The Federal Trade Commission, created more than a century ago to protect consumers, is doing more harm than good and should be abolished.
The latest example: The FTC is doing everything it can to block a merger that, if allowed, would accelerate the availability of a new type of test that can detect 50 different types of cancer with a high degree of accuracy before symptoms appear. . The FTC is employing flimsy fundamentals that you should know will not stand up to judicial scrutiny. But the delay could help potential competitors, who apparently have the agency’s ear.
The FTC is known for its pushy behavior, acting as a prosecutor, judge and jury in the actions it brings. The Supreme Court recently ruled 9-0 against the agency’s propensity to impose fines on targets without bothering to follow legal procedures.
The FTC’s activities, particularly those related to antitrust competition, could be transferred to the Department of Justice.
In the meantime, Congress and the White House should pressure the FTC to immediately cease its pernicious acts regarding that cancer testing merger.