Word: antitrust
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There is one more obstacle in Big Steel's way. The Antitrust Division might turn down any deal, on the grounds that Big Steel is big enough already. For the same reason, there are many Westerners who would rather see Geneva operated by someone else. But Big Steel's offer gave them the first concrete reason to hope that Geneva would be operated, somehow...
Under these circumstances, the Council concluded: attempts to use the antitrust laws to reform foreign industries (as Attorney General Biddle has been trying to do) would penalize only those firms subject to U.S. laws and jeopardize the U.S. position in postwar international trade...
...clip any anti-trust laws. U.S. companies could still be prosecuted if they failed to drop agreements which the State Department frowned on. And the State Department could revoke its approval of an agreement, any time it wanted. But U.S. corporations and businessmen would no longer be harried by antitrust laws, as they sometimes are now: they could not be indicted, under any "new" interpretation of the antitrust laws, for something they thought was perfectly legal at the time they...
...Manhattan, he brought antitrust charges against famed De Beers Consolidated Mines Ltd., its diamond-selling subsidiary, Diamond Trading Co. Ltd., Belgium's "Diamang" and "Forminiere," world's biggest diamond miners, and five other British, Belgian and Portuguese companies. Together they supply 95% of the world's diamonds...
...bill would also suspend prosecution under the Sherman Antitrust Act until June 1, 1947 and the Clayton Act until Jan. 1, 1948. Thus, insurance men would have ample time to change rate practices which, Attorney General Francis Biddle contends, violate these laws. If the bill becomes law, Biddle is expected to drop the criminal antitrust charges against 27 insurance bigwigs which touched off the battle...