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.Criticism from the Left--Ralph Nader: The Obama GM plan looks like a raw deal. Obama endorser, center mush to left, The Economist cautions him not to "overreach" and kill capitalism--"America's dynamism". Well they might know, their country is slipping fast.
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 U.S. 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).
The economy is trying to recover, pretty much on its own, but the Obama administration's heavy hand, heavy debt, and heavy taxation to come is choking the life out of this country, undermining trust in the rule of law. (another nominee in trouble) We are the peons to Robber Baron Obama's Big Government.