In the corporate takeovers of the 1980s, the reagan Administration was a wallflower at the orgy. Free-market philosophy discouraged government from interfering in corporate combinations. Capital Cities lapped up ABC. R.J. Reynolds gulped Nabisco. Under George Bush the outlook shifted a bit, but when understaffed government lawyers went to court, they mostly lost. Anne Bingaman, Bill Clinton's chief of antitrust, roared into work promising a different world. As a warning shot she got Congress to fund 61 new antitrust attorneys. At a Washington conference a few weeks ago, she gave the word once again to companies that try to corner their...
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