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Did Google’s Promise to ‘Do No Evil’ Convince the FTC to Do Nothing About Its Search Bias?

Has the Federal Trade Commission (FTC) been seduced by Google’s famous promise to “do no evil?” That’s the question a lot of critics are asking in the wake of the Internet search giant’s antitrust settlement with the FTC last week. The problem, critics say, isn’t simply that Google got off lightly; it’s that the FTC allowed Google to set the terms – both in defining whether the company’s behavior was harmful and in setting the terms of its punishment. “For critics of Google,” NYU Information Law Institute Fellow Nathan Newman writes on the Huffington Post, “[the] FTC decision is not bad news because we disagree with the results, but bad news because it reflects an enforcement agency failing to even ask the right questions.” (MORE: What Google’s FTC Deal Means for the Patent Wars) One of the central questions in the FTC’s antitrust investigation was how exactly to determine whether Google’s dominance in the search engine business has caused harm – and to ...

action agency billion business commission convenience decision dominance edward enforcement federal ftc google government huffington information institute internet investigation location mapquest nathan newman nyu punishment question service services settlement times wyatt york

Found more than 1 month ago on channel TIME Moneyland
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Did Google’s Promise to “Do No Evil” Convince the FTC to Do Nothing About its Search Bias?

Has the Federal Trade Commission been seduced by Google’s famous promise to “do no evil?” That’s the question a lot of critics are asking in the wake of the Internet search giant’s antitrust settlement with the FTC last week. The problem, critics say, isn’t simply that Google got off lightly; it’s that the FTC allowed Google to set the terms – both in defining whether the company’s behavior was harmful and in setting the terms of its punishment. “For critics of Google,” NYU Information Law Institute Fellow Nathan Newman writes on the Huffington Post, “[the] FTC decision is not bad news because we disagree with the results, but bad news because it reflects an enforcement agency failing to even ask the right questions.” (MORE: What Google’s FTC Deal Means for the Patent Wars) One of the central questions in the FTC’s antitrust investigation was how exactly to determine whether Google’s dominance in the search engine business has caused harm – and to whom? ...

action agency billion business commission convenience decision dominance edward enforcement federal ftc google government huffington information institute internet investigation location mapquest nathan newman nyu punishment question service services settlement times wyatt york

Found more than 1 month ago on channel TIME Business
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10 Banks Agree to Pay $8.5B for Foreclosure Abuse

(WASHINGTON) — Ten major banks and mortgage companies agreed Monday to pay $8.5 billion to settle federal complaints that they wrongfully foreclosed on homeowners who should have been allowed to stay in their homes. The banks, which include JPMorgan Chase, Bank of America and Wells Fargo, will pay billions to homeowners to end a review process of foreclosure files that was required under a 2011 enforcement action. The review was ordered because banks mishandled people’s paperwork and skipped required steps in the foreclosure process. Under the new settlement, people who were wrongfully foreclosed on could receive from $1,000 up to $125,000. Failing to offer someone a loan modification would be considered a lighter offense; unfairly seizing and selling a person’s home would entitle that person to the biggest payment, according to guidelines released last summer by the Office of the Comptroller of the Currency. Monday’s settlement was announced jointly by the OCC and the Federal reserve. ...

action agreement america assistance aurora billion chase citigroup comptroller corp currency curry direction emc enforcement fargo federal finance gmac hsbc independence jpmorgan metlife million modifications occ office payments pnc service services settlement statement suntrust thomas washington wells

Found more than 1 month ago on channel TIME Business
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Stealth spending on the rise as Election Day approaches

Thursday, October 18, 2012 - 13:45 Chip Somodevilla/Getty Images Romney campaign pins are on display for sale in the GOP gift shop during the third day of the Republican National Convention. The top two spending organizations taking advantage of the Citizens United decision are Republican backers. After the U.S. Supreme Court’s 2010 ruling that unleashed corporate and union spending on elections, there seemed to be a silver lining:  the identity of those who fund all those annoying ads would be revealed to the public on a regular basis. It hasn’t quite worked out that way. Since Labor Day, spending by outside groups taking advantage of the high court’s Citizens United decision totaled a little more than $229 million, including unions. Forty-four percent of the total — $100 million — has come from non-disclosing, nonprofit corporations. The clearest example comes from the top two spenders. Both organizations are Republican backers. And they also happen to share the same ...

action advocacy american americans anti-obama anti-romney barack obama california center chamber collaboration commerce commission congressional contran contributions convention corp corporation court crossroads decision democrat democratic district donations duckworth dunbar eighty-eight election fec federal forty-four frontline getty images gop government gps harold house identity ies illinois imagination integrity iraq john karl labor limited majority marcus missouri national office ohio organization pac pacs post-citizens president priority pro-obama pro-romney rachael republican romney rove sarah senate service simmons somodevilla stealth steelman story strategists super supreme tammy texas twenty-seven type united usa virginia washington wisconsin

Found more than 1 month ago on channel Marketplace.org
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The summer of super PAC money

Friday, September 21, 2012 - 12:39 AP Photo/Gerald Herbert President Barack Obama waves as he arrives to speak at a fundraiser at The House of Blues in New Orleans, Wednesday, July 25, 2012. Democratic super PACs have begun to make up ground in the political arms race, raising substantially more in August than they did during the previous month, new filings with the Federal Election Commission show. For much of the 2012 election cycle, Democratic super PACs have been outraised by their GOP rivals. The groups, made possible after the U.S. Supreme Court’s 2010  Citizens United  ruling , are allowed to collect contributions of unlimited size from individuals, unions and companies — so long as the funds are spent on advertisements that are not coordinated with any candidate. Priorities USA Action , the primary super PAC supporting the re-election of President Barack Obama, took in  $10.1 million  through the end of August. That’s up from $4.8 million in July. While the group finished ...

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Found more than 1 month ago on channel Marketplace.org
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