GOVERNMENT: Whither Are We Bound?

In 114,000 well-chosen words—probably the longest court opinion ever written —Federal Judge Harold R. Medina last week told why he dismissed the antitrust case against 17 leading investment banking firms. The antitrust laws, he said, require proof of an agreement or conspiracy, something the Government attorneys had not shown. Wrote Medina: "The Sherman Act is not an open door through which any court or judge may pass at will in order to shape or mold the affairs of businessmen according to his own individual notions of sound economic policy . . . Unless there is some agreement, combination...

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