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Spectrum Auction Gives Billions to Billionaires

I magine you own a house that stands in the way of a huge interstate highway that the government desperately wants to build. If you are an ordinary citizen, the government will use eminent domain to seize your land, because otherwise you might block the highway’s development and use your leverage to bargain for a huge premium over your property’s worth. Now imagine you’re a powerful special interest—say, a TV broadcasting company—that also has something that the government wants.
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