Democrats and Republicans have joined together to support antitrust charges leveled against Facebook Wednesday, December 9, by the Federal Trade Commission and an alliance of attorneys general from 48 states, a move that seeks to break up the company and reverse previously approved acquisitions of Instagram and WhatsApp.
Sen. Bernie Sanders (Independent – Vermont) applauded the effort, writing on Twitter that Facebook’s “greed knows no bounds, and they’ve used their power to try and control too much of political and economic life all over the world… the only thing that will stop Facebook is to say ‘enough is enough’ and break it up.”
Rep. Alexandria Ocasio-Cortez (Democrat – New York) concurred, describing the social media giant as “an out-of-control monopoly” that has “abused its market power to squash competition, manipulate democracies, and crush journalism.”
Colorado Republican Ken Buck, a member of the House judiciary committee, said that Facebook “crushed the competition by breaking the law” and wrote on Twitter that “Big Tech’s reckoning has just begun.”
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI