Tag: FTC

Commentary: To Appease Environmentalists, the FTC Will Cripple U.S. Energy

RealClearWire
FTC Chair Lina Khan

In the movie The Perfect Storm, George Clooney and Mark Wahlberg are among the crew of a boat off the Northeast coast that is caught in the convergence of multiple powerful storms. The combination of tempests ultimately takes down the craft and its crew. We should all hope one of our nation’s most vital industries doesn’t succumb in similar fashion as it is caught in a perfect storm of ideological rigidity, bureaucratic arrogance, and regulatory overreach.

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Commentary: Giving the FTC More Power Won’t Keep Kids Safe Online

Virginia Star Staff

We have seen a rise in parents concerned about social media’s impact on our children across Tennessee and America. As a proud parent and the chairman of Latinos for Tennessee, I firmly believe that parents must play a central role in ensuring the safety of our children online. I also firmly believe in states’ rights and that when it comes to enforcing legislation to protect our children, I trust Tennessee’s own Attorney General Jonathan Skrmetti much more than the bureaucrat-heavy Federal Trade Commission (FTC).

I have previously written that the well-being of future generations depends on our federal representatives taking appropriate action to protect children by empowering parents. This issue has become even more pressing as children increase their daily screen time. As a leader in the Latino community, I worry because, “Latino adolescents have a higher rate of social media use” and “face greater risks of experiencing adverse mental health outcomes,” according to the Julian Samora Research Institute at Michigan State University.

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Biden Asks Asian Countries to Release Oil Reserves as Administration Scrambles to Combat High Gas Prices: Report

Virginia Star Staff
Joe Biden

The Biden administration asked China, Japan, South Korea and India to tap into their emergency oil reserves as the president continues to grapple with rising gasoline prices, Reuters reported.

The effort to simultaneously release oil reserves represents a rebuke of the Organization of the Petroleum Exporting Countries (OPEC), the cartel that controls oil production throughout the Middle East, several anonymous sources familiar with the request told Reuters on Wednesday. OPEC has repeatedly rejected requests from President Joe Biden and other top administration officials to increase oil production amid rising gasoline prices.

The four Asian nations the president appealed to represent some of the largest energy consumers and greenhouse gas emitters, according to a University of Oxford database.

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Facebook Fined Nearly $70 Million After Ignoring UK Government Orders

Peter D'Abrosca

Facebook’s seemingly-unending stream of bad publicity continued this week, when it was fined nearly $70 million by the United Kingdom for what is being described as a deliberate lack of compliance into an anti-trust investigation. 

The UK’s Competition and Markets Authority (CMA) has been investigating Facebook’s acquisition of Giphy for nearly a year, and ordered the company to produce information “required information related to an initial enforcement order (IEO) placed on it by the watchdog, despite repeated requests for it to do so,” according to TechCrunch. 

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U.S. Files New Complaint Against Facebook over Monopoly Concerns

Virginia Star Staff

The U.S. government amended its antitrust complaint against Facebook on Thursday, bolstering allegations that the tech company illegally maintained a monopoly.

The amended complaint follows the Federal Trade Commission’s (FTC) dismissed December 2020 complaint which failed to adequately prove the tech giant’s monopoly in the “Personal Social Networking Services” market.

The FTC alleges that Facebook illegally acquired competitors WhatsApp and Instagram in order to stifle competition, maintaining monopoly power by preventing competitors from operating on Facebook software.

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Commentary: The Federal Trade Commission Shouldn’t Be a Lawless Agency

RealClearWire

The Federal Trade Commission has been on the march.  Over the past month, the Commission has held two “open” meetings, rescinded two major bipartisan agreements by party-line vote, and positioned itself to write regulations for the first time in decades.

In the words of a former commissioner, the current FTC is “Icarus flying without the constraints of history, economics, or law.”  He predicts that its “regulatory overreach…will end with the FTC’s wings melting in the courts.”

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Facebook Files Petition Demanding FTC Chair Lina Khan Recuse Herself From Antitrust Case

Virginia Star Staff
Lina Khan Facebook Headquarters

Facebook filed a petition Wednesday asking for Federal Trade Commission (FTC) Chair Lina Khan to recuse herself from the FTC’s antitrust case against the company.

The tech giant argued in the petition that Khan’s public statements, in which she suggested Facebook’s conduct constituted an antitrust offense, violated the company’s due process rights.

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Amazon Demands Recusal of Federal Trade Commission Chair from Any Antitrust Investigations

Virginia Star Staff
Federal Trade Commission

Tech giant Amazon recently demanded that the chairwoman of the Federal Trade Commission be recused from any antitrust investigations into the company, according to the Daily Caller.

Amazon filed the petition with the FTC on Wednesday, accusing Chairwoman Lina Khan of being biased due to the fact that she “has, on numerous occasions, argued that Amazon is guilty of antitrust violations and should be broken up.” The petition continued by declaring that “these statements convey to any reasonable observer the clear impression that she has already made up her mind about many material facts relevant to Amazon’s antitrust culpability as well as about the ultimate issue of culpability itself.”

The FTC is already conducting several antitrust investigations, including against Amazon; their most recent efforts are focusing on Amazon’s possible acquisition of the film studio Metro Goldwyn Mayer (MGM), a purchase of nearly $9 billion announced last month.

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ANALYSIS: DOJ Investigators Involved in Antitrust Probe Don’t Appear to be Scrutinizing Claims of Bias in Google’s Search

Virginia Star Staff

by Peter Hasson and Chris White   Department of Justice investigators who are conducting an antitrust probe targeting Google do not appear to be scrutinizing claims that the tech giant manipulates its search function, leaks about the probe and a source familiar with it indicate. Google critics argue that Google…

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Seven Steps Next Director Can Take to Make the Consumer Financial Protection Bureau Less Awful

Admin
Kathy Kraninger

by Norbert Michel   The Trump administration has nominated Kathy Kraninger to be the next director of the Consumer Financial Protection Bureau, and Roll Call reports that her confirmation hearing was “as politically contentious as it’s gotten in the last year and a half” on the otherwise “senatorial Senate Banking Committee.” Ignore the…

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