"the informal understanding that happens between owners and very senior executives of mutually trading businesses is much harder to pin down."
But it has to be pinned down to avoid cartels. I sometimes think that the people on the ground (voters, taxpayers) always know first if there is such a scheme going on but no one at the TOP of the cake ever sees it and then a little notice goes in the paper 'Oh dear someone has noticed a cartel'.
Stinks doesn't it? Some call it the sceptic isle - what a shame the island is beautiful, especially on a day like today.