For Immediate Release: March 19, 2020

Press Contact: Robyn Shapiro, rshapiro@economicliberties.us, 201-819-2526

CONGRESS MUST PREVENT PANDEMIC PROFITEERS

Washington, D.C. – As economic chaos caused by the coronavirus pandemic threatens to unleash an acquisition free-for-all by dominant corporations and predatory finance, the American Economic Liberties Project today released the following statement encouraging Congress to halt the Federal Trade Commission’s automatic approval of mergers and acquisitions after a 30-day notification period expires:

“The coronavirus pandemic is national emergency that is not only threatening public health and the economy, but also severely restricting the government’s ability to see to its everyday responsibilities. Congress needs to step in to stop the merger shot clock that automatically blesses mergers and acquisitions unless the Federal Trade Commission objects within 30 days. Anything less is a slap in the face to the business community, which is already in crisis,” said Economic Liberties Executive Director Sarah Miller. “Even better, Congress should institute a moratorium on all mergers not vital to our national interests so that the Federal Trade Commission can prioritize using its resources to police the inevitable wave of predatory and abusive behavior,” said Miller.

Read the New York Times profile on Sarah Miller and Economic Liberties here.      

Learn more about Economic Liberties here.  

###

Economic Liberties works to ensure America’s system of commerce is structured to advance, rather than undermine, economic liberty, fair commerce, and a secure, inclusive democracy. AELP believes true economic liberty means entrepreneurs and businesses large and small succeed on the merits of their ideas and hard work; commerce empowers consumers, workers, farmers, and engineers instead of subjecting them to discrimination and abuse from financiers and monopolists; foreign trade arrangements support domestic security and democracy; and wealth is broadly distributed to support equitable political power.