The Capitol Forum

Can an AI Chatbot Be Responsible for Murder? (Second Request) Jun 26, 2026

What happens if an AI chatbot tells someone to kill someone else?

Tragically, this situation unfolded at a Florida school when a shooter asked ChatGPT for advice on how to conduct a school shooting. But do the creators of ChatGPT bear any responsibility? That's what Erie Meyer, former chief technology officer of the Consumer Financial Protection Bureau, thinks, and in this episode of Second Request she sits down with Arjun Singh to explain why.

The Surveillance Economy, Part Two (TCF Investigates) Jun 12, 2026

In the second episode of The Surveillance Economy, a mini-series from The Capitol Forum Investigates, Arjun Singh sits down with Andrew G. Ferguson, a law professor and expert in policing and technology, to discuss his new book Your Data, Will Be Used Against You: Policing in the Age of Self-Surveillance.

Together, the two discuss how law enforcement agencies use personal data from data brokers to create predictive policing programs, and the potential pitfalls of consumer data being handed over to law enforcement.

The Surveillance Economy, Part One (TCF Investigates) Jun 10, 2026

Corporations are spying on you — and you've given them permission to do it.

Every time we log on to a browser, open an app or share information with a business, that data is packaged and sold. This lucrative business, however, has turned consumer technology into a surveillance apparatus, and that information is being sold to governments around the world. In the first episode of a special two-part investigation on "The Capitol Forum Investigates," reporter Ethan Ehrenhaft tells the story of how a former cocaine smuggler taught the government how to surveil the public, and how states, including California, are trying to clamp down on the unchecked proliferation of personal data.

What Happens If the AI Bubble Bursts? (Second Request) Jun 05, 2026

Who will pick up the pieces if the AI hype fizzles?

Today on Second Request, Executive Editor Teddy Downey sits down with Matthew Scherer of the Open Markets Institute to discuss his recent report, "No Bailouts for Big Tech Billionaires: Policies for When the AI Bubble Bursts." Together, the two examine the massive debt fueling artificial intelligence spending and the role of private credit, shadow banking, and other opaque financing structures in AI markets.

The Future of Sports Streaming (Second Request) May 29, 2026

In 1961, Congress granted the NFL an antitrust exemption allowing the league to collectively negotiate broadcasting rights, revolutionizing sports broadcasting in America. Now, streaming companies like Amazon argue the law doesn't cover them, and that NFL teams can't collectively bargain with them for broadcasting rights.

Today on Second Request, Executive Editor Teddy Downey speaks with Katie Van Dyck, Senior Legal Fellow at the American Economic Liberties Project, to discuss her recent article, "How an Obscure Law Lets Sports Leagues Rob Fans Blind."

Who Runs the Skies? (Second Request) May 22, 2026

Will the budget airline die with Spirit Airlines? For decades, four major carriers have controlled most of the U.S. airline market — but the collapse of Spirit has renewed questions about the future of flying and what less competition means for airfare.

Today on Second Request, Executive Editor Teddy Downey sits down with Gene Burrus, founder of Burrus Competition Strategies, to talk about the state of competition and consolidation in the airline industry.

The Secret History of Forced Arbitration (Second Request) May 15, 2026

When you signed up for Disney+, you probably signed away your right to sue Disney. Most Americans have — buried in the terms and conditions of many apps is a legal clause called forced arbitration, and it's become corporate America's get-out-of-court-free card.

Today on Second Request, Executive Editor Teddy Downey sits down with Brendan Ballou — former special counsel in the DOJ's Antitrust Division and author of the new book When Companies Run the Courts: How Forced Arbitration Became America's Secret Justice System — to discuss the history and impact of forced arbitration in America.

The New A.I. Gatekeepers (Second Request) May 08, 2026

In this episode of Second Request, Executive Editor Teddy Downey sits down with Dr. Courtney Radsch to discuss her new paper examining content licensing relationships between publishers and artificial intelligence firms. Together, the two look at how A.I. companies utilize published information and the policy tools that could empower publishers to prevent A.I. firms from improperly using their material.

Ticketmaster's Extraction Engine (TCF Investigates) May 05, 2026

Is the Live Nation-Ticketmaster era finally over?

In a landmark verdict, a jury found that Live Nation-Ticketmaster operated an illegal monopoly — a conclusion that musicians, venue owners, and fans had been waiting years to hear. For decades, Ticketmaster held the concert industry in a stranglehold, leveraging its market dominance and even government resources to lock out any competition that dared to emerge.

Today on The Capitol Forum Investigates, reporters Krista Brown, Cole Cahill, and Rebecca Kern break down how Live Nation-Ticketmaster built the extraction engine that came to control live music — and what this verdict means for everyone who's ever bought a ticket.

Read Krista Brown's article about Ticketmaster in The American Prospect

What's the Beef With American Food? (Second Request) May 01, 2026

Why is Irish butter better than American? It's about consolidation.

Today on Second Request, Executive Editor Teddy Downey sits down with author and agricultural policy expert Austin Frerick to look at the state of consolidation in the American food industry, and emerging regulatory trends in the agricultural sector.

Lawless Antitrust (Second Request) Apr 24, 2026

In this episode of Second Request, Executive Editor Teddy Downey sits down with John Newman, an antitrust expert and professor at the University of Memphis, to discuss Newman's recent paper "Lawless Antitrust" and the how antitrust enforcement has deviated from statutory text.

Letting the Machine Decide: A.I. and Cognitive Surrender (Second Request) Apr 17, 2026

Humanity is outsourcing decision making to machines.

Today on Second Request, Executive Editor Teddy Downey sits down with Gideon Nave and Stephen Shaw, two researchers from the Wharton School of the University of Pennsylvania to discuss their recent research on the influence of artificial intelligence on human decision making.

Is the AI Boom About to Go Bust? (Second Request) Apr 10, 2026

Trillions in commitments. Billions in off-balance-sheet debt. Circular investments between vendors and their own customers. The AI infrastructure build-out looks less like a gold rush and more like a house of cards — and policymakers have no plan for when it falls.

Today on Second Request, executive editor Teddy Downey sits down with Asad Ramzanali, Director of AI and Technology Policy at the Vanderbilt Policy Accelerator, to discuss his paper "After the AI Crash" — and why the time to prepare for a financial crisis is before it happens.

A.I.'s Least Informed Users Think It's Magic (Second Request) Apr 03, 2026

Understanding A.I., it seems, is the fastest way to start doubting it.

Today on Second Request, we're re-sharing a conversation Executive Editor Teddy had with Chiara Longoni, Associate Professor of Marketing at Bocconi University, to discuss her research on AI literacy — and why people who understand AI less may actually trust it more.

Note: This conversation originally aired on Second Request on November 10, 2025.

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The Quiet Crisis Inside Your Insurance Policy (TCF Investigates) Apr 01, 2026

Your life insurance policy may be private equity's ticking financial time bomb.

In this episode of The Capitol Forum Investigates, reporter Lisa Epstein explains her recent investigation into sweeping changes in the life and annuities sector driven by private equity-owned insurers. Despite promising security to policyholders, many of these companies use complex financial structures to shift liabilities into offshore accounts — masking the true health of the policies millions depend on. Now, the recent collapse of a Connecticut-based life insurer has observers around the world asking whether the next global financial crisis is already being built from the inside.

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Corruption Enforcement Under Trump 2.0 (Second Request) Mar 27, 2026

In this episode of Second Request, Executive Editor Teddy Downey sits down with Brendan Ballou, founder of the Public Integrity Project, to examine corruption enforcement under the Trump administration. They also discuss the legal implications of Trump's presidential pardons, which have been criticized for benefitting allies and donors.

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Can This Bank Account Help You Buy a House? (Second Request) Mar 21, 2026

Affordability is the hottest word in politics, but how does it actually become a reality? One idea: home savings accounts to help new homebuyers compete in an inflated real estate market.

Today on Second Request, executive editor Teddy Downey sits down with Jon Schweppe, director of policy initiatives at the American Principles Project, to hear why he thinks home savings accounts could be a powerful tool to help bring down the cost of housing.

The Ticketmaster Lawsuit That Could've Been (Second Request) Mar 13, 2026

Today on Second Request, Executive Editor Teddy Downey is joined by Jonathan Kanter, the former Assistant Attorney General for the Antitrust Division of the Department of Justice from 2021 to 2024. Together, they unpack the evolving antitrust argument against Ticketmaster.

Editor’s note: This conversation was recorded before the Department of Justice announced a settlement with Ticketmaster on March 9, 2026.

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Warner Bros. and the 2026 Antitrust Outlook with Seth Bloom (Second Request) Mar 06, 2026

Today on Second Request, Executive Editor Teddy Downey sits down with Seth Bloom, President and Founder of Bloom Strategic Counsel, to unpack what would have been the antitrust implications of Netflix's potential acquisition of Warner Bros.

This conversation was recorded before Netflix announced they would be ending their bid for Warner Bros.

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The DOJ's Ambiguous Proposed Settlement with RealPage (Second Request) Feb 27, 2026

In November, the Department of Justice made headlines when they announced a settlement with the software company RealPage in the DOJ's lawsuit against the company for antitrust violations. But, some have questioned that strategy, especially with several state governments pursuing action against the company.

In this episode of Second Request, Executive Editor Teddy Downey unpacks the DOJ's settlement with David O. Fisher, Senior Counsel at the American Antitrust Institute, and the author of the recent commentary "Closing Costs, a Critical Examination of the DOJ's Proposed RealPage Settlement.”

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Xponential Fitness' Predatory Franchise Fiasco (TCF Investigates) Feb 25, 2026

When a Pittsburgh based business owner opened a franchise of one of Xponential Fitness' exercise brands, he had no idea it would end in bankruptcy, intimidation and threats of violence.

Today on The Capitol Forum Investigates, investigative correspondent Kim Geiger discusses her multi-year investigation into the company Xponential Fitness, and reveals how they lured franchise owners into a predatory relationship that led multiple franchisees to file for bankruptcy, and has made Xponential the target of multiple government probes and lawsuits.

The Memory Chip Cartel (Second Request) Feb 20, 2026

Today on Second Request, Executive Editor Teddy Downey sits down with Sacha Sloan a senior correspondent at The Capitol Forum to discuss Sacha's recent reporting on potential collusion in the microchip sector. Together they discuss how coordinated production cuts, reduced capital expenditures, and public signaling by major NAND manufacturers are contributing to a sharp supply crunch and record price increases.

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Will Roblox Survive its Day in Court? (TCF Investigates) Feb 13, 2026

2026 could make or break Roblox. That's because the multi-billion dollar children's video game company is mired in dozens of private lawsuits on top of multiple probes from several state governments, the FTC and the DOJ. In this episode of The Capitol Forum Investigates, reporter Ethan Ehrenhaft sits down with Arjun Singh to talk about the future of Roblox in the wake of major allegations of sexual exploitation and abuse on its platform.

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Airlines Know More About You Than You Think (TCF Investigates) Jan 30, 2026

Today on The Capitol Forum Investigates, correspondent Krista Brown discusses the use of artificial intelligence in airline pricing, and how it could potentially lead to personalized prices for plane tickets.

Aviation expert Bill McGee of the American Economic Liberties Project explains how consolidation in the airline sector has led to price gouging for passengers.
Noah Giansiracusa, author of the book Robin Hood Math: Take Control of the Algorithms That Control Your Life explains how companies can exploit personal user data without their knowledge to determine prices.

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The Case Against AirBnb (Second Request) Jan 16, 2026

Today on Second Request, Executive Editor Teddy Downey sits down with antitrust expert Hal Singer, who argues why AirBnb is violating antitrust laws, and how enforcement could address distortions in the housing and rental markets.

The conversation centers on Singer’s recent article, “The Antitrust Case Against Airbnb,” which analyzes how Airbnb’s “Smart Pricing” algorithm may facilitate price coordination among short-term rental hosts, the broader effects of short-term rental platforms on housing supply and rents, and the challenges regulators face in applying antitrust law to platform-based and AI-driven pricing models.

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How Financial Institutions Became Tools of U.S. Foreign Policy (Second Request) Jan 09, 2026

In today's episode of Second Request, Executive Editor Teddy Downey sits down with Graham Steele former former Assistant Secretary for Financial Institutions at the U.S. Department of the Treasury and current Academic Fellow at the Rock Center for Corporate Governance. They discuss Steele's recent paper Financial Statecraft and explore the role of financial institutions in American foreign policy, and the tradeoffs for regulation of those industries in the U.S.

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To read Graham Steele's paper Financial Statecraft click here.

How Amazon is Capturing Local Government Procurement (Second Request) Jan 02, 2026

Amazon has inked contracts with local governments, municipalities and school districts that often bypasses the traditional guardrails in the procurement process. In this episode of Second Request, The Capitol Forum's Executive Editor Teddy Downey sits down with Stacy Mitchell, co-director of the Institute for Local Self-Reliance about ISLR's recent report "Amazon’s Capture of Local Government Purchasing Is Driving Up Public Costs and Eliminating Competition."

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Read Stacy Mitchell's report here.

Zynex Fought The Capitol Forum and Ended Up Bankrupt (TCF Investigates) Dec 31, 2025

Zynex was a medical device company on the rise. After experiencing decades of growth, Zynex’s founder Thomas Sandgaard had hopes of becoming a billionaire — until The Capitol Forum revealed how they were fraudulently billing insurers, patients and even the U.S. government for tens of millions of dollars.

In this episode of The Capitol Forum Investigates, reporter Michael Williams reveals how Zynex misled customers into entering predatory financial arrangements. He also unpacks Sandgaard’s efforts to quash his reporting, including efforts to target Williams and his family.

American Electricity's Antitrust Dilemma Dec 26, 2025

In this episode of Second Request, Executive Editor Teddy Downey sits down with Michael Murray, Katherine Wyszkowski, and Daniel Hanley to discuss their recent research about the antitrust risk posed by U.S. electric utilities — especially as it relates to their control over consumer energy‑usage data, potential exclusionary conduct, and the broader consequences for competition, consumers, and market transparency.

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“Capital Crunch” and the U.S. Housing Supply Crisis (with Laurel Kilgour) Dec 19, 2025

For decades the amount of small homebuilders in the United States has been dwindling. One reason is the shuttering of local financial networks. Today on Second Request, Executive Editor Teddy Downey sits down with Laurel Kilgour Policy Director at the American Economic Liberties Project (AELP) to discuss the findings of Kilgour's recent report Capital Crunch: How the Fall of Local Finance and the Rise of Shareholder Primacy Warped Single-Family Homebuilding in America — And What to Do About It.

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Read Laurel Kilgour's paper here.

How the Meta Decision Changes Antitrust Enforcement Dec 12, 2025

After a federal judge rejected the Federal Trade Commission's argument that Meta has an illegal monopoly in the personal social media market, regulators are debating what the decision means for future enforcement of section 2 of the Sherman Antitrust Act. In this episode of Second Request, Teddy Downey discusses the Meta decision with Joel Thayer, President of the Digital Progress Institute.

Building the Bottlenecks: The Impact of Homebuilder Consolidation (with Steven Xiao and Zheng Liu) Dec 05, 2025

Why is it so expensive to build a house in America?

That's a question economists, politicians and pundits have argued at length about, but can't agree on. In today's episode of Second Request, executive editor Teddy Downey sits down with Steven Xiao, Associate Professor of Finance at the University of Texas at Dallas Naveen Jindal School of Management and Ph.D candidate Zheng Liu for a robust discussion about how concentration in the homebuilding sector has led to increased costs and prices.

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How the Soybean Became a Geopolitical Weapon Nov 21, 2025

Why are American soybean farmers so reliant on Chinese markets?

In this episode of Second Request, Teddy Downey sits down with Wall Street Journal reporter Patrick Thomas to discuss how soybeans became the center of a trade war between the U.S. and China. They also discuss how consolidation and monopolization in the food sector have impacted American farmers.

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Is Roblox Safe for Kids? Nov 18, 2025

How did a popular children's game become rife with sexual abuse?

In the debut episode of The Capitol Forum Investigates, technology and privacy reporter Ethan Ehrenhaft explains why the video game maker Roblox is mired in dozens of lawsuits related to child safety on their platform, and how an investigation from The Capitol Forum revealed the vast safety flaws on Roblox's platform, which several lawsuits argue enables sexual predators to easily abuse children.

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The Future of Antitrust Enforcement: A Conversation with Michael Kades & Adam Gitlin Nov 12, 2025

In this episode, Teddy Downey, Executive Editor of The Capitol Forumsits down with Michael Kades, Antitrust Partner at Nachawati Law Group and former Deputy Assistant Attorney General for the Antitrust Division at the U.S. Department of Justice, and Adam Gitlin, Chief of the Antitrust and Nonprofit Enforcement Section at the Office of the Attorney General for the District of Columbia.

Together, they will explore how state-level enforcers are shaping the next phase of antitrust policy and what their growing influence means for markets, consumers, and competition nationwide.

The Antitrust Case Against AI Overviews with Madhavi Singh Nov 10, 2025

In this episode, we’re joined by Mahdavi Singh Deputy Director of the Thurman Arnold Project and Resident Fellow at the Information Society Project at Yale Law School to discuss how Google's integration of A.I. overviews could extend its search monopoly and the legal arguments that it could violate antitrust law.

“Mars/Kellanova: EC Leaning Towards Clearing Deal, Sources Say” with Javier Espinoza Nov 10, 2025

In this episode, Europe Executive Editor Javier Espinoza sits down with Senior Editor Jeff Bliss to discuss his reporting on the European Commission's review of the proposed $36 billion merger between Mars and Kellanova.

U.S. v. Google Remedies with John Newman Nov 10, 2025

In this conversation, Professor John Newman, from the University of Memphis Cecil C. Humphreys School of Law, former FTC official and DOJ antitrust trial attorney, shares insights on Judge Amit Mehta’s decision, the specific measures imposed on Google, and what it signals for the future of Big Tech regulation.

Presidential Tariffs and Executive Power: Legal Challenges to the IEEPA Tariffs Nov 10, 2025

In this episode, Teddy Downey sits down with Kathleen Claussen, Professor of Law at Georgetown University, and Beth Baltzan Senior Advisor at The Capitol Forum and former Counselor for Trade and Investment to U.S. Trade Representative Katherine Tai, for a discussion on the legality of tariffs imposed by President Donald Trump under the International Emergency Economic Powers Act (IEEPA).

Lower Artificial Intelligence Literacy Predicts Greater AI Receptivity with Chiara Longoni Nov 10, 2025

How does understanding AI change the way we trust it?

In this interview with The Capitol Forum’s Executive Editor & CEO, Teddy Downey, Chiara Longoni, Associate Professor of Marketing at Bocconi University and co-author of “Lower Artificial Intelligence Literacy Predicts Greater AI Receptivity,” explains the methodology and surprising findings from her research on AI literacy.

Price Discrimination Laws—the Dormant Half of Our Antitrust Laws that Can Save Our Economy Aug 14, 2025

In this Capitol Forum podcast, Executive Editor Teddy Downey speaks with Catherine Simonsen—co-founder of the newly launched Simonson Susman LLP and former FTC antitrust enforcer—about the long-neglected Robinson-Patman Act.

Together, they dissect how underenforcement of price discrimination laws has contributed to excessive consolidation, economic rent extraction, and the quiet hollowing-out of American small businesses.

Simonson outlines legal strategies to revive these laws and challenge dominant “power buyers” like Walmart and Amazon, and explains how price discrimination distorts the supply chain from producer to pharmacy shelf. This is antitrust not as theory, but as practice.

How Courts Interpret Copyright in the Age of AI Aug 14, 2025

Generative AI is testing the limits of copyright law — and the courts are starting to weigh in.

Teddy Downey speaks with Keith Kupferschmid, CEO of the Copyright Alliance, about:

The legal stakes of AI training on copyrighted works

-Conflicting rulings in California courts

-How the Warhol decision could influence AI copyright cases

-The importance of a healthy licensing market

-What’s at risk for creators and the economy

📌 Subscribe for more policy and legal deep dives

Steris/Synergy a Decade Out: A Retrospective Assessment Aug 05, 2025

In this episode, Capitol Forum’s Nate Soderstrom sits down with Jeremy Sanford, partner at Econic Partners and former FTC economist, to discuss his new paper on the 2015 Steris/Synergy merger—a key potential competition case that was litigated but allowed to proceed.

Jeremy walks through:

Why the FTC brought the case

-The court’s reasoning in denying the injunction

-What we’ve learned from 10 years of post-merger evidence

-How this case fits into broader merger enforcement and guideline updates

📺 Subscribe for more analysis from The Capitol Forum

Trump’s Trade Letters and the August 1st Deadline Jul 31, 2025

In this wide-ranging conversation, Capitol Forum Executive Editor Teddy Downey sits down with Beth Baltzan — former Counselor to U.S. Trade Representative Katherine Tai — and Capitol Forum Trade Correspondent Neil Tracey to unpack the latest wave of Trump tariff threats.

We cover:

Why Trump is targeting an unusual mix of countries
How rare earths give China lasting leverage
Whether USMCA will actually be exempted
The growing influence of Big Tech on trade policy
Section 301 vs. Section 232: What tools Trump is using — and why
How global trust in the U.S. rule of law is eroding
What’s missing from a purely tariff-based industrial strategy
Why the global trading order may never be the same

Patenting and Pricing Eliquis, Ozempic, and Other Medicare-Targeted Drugs Jul 29, 2025

Teddy Downey, Executive Editor of The Capitol Forum, sits down with Tahir Amin, co-founder of I-MAK, to discuss the pharmaceutical industry’s misuse of the U.S. patent system—and what it costs American patients and taxpayers.

They dive into I-MAK’s new report, Overpatented, Overpriced, and explore:

How drugs like Eliquis and Ozempic are protected by dozens to hundreds of patents
The role of patent term extensions, follow-on patents, and settlement deals in delaying generic competition
How companies like Novo Nordisk and BMS generate tens of billions in additional revenue through strategic patenting
Why the Hatch-Waxman Act and USPTO are failing to protect patients and the public interest

Full report: https://www.i-mak.org/overpatented/

Proposed Breakups of Live Nation/Ticketmaster with Tommy Dorfman Jul 23, 2025

What happens when one company dominates every aspect of an industry—from venues and ticketing to artist access and local politics? In this in-depth interview, The Capitol Forum’s Teddy Downey speaks with Tommy Dorfman, former promoter and now CEO of Juice Entertainment, about his extraordinary 15-year legal battle against Live Nation and Ticketmaster.

Dorfman alleges that Live Nation used anti-competitive tactics—backed by its control of Ticketmaster—to force him out of the industry, block access to artists, and coerce state-run venues. His claims include:

Closed-door threats and pressure to enter a forced partnership

A nationwide pattern of leveraging rebates to inflate ticket prices

Control over municipal venues, artist touring, and even event security

As the U.S. Department of Justice pursues its own case against Live Nation, Dorfman makes a broader argument: that monopolistic control in the live events industry suppresses competition, stifles independent promoters, and ultimately harms artists and consumers alike.

A story of market power, legal resilience, and the changing economics of live music.

Google’s Role in Digital Advertising with Ari Paparo Jul 21, 2025

Ari Paparo has done it all in digital advertising—from DoubleClick and Google to founding Beeswax and covering the DOJ antitrust trial as an independent analyst.

In this conversation with Capitol Forum Executive Editor Teddy Downey, Ari shares his insider take on:

📌 Google’s ad tech dominance

📌 Why publishers lost control

📌 What the DOJ’s remedies get wrong

📌 The real reason Google is fighting so hard

📌 How ad markets could be reformed—and who might fill the vacuum

Ari walks us through the industry's tangled history and what it would take to create a truly open digital ad market.

Promoting AI Innovation Through Competition Jun 27, 2025

Promoting AI Innovation Through Competition

Who’s Really Shaping RFK Jr.’s Health Agenda? Inside the Maha Influencers Jun 20, 2025

In this Capitol Forum podcast, Executive Editor Teddy Downey is joined by Jeremy Furchtgott and Riley Kruse of Baron Public Affairs to unpack the Make America Healthy Again (MAHA) movement shaping RFK Jr.’s vision for Health and Human Services. Drawing from their rigorous influencer analytics and new report, they explore:

The shift from academic experts to social media influencers like Tucker Carlson and Russell Brand

Competing schools of thought inside Maha: Big Pharma vs. Big Food

How elite vs. populist divides shape policy priorities

The strange alliance between conservative “crunchy cons,” libertarians, and techno-optimists

What Maha says about vaccines, SNAP food policy, pharma ad bans, and the future of public health

🔗 Don’t miss this deep dive into the information ecosystem redefining conservative health policy, learn more here: https://thecapitolforum.com/resources/analyzing-maha-influencers-shaping-rfk-jr-s-hhs-agenda/

Textiles, Trade & National Security: A Conversation with Parkdale Mills COO Davis Warlick Jun 13, 2025

Textiles, Trade & National Security: A Conversation with Parkdale Mills COO Davis Warlick

What Abundance Gets Wrong Jun 11, 2025

Is "Abundance" the answer to our housing, energy, and pharma crises—or just neoliberalism in a new outfit?

In this in-depth conversation, Capital Forum’s Teddy Downey sits down with Sandeep Vaheesan of the Open Markets Institute to dissect "Abundance", the much-hyped book by Ezra Klein and Derek Thompson. Sandeep—legal director, historian, and author of Democracy and Power—offers a sweeping critique of the book’s policy proposals and ideological foundations.

We talk about:

📉 Why zoning reform won’t solve the housing crisis

⚡ The overlooked history of public investment in energy

💊 What Abundance misses about Big Pharma and price manipulation

💥 How the book rebrands 1990s-era neoliberalism for 2025

The Hidden Monopoly: How Healthcare Platforms Threaten Competition May 23, 2025

Jonathan Kanter (former DOJ Antitrust) and Martin Gaynor (Carnegie Mellon Professor and former FTC official) join The Capitol Forum to discuss their groundbreaking paper, The Rise of Healthcare Platforms. They explain how companies like UnitedHealth have evolved into sprawling conglomerates—combining insurer, provider, pharmacy, and PBM functions—and why this consolidation threatens both market competition and patient care.

Doha Mekki on Labor, Mergers, Monopolies and the New Antitrust Agenda Apr 08, 2025

Doha Mekki on Labor, Mergers, Monopolies and the New Antitrust Agenda

Hannah Garden-Monheit, Max Berengaut and Jonathan Kanter on Price Fixing, Algorithms, Antitrust, and Rising Prices Mar 29, 2025

In this podcast episode, experts Hannah Garden-Monheit, formerly at the FTC, Jonathan Kanter, and Max Barangau from The Capitol Forum dissect the complexities of antitrust policy, price fixing, and their impact on inflation. Garden-Monheit reflects on her journey from DOJ trial attorney to the FTC and White House NEC, highlighting challenges in revitalizing antitrust enforcement amid corporate skepticism. The panel scrutinizes controversial price-fixing cases, including algorithm-driven collusion in housing markets and egg pricing schemes, and explores how data-driven monopolization amplifies economic power. A compelling analysis for anyone interested in the crossroads of policy, economics, and technology.

Rebecca Slaughter, Katherine Tai and Jonathan Kanter on Getting Fired, Trade, and the Rule of Law Mar 26, 2025

In this special episode, former FTC Commissioner Rebecca Slaughter and former U.S. Trade Representative Katherine Tai talk to Teddy and former Assistant Attorney General Jonathan Kanter to discuss the recent upheaval at the FTC and its implications for market stability, antitrust enforcement, and the rule of law.

Slaughter describes being abruptly fired from her FTC position, highlighting that this dismissal violates legal protections that prohibit FTC commissioners' removal without cause. She emphasizes that this unprecedented action introduces significant legal uncertainty, potentially undermining ongoing critical FTC cases, such as the lawsuit against pharmaceutical benefit managers accused of inflating insulin prices, and cases involving major corporations like Amazon. This instability challenges market predictability and may affect the enforcement of antitrust laws, consumer protection, and market fairness.

Ambassador Tai reflects on the global perception of U.S. trade policy, particularly during the Trump administration, and stresses the importance of consistent policies for international trust and stability. Tai explains the complexity surrounding tariffs, underscoring the risks associated with unpredictability and disruptions in trade relationships with key partners like the EU, Canada, and Mexico. She points out that inconsistent U.S. actions erode its reputation as a reliable trading partner, thus pushing other nations to depend more heavily on China or each other.

Both express concern over current policy chaos in Washington, implications for the rule of law, and democratic stability. They highlight that market actors like Wall Street typically prefer predictability and clear rules, now compromised by this governmental instability.

We end with worries that politically driven decisions—such as Slaughter’s firing—provide advantages to large corporations, including Big Tech, undermining fair competition and accountability.

Jonathan Kanter & Rethinking Antitrust for the Modern Economy Mar 10, 2025

I talk to Jonathan Kanter who served as the Assistant Attorney General for the Antitrust Division of the U.S. Department of Justice from 2021 to 2024.

Kanter discusses his experiences at the FTC and DOJ, emphasizing the need for rigorous antitrust enforcement, especially as modern markets have evolved and become dominated by Big Tech.

He highlights the importance of confronting monopolies to protect economic fairness, innovation, democracy, and freedom, and explains how he prioritized impactful cases against major corporations like Google, Apple, Ticketmaster, and others.

Reflecting on his tenure, he stresses adapting antitrust laws to current market realities, warns about the dangers of economic concentration, and expresses the need for support for robust antitrust enforcement to maintain healthy competition and democracy.

Investor-Owned Utilities’ Excess Rates of Return with Mark Ellis Mar 10, 2025

Mark Ellis, an American Economic Liberties Project Senior Fellow, discusses his recent paper “Rate of Return Equals Cost of Capital.” In this episode of Second Request, he examines how and why investor-owned utility profit models diverted from their initial design, as well as how much excess returns cost American households.

UnitedHealth Group’s Vertical Consolidation with Hayden Rooke-Ley Mar 10, 2025

Hayden Rooke-Ley is a Health Law and Policy Fellow at the Brown University School of Public Health and a Senior Fellow at the American Economic Liberties Project. In this episode of Second Request, Hayden discusses vertical consolidation in health care markets, UnitedHealth Group’s outsized lead in this trend with Medicare Advantage, and the capitated payment model undergirding this shift.

Outlook for Congressional Competition Policy and Antitrust Enforcement During the Trump Administration with Slade Bond Mar 10, 2025

Slade Bond, Chair of Cuneo, Gilbert and LaDuca’s Public Policy and Legislative Affairs practice, discusses the evolving landscape of tech policy, discussing the legislative battles, political dynamics, and behind-the-scenes efforts shaping the future of regulation. Slade shares his insights on navigating Congress, the challenges of bipartisan cooperation, the influence of industry lobbying, and what it takes to push meaningful reforms forward.

Fair and Competitive Markets at the U.S. Department of Agriculture with Andy Green Feb 04, 2025

In this episode, former USDA Senior Advisor for Fair and Competitive Markets Andy Green discusses the Biden administration’s efforts to improve fairness in food markets and what the future may hold for the agency. Green reflects on key USDA rule-makings over the past few years, their impact on agriculture markets—particularly in seeds and poultry—and changes in enforcing the Packers and Stockyards Act. Green provides valuable insights into the agency’s progress and the steps he believes are necessary to strengthen competition in the food industry.

2025 Congressional Antitrust Outlook with Seth Bloom Feb 04, 2025

In this episode, Seth Bloom, President of Bloom Strategic Counsel and former General Counsel of the U.S. Senate Antitrust Subcommittee, discusses the congressional outlook on antitrust in 2025. With shifts in antitrust subcommittee leadership this term, he explores what these changes mean for competition policy, the legislative possibilities ahead, and what to expect from Republican-led antitrust efforts. Bloom offers key insights into how Congress may approach antitrust enforcement and reform in the coming year.

Vestager Pushes Back Against Calls to Ease EU Merger Rules Feb 03, 2025

In this special edition of Second Request, an exclusive interview with Margrethe Vestager, the former EU Antitrust Chief addressed concerns about a potential shift in U.S.- EU relations with the election of President Donald Trump.

The interview is the first of a regular podcast hosted by Capitol Forum’s new Europe Executive Editor Javier Espinoza that will include some of the biggest names in European policy. Mr. Espinoza, a leading voice in Brussels regulatory coverage, recently joined Capitol Forum after nearly a decade at the Financial Times.

Importance of the DOJ Live Nation Suit to Independent Venues with Stephen Parker Jan 30, 2025

In this episode, The Capitol Forum welcomes National Independent Venue Association Executive Director Stephen Parker to explore how the DOJ’s Sherman Act Section 2 suit against Live Nation Ticketmaster could reshape the live entertainment industry. Parker discusses the current state of the primary ticketing market, the potential impact of structural changes on venues and promoters, and what ideal remedies could look like if Live Nation is found guilty.

Mark Wetjen on Crypto Legislation in the Trump Administration Jan 02, 2025

This conversation on the future of crypto regulation under Trump's administration in 2025 reveals how proposed legislation could fundamentally reshape digital assets. Mark Wetjen, Partner at Dentons in their Federal Regulatory and Compliance Practice, looks at how the digital asset landscape may change, with particular focus on the roles of key regulators including the SEC, CFTC, and banking authorities. Wetjen also offers insights into how regulatory frameworks might impact competition among crypto exchanges and traditional financial institutions.

Ambassador Katherine Tai on U.S. Trade Policy in the Biden Administration Jan 02, 2025

U.S. Trade Representative Katherine Tai talks about the intersection of history, economic policy, and trade in this episode of Second Request. Ambassador Tai reflects on her role in shaping the Biden administration's economic approach, contrasting it with decades of trickle-down economics. She examines the historical roots of trade policy, lessons from FDR's legacy, and the challenges of balancing corporate influence with public interest.

Talking Big Tech, Antitrust, and Refusals to Deal with Daniel Hanley Nov 15, 2024

Daniel Hanley, Senior Legal Analyst at the Open Markets Institute, discusses his recent paper "Illuminating the Anti-Coercion Foundations of Refusals to Deal" and its implications.

Market Concentration in Food & Agriculture with Sarah Carden and Basel Musharbash Oct 24, 2024

Antitrust attorney Basel Musharbash and Farm Action’s Sarah Carden discuss a groundbreaking report on corporate control in American agriculture. Commissioned by Farm Action and written by Basel, ’Kings Over the Necessaries of Life' dives into the history of competition policy in agriculture, current market concentration levels, and strategies for restoring competition in this crucial sector.

The Hidden Costs of Electric Utility Monopoly Power with John Farrell Jul 01, 2024

Co-director of the Institute for Local Self-Reliance and director of the Energy Democracy Initiative, John Farrell, discusses his recent report on the 100-year-old business model granting private exclusive power over the public resource of electricity. Learn about the abuses that come from allowing private monopoly power to control electricity, including pollution-linked deaths, price-hiking, power-shutoffs for low-income families and other publicly borne burdens. The discussion also includes recommended structural reforms for restoring competition and equilibrium to the sector.

The Recent NAR Settlement and the Future of Residential Real Estate Jun 06, 2024

On this episode of Second Request, The Capitol Forum’s Teddy Downey speaks with CEO of REX, Jack Ryan, and RealClearMarkets Editor John Tamny about the recent settlement involving the National Association of Realtors (NAR) and its implications for the real estate industry and homeowners. Jack and John are the authors of a new book entitled Bringing Adam Smith into the American Home, which challenges the conventional wisdom surrounding homeownership and offers a compelling argument for reevaluating realtor commissions.

Antitrust Economics at a Time of Upheaval Jun 06, 2024

Hear the editors of the new book Antitrust Economics at a Time of Upheaval: Recent Competition Policy Cases on Two Continents discuss the recent resurgence and transformation in competition policy and economics in the US, the EU and the UK. Professors John Kwoka, Tommaso Valletti and Lawrence White talk to Capitol Forum Executive Editor Teddy Downey about some of the cases they see as “flashpoints” in the competition paradigm shift and explain the economic implications of recent enforcement actions.

Jason Kint on the US vs. Google Antitrust Trial Jun 06, 2024

CEO of Digital Content Next, Jason Kint, offers his analysis of the recently concluded Google trial proceedings. As one of the foremost authorities on digital media and tech policy, Jason offers invaluable insights into the implications and potential outcomes of this landmark case.

The Re-Monopolization of the U.S. Sports Trading Card Industry May 08, 2024

Listen in as Capitol Forum Executive Editor Teddy Downey interviews the authors of a recent paper entitled “The Re-Monopolization of the U.S. Sports Trading Card Industry.” Authors Marc Edelman, Nathaniel Grow and John Holden discuss the history of US sports trading cards leading up to sports retailer Fanatics’ consolidation of the $8B industry. Learn how Fanatics used exclusive sports-licensing agreements to achieve the monopoly and what the potential implications are for the industry and for consumers.

Capital One/Discover: A Competition Policy and Regulatory Deep Dive Apr 15, 2024

Hear senior policy analyst at Economic Liberties Shahid Naeem discuss his findings from a recent report on the proposed Capital One/Discover merger, which, if approved, would create the U.S.’s sixth-largest bank and No. 1 credit card issuer. Shahid evaluates the strength of Capital One’s “merge-to-compete” defense in an increasingly challenging enforcement environment.

Antitrust Enforcement - Past, Present, & Future with Bill Baer Apr 15, 2024

On the latest episode of The Capitol Forum’s Second Request podcast, Executive Editor Teddy Downey speaks with one of the world’s best known and most respected antitrust/competition enforcers, Bill Baer. As the only person to have led antitrust enforcement at both U.S. antitrust agencies, Bill offers unique insight into how antitrust enforcement has changed over the years and what challenges and opportunities current enforcers face.

Exploring Shifts in the Global Antitrust Landscape with Cristina Caffarra Apr 15, 2024

On this episode of Second Request, renowned antitrust expert Cristina Caffarra talks to Executive Editor of The Capitol Forum, Teddy Downey, about how the major shift underway in US antitrust is propagating across the globe. Listen to the podcast to learn what implications the shift has for antitrust, trade and industrial policy across the US, Europe and the Global South. They also cover developments that have come out of Cristina’s groundbreaking conference in Brussels: Antitrust, Regulation and the Next World Order.

John Newman on Antitrust, AI and Current FTC Cases Mar 20, 2024

On this episode of Second Request, The Capitol Forum’s Teddy Downey speaks with former FTC deputy director and DOJ trial attorney, John Newman, about the current antitrust landscape in the US. Currently a Professor of Law at Miami University, John is an expert on antitrust and competition law, with a primary focus on the economics and regulation of digital markets. Listen to the podcast to hear them discuss the latest FTC cases and how AI is shaping antitrust law.

2024 Presidential Election Outlook with Michael Podhorzer Mar 20, 2024

Experienced election analyst Michael Podhorzer talks to Executive Editor of The Capitol Forum, Teddy Downey, about the 2024 presidential election. Listen to the podcast to learn more about what polling and historical voting patterns can and can’t tell us about prospective outcomes. They also discuss the roles and responsibilities of the press during election cycles.

How Hackers Dox Doctors to Order Mountains of Oxy and Adderall Mar 20, 2024

404 Media co-founder and journalist Joseph Cox discusses his latest investigation into how hackers and fraudsters are illegally accessing sensitive drug ordering tools and then advertising some of the most tightly controlled drugs in the country, including fentanyl. Communicating directly with the hackers and fraudsters themselves, Joseph was able to uncover how they are gaining access to legitimate drug ordering services. Listen to the podcast to learn about the methods they use and why unsecure “credit header data” is at the root of many of these compromises.

White House Competition Priorities: A Conversation with Bharat Ramamurti Jan 23, 2024

On this episode of Second Request, Executive Editor of The Capitol Forum, Teddy Downey, speaks to former Deputy Director for the National Economic Council Bharat Ramamurti about the White House’s approach to improving competition across all sectors of the economy. During his time on the National Economic Council, Bharat played a key role in developing the President’s Executive Order on Competition, which set forth 72 provisions for steps federal agencies can take to promote competition. Listen to the podcast to learn how the Executive Order reflects the president’s specific competition priorities and to hear about some of the successes that have already come out of it, including the newly established Competition Council.

A Discussion with Clean Virginia’s Brennan Gilmore Dec 21, 2023

On this episode of Second Request, executive director of Clean Virginia, Brennan Gilmore, discusses the biggest successes and challenges Clean Virginia has experienced working to advance clean government and clean energy. Listen to the podcast to learn about the history of Virginia’s monopoly utility regulation and the influence Dominion Energy, Virginia’s largest utility, has had on how the state’s energy is structured. You'll hear why Clean Virginia blames a misaligned incentive structure and political influence for years of customer overcharges, poor energy efficiency, and lack of market competition and what they are doing to change it.

Unpacking the Litigation Against the National Association of Realtors with Real Estate Executive Jack Ryan and Antitrust Attorney Darren McCarty Nov 29, 2023

Jack Ryan, cofounder and CEO of the real estate brokerage REX, and Darren McCarty, lead lawyer in the current antitrust litigation for REX, discuss the recent litigation against the National Association of Realtors and what it means for the future of residential real estate.

A Deep Dive into the Google Trial and Tech Landscape with Seth Bloom Nov 29, 2023

Legal expert Seth Bloom delves into the Google antitrust trial, amidst the current legal landscape, tech trends, and evolving regulatory environment. Analyzing the trial's dynamics, he and host Teddy Downey explore the role of Judge Mehta, potential outcomes, and the broader implications for the tech industry. The conversation extends to AI, cloud computing, and algorithmic accountability, touching on issues surrounding YouTube and children's privacy.

Kevin Erickson on Live Nation Entertainment Nov 29, 2023

Kevin Erickson, director of the Future of Music Coalition, discusses the DOJ and State AGs’ monopolization investigations into Live Nation and how anticompetitive conduct in the industry hurts musicians and fans. Kevin and host Teddy Downey lay out what regulators, enforcers, and policymakers can do to encourage competition, diversity of practice, and creative autonomy in the live music marketplace.

Untapped Government Policy Options for Getting Cheaper Generics to Market with Dr. Michael J. Birrer Nov 29, 2023

Dr. Michael J. Birrer, an expert in oncology, discusses the complexities of generic oncology drug shortages, exploring the root causes and potential solutions to this recurring problem. Dr. Birrer shares his perspectives on the impact of reimbursement policies, the role of government intervention, and the need for a more streamlined FDA process. The discussion also touches on the influence of insurance companies, the quality of medical expertise in insurance decisions, and the broader landscape of oncology drug development.

Venture Predation: How Venture-Backed Startups Use Predatory Pricing to Suppress Competition Sep 15, 2023

On the latest episode of Second Request, Associate Professor of Law Matthew Wansley and Professor of Law Samuel Weinstein of Cardozo School of Law discuss their recent article entitled “Venture Predation” published in the Journal of Corporation Law. Speaking with The Capitol Forum’s Teddy Downey, Matthew and Samuel explain the economics and history behind venture predation and why we currently see very little enforcement of the practice. Download the podcast to hear descriptions of some of the high-profile case studies addressed in their article, including Uber, WeWork, and Bird and learn what these examples can show us about venture predation’s harmful impact on consumers, communities and innovation.

A Discussion with Shaoul Sussman on the DOJ and FTC’s New Merger Guidelines Aug 03, 2023

On this episode of Second Request, Teddy Downey and the FTC’s Shaoul Sussman discuss the new draft merger guidelines from the FTC and DOJ. Shaoul describes some of the market dynamics, economic conditions and case law reflected in the new guidelines, and why the agencies thought it was time for an update: The agencies “have a mandate to make the guidelines more accessible and provide clear rules of the road, both for CEOs that contemplate a merger and also for the public to understand what goes into how we think about cases.”

Listen to the podcast to hear them delve into some of the language and intentions of individual guidelines, including:

Guideline six and market structures
Guideline seven and the concept of dominance
Guideline eight and concentration trends

Diana Moss to Swifties: This is How to Break Up Ticketmaster/Livenation Jul 27, 2023

On July 20, Capitol Forum Executive Editor Teddy Downey spoke with Diana Moss, President of the American Antitrust Institute (AAI), about what a LiveNation-Ticketmaster monopoly breakup could look like. The AAI recently published a deep dive on vertical integration of Live Nation and Ticketmaster as well as proposed remedies. On the podcast, Diana describes the legal climate around vertical mergers in 2010 when the two companies first merged: “We had this whole gestalt around vertical mergers being viewed as pro-competitive, getting a lot of deference in enforcement cases, no case law. And that merger, Live Nation/Ticketmaster, was especially egregious because Ticketmaster had about 80 percent share in primary ticketing.”

To put that statistic in perspective, Diana sites the new, proposed merger guidelines, which describe 50 percent share as a presumption of anti-competitive outcomes. The current result, she points out, is a lack of choice for everyone involved: “Venues have no choice, or very little choice, but to go to Ticketmaster.

Artists have very little choice but to go to Ticketmaster for ticketing. Even Taylor Swift had to do this. She was promoted by AEG, which is a competing concert promoter, but AEG didn't have the ticketing services. So Ticketmaster was the only option.”

Listen to the full podcast to hear about:

The complications of secondary markets

Retaliation fears from artists and independent venues

Historical breakup precedents

Potential remedies, including the drawbacks to conduct remedies

The Rise of Textualism in Antitrust Enforcement: A Conversation with Bob Lande Jul 13, 2023

In the latest episode of Second Request, Teddy interviews Bob Lande on the impact of textualism on merger analysis. Bob Lande is Venable Professor of Law Emeritus at the University of Baltimore School of Law and a board member for the American Antitrust Institute who has written about the use of textualism in antitrust enforcement and the way it affects statutory interpretation in a recent article for the Utah Law Review and a presentation to the FTC.

Due to its emphasis on “precise language,” Bob argues that rather than leading to more conservative antitrust decision making by the courts, textualism should lead to the exact opposite: “Textualism should lead, if anything, to more aggressive antitrust enforcement….This is because the Sherman Act, the FTC Act and the Clayton Act are all products of the progressive era. It's not surprising that their precise language is very pro-consumer and very anti-monopoly.”

Listen to the podcast to hear Teddy and Bob discuss:

• Section 7 language

• The express efficiencies defense

• Monopolization

California Attorney General Rob Bonta’s Antitrust Priorities Jul 06, 2023

On April 23, 2021, Rob Bonta was sworn in as the 34th Attorney General of the State of California, the first person of Filipino descent and the second Asian-American to occupy the position.

Attorney General Bonta's passion for justice and fairness was instilled in him by his parents, who served on the frontlines of some of America's most important social justice movements. Instilling in him the lessons they learned from the United Farm Workers and the civil rights movement, Attorney General Bonta's parents lit a fire inside him to fight against injustice — to stand up for those who are taken advantage of or harmed. It's why he decided to become a lawyer — to help right historic wrongs and fight for people who have been harmed. He worked his way through college and graduated with honors from Yale University and attended Yale Law School.

In the State Assembly, Attorney General Bonta enacted nation-leading reforms to inject more justice and fairness into government and institutions. As the People's Attorney, he sees seeking accountability from those who abuse their power and harm others as one of the most important functions of the job. In elected office, he has taken on powerful interests and advanced systemic change — pursuing corporate accountability, standing up for workers, punishing big polluters, and fighting racial injustice. He has been a national leader in the fight to transform the criminal justice system, banning private prisons and detention facilities in California, as well as pushing to eliminate cash bail in the state. He has led statewide fights for racial, economic, and environmental justice and worked to further the rights of immigrant families, renters, and working Californians.

The Real Reason Your Groceries Are Getting More Expensive with Stacy Mitchell Jun 22, 2023

Stacy Mitchell is Co-Executive Director of the Institute for Local Self-Reliance, a research and advocacy organization that challenges concentrated corporate power and works to build thriving, equitable communities. ILSR has been a pioneering leader in the growing anti-monopoly movement and has a long track record of working alongside grassroots groups to develop better alternatives, from community-owned broadband, to independent businesses, to distributed solar.

Stacy recently wrote an opinion piece in the New York Times titled The Real Reason Your Groceries are Getting More Expensive, and has advocated for the FTC revitalizing the anti chain store legislation known as the Robinson Patman Act.

Stacy has also produced pivotal research and reporting on the policies driving the decline of small businesses and the economic and political consequences of monopoly power. In 2020, she was profiled by the New York Times for her analysis of Amazon’s power and her leadership in building a broad coalition to counter it. Her reports and articles about the tech giant have drawn a wide and influential readership. The House Judiciary Committee cited her research extensively in its “Investigation of Competition in Digital Markets.” In 2022, political strategy firm Baron named her an “Antitrust Super Influencer” for her role in shaping the policy debate.

FTC Commissioner Alvaro Bedoya Argues for Robinson-Patman Act Revitalization Jun 15, 2023

Alvaro Bedoya was sworn in May 16, 2022 as a Commissioner of the Federal Trade Commission. President Joe Biden named Bedoya to a term that expires on Sept. 25, 2026.

Bedoya was the founding director of the Center on Privacy & Technology at Georgetown University Law Center, where he was also a visiting professor of law. He has been influential in research and policy at the intersection of privacy and civil rights, and co-authored a 2016 report on the use of facial recognition by law enforcement and the risks that it poses to privacy, civil liberties, and civil rights. He previously served as the first Chief Counsel to the Senate Judiciary Subcommittee on Privacy, Technology and the Law after its founding in 2011, and Chief Counsel to former Senator Al Franken, of Minnesota. Prior to that, he was an associate at the law firm WilmerHale.

Alleged Anticompetitive Conduct by Drug Wholesalers with Luke Slindee Jun 08, 2023

This week on Second Request, our host Teddy Downey is joined by Luke Slindee, Senior Pharmacy consultant at Myers and Stauffer LC. In this role, Luke helps facilitate the data collection, data analysis, and public posting of pharmacy actual acquisition cost benchmarks, reducing NADAC and multiple State AACs. Luke is widely recognized for his expertise in pharmacy policy and competition rules.

Philip Mattera on Pay for Delay Jun 01, 2023

This week on Second Request, the Hatch-Waxman Act of 1984 laid out a pathway for generic drugs to come to market as patent protections for brand name drugs expire. But brand-name producers have found a way to stave off competition: paying generic producers to delay market entry of their cheaper drugs.

Structural Presumption for Merger Review with Tommaso Valletti May 25, 2023

Tommaso Valletti is Professor of Economics at Imperial College Business School and also the University of Rome "Tor Vergata" (on leave). He was formerly the Chief Competition Economist of the European Commission,

In a recent paper, "Structuring a Structural Presumption for Merger Review," Tommaso and Filippo Lancieri discuss the key standards that should drive antitrust enforcement.

The Coming Antitrust Wars in the Alcohol Market, with Harry Schuhmacher Apr 27, 2023

With the FTC already investigating the liquor distribution market as well as Big Soda as it tries to enter the beer market, and with the Department of Treasury's TTB undertaking a rulemaking to revamp alcohol competition law, the timing couldn't be better to hear from Harry Schuhmacher on his views on problematic conduct in the alcohol markets.

Harry Schuhmacher is Editor & Publisher of Beer Business Daily, Craft Business Daily and Wine & Spirits Daily – all read on every continent except Antarctica. Harry has worked in the beer business for over 30 years in a variety of positions, and has published Beer Business Daily for over twenty years. In addition, he is the producer of the Beer Industry Summit and the Wine & Spirits Summit. He is often quoted as a beer industry expert in national publications such as Forbes, The Wall Street Journal, and Bloomberg. He is a graduate of the University of Texas at Austin.

Spotting Anticompetitive Conduct in Pharma Supply Chain, with Antonio Ciaccia Apr 04, 2023

46brooklyn is a group of pharmacy experts who set out to educate others about what they had learned about the frustrating complexity of the U.S. drug pricing system.

As 46brooklyn dug into the pharmaceutical supply chain, Ohio began uncovering hundreds of millions of dollars in state overspending on prescription drugs through its Ohio Medicaid program. 46brooklyn's founders had begun doing data analytics and research to help uncover massive disconnects between pharmacy reimbursements, the actual costs of prescription drugs, and what the state of Ohio was getting charged through its state Medicaid program.

Ever since, 46brooklyn has spearheaded a national push for more transparency into the pharmaceutical supply chain, particularly the role played by Pharmacy Benefit Managers (PBMs).

United Healthcare's Culture and Coverage Denial Crisis, with David Armstrong and Patrick Rucker Feb 24, 2023

On February 2nd, Propublica and The Capitol Forum co-published a blockbuster article: "UnitedHealthcare Tried to Deny Coverage to a Chronically Ill Patient. He Fought Back, Exposing the Insurer’s Inner Workings."

It is a shocking story about a persistent effort by an insurer to choose profit over patient health, and we discuss the reporting for the story in-depth with two of the authors. We also explore what the reporters learned about UnitedHealth's culture and the gaps in oversight and enforcement when it comes to the government's role in policing and regulating insurance companies.

Analyzing the FTC's Ban on Noncompete Agreements with Sandeep Vaheesan Feb 02, 2023

The FTC recently proposed to ban noncompete agreements, and one of the most persistent advocates for this rule is Sandeep Vaheesan, legal director at the Open Markets Institute.

Vaheesan leads Open Markets’ legal advocacy and research work, including its amicus program. Vaheesan works on a range of anti-monopoly topics, including antitrust law’s role in structuring labor markets and promoting fair competition. From 2015 to 2018, he served as a regulations counsel at the Consumer Financial Protection Bureau, where he helped develop rules on payday and title lending and debt collection practices. Before that, he worked at the American Antitrust Institute.

Vaheesan’s writing has appeared in The Atlantic, Harvard Law & Policy Review, The New York Times, The Washington Post, and Yale Law Journal Forum. He has a forthcoming book titled Democracy in Power with the University of Chicago Press on the history of public and cooperative power in the United States and the lessons it offers for building a clean, publicly accountable electric industry today.

FTC’s Elizabeth Wilkins Discusses Proposed Ban on Non-Compete Agreements Jan 20, 2023

The FTC recently issued a proposed rule to ban noncompete clauses, which the agency estimates could increase workers’ earnings by nearly $300 billion per year.

Elizabeth Wilkins is the FTC’s Director of the Office of Policy Planning, and the lead on the proposed rule on noncompetes.

The Office of Policy Planning assists the Commission to develop and implement long-range competition and consumer protection policy initiatives and advises staff on cases raising new or complex policy and legal issues.

One of the Office of Policy Planning's primary roles involves advocacy, submitting filings supporting competition and consumer protection principles to state legislatures, regulatory boards, and officials; state and federal courts; other federal agencies; and professional organizations. The Office also organizes public workshops and issues reports on cutting-edge competition and consumer protection topics, addressing questions of substantive antitrust law, industry-specific practices, and significant national and international policy debates. In addition to the Office of Policy Planning, several offices throughout the Commission, including the Bureau of Competition’s Office of Policy and Coordination, also provide policy advice.

Chokepoint Capitalism with Author Cory Doctorow Dec 22, 2022

“In Chokepoint Capitalism, scholar Rebecca Giblin and writer and activist Cory Doctorow argue we’re in a new era of “chokepoint capitalism,” with exploitative businesses creating insurmountable barriers to competition that enable them to capture value that should rightfully go to others. All workers are weakened by this, but the problem is especially well-illustrated by the plight of creative workers. From Amazon’s use of digital rights management and bundling to radically change the economics of book publishing, to Google and Facebook’s siphoning away of ad revenues from news media, and the Big Three record labels’ use of inordinately long contracts to up their own margins at the cost of artists, chokepoints are everywhere.”

“By analyzing book publishing and news, live music and music streaming, screenwriting, radio and more, Giblin and Doctorow deftly show how powerful corporations construct “anti-competitive flywheels” designed to lock in users and suppliers, make their markets hostile to new entrants, and then force workers and suppliers to accept unfairly low prices.”

“In the book’s second half, Giblin and Doctorow then explain how to batter through those chokepoints, with tools ranging from transparency rights to collective action and ownership, radical interoperability, contract terminations, job guarantees, and minimum wages for creative work.”

https://www.penguinrandomhouse.com/books/710957/chokepoint-capitalism-by-cory-doctorow-and-rebecca-giblin/

FTC Chair Lina Khan Discusses Unfair Methods of Competition Dec 12, 2022

Lina M. Khan was sworn in as Chair of the Federal Trade Commission on June 15, 2021. Prior to becoming head of the FTC, Khan was an Associate Professor of Law at Columbia Law School. She also previously served as counsel to the U.S. House Judiciary Committee’s Subcommittee on Antitrust, Commercial, and Administrative Law, legal adviser to FTC Commissioner Rohit Chopra, and legal director at the Open Markets Institute.

Microsoft/Activision with Xbox CEO Phil Spencer Dec 06, 2022

Xbox CEO Phil Spencer discusses competition in the video game market.

Fixing "Litigating the Fix" with Professor Steve Salop Nov 29, 2022

Steven Salop is a Professor of Economics and Law (Emeritus) at the Georgetown University Law Center in Washington, DC, where he teaches antitrust law and economics. His research and consulting focuses on antitrust, competition and regulation. He has written numerous articles in various areas of antitrust and competition which take a modern “Post-Chicago” approach.

He recently co-wrote a paper with Jennifer E. Sturiale laying out a proposal for how antitrust enforcers and courts can fix "Litigating the Fix."

The Hidden Monopoly Driving Up Rents Oct 27, 2022

Heather Vogell is a Propublica journalist currently investigating the  rental housing market. Her recent article, “Rent Going Up? One Company’s Algorithm Could Be Why,” has resonated with citizens, antitrust enforcers, and policymakers across the country.

Taking on Monopoly Power in Search with Neeva CEO Sridhar Ramaswamy Oct 20, 2022

Neeva is an ads-free search engine that Sridhar co-founded after overseeing advertising at Google. We discuss big tech, competition policy, and how his views on data have shifted since creating Neeva.

A Hidden Monopoly in Appalachia Driving Up Energy Prices Sep 23, 2022

Daniel Sherwood, Energy Team Editor at the Capitol Forum, and his colleague Sharon Kelly discuss their investigation into the Natural Gas Liquids market, where they found indications that dominant producers in Appalachia are encouraging each other to keep prices high by producing less.

CVS and Signify: Value-Based Care or Risk Score Gaming? Sep 16, 2022

Lisa Epstein and Vikas Kumar from the Capitol Forum’s corporate investigations team discuss their reporting on the aggressive marketing tactics and sales strategies of Signify Health on the eve of its proposed $8 Billion acquisition by CVS.

Dr. Cristina Caffarra on the State of Europe’s Antitrust Regulation and Enforcement Aug 04, 2022

Dr. Caffarra is a world-renowned competition economist with over two decades of experience. She’s served as a top advisor and expert before the European Commission and has provided guidance to multiple companies and agencies on mergers, conduct cases and regulatory issues.

In this episode of Second Request, Dr. Caffarra dives into the latest in European antitrust regulation and enforcement and voices concerns about the influence of economists on competition.

The Weak Argument Jeopardizing Tech Antitrust Legislation with Gilad Edelman Jul 07, 2022

Gilad Edelman is a senior writer for WIRED, covering the intersection of tech, politics, and law. Before that, he was executive editor of the Washington Monthly. He has a degree from Yale Law School.

His recent article, “The Weak Argument Jeopardizing Tech Antitrust Legislation” is having an outsized impact on the conversation happening on Capitol Hill.

Beat Inflation by Tackling Market Power and Supply Chain Crisis, Says Niko Lusiani Jun 30, 2022

Niko Lusiani is the co-author of the Roosevelt Institute’s recently published paper, “Prices, Profits, and Power: An Analysis of 2021 Firm-Level Markups.

How to understand and respond to inflation has become one of the central debates of this economic recovery. In “Prices, Profits, and Power: An Analysis of 2021 Firm-Level Markups,” Roosevelt’s Director of Macroeconomic Analysis, Mike Konczal, and Director of Corporate Power Niko Lusiani, conduct original research to show that we need an all-of-government administrative, regulatory, and legislative approach to tackling inflation that includes demand, supply, and market power interventions.

Bust Up Pharmaceutical Middlemen, Says Representative Buddy Carter Jun 23, 2022

U.S. Representative Buddy Carter is a pharmacist by trade and a lifelong resident of the First District of Georgia, which he represents. He recently wrote a letter to the FTC calling for an investigation into the ways Pharmacy Benefit Managers (PBMs) spike consumer drug prices and reduce access to life saving drugs.

He discusses the monopoly problems that PBMs present and what the FTC and Congress can do to stop anticompetitive conduct in the industry and protect independent pharmacies.

The Baby Formula Monopoly with Moe Tkacik Jun 16, 2022

Moe Tkacik is a Senior Fellow at the American Economic Liberties Project. She’s a former journalist who has worked for the Wall Street Journal and Time, and she discusses the supply chain crisis behind the Baby Formula shortage and possible solutions to the problem.

Solving Data-opoly Problems with Maurice Stucke May 19, 2022

Maurice Stucke is the Douglas A. Blaze Distinguished Professor of Law at the University of Tennessee and recently wrote Breaking Away: How to Regain Control Over Our Data, Privacy, and Autonomy.

Breaking Away sounds a warning call alerting readers that their privacy and autonomy concerns are indeed warranted, and the remedies deserve far greater attention than they have received from our leading policymakers and experts to date. Through the various prisms of economic theory, market data, policy, and law, the book offers a clear and accessible insight into how a few powerful firms - Google, Apple, Facebook (Meta), and Amazon - have used the same anticompetitive playbook and manipulated the current legal regime for their gain at our collective expense.

While much has been written about these four companies' power, far less has been said about addressing their risks. In looking at the proposals to date, however, policymakers and scholars have not fully addressed three fundamental issues: First, will more competition necessarily promote our privacy and well-being? Second, who owns the personal data, and is that even the right question? Third, what are the policy implications if personal data is non-rivalrous?

Stop Bank Mergers to Help Rural America, Says Basel Musharbash May 12, 2022

His recent report, “To Stem the Tide of Rural Decline, Stop the Bank Merger Wave” is making its own waves in the antitrust community as regulators look to revamp the banking merger guidelines.

Basel shares with us how big the merger wave has been since the 1980s, why it happened, the effect it’s had on farmers, entrepreneurs, and rural communities, and his solution for fixing the problem.

Private Equity is Killing the American Economy, with Josh Kosman Apr 28, 2022

Josh Kosman has been covering the financial industry for twenty-five years. He is a reporter for the New York Post, a former editor at Mergermarket.com and a former senior writer for The Deal and Buyouts Newsletter.

Josh also literally wrote the book on private equity – his The Buyout of America: How Private Equity is Destroying Jobs and Killing the American Economy, published in 2009, made a big political impact at the time, with Obama advisor David Axelrod reportedly using it as the basis for his attacks on Mitt Romney during the 2012 presidential campaign.

Private equity and mergers. The FTC and DOJ are, according to Capitol Forum reporting, taking a harder stance on private equity firms as potential divestiture buyers for assets companies are proposing to sell in their attempts to cure anticompetitive mergers.

Private equity and rising interest rates. Josh’s website details how “Moody’s in May 2020 reported that two-thirds of the companies with the lowest debt ratings” were private equity-owned. “Standard & Poor’s in February 2020 reported $1.5 trillion in speculative-grade US corporate debt matures through 2024…Roughly 60 percent of the money has been borrowed by private equity firm-owned companies. With interest rates rising this poses a big risk.” Josh adds.

Private equity’s political power. Josh is also expert on private equity’s political influence, and has written about Senator Kyrsten Sinema’s (D-AZ) support for the industry and President Joe Biden’s ties to Carlyle Group Co-Founder David Rubenstein.

Antitrust Super Influencers with Baron Public Affairs Apr 21, 2022

Baron Public Affairs recently issued a report naming the top 10 antitrust super influencers, and they share their findings in this episode.

Baron Public Affairs is a unique firm that “combines objective strategy development with groundbreaking research platforms” to help corporate clients “identify, understand and surmount” regulatory threats. They developed their list of antitrust super influencers by sifting through “approximately 27,000 references made by members of Congress, executive branch officials, and others.”

Baron’s top 5 antitrust super influencers are:

1) William Kovacic, George Washington University

2) Sarah Miller, American Economic Liberties Project

3) Charlotte Slaiman, Public Knowledge

4) Adam Kovacevich, Chamber of Progress

5) Matt Stoller, American Economic Liberties Project

See Baron’s full report for the top 10.

The report is full of insights, and worth noting in particular are Baron’s conclusions that “antitrust super influencers prioritize practical achievements over intellectual purity” and that “economics is losing authority in the political arena.”

Block the Spirit/Frontier Airlines Merger Argues Shahid Naeem Mar 31, 2022

Shahid Naeem is a policy analyst at the American Economic Liberties Project and the author of a memo calling for the Department of Justice and Department of Transportation to block the merger between Spirit and Frontier.

Fixing Pharma With Tahir Amin Mar 17, 2022

Tahir Amin is an attorney with more than 25 years of experience in intellectual property law and the co-founder of I-Mak, which seeks to build a more just and equitable medicine system for all via patent reform.

Big Tech Litigation Outlook, with Jason Kint Mar 10, 2022

Jason Kint is CEO of Digital Content Next, the only trade association to exclusively serve the unique and diverse needs of high-quality digital content companies that manage trusted, direct relationships with consumers and marketers. Jason guides DCN’s diverse and powerful group of members — established brands such as The New York Times, Conde Nast and ESPN, and digital natives, such as Vox, Politico and Insider — into the future, setting the agenda on a range of issues.

Jason produces must-read analysis of ongoing litigation against the big tech platforms, primarily Google and Facebook. In this episode, Jason tells us what he’s focused on in the tech platform battles in the courts, and what we can expect to see going forward.

Amazon Vs. The U.S. Postal Service, a Ted Tatos Talk Mar 03, 2022

Ted Tatos is Managing Director of EconOne and co-author of the recent report, “Protecting the U.S. Postal Service from Amazon’s Anticompetitive Assault.” In the conversation, we get into a lot of different aspects of Amazon’s ongoing effort to dominate the postal service.

A quick note: Ted’s report was funded by a conservative group called The Family Business Coalition, which includes small family-owned businesses that ship parcels. For the report, Ted also interviewed a couple of prominent voices in the antimonopoly movement whom we’ve had on the show before—Matt Stoller from the American economic liberties project and Stacy Mitchell from the Institute for Local Self Reliance.

Matthew Buck Explains How America’s Supply Chains Got Railroaded Feb 17, 2022

Matthew Jinoo Buck is a fellow at the American Economic Liberties Project and a first-year student at Yale Law School.

His article in the American Prospect, “How America’s Supply Chains Got Railroaded” tells the history of how deregulation and consolidation gave us a railroad industry that is now a weak link in our supply chain. He also tells how the industry is more dangerous for workers and less reliable for customers even as it produces outsized profits for investors.

Jeff Horwitz on The Facebook Files Feb 10, 2022

Jeff Horwitz is a Wall Street Journal technology reporter who covers Facebook. He is the lead reporter on the groundbreaking series of articles titled The Facebook Files. The conversation covers myriad issues facing Facebook and we ask Jeff why, when facing choices between the public interest and growth on the platform, Mark Zuckerberg always chooses growth.

Evan Starr on The Economic Benefits of Banning Non-competes Feb 03, 2022

Evan Starr, Associate Professor of Management & Organization at the Robert H. Smith School of Business at the University of Maryland, discusses the likely economic benefits of the FTC banning non-compete agreements, including a boost to wages and worker mobility.

Inflation, Monopoly, and Predictions for 2022 with Matt Stoller Jan 20, 2022

Matt Stoller, Director of Research at the American Economic Liberties Project, discusses the debate around monopoly and inflation. Matt also shares his predictions for the antimonopoly movement in 2022.

Luke Herrine: FTC Should Reject the Conventional Folklore Around its Unfairness Authority Dec 23, 2021

Luke Herrine, author of “The Folklore of Unfairness.” Herrine’s article, published recently in the New York University Law Review, argues that conventional wisdom – which holds that the FTC in the 1970s pursued an expansive notion of its unfairness authority but failed spectacularly – “gets the law and the history wrong.”

Instead, argues Herrine, the commission’s actions in the 1970s were quite popular, and the FTC Act’s ban on “unfair…acts and practices” is therefore “more potent than commonly assumed.” That argument could take on new urgency as current FTC Chair Lina Khan seeks to push the boundaries of the commission’s authority.

Amazon’s Toll Road with Stacy Mitchell, Co-director of the Institute for Local Self-Reliance Dec 16, 2021

Stacy Mitchell is co-director of the Institute for Local Self-Reliance and directs its Independent Business Initiative, which produces research and designs policy to counter concentrated corporate power and strengthen local economies.

ILSR’s new report, Amazon’s Toll road, finds that “Amazon is exploiting its position as a gatekeeper to impose steep and growing fees on third-party sellers” and that “even as these exorbitant fees bankrupt sellers, they are generating huge profits for Amazon, a fact that the tech giant conceals in its financial reports.”

Jeff Hauser: Cracking Down on Monopolies is Winning Politics Dec 09, 2021

Jeff Hauser is the founder and director of the Revolving Door Project, which is an influential organization that scrutinizes executive branch appointees to ensure they serve the public interest rather than large corporations’ interests.

The Revolving Door Project’s newest polling and analysis memo, “Corporate Crackdown” concludes that there is broad, bipartisan support for a President who is willing to stand up to entrenched corporate power and illegal corporate conduct.

The “No Collusion” Rule by Brendan Ballou, DOJ Trial Attorney Dec 02, 2021

Brendan Ballou is a trial attorney at DOJ’s antitrust division and author of “The 'No Collusion' Rule,” published earlier this year in the Stanford Law & Policy Review. In that article, Ballou proposes that the FTC, under its unfair methods of competition authority, should pursue a “no collusion” rulemaking , which would seek to prevent companies from raising prices simply because their competitor has done so.

Barry Lynn, Executive Director of the Open Markets Institute Oct 28, 2021

Barry Lynn has literally written the book on two of the hottest economic and policy topics right now—monopolies and supply chain fragility. His book on monopoly is called Cornered: the new monopoly capitalism and the economics of destruction and his book on supply chains is called End of the Line.

On a previous podcast, former FTC Chair Bill Kovacic said that Barry Lynn’s work on launching the antimonopoly movement is “one of the most successful efforts to develop a new intellectual framework and to get it into the bloodstream of the policymaking process.”

In this episode, Barry talks about the importance of the President's executive order on competition and where the antimonopoly movement is headed next.

The Honorable Bill Kovacic Sep 30, 2021

The Honorable Bill Kovacic gives his outlook for antitrust enforcement in the Biden administration and distinguishes between antitrust Transformationalists and Traditionalists and their struggle for influence. He also discusses antitrust rulemaking, antitrust legislation, and Robinson-Patman enforcement.

Claire Kelloway on Meat Industry Consolidation’s Impact on Workers and Citizens Sep 10, 2021

Teddy talks with Claire Kelloway, a senior reporter with the Open Markets Institute. She’s also the primary writer for Food & Power, a website providing original reporting and resources on monopoly power in the food system.

Claire gives her outlook for antitrust enforcement in the meat industry during the Biden administration.

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Seth Bloom’s Outlook for Antitrust Legislation Jul 15, 2021

Teddy chats with Seth Bloom, founder of Bloom Strategic Counsel and former General Counsel of the Senate Antitrust Subcommittee, to get his thoughts on which antitrust bills can pass Congress and get signed into law and which will be left on the cutting room floor.

Seth and Teddy also talk about

new priorities at the FTC,
which already-consummated mergers the FTC might investigate and try to break up, and
other parts of the FTC’s agenda that are being overlooked.

Ron Knox says, “Break up Big Music” Jul 01, 2021

Teddy chats with Ron Knox, senior researcher and writer at The Institute for Local Self-Reliance, about his recent article in Wired Magazine, Big Music Needs to Be Broken Up to Save the Industry. He tells stories about

why music is worse now than it was when the industry was more competitive,
how Sweet Jane Recordings is actually owned by a big conglomerate,
how independent record stores ended up with prescription cough syrup instead of indie records,
how YouTube effectively sets a floor on streaming royalty rates, and how big radio pays no royalty rates for playing music.

Lastly, he talks about how he is optimistic that new antitrust leadership and new legislation in Congress will reshape the industry.

The Honorable William Baer May 27, 2021

Teddy chats with Bill Baer about antitrust being at an inflection point, the consumer welfare test as "not even a useful construct anymore," antitrust rulemaking as a new tool in the enforcer toolbox, stepped up criminal antitrust enforcement, and a likely increase in focus on buyer power concerns from antitrust enforcers.

The Capitol Forum Podcast Trailer May 12, 2021

Following forty years of laissez-faire antitrust enforcement and industry consolidation, the White House is considering a fundamental rethink of how to interpret, enforce, and rewrite antitrust law, and many questions remain unanswered for the antitrust community.

On the heels of federal and state litigation against Google and Facebook, is Amazon next? Will the new administration put big agriculture, big banks, and big pharma in its crosshairs? Will the courts stop antitrust enforcers in their tracks? Will the Biden administration get cold feet?

The Capitol Forum Podcast provides in-depth discussions with antitrust experts about the answers to these questions and about proposed solutions to the biggest monopoly problems of our time. Backed by the investigative resources and intellectual rigor of The Capitol Forum, Executive Editor and host Teddy Downey examines the effects of the current concentrations of market power across a vast array of industry verticals as he and his guests analyze the potential responses from the federal government. Offering thoughtful conversations with analysts and decision makers, The Capitol Forum Podcast provides everyone from C-Suite executives to policymakers, and all those in-between, strategic antitrust insights at the intersection of law, policy, and markets.

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