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That shift in legal doctrine was profound, shaping how courts have applied antitrust law ever since. Khan’s ideas have challenged the closest thing to a sacred cow in antitrust law. The most ambitious of those never became law, but Khan’s role in the probe, which Cicilline described as “critical,” helped further raise her profile. Amazon and Meta have both pushed for Khan to recuse herself from matters involving the companies, questioning her objectivity. The US Federal Trade Commission sued Amazon.com Inc. in a long-anticipated antitrust case, accusing the e-commerce giant of monopolizing online marketplace services by degrading quality for shoppers and overcharging sellers.

Persons: Lina Khan, Khan, Stephanie Keith, ” Khan, “, Joe Biden, ”, William Kovacic, George W, Bush, Barry Lynn, Lynn, New America Foundation —, Obama, —, ” Lina Khan, Rong Xu, ” Lynn, it’s, ’ ”, Reagan, Robert Hockett, Khan’s, David Cicilline, Lina, ” Cicilline, Cicilline, Justin Tallis, Biden, Trump, Douglas Farrar, Gary Gensler, Tom Williams, Jonathan Kanter, Roe, Wade, Kevin Kiley, Meta, she’s, “ We’ve, they’re, Federal Trade Commission Lina Khan, Al Drago, Kathleen Bradish, Bradish, Christine Wilson, Wilson, Noah Phillips, Gabby Jones, NetChoice, Carl Szabo, “ It’s, ” Szabo, There’s, ” Kovacic Organizations: CNN, Federal Trade Commission, Amazon, FTC, Big, Microsoft, Meta, Bloomberg, Getty, Republican, White House, Williams College, New America Foundation, Washington Monthly, Yale Law, Washington Post, Cornell Law School, Big Tech, Rhode, Rhode Island Democratic, Apple, Facebook, Cambridge, Activision, SEC, Financial Services, General Government, Securities and Exchange Commission, Capitol, Justice Department, Epic Games, California Republican, Washington , D.C, American Antitrust Institute, GOP, US Federal Trade Commission, Amazon.com Inc Locations: Big Tech, Robbinsville , New Jersey, Washington, Larchmont , New York, Rhode Island, Washington ,, New York

☆ Why it's not that great that everyone is flocking to their online bank
▼ + stars: | 2023-06-03 | by ( Josée Rose | ) www.businessinsider.com time to read: +3 min

Smaller and regional banks are important for the US financial system. "Regional banks have a combination of regional knowledge and expertise that makes lending more efficient," C. Michael Zabel, a former executive at M&T, the Buffalo-based regional bank, told Dealbook in April. Broadly, regional banks are staring down two main headwinds. In the first quarter, Ally Financial and Goldman Sach's Marcus online bank saw them rise, while regional-bank powerhouses like US Bank, Truist Financial, and Citizens Financial saw deposits fall, according to The Wall Street Journal. The pressure on regional banks hasn't abated yet.

Persons: Goldman Sachs's Marcus, Wells, Michael Zabel, Dealbook, They're, Goldman Sach's Marcus, they've, Bankrate's, we'll, Robert Hockett Organizations: Morning, Citibank, bonanza, Bank, Truist, Citizens, Wall Street, Silicon Valley Bank, First, JPMorgan, Western Alliance ., Federal Deposit Insurance Corp, Fed, Bloomberg, Cornell University, CNN Locations: JPMorgan, Wells Fargo, Buffalo, Silicon, First Republic, PacWest, they're, Wall, San Francisco

☆ Why the US needs regional banks
▼ + stars: | 2023-05-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

But those mega-banks lack the dexterity and regional specialization that small businesses crave, which is partly why Corporate America and policy makers alike are worried about the continued turmoil among regional banks. In just two months, a spark of panic has turned into a conflagration that has put America’s regional banks on notice. All of those banks share a status in common as a “regional” or “sector-specific” lender. By definition, regional banks are more specialized and focused. Without raising the cap, Hockett argues, we risk letting the Wall Street banks gobble up their smaller competition when those regional lenders fail.

☆ What Happens if Joe Biden Legally Challenges the Debt Ceiling - The New York Times
▼ + stars: | 2023-05-09 | by ( Robert Hockett | ) www.nytimes.com time to read: +2 min

After all, the only real alternative for Mr. McCarthy would be to go to court and seek to enjoin the president’s decision to continue to pay obligations — legal obligations already legislatively incurred. The impact of going to court to argue for defaulting on the nation’s debt, let alone the political optics for Mr. McCarthy, would be very risky. But it’s hard to see this availing them of anything other than impotent spectacle, further cementing their public image as unserious, especially if the president formally repudiates the debt ceiling now or this month rather than waiting until June. But suppose the Republicans take the president to court nonetheless. The president’s multiple arguments would be compelling, and the markets, in any case, are already pricing in worries of this sort.

☆ Opinion: Vladimir Putin’s anxious time
▼ + stars: | 2023-05-07 | by ( Richard Galant | ) edition.cnn.com time to read: +15 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. He imagines a boy sitting “upon the high and giddy mast” of a ship tossed by wind and waves. “Uneasy lies the head that wears a crown,” concludes the king in Shakespeare’s play. Russia said that President Vladimir Putin was the intended target of a foiled Ukrainian drone attack on the Kremlin, an allegation Ukraine denied. The unfortunate monarch who was the last to own the original St. Edward’s Crown, King Charles I, was convicted of treason and beheaded on January 30, 1649.

☆ Banking crisis: Why markets are still freaking out about banks
▼ + stars: | 2023-05-04 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

Similarly, southeastern regional bank First Horizon was teetering, having scrapped a $13 billion merger with Canada’s TD bank. That market pessimism was echoed by Bill Ackman, the billionaire investor, who tweeted Thursday that regional banks broadly are in trouble. Without a miracle from DC, the outlook for regional banks is not great. There is so much pessimism percolating on Wall Street, smaller banks are going to get crushed. That means we can expect more bank failures, and more Wall Street panic, in the weeks and months ahead.

☆ Why First Republic Bank may not be the end of the crisis
▼ + stars: | 2023-05-01 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

New York CNN —After a six-week spiral, First Republic bank finally collapsed in the wee hours of Monday morning. Everyone on Wall Street appears to be drinking from the same punch bowl as Jamie Dimon, who framed the sale as a bookend to the crisis. To his mind, the sale just makes JPMorgan, already the nation’s largest bank, even bigger, and the power of the biggest Wall Street banks more concentrated. That idea got an extra boost on Monday, when the FDIC itself released a report advocating for an increase in the deposit insurance limit for business payment accounts. “You can think of federal deposit insurance as being a bit like nuclear weapons,” he said.

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