Sen. Mike Lee giving the keynote at @FedSoc event on Bork’s Antitrust Paradox
The House antitrust package “are not antitrust laws at all but thinly veiled attempts to regulate vast swaths of the economy.”
The Biden FTC is “inexperienced and ideological,” he says and “lacking in understanding of the businesses they seek to control.”
Lee: “the law deals with conduct not status. We punish people for what they do, not who they are. ‘Big is bad’ abandons that fundamental principle” in American law
Lee maintains that the consumer welfare standard can deal with non-price effects. Anti-monopolists move to abandon the consumer welfare standard is a “Trojan horse for woke social policy.” They want to get rid of antitrust and move to regulation, he says
Bork warned about relying too much on economics in antitrust. But Lee notes that modern antitrust enforcement has become “obsessed” with this overemphasis on economics. “They allow theory to Trump facts”
This “fetishization of economics” has led to a dilution of antitrust enforcement, Lee says. He says he agrees with those on the left that “the status quo is no longer tenable” in antitrust and we’ve had an over correction since Bork
Lee says the left doesn’t want to to break up Big Tech to protect people but control Big Tech. They want to transfer control from the companies to government bureaucrats
But conservatives can’t just do nothing, Lee says. Plugs his TEAM Act to combat monopolies. It would eliminate the FTC role in antitrust. Lee says the Catholic Church can’t have two popes and the US can’t have two agencies
It would codify the consumer welfare standard. Increase DOJ antitrust funding. Tighten the standards for merger review, Lee says

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More from @leah_nylen

15 Sep
. @JusticeATR statement on FTC rescinding the vertical merger guidelines: "The Department of Justice is conducting a careful review of the Horizontal Merger Guidelines and the Vertical Merger Guidelines to ensure they are appropriately skeptical of harmful mergers. /1
"Both documents are designed to provide increased transparency and guidance to the public on how the department makes law enforcement decisions. The department’s review has already identified several aspects of the guidelines that deserve close scrutiny... /2
"and we will work closely with the FTC to update them as appropriate. The department continues to collaborate with the FTC on a robust public engagement process to seek comment on ways the Vertical Merger Guidelines could be improved. /3
Read 11 tweets
15 Sep
Onward. FTC's Open Meeting starts in 25 mins with a new health app privacy statement, rescinding the VMGs and a peek at the little deals by Big Tech.…
FTC Chair Lina Khan says some digital health apps "play fast and loose" with user's data.
Read 66 tweets
14 Sep
Associate AG Vanita Gupta (DOJ no. 3) gave the keynote today at Georgetown #antitrust. Nothing super newsy in her remarks, but Gupta sought to reframe discussions about antitrust as economic justice
"Robust antitrust enforcement is critically important for advancing economic justice," she said.
"Too often, powerful companies exploit consumers and tilt the playing field in favor of the already powerful. But everyone deserves to benefit from a free, fair and competitive economy."
Read 7 tweets
13 Sep
The National Association of Realtors has filed a petition to force @JusticeATR to go through on the settlement it reached last year to resolve the antitrust suit against the group.
“By its action, the DOJ thinks it should be free to reconsider the terms of an agreement at any time, for any reason – or no reason at all,” NAR President Charlie Oppler said.
The Trump DOJ reached a settlement agreement with NAR last year. The settlement required a public comment period and court approval…
Read 5 tweets
13 Sep
Confirmed. White House will nominate Georgetown's Alvaro Bedoya to the third D seat on the FTC. He will replace Rohit Chopra, who was nominated to head of the CFPB.
Back to this news, if Bedoya is confirmed, the FTC will be comprised of three former Senate Judiciary staffers -- Slaughter (Schumer), Phillips (Cornyn), Bedoya (Franken) and a House Judiciary staffer (Khan).
Read 4 tweets
10 Sep
New 🧵on Epic decision. YGR makes some interesting factual determination that may be contested on appeal.
First that is from some of the sealed economic testimony. A very large share of Apple's app store revenue comes from mobile game transactions.
Read 11 tweets

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