Trustbuster Lina Khan has been villainized by corporations but appreciated by consumers in America. Lesley Stahl discusses inflation, mergers, and the economy with Federal Trade Commission Chair Lina Khan.
Conservatives that support her work have even dubbed themselves as “Khan-servatives” for the way the FTC is tackling potential abuse by corporations. The FTC has gone after Big Pharma for abusing the patent system employing methods that extend the patents of popular drugs and tech companies for monopolizing the industry.
After 40 years of mergers and diminishing results, The Biden Administration moved the Federal Trade policy away from unchecked corporate mergers. “We saw over 800 acquisitions by the five big players, not a single one of which was blocked… some of those we realized ended up leading to significant harm just to give.” FTC Chair Khan then cites an example using privacy standards and the Facebook WhatsApp merger.
