I recently stumbled upon this YouTube video from “Fair Fight in the Marketplace.” This segment shows the real story of the Archer Daniels Midland (ADM) price-fixing case, the basis for the movie “The Informant!“, and includes excerpts from the actual FBI undercover footage of conspiracy meetings shot by Mark Whitacre, played by Matt Damon in the movie.
From the YouTube description: “Fair Fight in the Marketplace provides an engaging look at our antitrust laws that give protection to both American consumers and businesses. The half-hour program also considers a more fundamental question: can a set of regulations created by the Sherman Act at the end of the 19th century be relevant in todays era of digital technology and high-speed communications?
Hosted by NPR and Fox News commentator Mara Liasson, the program provides a short, colorful history of the antitrust laws in America and features three recent case studies.”
Much of the ADM conspiracy took place overseas. In related news, the recently convicted AU Optronics Corp. executive apparently intends to appeal his conviction on the basis that, among other things, the Sherman Act doesn’t reach the foreign activity at issue in his case. (Although he apparently will now file his appeal without former acting Solicitor General Neal Katyal. Katyal was previously the lead counsel for the Guantanamo Bay detainees in the Supreme Court case Hamdan v. Rumsfeld, which held that military commissions set up by the Bush administration to try detainees at Guantanamo Bay violate both the UCMJ and the four Geneva Conventions, so he probably would have had some interesting things to say about extraterritoriality.)