US regulators accused of overstepping authority: The Financial Times (again) ran this story about idiot congressman Billy Tauzin accusing US regulators examining America Online's proposed $127bn merger with Time Warner of overstepping their legal authority. It is always so frightening when people who know nothing of economics voice opinions on things economic in nature. Now I suppose I have to put my money where my mouth is and find a good article talking about why this sort of regulation is necessary.