NY Post - By Rich Lowry - May 29, 2009
THE interlocking directorate is anathema to trustbusters and corporate watchdogs. It occurs when a board member or top executive of one company sits on the board of another company, accumulating undue power over a given industry. When it reduces competition, the arrangement is forbidden by the Clayton Antitrust Act of 1914.
If Henry De Lamar Clayton, the Alabama congressman who introduced the aforementioned act, were still with us, he'd presumably be shocked at the creation of the most far-reaching interlocking directorate in US history.
Obama, Inc. has effectively won a seat on the board of companies at the heart of the nation's industrial production and its financial system. The robber barons of old would marvel at the tentacles of influence of Barack Obama, a CEO whose power would overawe J.P. Morgan (the famous industrialist, not the bailed-out bank). (read more...)
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