Economic Liberties Launches New Website and Welcomes Nine New Members to its Team
May 12, 2020 - The American Economic Liberties Project, which launched in February to advance a growing, cross-ideological movement to combat monopolies and the systems that entrench their power, today launched a new website and welcomed nine new members to its team: Pat Garafolo, Denise Hearn, Leah Hunt Hendrix, Laleh Ispahani, Nia Johnson, Robyn Shapiro, Maureen Tkacik, Lori Wallach, and Kate Yeager.
25+ National & State Orgs Urge Congress to Pass the Pandemic Anti-Monopoly Act
May 8, 2020 - As large corporations and predatory financiers seek to exploit the global pandemic and further concentrate their economic and political power, 27 national and state organizations today sent a letter to Speaker Nancy Pelosi and Minority Leader Chuck Schumer, urging them to include the Pandemic Anti-Monopoly Act in the next COVID-19 relief package.
The Federal Reserve Must Not Finance a Merger Wave
May 7, 2020 - With dominant corporations and predatory financiers strengthened by the CARES Act and better positioned to buy up businesses in distress, nine groups today sent a letter to Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin urging them to freeze all mergers and acquisitions activity by otherwise viable corporations as a condition for use of the Federal Reserve and Treasury’s emergency credit programs.
AbbVie-Allergan Merger Will Raise Costs, Reduce Innovation, and Prolong Drug Shortages
May 6, 2020 - The American Economic Liberties Project released the following statement in response to the Federal Trade Commission’s (FTC) announcement yesterday that it recklessy approved pharmaceutical company AbbVie’s $63 billion acquisition of Allergan in a 3-2 vote with Commissioners Chopra and Slaughter dissenting.
On the Federal Reserve’s Bailout of Boeing: “Boeing is now a state-backed entity.”
May 1, 2020 - The American Economic Liberties Project released the following statement in response to Boeing’s announcement that the company had issued $25 billion in investment-grade bonds, which Moody’s reported are backed by the Federal Reserve.