US:FTC nominee, Simons, focuses on bang for tax buck & tech

President Donald Trump’s pick to lead the Federal Trade Commission (FTC) told the Senate Commerce Committee Wednesday, February 14, that he’s open to investigating big tech firms like Facebook and Google, should they use their power inappropriately.reported the Washington Post.

During a confirmation hearing before the Senate Commerce Committee, Joseph Simons, a corporate antitrust lawyer and the president’s choice to lead the FTC, said he would prioritize consumer protection issues “where harm is the greatest,” that would garner the “biggest bang for taxpayer dollar.”

“Oftentimes companies get big because they are successful with the consumer, they offer a good service at a low price. And that’s a good thing, and we don’t want to interfere with that,” Simons said when asked on his views of antitrust concerns in Silicon Valley. “On the other hand, companies that are already big and influential can sometimes use inappropriate means, anticompetitive means to get big or to stay big. And if that’s the case then we should be vigorously enforcing the antitrust laws.”

The nominees were asked about a wide range of topics, from how they’d address antitrust concerns over big tech companies to protecting consumers in the wake of serious data breaches and whether they felt the FTC was equipped to police the internet.

Confirmation of the four nominees is expected to go through smoothly. Senate Commerce Committee Chairman Senator John Thune, a Republican from South Dakota, said he hoped to move the nominations quickly to the floor for a vote.

Full Content: Washington Post

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