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		dschobel on Sept 21, 2010 \| parent \| context \| favorite \| on: So A Blogger Walks Into A Bar… Why would VC firms meeting and agreeing to change terms for their clients in lock-step not be collusion whereas if the brick and mortar banks did, it would be? (and was: http://redtape.msnbc.com/2008/04/did-banks-collu.html)

j_baker on Sept 21, 2010 [–]

It turns out that banks are exempt from antitrust laws: http://en.wikipedia.org/wiki/United_States_antitrust_law#Exe...

dschobel on Sept 22, 2010 | [–]

You're referring to the Edge Act [1][2] and that only applies to US banks' foreign operations (their subsidiaries, to be specific).

It is still very much illegal for them to collude against US customers.

[1] http://en.wikipedia.org/wiki/Edge_Act

[2] http://www.answers.com/topic/edge-act-corporation

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