A new digital regulatory agency is a TERRIBLE idea for many different reasons. First, there are no boundaries. Everything is digital these days. Second, the FTC and DOJ didn't lack jurisdiction, they just didn't act. Why would a new digital agency not repeat that?
Dodd-Frank was a failure, but liberals bought into it because we got a regulatory agency, the Consumer Financial Protection Bureau. The CFPB was mostly useless, then Trump shut the CFPB down with a shrug.
https://twitter.com/matthewstoller/status/1314616397536858115
The way to address structural problems on Wall Street is to *break up the big banks,* not by regulating them. The same thing is true with big tech. The solution for things that are too big is to make them smaller.
One good class action attorney with easier pleading standards on antitrust would be 100 times better on enforcement than a new shitty regulator.
It's private lawyers taking on Apple over app store abuse, it's class action lawyers going after Varsity's abuse in cheerleading. Etc.
It's private lawyers taking on Apple over app store abuse, it's class action lawyers going after Varsity's abuse in cheerleading. Etc.
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