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Bad monetary and fiscal policy, often designed by the IMF, is the real cause of global problems. The only explanation for why government leaders continue to follow these policies is that by blaming markets, they avoid blaming themselves.-- Brian S. Wesbury February 06, 2003The Antitrust RacketCheck out this blog from initium: In 1977, Congress passed the Hart-Scott-Rodino Act, a law intended to make life easier for FTC and Antitrust Division officials in deciding which mergers to prosecute and stop. Under HSR, all mergers worth at least a certain value (approximately $50 million under the current law) must be reported to the government prior to consummation. This “pre-merger notification” grants the government a waiting period to decide whether they wish to act against the merger. In most cases, the waiting period is terminated early, and no official action is taken. In a handful of cases-less than 2%-the FTC or Antitrust Division will seek conditions to allow the merger or attempt to stop it outright. Such official action generally results in a “consent agreement,” where the merging companies agree to surrender a portion of their assets to a third-party chosen by the government. Posted by David at February 6, 2003 01:23 AM | TrackBack
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