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GFPN Headlines

VENTURA & GOP: ANTI-TRUST LAWS ABOLISHED

Sept. 16, 2011: Washington, DC (S. Rysemus)


In a landmark move, President Ventura today abolished the Sherman Antitrust Act of 1890. In addition, the Clayton Act, the Federal Trade Commission Acts of 1914, the Robinson-Patman Price Discrimination Act of 1936, and the Celler-Kefauver Anti-Merger Act of 1950 were all overturned. With the stroke of his pen, Ventura has rescinded all antitrust laws on Federal books. This action has opened the gates which prevented large corporations from gobbling up smaller companies.

Ralph Nader advocates criticized this action both verbally and through the courts. Their key argument was that without the restrictions provided by these acts, monopolies could be created in all the major business sectors. Without such protection, it becomes virtually impossible for the small businessman to compete. Other consumer groups argued that this move would only result in higher prices across the board. In addition, human rights groups have argued that this may result in a dramatic decrease in jobs due to consolidations.

There was a distinct bipartisan tone to the ceremony attended by the House Speaker, JC Watts, R. - Oklahoma, and Sen. Peter Fitzgerald, R. -Illinois, chief senate sponsor of the legislation.

"This is a historic day," Watts told the audience. "This act will increase research and opportunity. By some estimates, this legislation may produce over 1.2 million new jobs," Watts said.

Fitzgerald told Ventura that the overturning of these acts was "like a gun going off in the California gold rush. It will start an explosion of new research, and consolidation in America. Businesses will grow, as will the economy."

Supporters say this legislation will spur billions of dollars of investments in new technologies and products. The number of mergers will prevent companies from the worry of competition. The resulting decreased overhead should increase profitability in all sectors.
This legislation, which Congress and the president have been trying to pass since 2009, was approved last Thursday. By rescinding the Sherman Act, barriers large corporations have faced in the past will be broken down, allowing them to expand their markets. This abolishment will remove the restraints on monopolization and attempts to monopolize, price discrimination, exclusive dealing and tying arrangements, mergers, and inter locking directorates.

GFPN sources have reported that UltraTech's CEO, John Delancey, was the main supporter of this legislation. It was further alleged that along with Delancey, the CEO's of Boss Foods, and Associated Canister had also made substantial donations to Ventura, and several key Congressmen to insure the passing of the legislation.