Why exchange owned clearing houses are the best model.
When I was a first-year law student, my grades were
insufficient to qualify me for a slot on the Yale Law Journal.
Happily, the Journal admitted one additional individual through
a writing contest and I won.
My article was about a judicial opinion in the case of
United States v. Jerrold Electronics, a fledgling cable TV
provider that required subscribers to buy a service and repair
contract as well. In antitrust parlance, this was a "tie-in"
where a customer could not buy what he or she wanted (here,
cable TV) without purchasing something else as well (in this
case, a service contract).
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