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Senate confirms antitrust expert Lina Khan as FTC commissioner

The Senate voted 69-28 on Tuesday to confirm antitrust expert Lina Khan as a commissioner on the Federal Trade Commission.

Why it matters: Known for her work on how to apply antitrust laws to the tech industry, Khan's confirmation marks a changing tide in federal government efforts to rein in Big Tech companies, Axios' Ashley Gold and Margaret Harding McGill report.


The big picture: Khan, 32, is praised by tech critics who want to see broader principles replace the "consumer welfare" standard of antitrust.

Yes, but: Her nomination drew criticism from some Republicans who say her antitrust positions go too far.

  • Sen. Mike Lee (R-Utah) said after Khan's nomination that she lacks experience for the role, arguing: "This moment is too important for our antitrust enforcers to be learning on the job."

Catch up quick: Khan was nominated to be a commissioner on the FTC by the Biden administration in March. She's an associate professor of law at Columbia Law School, where she teaches antitrust.

  • Formerly an adviser for the House Judiciary Committee's antitrust investigation of tech firms, Khan also worked for Democratic FTC Commissioner Rohit Chopra.
  • Khan rose to prominence in 2017 when she wrote an article for Yale Law Journal titled, "Amazon's Antitrust Paradox," arguing that Amazon's retail business should be separated from its selling platform.

What's next: President Biden has one remaining commissioner position to fill to round out the FTC's five seats. The commission currently has an acting chair — Democrat Rebecca Slaughter — and another seat will open up if Chopra is confirmed as Biden's nominee to head the Consumer Financial Protection Bureau.

Go deeper: Biden gives tech's toughest critics seats at the policy table

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Trial for ex-officers charged with abetting Floyd murder delayed until 2022

The trial for three former Minneapolis police officers charged by state prosecutors with aiding and abetting the murder of George Floyd has been moved to March 7, 2022, AP reports.

Why it matters: Hennepin County Judge Peter Cahill said he wanted to move the date to accommodate a new federal case against the officers and Derek Chauvin, who has already been convicted on state charges for Floyd's murder.

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Hedge funds will be the villain at GameStop hearing

The House Financial Services Committee will convene a hearing tomorrow on "recent market volatility involving GameStop stock and other stocks" to continue the whodunnit of the current state of financial markets, especially U.S. stocks.

What's happening: Chair Maxine Waters will question the CEOs of Reddit, Robinhood, Citadel Securities, Melvin Capital and Keith Gill, also known as Roaring Kitty or u/DeepF--kingValue.

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Small business Paycheck Protection Program to restart next week

The next round of Paycheck Protection Program loans will open on Monday, albeit not for everyone.

Why it matters: As evidenced by this morning's bleak jobs report, many businesses continue to be battered by the surging pandemic.

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Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source. Lorem Ipsum comes from sections 1.10.32 and 1.10.33 of "de Finibus Bonorum et Malorum" (The Extremes of Good and Evil) by Cicero, written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of Lorem Ipsum, "Lorem ipsum dolor sit amet..", comes from a line in section 1.10.32.

Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source. Lorem Ipsum comes from sections 1.10.32 and 1.10.33 of "de Finibus Bonorum et Malorum" (The Extremes of Good and Evil) by Cicero, written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of Lorem Ipsum, "Lorem ipsum dolor sit amet..", comes from a line in section 1.10.32.

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The Very End

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