It was only a matter of time before the federal government got its dirty paws on Elon Musk’s multibillion-dollar Twitter purchase — the Biden admin won’t give up control that easily.
While woke corporations exact immense control over the population, the Federal Trade Commission has decided to target Elon Musk over his $44 billion acquisition of Twitter, arguably the most important social media platform in existence.
Musk rustled away ownership of Twitter by far-left whack jobs in an effort to restore a semblance of free speech rights back to the platform.
The FTC plans to review the Tesla CEO’s purchase just days after GOP Rep. Jim Jordan raised concerns about an unfair bias against Musk.
“[The Open Markets Institute] appears to believe that the FTC will be receptive to its cavalier effort to influence a federal agency that is run by its former employee,” Jordan wrote in a letter to FTC Chairwoman Lina Khan earlier this week.
“It is true that the Biden FTC is moving to promote progressive values that undermine capitalism and threaten innovation.”
Last month, the Open Markets Institute, a nonprofit group that advocates policies aimed at curtailing monopolies, requested the FTC block Musk’s transaction deal. However, no one really believes Musk is breaking any laws.
Under federal law, Musk is obligated to notify the Justice Department and the FTC about the deal and hold off for at least a month so that officials can investigate any antitrust issues.
What monopoly is Musk potentially forming here? It seems to anyone with a brain cell in their head that Twitter is surely not a monopoly given the numerous other social media platforms that function and are popular with American consumers.
In tandem with its review of Musk’s Twitter acquisition, the FTC is also conducting a separate inquiry into whether Musk should have informed the FTC when he amassed a 9% stake in the social media company, according to the outlet.
Musk did not file paperwork with the agency about the stake and appeared to rely on an exception for assets purchased for investment purposes, the outlet reported. The FTC typically doesn’t pursue punitive action if it determines the paperwork failure was accidental.
Khan previously served as the legal director at the Open Markets Institute.
Author: Robert Bogart