Does it really matter that the FTC lost its 13(b) authority? The FTC has been irrelevant for 30 years, ever since Tim Muris pioneered using that authority.
If Congress wants to act, it should make a private right of action to enforce the FTC Act.
@PharmaCheats
If Congress wants to act, it should make a private right of action to enforce the FTC Act.
@PharmaCheats
As @chopraftc notes, there are other things the FTC can do, like write rules or use dormant penalty authority.
https://twitter.com/chopraftc/status/1385250963888410633?s=19
Fundamentally, the FTC is not relevant to Wall Street or most actors in the economy because it hasn't actually held the powerful accountable for 30 years. Why should we care that the FTC just lost authority it started using at the time it became irrelevant?
I'm not opposed to Congress restoring 13B, but I would prefer (a) shutting down the Bureau of Economics (b) firing of senior staff and (c) a real top to bottom review to find out what other horrible messes the FTC caused similar to the Google 2012 corrupt fiasco.
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