The Feds have been examining exclusive wireless carrier deals with handset makers---think AT&T and Apple---but the effort is a bit of a farce. Bernstein analyst Craig Moffett says it's laughable that the wireless industry is anticompetitive and the Feds don't have to worry about wrecking the wireless industry---Apple already has.
The argument in a research note is an entertaining read and prompts a few "hmm" moments. The biggest one comes when Moffett argues that the Federal Communications Commission and the Department of Justice are wasting its time reviewing the wireless market---especially AT&T. Why? Apple has taken any power that AT&T has. Sure, AT&T has an exclusive deal with Apple, but the iPhone maker owns the customer relationship and holds all the cards.