calbear93 said:dajo9 said:As is typical, you are ignorant of history and seem to believe the world began with your career. Change is coming regardless of your lamentations.calbear93 said:dajo9 said:calbear93 said:Genocide Joe said:I wasn't selling you on the tweet as being objective. Here's some info on the author.calbear93 said:Not sure we can trust these tweets as objective.Genocide Joe said:A different perspective. I readily admit that I don't know much about the mechanics of anti-trust other than that we've been going in the wrong direction on anti-trust for decades.calbear93 said:
You are not anywhere near corporate development, are you?
Only someone who has no practical experience or has never ever worked on an M&A execution either on the business side or in the legal side would make this kind of statement.
Banks, investors, lawyers, and corporate development leaders who are liberal and conservative are universal in thinking Lina Khan has been a disaster. More losses in the courts in the history of the FTC, proposing to dictate on a national basis without authorization from congress on non-compete clauses, and proposing to turn a simple HSR filing into a pseudo, second review process without the actual man-power to do so, and destroying value by wasting even more money on extra lawyer fees, government workers, etc.
This is what I mean by people here having no clue but acting like they know. A simple discussion with actual practitioners, including those who are liberal, on how bad the FTC has been under this administration from an actual practical perspective would have provided you with some actual insight. Both liberals and conservatives I know who actually know what they are talking about think the FTC has been a disaster under Biden, and they will keep losing in the courts (including under judges appointed by Obama). As bad as Gensler has been, at least he is starting to realize that dictatorship by unelected agency is not going to fly under our constitution.
If Khan and Gensler had gone in wanting to be faithful to their granted authority instead of trying to be what folks claim they are afraid Trump will be - a dictator - they could have made a real difference. They could have, for the SEC, protected investors, and, for the FTC, protected consumer welfare. But what will happen is that, as a result of their overreach, the courts will further narrow the scope of all these agencies (as the SEC has witnessed, with now their gun-shy efforts on climate-related disclosure delayed once again and their share repurchase rules basically killed by the courts) so that both Gensler and Khan would have made both these agencies permanently that much weaker once they are done. Great job.
Counting down to you making some glib, non-substantive name-calling insult that disguises how little you actually know about this stuff.Breaking: Google lost a case brought by Epic Games as a jury found the search giant had created an antitrust market with its app store https://t.co/xN0IddPHKg https://t.co/xN0IddPHKg
— The Wall Street Journal (@WSJ) December 12, 2023A former big law attorney writes a piece attacking the anti-monopoly movement as a failure the day after Google just lost its first major antitrust case. Does he mention it? Nope! Instead it's just pure gossip from anonymous big tech lawyers. https://t.co/mMo7HsghPE
— Matt Stoller (@matthewstoller) December 14, 2023
Matt Stoller is a Fellow at the Open Markets Institute. Previously, he was a Senior Policy Advisor and Budget Analyst to the Senate Budget Committee. He also worked in the US House of Representatives on financial services policy, including Dodd-Frank, the Federal Reserve, and the foreclosure crisis. He has written for The New York Times, The Washington Post, The New Republic, Vice, and Salon. He lives in Washington, DC. Goliath is his first book.
https://www.amazon.com/Goliath-100-Year-Between-Monopoly-Democracy/dp/1501183087
So while you are never slow to tout your own resume when discussing these subjects, don't think that it makes your perspective the only valid one. And unlike dajo, I don't pretend to hold expertise I don't have.
In this case however, two things may be true at the same time. Khan may be in over her skis to be running the FTC as a 30-something academic with no experience running a large organization, but that doesn't mean that too much power isn't concentrated in two few large companies.Too much market power for any one company, regardless of what the prices are, is a bad thing. A big thing that led to the disastrous decisions in the bank bailouts were that these institutions were "too big to fail." Know how you keep something from being too big to fail? Don't let it get that big in the first place. And whether that's an appropriate function for the FTC or not, the government can always create a new law or agency to act in whatever it deems the public interest, provided of course that the government gives a damn about the public interest which it certainly doesn't right now.Quote:
And not sure what we mean by going in the wrong direction for anti-trust. From a consumer perspective, prices, until Biden, have been steady and consumers had, if anything, too many options.
Yogi, although you and I probably disagree on most things, I don't like when people here play mean girls with you. And i have rarely participated. That's because I believe, unlike many here, you state what you really believe. And I respect that.
I don't necessarily disagree with you here. But big tech is different from big banks that were too big to fail since our economic and financial system is entirely dependent on credibility of the banks. There is no longer a gold standard. It's all based on trust. But tech is different. If you pull up my posts from six years ago, you know my biggest issue with big tech isn't their liberal or conservative tilt or their size It's their algorithms, data mining, AI, and automation that create mind warp for profit. They take small interest of normal people and turn that into extremism and create and feed the destructive ignorance bred from little bit of truth. And then they pretend they are liberal and doing good over some greenwashing bull**** on ESG. I made a crap load of money from tech companies but, having seen from the inside, I also know how unintentionally evil they are.
My issue with Biden's appointments for the FTC and SEC are not their policies. It is the dictatorship nature of the leaders Biden appointed with disregard for the constitution and separation of power, and lack of practicality and destruction of assets that could be better spent instead of holy crusade with no achievement. Want to influence allocation of capital? Good. Let the elected legislative body do it. Want to push for climate protection? So do I. But who the hell elected wonky Gensler in the SEC when we actually elected members of congress? Want to take down big tech? Good, but who elected some wonky 30 year old true believer teacher without practical experience to crusade under the guise of FTC leadership? Do you want Trump, when he wins, to appoint a new SEC leader and force companies not to fund ESG causes under the guise of investor protection? Do you want Trump to appoint some far right wacko to head Homeland Security and force states to reject actual election results under the guise of national security? These power grabs by unelected agencies who already have too much unchecked power are dangerous. And liberals think these breaking of norms is good since they have power. But the norms, once broken, will remain broken and will come back to bite them twice as hard. And no one will care when they cry just like no one cared when filibuster was destroyed for federal judges by the liberals and the liberals then cried foul that Republicans did the same for Supreme Court justice appointment. There is stupid "Trump the dictator" propaganda by the left when they cheer their own party's power grab through administrative law and then cry foul that the Supreme Court is appropriately checking the agency power with the help of West Virginia, as the EPA learned.
We all should be afraid of people like Gensler and Khan who break norms under the narcissistic fallacy that they have been appointed as gods to do good, because the other side will then carry on those new norms, and either the original authority they had to do good will be gone or someone else will use the same breaking of norms and the same power grab to do something really bad. Stupid people are always cheering for expedient measures because they have never played chess and cannot even see the next play, much less three steps in the future.
This write-up ignores the history of anti-trust in America. Anti-trust has reshaped itself many times. From a historical perspective, Calbear93 isn't really against changing norms in anti-trust - he just believes the last changing of norms from Reagan should be permanent. Or that the norms he was successful with in his career, should be unchanged.
This Harvard Business Review article has a good write-up of how anti-trust norms have changed over time. None of it led to dictatorship.
https://hbr.org/2017/12/the-rise-fall-and-rebirth-of-the-u-s-antitrust-movement#:~:text=Antitrust%2C%20observed%20the%20historian%2C%20once,but%20without%20any%20antitrust%20movement.
Trying to act like you know what you are talking about but completely missing the point as always. Read that and still missed that the whole point was about separation of power and breaking norms on authority granted under administrative law. Clueless.
Sit this one out junior. You too are over your skis on this.
Junior, you are having an imaginary conversation no one else is having. We are talking about administrative law. No one other than you is even arguing or stating anything about the history of anti-trust law, but if we were, anyone here would know more than you. If you want to talk about administrative law that we have been discussing, we will wait until you find an article whose heading you have read to act like you are an expert. Until then, run along.
You made an argument that is ignorant of history. Since history completely rejects your argument you pretend it doesn't exist and keep your narrow focus because that's where you feel safe. The real world doesn't operate that way. Adding elitist commentary like junior or Kitsap Karen doesn't strengthen your argument. It weakens it. Nothing wrong with Kitsap despite your elitist condescension.
https://www.threads.net/@jtate181/post/C07Gb09rWBr/?igshid=NTc4MTIwNjQ2YQ==