Anti-Monopoly

March 05, 2024 | The Sling

Dylan Gyauch-Lewis

Op-Ed Anti-MonopolyFinancial Regulation

The Proposed Merger of Capital One and Discover Deserves Rigorous Scrutiny

Last month, Capital One announced that it plans to purchase Discover in a deal worth $35.3 billion. For their campaign to secure regulatory approval, Capital One is trying to act like a benevolent pro-consumer company that will use economies of scale to lower interest rates and ramp up competition with Visa and Mastercard. But that’s probably baloney. 

February 26, 2024

Andrea Beaty

Press Release Anti-MonopolyEthics in GovernmentTechTrade Policy

RELEASE: Wyden Unethically Champions Big Tech’s Anti-Regulatory Push Despite Wife’s Massive Investments In Apple, Microsoft, Amazon And Google

A new report this weekend revealed how the wife of Senator Ron Wyden (D-Ore.) has maintained significant financial ties to Big Tech companies even as the Senate Finance Committee Chairman is playing a leading role in Big Tech’s global push for deregulation.

January 31, 2024 | Revolving Door Project Newsletter

KJ Boyle

Newsletter Anti-MonopolyExecutive BranchIndependent AgenciesLaborRevolving Door

More Revolvers Join The Fight Against The Regulatory State

The regulatory authority of the executive branch is under attack, and BigLaw firms stacked with revolvers are on the front lines leading the assault. I’ve previously written about former FTC Commissioner Christine Varney challenging the legitimacy of her former employer on behalf of pharma company Illumina. Lawyers at Latham & Watkins, a firm stacked with revolvers from executive branch agencies, are before the Supreme Court challenging the Chevron Doctrine, which defers to executive agencies’ interpretations when legislative statutes are unclear. The Securities and Exchange Commission’s ability to hold administrative proceedings hangs in the balance as we await the Supreme Court’s decision in SEC v. Jarkesy, where the Fifth Circuit’s ruling decimated the agency’s authority. In a new attack, revolvers on the labor/management relations team at Morgan Lewis & Bockius have their sights set on the plutocrats’ latest target: the National Labor Relations Board.

January 26, 2024

KJ Boyle

Blog Post Anti-MonopolyFTCPharma

The FTC Ain’t Nothin to Mess With

The FTC has won its lawsuit against Martin Shkreli, the pharmaceutical executive infamous for jacking up the price of the antiparasitic drug Daraprim from $13.50 to $750 overnight in 2015 and later using his ill-gotten fortune to buy an exclusive Wu-Tang Clan album for $2 million. Shkreli is the quintessential corporate ghoul, having already racked up convictions for securities fraud—which resulted in an indefinite ban from the securities industries—and failure to pay $1.26 million in New York state taxes. Now, his price gouging has finally caught up with him, as the FTC successfully argued that he spearheaded an anti-competitive scheme to monopolize the drug. The presiding judge found Shkreli’s conduct to be “egregious, deliberate, repetitive, long-running, and ultimately dangerous,” issuing a $64.6 million fine and imposing a lifetime ban from the pharmaceutical industry. 

January 26, 2024 | The American Prospect

Timi Iwayemi

Op-Ed AccountingAnti-MonopolyEthics in GovernmentFinancial RegulationRevolving Door

Corporate Self-Oversight

Accounting’s technical jargon makes the industry obscure to most Americans. It’s likely your next-door neighbor has no idea of the PCAOB’s activities, its responsibility to protect investors, or its history of negligence. That’s expected, but chair Williams is now working to turn the ship around to fix the shortcomings of one of America’s most consequential oligopolies, and it will improve the economic lives of an unaware public.

October 26, 2023

Andrea Beaty

FOIA RequestPress Release

Anti-MonopolyDepartment of JusticeTech

RELEASE: Watchdog Group Requests Communications Between DOJ Officials And Google Defender Paul Weiss

Following news coverage that Yelp and the News/Media Alliance filed an unsuccessful motion to take BigLaw firm Paul Weiss off Google’s defense team in the adtech antitrust case brought by the DOJ, the Revolving Door Project submitted a Freedom of Information Act Request for communications between Paul Weiss and key Department of Justice officials. The American Prospect featured the request in their coverage of Google’s attempts to remove DOJ Antitrust Assistant Attorney General Jonathan Kanter from the case, as well as Paul Weiss’ potential conflicts.