I don’t want to defend capitalism, but the bottom panel depicts activity that is technically very illegal in the US (but antritrust laws have not been enforced by the FTC since the 1980s, barring a few short years in 2020s under Lina Khan).
Capitalism definitionally requires competition, without it you have… something even worse.
And those prices are currently being adjusted downward…
I believe it was Wells Fargo that was caught creating fake accounts under real customers names (why, I can’t remember) and they were fined something on the order of millions for it.
Mango Mussolini comes in and drops it to hundreds of thousands…
I don’t want to defend capitalism, but the bottom panel depicts activity that is technically very illegal in the US (but antritrust laws have not been enforced by the FTC since the 1980s, barring a few short years in 2020s under Lina Khan).
Capitalism definitionally requires competition, without it you have… something even worse.
Laws that are only enforced by fines are legal for a price.
And those prices are currently being adjusted downward…
I believe it was Wells Fargo that was caught creating fake accounts under real customers names (why, I can’t remember) and they were fined something on the order of millions for it.
Mango Mussolini comes in and drops it to hundreds of thousands…
Sounds like he wants more favorable mortgage rates.
Cost of doing business, baby.