Should Congress OK China Purchase of Unocal?
Big acquisitions are overseen by the Congress. There are two centuries of legal precedent and good reason for this kind of commercial power mitigation. In the US, people are suppose to be protected from the government and thus its powers are limited, as well as the wealthy citizens that may abuse their influence. One method of doing this is monopoly legislation and corporate oversight by the Congress.
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Submitted by jasonn on July 1, 2005 - 3:56pm.