The Real Story on the Federal Trade Commission

Executive Summary

  • The FTC is a captured regulatory agency that pretends to look out for the public good while allowing enormous already established monopolies to acquire and merge.

Introduction

The FTC is described in the following quotation.

“Still, all of these choices were just procedural, they did not actually address the main problem with the FTC. And that is, the commission lacks credibility because no one on Wall Street or in the corporate world takes the FTC seriously as a law enforcement body. The FTC whiffed badly on Facebook and Google, but years before that, it did nothing during the run-up to the financial crisis, despite its authority over consumer protection in the financial space. The situation is so bad that Slaughter’s fellow commissioner Rohit Chopra told the Senate Commerce Committee today that “it’s become a right of passage for Silicon Valley companies to get an FTC consent decree,” and then violate it.”

Source: Matt Stoller

https://mattstoller.substack.com/p/is-biden-accidentally-giving-the/