David Dayen

David Dayen is a contributing writer to Salon.com who also writes for The InterceptThe New Republic, and The Fiscal Times. His first book, Chain of Title, about three ordinary Americans who uncover Wall Street's foreclosure fraud, was released by The New Press on May 17, 2016.

Recent Articles

The Rehabilitation of Antitrust

Time to overturn the revolution wrought by Robert Bork. We need antitrust more than ever.

AP Photo/Alan Diaz, File
AP Photo/Alan Diaz, File An AT&T logo at a store in Hialeah, Florida L ast week, the Senate Judiciary Committee’s antitrust subcommittee held an extraordinary hearing , challenging an entrenched consensus that has dominated for nearly four decades. Lawmakers and panelists didn’t debate a new law but the interpretation of a century-old one. And in the process, they revealed something about how corruption works in our key institutions. It’s not solely about self-enrichment or looting the treasury on behalf of donors. It’s about closing off debate, building a wall around critical decisions so only they and their friends get to weigh in. This cloistered, pinched, incestuous establishment went on trial last week, and it didn’t fare well. The hearing concerned the “ consumer welfare standard ” for antitrust law, a concept conjured up by Robert Bork and his pals at the University of Chicago in the 1970s. Under this standard, mergers are judged under the Sherman and Clayton Acts based...

Single Payer? How About a Profit-Driven Single Provider?

The CVS-Aetna merger creates a price-setting behemoth for medications.

AP Photo/Mark Lennihan
AP Photo/Mark Lennihan, File A CVS Pharmacy in Brooklyn, New York L eftists have long desired a single-payer health-care system. The way concentration is going in the health-care industry, they may just get it, in the worst possible manner. On Sunday, CVS announced they would purchase Aetna in a $69 billion deal. This doesn’t just join one of the nation’s three largest pharmacies with one of the five big health insurers. CVS also owns Caremark, one of the three giant pharmacy benefit manager (PBM) middlemen that manage prescription drug benefits for health plans. I see some health economists talking themselves into this deal becoming a positive development for consumers. Don’t bet on it. This gives one company a mountain of inside information on its competition: all of their prescription drug usages, favored methods of delivery, and pricing data. A pharmacy/PBM tie-up, as happened when CVS bought Caremark, already has created an extreme information advantage; integrating an insurer...

How Republicans Imperil Their Own Tax Cuts

Their House and Senate budget resolutions are miles apart—which endangers reconciliation, which endangers tax cuts, which endangers what’s left of the GOP agenda.

(AP Photo/J. Scott Applewhite)
(AP Photo/J. Scott Applewhite) Senate Majority Leader Mitch McConnell, flanked by Senators John Thune and John Cornyn, announces to reporters that the Senate is moving ahead on a Republican budget plan at the Capitol on October 17, 2017. A ny hope of a GOP legislative victory in this session of Congress has come down to a vote on the 2018 budget resolution. And despite the conventional wisdom, there’s no definitive path yet for Republicans to actually get that done. The respective chambers have cobbled together wildly different versions of the budget, mirroring the broad ideological differences within the party. Leaders express confidence that some compromise will be reached. But hard-right members, emboldened by the implosion of the GOP establishment, haven’t exactly warmed to compromise during the first nine months of this year. The budget resolution, mainly an aspirational framework for future funding appropriations that creates no new spending authority, is only important because...

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