Why don’t we pass a law that says when you borrow money to buy somebody else and cannibalize him, the interest payments on those loans are not deduct… - Lee Iacocca

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Why don’t we pass a law that says when you borrow money to buy somebody else and cannibalize him, the interest payments on those loans are not deductible? That would get the excesses out of the system pretty fast. Right now, if you want to buy up a competitor, generally you can’t. That would violate the antitrust laws. But if you want to buy a company that does something else entirely, that’s okay. Where’s the sense in that?