'A Gift to the Oligarchs': Trump Pick to Replace Lina Khan Vowed to End 'War on Mergers'
'A Gift to the Oligarchs': Trump Pick to Replace Lina Khan Vowed to End 'War on Mergers'
Andrew Ferguson, President-elect Donald Trump's pick to lead the Federal Trade Commission vowed in his pitch to lead the key agency that he would end current chair Lina Khan's "war on mergers."
Working class Trump voters must be forming a bit of shocked Pikachu faces that their favorite price gougers are gonna be merging.
I'm just kidding, this news won't reach Fox.
"Obama is forcing new conglomurate WalMart-Target to sell bread for 50 dollars a slice!"
Thanks Obama!
Denny's is now Denny's Applebee's Max
Of all the terrible things he'll do, this one was at least happening either way. Lina Khan was also on the shitlist of all the billionaires supporting Harris, with supposed "good billionaires" like Mark Cuban directly calling for her removal.
It was a nice 4 years of having a functional FTC, but it immediately scared the ruling class enough that it had no hope of survival.
Nothing I hate more than ppl claiming there are "good" billionaires. A good billionaire would spend all their money lobbying congress to stop billionaires from being a thing in general
War on mergers? What in the absolute fuck are they going on about? Our government has never been more friendly to mergers. We need to be breaking corporations up left right and center not approving more mergers.
These fuckers aren't going to be happy until there's just one mega corp that owns literally everything (including the government).
This is just straight up misinformation. Lina Khan's FTC was extremely hostile to large mergers, frequently suing to stop them, and that's a very good thing. They also were working on several large antitrust cases, including one that they won against Google. They are literally in the process of breaking up a monopoly as I write this.
All of that is going to get flushed down the fucking toilet now that the Republicans are back in. Good job America.
Welcome to Costco, i love you
These fuckers aren’t going to be happy until there’s just one mega corp that owns literally everything (including the government).
"We're calling the corporation: X"
But that means just one CEO....😎
Welcome to the BnL superstore. Axoim to be built at a later date
Think of the savings on lead costs! That alone is worth it.
Highlander, Inc. Where There Can Only be OneTM.
I get what you're saying, there's been way too much consolidation in way too many industries.
That said, there have been quite a few mergers that have been blocked in the last 4ish years or so, to my surprise and pleasure. Albertsons-Kroger is the recent big one that in the news. JetBlue + Spirit were also blocked, and so was Penguin Random House + Simon & Schuster. Apparently, UnitedHealth wanted to merge with another insurance company and that was blocked as well
Granted, it's worth remembering: any examples of things they don't like will always be blown out of proportion, by the right, and made to seem as though the sky is falling.
Found this quote, which seems legit, tho the website seems a bit sketchy.
This year, regulatory bodies, particularly the US Federal Trade Commission (FTC) and the Department of Justice (DOJ), have been actively scrutinizing merger deals to maintain market competition. Albertsons’ $25 billion merger with Kroger was halted, underscoring the FTC’s commitment to prevent monopolistic behaviors. Similarly, JetBlue and Spirit Airlines pulled back their $3.8 billion deal following a judicial decision highlighting anti-competitive issues. In the luxury sector, Tapestry’s attempt to acquire Capri was nixed by a court decision driven by an FTC lawsuit. Meanwhile, Avangrid’s acquisition of PNM Resources hit a dead end without regulatory approval, and UnitedHealth Group’s planned $3.3 billion takeover of Amedisys is facing DOJ lawsuits over competition concerns in home health services.
Source: https://finimize.com/content/regulators-put-brakes-on-major-merger-deals-in-2024
Yo, if anyone's interested, Hasanabi just posted a great video on YouTube interviewing Lina Kahn, the FTC commissioner. Very timely and relevant and super informative
The Albertson merger was just stopped
Oh, but just a few were blocked. Tooooo many!
It is a class war folks...
always has been.
🌎🧑🚀🔫(Luigi)
They're just inventing grievances now. It's so rare that any huge merger actually gets stopped, it's insane. We need more trust busting not less
It's not an invention, but a reframing of the class war.
The very tame attempts at more stringent anti-trust enforcement by the Biden administration already triggered them to no end.
Yo, if anyone's interested, Hasanabi just posted a great video on YouTube interviewing Lina Kahn, the FTC commissioner. Very timely and relevant and super informative
Edit: oops, accidentally replied twice
Here's the interview with Lina Khan and Hasan:
She's such a badass!
You'd think there'd be tons of memes crediting her with fixing the McDonald's ice cream machines since she helped make it so franchises can fix their own machines (i.e. right to repair)