House Lawmakers Condemn Big Tech’s ‘Monopoly Power’

[Bob Riebe]

The New York Times logo    House Lawmakers Condemn Big Tech’s ‘Monopoly Power’
 
WASHINGTON — House lawmakers who spent the last 15 months investigating the practices of the world’s largest technology companies said on Tuesday that Amazon, Apple, Facebook and Google had exercised and abused their monopoly power and called for the most sweeping set of changes to antitrust laws in half a century.
In a 449-page report that was presented by the House Judiciary Committee’s Democratic leadership, lawmakers said the four companies had turned from “scrappy” start-ups into “the kinds of monopolies we last saw in the era of oil barons and railroad tycoons.” The lawmakers said the companies had abused their dominant positions, setting and often dictating prices and rules for commerce, search, advertising, social networking and publishing.
 
In a 449-page report that was presented by the House Judiciary Committee’s Democratic leadership, lawmakers said the four companies had turned from “scrappy” start-ups into “the kinds of monopolies we last saw in the era of oil barons and railroad tycoons.” The lawmakers said the companies had abused their dominant positions, setting and often dictating prices and rules for commerce, search, advertising, social networking and publishing.

To amend the inequities, the lawmakers recommended restoring competition by restructuring many of the companies, emboldening the agencies that police market concentration and throwing up hurdles for the companies to acquire start-ups. They also proposed reforming antitrust laws, in the biggest potential shift since the Hart-Scott-Rodino Act of 1976 created stronger reviews of big mergers


http://www.msn.com/en-us/money/companies/house-lawmakers-condemn-big-techs-monopoly-power/ar-BB19Lu46?li=BBnb7Kz&ocid=HPCOMMDHP15

[geezerbiker]

It's funny to see the liberals eating their own...  Perhaps the tech companies got behind on their kick back payments.


Tony

[Bob Riebe]

The liberal often babble about the Russian Oligarchies , well big tech is the U.S. of A's oligarchies.