Liberal Groups Urge Federal Reserve To Block Mergers Under Coronavirus Bailout
May 7, 2020 - Nine progressive organizations, led by the American Economic Liberties Project, sent a letter to Federal Reserve Chairman Jerome Powell urging him to block any company that receives rescue funding from engaging in merger activity.
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.
Unsanitized: The War on the Postal Service Continues
May 6, 2020 – The American Prospect dug into Economic Liberties’ latest Working Paper in a series on corporate power, “The Avoidable Tragedy of Low Hospital Capacity in New York City," which explains how New York City lost hospital bed capacity and outlines solutions to protect public health and well-being.
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.