PUBLIC POLICY
Banking is one area where Bobby Kennedy's trustbusters have found the going rough. Legal interpretation has prevented them from blocking bank mergers that the U.S. Comptroller of Currency has approved and over the years comptrollers have been reason ably permissive about mergers, partly to compensate for the fact that banks are strictly regulated by federal and state agencies. Last week the U.S. Supreme Court, which has been a vigorous trustbuster lately, opened the banks to Bobby. It ruled that the Justice Department may bring unlimited suits against banks under the Clayton Act's broadly worded and controversial Section Seven,...
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