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Nobody ,

There aren’t many parallels for similar acquisitions in the financial industry, meaning that the Capital One-Discover deal will likely have broad implications for merger activity within the sector, said Schiff.

The billionaires are circling the wagons. Centralize all power and wealth. Squeeze every last bit of “value” out of the people.

Endless billion dollar mergers to consolidate more and more power.

return2ozma OP ,
@return2ozma@lemmy.world avatar

Did you see this?

Magnificent 7 profits now exceed almost every country in the world. Should we be worried?

cnbc.com/…/magnificent-7-profits-now-exceed-almos…

ABCDE ,

Repost

GardenVarietyAnxiety ,

Helpful

treadful ,
@treadful@lemmy.zip avatar

God damn it. I have zero interest in doing business with CaptitalOne ever again.

Where’s our antitrust laws, anyway?

Chriswild ,

Because antitrust is bad for the stock market and politicians are heavily invested in the stock market.

treadful ,
@treadful@lemmy.zip avatar

But I was told competition was good for the market.

Alto ,
@Alto@kbin.social avatar

Competition is good for everybody but those that have a stake in the companies doing the consolidating. Of course, the people who have said stakes would include basically every single lawmaker.

If you ask me, the only investments that lawmakers should be able to make is into a fund that only returns at a rate that the average wage in the nation increases. Any extra goes into funding social services.

pdxfed ,

Not average wage, Minimum wage increases. If it’s good enough for their constituents, it’s good enough for them. Same for their taxpayer-funded healthcare. Time to shop on an exchange boys!

ares35 ,
@ares35@kbin.social avatar

but not the stock market.

Raiderkev ,

They might actually stop this one too. It’s not approved yet. They just shut down spirit/ JetBlue merger.

Tronn4 ,

What’s in your wallet?

treadful ,
@treadful@lemmy.zip avatar

https://media1.tenor.com/m/2aCcUYbpouAAAAAC/family-guy-peter-griffin.gif

rbos ,
@rbos@lemmy.ca avatar

I don’t get it, is this a Thing?

Tronn4 ,

It’s Capitol Ones tag line in their commercials.

Ranvier ,

It’s not for lack of trying on the federal trade commission’s part. Biden admin has been fighting tons of mergers and courts keep deciding against them. We need better anti trust laws (and better judges wouldn’t hurt too). They did manage to stop a few mergers at least, for instance against Lockheed Martin trying to acquire aerojet rocketdyne holdings, and Nvidia trying to acquire Arm, and the spirit jet blue merger. And they reopened their case against the Microsoft Activision merger after they violated their court agreements. I will be surprised if the FTC doesn’t sue over this purchase of Discover.

reuters.com/…/us-keeps-losing-antitrust-court-bat…

dugmeup ,

That is huge

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