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Almost exactly a year ago, the Wall Street Journal warned that “U.S. Signals More Scrutiny of Mergers, Antitrust“. Just as President Obama had promised in his campaign, antitrust merger review was going to be a lot different from what we’d seen during the Bush Administration: The DOJ Antitrust Division and the FTC wouldn’t waste any time showing that there was a new cop on the beat. Except things haven’t quite worked out that way–not yet, anyway. The agencies have been busy: DOJ has continued its highly successful criminal prosecutions of price fixing and other hard-core antitrust violations, while the FTC has brought an ambitious case against Intel and is still pursuing longstanding agenda items like its campaign against some pharmaceutical patent infringement settlements.

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