggressively for customers with high credit scores:
The CARD Act is leading all issuers to the top of the credit food chain, and more competition is never a good thing in any industry, regardless of the product, but particularly in the relatively homogenized card space,
Make no mistake, what “competing more aggressively” means is offering lower interest rates and better benefits to customers. The takeaway here is that this is what corporations are after when they spend money on lobbying — reduced competition, and of course, reduced regulations. So here we have a policy that regulates the worst behavior of corporations and that has led directly to competition that benefits customers. This is exactly the sort of thing Republicans are against.