FTC chair Lina Khan on playing "anti-monopoly"
CBSN
Monopoly is the game where you bankrupt competitors, buying up the board and charging sky-high prices. But in Washington, Lina Khan is playing a different game: Anti-Monopoly. "The experience is not quite akin to playing a board game, but there are challenges and unpredictable swerves," said Khan, chair of the Federal Trade Commission.
And she has rolled the dice, with one buzzy lawsuit after another, going after Big Tech (suing Microsoft to block its proposed $69 billion acquisition of Activision), Big Pharma (suing to block Amgen's $27.8 billion deal to acquire Horizon Therapeutics), even Big Grocery (suing to stop a proposed $25 billion deal between Kroger and Albertsons, the largest grocery store merger in U.S. history).
The FTC is an independent watchdog and warden of competition in business. "When you have companies that are not disciplined by competition, oftentimes they can get away with abusing their customers; firms can become too big to care," said Khan. "There can be this basic indignity of being a consumer in America today. And that's what the FTC's trying to fix."
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