When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Tuesday, February 12, 2013

The Revolving Door: Jon Leibowitz Resigns as FTC Chairman

Goodbye and good riddance--this is the guy who wasted almost 2 years and millions of taxpayer funds on a meritless case against Google search, hiring expensive outside counsel for that matter (what a sweetheart Washington insider contract!), and the result? 5-0: no action against Google. A complete waste of time and resources.

But as always, his tenure wasn't a complete failure (how could it be with the FTC super-sized staffing and budget?); here's an excerpt from the New York Times--

Jon Leibowitz Resigns as F.T.C. Chairman - NYTimes.com: "Other Democrats, including some consumer advocates, were less generous in their assessment, although none of them wanted to speak on the record. They noted, however, a few areas where the F.T.C. did not block merger actions, including a $2 billion proposal to join the Universal Music Group and EMI, two large record labels. Last year, the commission also approved the $29 billion merger of two of the nation’s largest pharmacy-benefit managers, Express Scripts and Medco Health Solutions. If only because it was his last big effort, however, the Google case is likely to be the one that is foremost in people’s minds over the next few years. Mr. Leibowitz sought the case, winning a cordial but tense battle with the Justice Department’s antitrust division over the right to investigate Google’s search practices."


The Big Picture

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