Biden FTC takes on the Bigs

Created
Mon, 02/10/2023 - 01:30
Updated
Mon, 02/10/2023 - 01:30
“Never Seen Anything Like It” It’s not clear if Matt Stoller’s brand has been tainted by his brief late-night association with Russell Brand a decade ago. Stoller has nonetheless plunged ahead with his blog, BIG, where he covers “the politics of monopoly power.” Stoller reports — will wonders never cease? — that federal enforcement actions against monopolies is on the upswing: Before the Biden administration, antitrust was mostly dead. It had picked up a bit under Trump, but mostly no one thought much about this area of law. And the reason was pretty simple. Nothing was happening. The FTC was using its authority to go after powerless actors, such as Uber drivers, church organists, bull semen traders, and ice skating teachers. The changeover has been absolutely stark, and it’s accelerating. Many of my sources in the competition policy world are giving me the same message, which is that this is the most extraordinary month they have ever seen in antitrust. There are the big fights, the cases against Google and Amazon, the suits against private equity and meat price-fixing. There is also smaller stuff, the behind-the-scenes institutional changes, like funding levels for antitrust enforcers and newly populist conservative nominees for regulatory agencies that could make a more assertive competition agenda part of a new bipartisan consensus. The rearguard opposition to change is immensely powerful, but the forces of the status quo are actually losing. What’s also fascinating is that public interest and attention is going up, and that it matters. Practitioners in antitrust used…