1902—President Theodore Roosevelt is using the Sherman Antitrust Act to break up a major corporate entity, J.P. Morgan’s Northern Securities Trust, an effort that is “wholly incompatible with the spirit and intention of the law,” according to analysts for Historical Fox News.
The law, they point out, was clearly established to control job-killing trade unions, not job-creating corporations.
Since 1890, the Antitrust Act has successfully stopped labor unions from creating “labor monopolies” that hurt competition for their services. In New Orleans and other cities, the act has prevented workers from extorting such perks as 10-hour workdays and wages of more than $1.25 a day.
Courts have consistently ruled that extreme union activities—like workers meeting together, recruiting new members, or talking about striking—violated the antitrust act.
Perversely, say analysts, President Roosevelt has come to believe the act should be used to break up the corporate trusts that are the engines of American prosperity.
“The President talks about Morgan, Rockefeller and Carnegie as ‘robber barons,’ but these men are job-creating machines. Whether they’re building new factories or staffing their elegant estates, they’re all about putting labor to work to make America great again.”
Where Roosevelt’s efforts will lead, none can tell, but one thing is certain, say analysts: if Roosevelt has his way, there will be fewer jobs and the workers will suffer.
Disclaimer: In case you are a confused Fox News reader, please know this is a parody site that has nothing to do with the real Fox News, which started in 1996 and never covered any historical events before then. But if they had, America would already be great again.