MONOPOLY: Lock & Key

After poking its head into the board rooms of thousands of corporations in the U.S., the Federal Trade Commission last week reported that it didn't like what it had seen. Said FTC: "Interlocking relationships among the directors of the 1,000 largest U.S. manufacturing corporations constitute a threat to competition." What was even more alarming, FTC Chairman James M. Mead told a House Judiciary subcommittee, was that there were ways to interlock that Congress had not covered when it passed the Clayton Anti-Trust Act. The law, he said, "can be so easily evaded as to be scarcely worth enforcing."

FTC found that...

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