Tuesday, September 20, 2011

Antitrust piece

Maybe this isn't quite economics, but it gives an alternative and somewhat scary perspective on antitrust law:

http://www.ft.com/intl/cms/s/0/1d923292-e0b9-11e0-947a-00144feabdc0.html#axzz1Y6zwotOC

US authorities are using a little-known immigration provision to secure guilty pleas by foreign businessmen in antitrust cases, a move defence lawyers say unfairly presses non-US executives into co-operating with investigations.

The tactic is likely to be brought to bear in the ongoing US and UK investigation into alleged collusion in the setting of the London and Tokyo interbank markets, which has ensnared US, European and Japanese banks and their employees. No individuals have been charged with any wrongdoing.

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