Assistant Attorney General Jonathan Kanter addressed the first public meeting of the Strike Force on Unfair and Illegal Pricing, emphasizing the Justice Department's commitment to holding corporations accountable for exploitative practices.
"The purpose of this strike force — to 'mak[e] sure corporations are held accountable when they try to rip off Americans' — rhymes with the mission of the Antitrust Division," Kanter stated.
He highlighted Congress's foresight 130 years ago in recognizing that vigorous antitrust enforcement is crucial for lowering prices, spurring innovation, and promoting sound business practices while punishing wrongdoers.
Kanter recounted his nomination by the President and confirmation by the Senate during a time when pandemic-related economic disruptions were still prevalent. He shared insights from conversations with various Americans who expressed frustration over economic pressures and a desire for tangible action rather than empty promises.
In response, Kanter noted that the Antitrust Division took significant steps to address these concerns. He outlined eight specific actions aimed at protecting consumers and ensuring fair market practices:
1. **Health Care**: The division blocked acquisitions by major health insurers to prevent monopolistic practices.
2. **College Tuition**: It intervened in financial aid price-fixing cases, resulting in settlements that returned money to affected students.
3. **Housing**: Efforts were made to protect consumers from unfair real estate practices.
4. **Income and Wages**: The division prosecuted no-poach and wage-fixing cases, securing criminal convictions against employers.
5. **Airfare**: Two airline mergers were blocked to maintain competitive pricing.
6. **Groceries**: The division acted against mergers that would increase food prices.
7. **Supply Chain**: Mergers involving ocean shipping companies were prevented to stabilize supply chain costs.
8. **Concert Fees**: Enforcement actions were taken against rising concert ticket fees under the Sherman Act.
Kanter emphasized that while aggressive enforcement will continue against law violators, opportunities remain for honest businesses to thrive in a competitive market free from predatory monopolies.
"My colleagues are undeterred," he affirmed, praising the dedication of Antitrust Division staff despite facing well-resourced adversaries.
He concluded by commending the division's professionals for their relentless efforts in enforcing laws and reducing prices for hardworking Americans.