2024

The odds are excellent that you will leave this forum hating someone.
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RedFromMI
Posts: 5035
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Re: 2024

Post by RedFromMI »

DMac
Posts: 9057
Joined: Sun Sep 16, 2018 10:02 am

Re: 2024

Post by DMac »

LaxFan2311 wrote: Sat Jun 29, 2024 4:56 pm
Seacoaster(1) wrote: Sat Jun 29, 2024 4:53 pm Boycott Stupid.
Reported for name calling. It’s sad you can’t handle the truth when it comes to politics and you have to use name calling and personal insults. It’s very unbecoming of someone so holier than thou. Enjoy your Saturday!
Looks as if he to whom you "reported" said gfy, nothing to see here.
a fan
Posts: 18468
Joined: Mon Aug 06, 2018 9:05 pm

Re: 2024

Post by a fan »

DMac wrote: Sat Jun 29, 2024 9:06 pm
LaxFan2311 wrote: Sat Jun 29, 2024 4:56 pm
Seacoaster(1) wrote: Sat Jun 29, 2024 4:53 pm Boycott Stupid.
Reported for name calling. It’s sad you can’t handle the truth when it comes to politics and you have to use name calling and personal insults. It’s very unbecoming of someone so holier than thou. Enjoy your Saturday!
Looks as if he to whom you "reported" said gfy, nothing to see here.
Pete doesn't understand that the owner of the house makes the rules. He thinks this is a government-paid site, not a privately owned one.
LaxFan2311
Posts: 87
Joined: Thu Jun 27, 2024 9:35 pm

Re: 2024

Post by LaxFan2311 »

DMac wrote: Sat Jun 29, 2024 9:06 pm
LaxFan2311 wrote: Sat Jun 29, 2024 4:56 pm
Seacoaster(1) wrote: Sat Jun 29, 2024 4:53 pm Boycott Stupid.
Reported for name calling. It’s sad you can’t handle the truth when it comes to politics and you have to use name calling and personal insults. It’s very unbecoming of someone so holier than thou. Enjoy your Saturday!
Looks as if he to whom you "reported" said gfy, nothing to see here.
Reported as well. It’s insane to see Democrats come unhinged when facts are posted. Liberalism is a mental disorder as proven by this post.
Last edited by LaxFan2311 on Sat Jun 29, 2024 10:54 pm, edited 1 time in total.
LaxFan2311
Posts: 87
Joined: Thu Jun 27, 2024 9:35 pm

Re: 2024

Post by LaxFan2311 »

RedFromMI wrote: Sat Jun 29, 2024 8:21 pm
Yes - Trump was lying.

See:

https://www.nbcnews.com/health/health-n ... rcna159460
Biden’s lies during the debate. But he had a cold so we can excuse them!

1. "Suckers and losers" lie
2. "Hitler did good things" lie
3. "Fine people" lie
4. "My son died in Iraq" lie
5. "I capped insulin at $15" lie
6. "I capped Medicaid drug expenses at $200" lie
7. "Retaliation" lie
8. "Trump said he would be a dictator" lie
9. "No soldiers died on my watch" lie
10. "Border crossings fewer than Trump" lie
11. "Unemployment was 15% under Trump" lie
12. "Trump wants to get rid of Social Security" lie
13. "Billionaires pay 8.2% in taxes" lie
14. "Trump said inject bleach" lie
15. "Border patrol endorsed me" lie
User avatar
old salt
Posts: 17948
Joined: Fri Jul 27, 2018 11:44 am

Re: 2024

Post by old salt »

a fan wrote: Sat Jun 29, 2024 12:30 pm I can't think of a poster here who isn't going to get a fat tax cut from Trump when he arrives
That will be my first Trump tax cut. I agree with the SALT limit on deductions (in principle).
It drove me to the standard deduction, which increased my taxes owed.
...guess I should have bought an overpriced impractical EV, just to get a $7500 tax credit.
User avatar
old salt
Posts: 17948
Joined: Fri Jul 27, 2018 11:44 am

Re: 2024

Post by old salt »

June 28, 2024
Heather Cox Richardson
Jun 29, 2024

Somewhere in his discussion of Putin’s invasion of eastern Ukraine in February 2022, Trump said: “Putin saw that, he said, you know what, I think we’re going to go in and maybe take my—this was his dream. I talked to him about it, his dream.”

Special Counsel Robert Mueller’s 2019 report on Russian interference in the 2016 presidential election explained that Paul Manafort, Trump’s campaign manager and then conduit to Russian operatives, in summer 2016 “discussed a plan to resolve the ongoing political problems in Ukraine by creating an autonomous republic in its more industrialized eastern region of Donbas, and having [Viktor] Yanukovych, the Ukrainian President ousted in 2014, elected to head that republic.”

Manafort had helped to get the pro-Russian oligarch Yanukovych into office, and when Yanukovych fled to Russia after the Ukrainian people threw him out, Manafort was left unemployed and in debt to other oligarchs. When he went to work for Trump, for free, he promptly wrote to his partner Konstantin Kilimnik, whom the Republican-dominated Senate Intelligence Committee identified in 2020 as a Russian operative, asking how “we” could use the appointment “to get whole,” and made sure that the Russian oligarch to whom he owed the most money knew about his close connection with the Trump campaign (p. 135).

The Mueller Report continued: “That plan, Manafort later acknowledged, constituted a ‘backdoor’ means for Russia to control eastern Ukraine” (p. 140). The region that Putin wanted was the country’s industrial heartland. He was offering a “peace” plan that carved off much of Ukraine and made it subservient to him. This was the dead opposite of U.S. policy for a free and united Ukraine, and there was no chance that former secretary of state Hillary Clinton, who was running for the presidency against Trump, would stand for it. But if only Trump were elected….

And, in November 2016, he was.

According to the Republican-dominated Senate Intelligence Committee, Manafort’s partner and Russian operative Kilimnick wrote that "[a]ll that is required to start the process is a very minor 'wink' (or slight push) from D[onald] T[rump] saying 'he wants peace in Ukraine and Donbass back in Ukraine' and a decision to be a 'special representative' and manage this process." Following that, Kilimnik suggested that Manafort ‘could start the process and within 10 days visit Russia ([Yanukovych] guarantees your reception at the very top level, cutting through all the bullsh*t and getting down to business), Ukraine, and key EU capitals.’ The email also suggested that once then–Ukrainian President Petro Poroshenko understood this ‘message’ from the United States, the process ‘will go very fast and DT could have peace in Ukraine basically within a few months after inauguration’” (p. 99).

According to the Senate Intelligence Committee, the men continued to work on what they called the “Mariupol Plan” at least until 2018.

In last night’s debate, Trump insisted that Putin never would have invaded Ukraine on his watch (although Putin in fact continued his 2014 assault during Trump’s term, and Trump tried to withhold support for Ukraine).

After Russia invaded Ukraine again in 2022, Jim Rutenberg published a terrific and thorough review of this history in the New York Times Magazine, pointing out that Putin’s attack on Ukraine looked different with this history behind it. Once Biden took office in 2021, the many efforts of the people around Trump, including most obviously Rudy Giuliani, to influence Ukrainian politics through their ties to the White House were over.

“Thirteen months later,” Rutenberg wrote, “Russian tanks crossed the Ukrainian frontier.” Once his troops were there, Putin claimed he had annexed Donetsk, Luhansk, Zaporizhzhia, and Kherson, two of which were specifically named in the Mariupol Plan, and instituted martial law in them, claiming that the people there had voted to join Russia.

Last night, Trump claimed that the Ukrainians are losing the war and described how sad it was that their country is being destroyed (without mentioning that it is Putin’s unprovoked war that is doing that damage). He also significantly exaggerated how much money the U.S. has contributed to Ukraine’s defense.

That misrepresentation lines up with Putin’s offer of Friday, June 14, 2024, in a “peace proposal” to Ukraine: Ukraine would give up Donetsk, Luhansk, Zaporizhzhia, and Kherson, including far more territory than Putin’s troops occupy, in exchange for a ceasefire. Putin said, “If Kyiv and the Western capitals refuse it, as before, then in the end, that’s their…political and moral responsibility for the continuation of bloodshed.” He also demanded an end to all sanctions and that Ukraine abandon its plan to join the North Atlantic Treaty Organization (NATO). (Ukraine president Volodymyr Zelensky rejected the plan and noted that there is no reason to think Putin will stop his land grab once his forces regroup.)

So when Trump last night said about the 2022 invasion, “Putin saw that, he said, you know what, I think we’re going to go in and maybe take my—this was his dream. I talked to him about it, his dream,” it sounded as if he had been in on the Mariupol Plan. And when he talked about how the war needed to end, especially in light of Putin’s recent “peace” plan, it sounded as if perhaps he still is.
Oh goodie goodie ! Russia, Russia, Russia reprised.

So tell us Heather. What happened to Manafort's Mariupol Plan ? If Trump was in on it, why did Putin wait 'til Trump left office to invade ? ...after Trump had spent 4 yrs training & arming Ukraine to defend themselves.

Maybe Trump heard what Putin had to say about NATO's encroachment & he assured Putin that it would not happen on his watch.

During Biden's term -- Putin's going to get his Mariupol Plan, after all. ...& look at the cost in lost lives & treasure.
It will take decades to rebuild Ukraine & generations to restore their lost population.
ggait
Posts: 4165
Joined: Fri Aug 31, 2018 1:23 pm

Re: 2024

Post by ggait »

a fan wrote: Sat Jun 29, 2024 9:14 pm
DMac wrote: Sat Jun 29, 2024 9:06 pm
LaxFan2311 wrote: Sat Jun 29, 2024 4:56 pm
Seacoaster(1) wrote: Sat Jun 29, 2024 4:53 pm Boycott Stupid.
Reported for name calling. It’s sad you can’t handle the truth when it comes to politics and you have to use name calling and personal insults. It’s very unbecoming of someone so holier than thou. Enjoy your Saturday!
Looks as if he to whom you "reported" said gfy, nothing to see here.
Pete doesn't understand that the owner of the house makes the rules. He thinks this is a government-paid site, not a privately owned one.
So is 2311 the latest nom de plume for Petey Brown?
Boycott stupid. If you ignore the gator troll, eventually he'll just go back under his bridge.
a fan
Posts: 18468
Joined: Mon Aug 06, 2018 9:05 pm

Re: 2024

Post by a fan »

ggait wrote: Sun Jun 30, 2024 2:13 am
a fan wrote: Sat Jun 29, 2024 9:14 pm
DMac wrote: Sat Jun 29, 2024 9:06 pm
LaxFan2311 wrote: Sat Jun 29, 2024 4:56 pm
Seacoaster(1) wrote: Sat Jun 29, 2024 4:53 pm Boycott Stupid.
Reported for name calling. It’s sad you can’t handle the truth when it comes to politics and you have to use name calling and personal insults. It’s very unbecoming of someone so holier than thou. Enjoy your Saturday!
Looks as if he to whom you "reported" said gfy, nothing to see here.
Pete doesn't understand that the owner of the house makes the rules. He thinks this is a government-paid site, not a privately owned one.
So is 2311 the latest nom de plume for Petey Brown?
Yup. He's bored, and the elections are coming.

So he's here because (checks notes) Petey thinks that the demographics of former lacrosse players and parents of players are likely proletarian far lefties.....and he's here to troll because he doesn't understand that (checks notes) nearly every poster here is a top earner in the US, and Trump is about to hand us all big fat tax breaks....again.

All while Trump's working class base falls further behind. If that's what Pete wants? Works for me.
a fan
Posts: 18468
Joined: Mon Aug 06, 2018 9:05 pm

Re: 2024

Post by a fan »

old salt wrote: Sun Jun 30, 2024 1:12 am
a fan wrote: Sat Jun 29, 2024 12:30 pm I can't think of a poster here who isn't going to get a fat tax cut from Trump when he arrives
That will be my first Trump tax cut. I agree with the SALT limit on deductions (in principle).
It drove me to the standard deduction, which increased my taxes owed.
...guess I should have bought an overpriced impractical EV, just to get a $7500 tax credit.
No, you got his tax cut....how's your stock portfolio? Fat, right? Mine, too.

That's what happens when Trump cuts corporate taxes...you forgetting about those?

Pity that TrumpNation doesn't own stocks, and that the top 10% earners like you and me hold 93% of all US stocks. Oh well, right?
User avatar
old salt
Posts: 17948
Joined: Fri Jul 27, 2018 11:44 am

Re: 2024

Post by old salt »

a fan wrote: Sun Jun 30, 2024 2:49 am
old salt wrote: Sun Jun 30, 2024 1:12 am
a fan wrote: Sat Jun 29, 2024 12:30 pm I can't think of a poster here who isn't going to get a fat tax cut from Trump when he arrives
That will be my first Trump tax cut. I agree with the SALT limit on deductions (in principle).
It drove me to the standard deduction, which increased my taxes owed.
...guess I should have bought an overpriced impractical EV, just to get a $7500 tax credit.
No, you got his tax cut....how's your stock portfolio? Fat, right? Mine, too.

That's what happens when Trump cuts corporate taxes...you forgetting about those?

Pity that TrumpNation doesn't own stocks, and that the top 10% earners like you and me hold 93% of all US stocks. Oh well, right?
Portfolio slimmed down significantly, thanks to Biden.
An unprecedented jihad by Biden's DEI star FTC Chair reduced my portfolio value by 7 figures.
...& in the process delayed (likely by years) bringing a life saving cancer technology to market.
https://www.linkedin.com/posts/economic ... 4337-Z0-Z/

https://www.wsj.com/articles/federal-tr ... cle_inline
The FTC’s Unholy Antitrust Grail
The agency overrules its own law judge to block Illumina’s acquisition.

by The Editorial Board, April 3, 2023

The Federal Trade Commission on Monday overruled its own in-house judge and ordered gene-sequencing giant Illumina to divest cancer blood-test startup Grail. FTC Chair Lina Khan is showing that the agency’s administrative trials are a sham. Heads the agency wins, tails businesses lose.

A FTC judge in September issued a 203-page opinion rejecting the agency’s complaint that alleged the Grail acquisition would harm potential competitors in the embryonic market for multi-cancer early detection tests. Grail currently has no competitors, and the FTC complaint relies on speculative theories.

Illumina makes the platforms that are used to run Grail and other genetic screening tests. Its scientists developed Grail’s technology before the company spun off the startup in 2016. As the Grail test improved and became commercially viable, Illumina sought to reacquire Grail and closed its acquisition in August 2021.

Grail claims its test can detect the 12 most deadly cancers with 76% accuracy and has a false positive rate of less than 1%. Earlier detection of aggressive cancers could save thousand of lives a year. Illumina says it can bring the test to market faster owing to its relationships with insurers and reduce the price, now about $949 out of pocket.

But some companies that were interested in buying Grail or that were developing their own cancer tests complained to the FTC that Illumina would thwart rivals. This was the gist of the FTC complaint, which the agency’s in-house judge dismissed after a detailed analysis of the facts. Administrative law judges are rarely so scathing.

“The Clayton Act protects competition, not competitors,” FTC chief administrative law judge D. Michael Chappell wrote, emphasizing that “antitrust theory and speculation cannot trump facts.” He concluded that the FTC had failed to prove its case that Illumina had the ability and incentive to help Grail to the disadvantage of alleged rivals.

For Illumina to divert sales from multi-cancer early detection rivals to Grail, other “test developers would have to have sales in the first place,” he explained. But none do. He also noted that Illumina had offered a contractual commitment to provide access to its products to all of its future oncology testing customers equivalent to that it provides to Grail.

The FTC commissioners disagreed with the judge 4-0 and ordered Illumina to unwind its Grail acquisition. Republican Commissioner Christine Wilson wrote in a concurrence that she disagreed with some of her colleagues’ legal analysis, but she didn’t believe Illumina had met its burden of proof to show the government’s competition theory was improbable.

Ms. Khan seems to be trying to make an example out of Illumina by ordering the company to pay “transition assistance” to Grail’s next acquirer plus expenses of a government-appointed special monitor to ensure that it complies with the divestiture order. The tacit message to other businesses is don’t dare consummate a merger that the agency challenges.

The FTC could have gone to federal court to try to stop the acquisition. Instead it challenged the deal in its administrative tribunal where it no doubt believed it was more likely to win because it almost always does. Yet after losing, it has now overruled its own judge. What was the purpose of the administrative trial if the FTC could ignore the judge’s findings and do whatever it wants anyway?

That’s a good question for the independent federal courts. Illumina plans to appeal the divestiture order in federal appellate court where it will have the opportunity to raise several constitutional challenges to the FTC’s authority and administrative proceeding that it had earlier raised before the commission. This could get interesting, and the FTC may come to regret its hell-bent effort to stop mergers by whatever means possible.
User avatar
cradleandshoot
Posts: 14539
Joined: Fri Oct 05, 2018 4:42 pm

Re: 2024

Post by cradleandshoot »

a fan wrote: Sun Jun 30, 2024 2:49 am
old salt wrote: Sun Jun 30, 2024 1:12 am
a fan wrote: Sat Jun 29, 2024 12:30 pm I can't think of a poster here who isn't going to get a fat tax cut from Trump when he arrives
That will be my first Trump tax cut. I agree with the SALT limit on deductions (in principle).
It drove me to the standard deduction, which increased my taxes owed.
...guess I should have bought an overpriced impractical EV, just to get a $7500 tax credit.
No, you got his tax cut....how's your stock portfolio? Fat, right? Mine, too.

That's what happens when Trump cuts corporate taxes...you forgetting about those?

Pity that TrumpNation doesn't own stocks, and that the top 10% earners like you and me hold 93% of all US stocks. Oh well, right?
Ain't that the objective of our stock portfolios? I didn't invest all that money to lose my shirt. Are you trying to say that we would be better off if we lost money on our portfolios?
I use to be a people person until people ruined that for me.
njbill
Posts: 7117
Joined: Thu Aug 09, 2018 1:35 am

Re: 2024

Post by njbill »

Early post-debate poll results indicate that the needle didn’t get moved in either direction much at all. Really not surprising as, while the media goes nuts over debates, they never really impact elections all that much.

Poll questions such as “who won the debate,” “who will do better on the economy,” “who will be stronger on the border,” “how many women and girls do you think Trump has raped” may be interesting, but there is only one poll question that matters: who are you going to vote for?

Interesting that the Philadelphia Inquirer editorial board has called on Trump to withdraw from the race. Yes, Trump, not Biden.

https://www.inquirer.com/opinion/editor ... 40629.html
DMac
Posts: 9057
Joined: Sun Sep 16, 2018 10:02 am

Re: 2024

Post by DMac »

LaxFan2311 wrote: Sat Jun 29, 2024 10:48 pm
DMac wrote: Sat Jun 29, 2024 9:06 pm
LaxFan2311 wrote: Sat Jun 29, 2024 4:56 pm
Seacoaster(1) wrote: Sat Jun 29, 2024 4:53 pm Boycott Stupid.
Reported for name calling. It’s sad you can’t handle the truth when it comes to politics and you have to use name calling and personal insults. It’s very unbecoming of someone so holier than thou. Enjoy your Saturday!
Looks as if he to whom you "reported" said gfy, nothing to see here.
Reported as well. It’s insane to see Democrats come unhinged when facts are posted. Liberalism is a mental disorder as proven by this post.
Nice, so it looks as if the score is, posters in sin bin-0,
gfy, nothing to see here-2.
Keep swingin'.
LaxFan2311
Posts: 87
Joined: Thu Jun 27, 2024 9:35 pm

Re: 2024

Post by LaxFan2311 »

DMac wrote: Sun Jun 30, 2024 9:05 am
LaxFan2311 wrote: Sat Jun 29, 2024 10:48 pm
DMac wrote: Sat Jun 29, 2024 9:06 pm
LaxFan2311 wrote: Sat Jun 29, 2024 4:56 pm
Seacoaster(1) wrote: Sat Jun 29, 2024 4:53 pm Boycott Stupid.
Reported for name calling. It’s sad you can’t handle the truth when it comes to politics and you have to use name calling and personal insults. It’s very unbecoming of someone so holier than thou. Enjoy your Saturday!
Looks as if he to whom you "reported" said gfy, nothing to see here.
Reported as well. It’s insane to see Democrats come unhinged when facts are posted. Liberalism is a mental disorder as proven by this post.
Nice, so it looks as if the score is, posters in sin bin-0,
gfy, nothing to see here-2.
Keep swingin'.
And once again proving “no one is above the law” except for Democrats.

But that’s okay little man. Here’s the truth of what you stand for:

Your daily reminder of how pathetic and horrible the Democrat Party is:

The Democrat party is unrecognizable today. Democrats today support:

High inflation
Endless wars
Believe men can be women (What the heck) (why don’t Democrats trust the science of biology and bodily anatomy?)
Democrats think masking works and so do 12 booster shots for a COVID virus that is the flu. ( why don’t they trust the science here?!?)
Democrats support pornographic books being promoted and read to children in school.
Democrats support grooming of children.
Support open borders
Support illegal aliens over law abiding citizens
Support illegals replacing the American electorate to maintain power
High taxes on the middle class
Support enslaving black people to their causes. Democrats are the party of racism, slavery and the KKK. What good have Democrats ever done for black people besides keep them as slaves? Democrat policies have destroyed the black nuclear family and created a culture that glorifies violence. The vast majority of violent crime per capita is committed by black men. That’s all due to the Democrat Party replacing the breadwinner of the black family with government welfare.
Democrats Support pedophilia, incest and rape ( all things Biden has committed- he raped his own daughter and molested countless others with video and photographic evidence to prove it)
They support voter fraud and fraudulent elections to maintain power (fascism)
They support imprisoning their political opponents (fascist)
They support censoring free speech (fascism)
They support killing babies via abortion up to and after birth
Democrats support putting America and its citizens last.

The whole country knows that now after the debate Trump utterly destroyed Pedophile Joe Biden.

MAGA is about putting America First. Trump showed power, command and strength. He was under control and provided a sense of security for the country and its people. Voting for Trump means a return to normalcy and success for all Americans.

Have a great day!
DMac
Posts: 9057
Joined: Sun Sep 16, 2018 10:02 am

Re: 2024

Post by DMac »

Geezuz, you're clearly afflicted with brain deadness, 2311,
I've clearly stated that I'm not a Democrat. I do get it though,
Trump cultist's brains are so saturated with horseschidt and lies
it's hard for anything else to penetrate and sink in there.
Seacoaster(1)
Posts: 4780
Joined: Tue Mar 29, 2022 6:49 am

Re: 2024

Post by Seacoaster(1) »

DMac wrote: Sun Jun 30, 2024 9:54 am Geezuz, you're clearly afflicted with brain deadness, 2311,
I've clearly stated that I'm not a Democrat. I do get it though,
Trump cultist's brains are so saturated with horseschidt and lies
it's hard for anything else to penetrate and sink in there.
Sorry DMac, if you are not with them 110%, you are demonized. That's MAGA: bend the knee or death to you. It's a cult.
SCLaxAttack
Posts: 1694
Joined: Wed Aug 01, 2018 10:24 pm

Re: 2024

Post by SCLaxAttack »

Seacoaster(1) wrote: Sun Jun 30, 2024 10:05 am
DMac wrote: Sun Jun 30, 2024 9:54 am Geezuz, you're clearly afflicted with brain deadness, 2311,
I've clearly stated that I'm not a Democrat. I do get it though,
Trump cultist's brains are so saturated with horseschidt and lies
it's hard for anything else to penetrate and sink in there.
Sorry DMac, if you are not with them 110%, you are demonized. That's MAGA: bend the knee or death to you. It's a cult.
DMac, be proud. You think for yourself.
SCLaxAttack
Posts: 1694
Joined: Wed Aug 01, 2018 10:24 pm

Re: 2024

Post by SCLaxAttack »

old salt wrote: Sun Jun 30, 2024 3:28 am
a fan wrote: Sun Jun 30, 2024 2:49 am
old salt wrote: Sun Jun 30, 2024 1:12 am
a fan wrote: Sat Jun 29, 2024 12:30 pm I can't think of a poster here who isn't going to get a fat tax cut from Trump when he arrives
That will be my first Trump tax cut. I agree with the SALT limit on deductions (in principle).
It drove me to the standard deduction, which increased my taxes owed.
...guess I should have bought an overpriced impractical EV, just to get a $7500 tax credit.
No, you got his tax cut....how's your stock portfolio? Fat, right? Mine, too.

That's what happens when Trump cuts corporate taxes...you forgetting about those?

Pity that TrumpNation doesn't own stocks, and that the top 10% earners like you and me hold 93% of all US stocks. Oh well, right?
Portfolio slimmed down significantly, thanks to Biden.
An unprecedented jihad by Biden's DEI star FTC Chair reduced my portfolio value by 7 figures.
...& in the process delayed (likely by years) bringing a life saving cancer technology to market.
https://www.linkedin.com/posts/economic ... 4337-Z0-Z/

https://www.wsj.com/articles/federal-tr ... cle_inline
The FTC’s Unholy Antitrust Grail
The agency overrules its own law judge to block Illumina’s acquisition.

by The Editorial Board, April 3, 2023

The Federal Trade Commission on Monday overruled its own in-house judge and ordered gene-sequencing giant Illumina to divest cancer blood-test startup Grail. FTC Chair Lina Khan is showing that the agency’s administrative trials are a sham. Heads the agency wins, tails businesses lose.

A FTC judge in September issued a 203-page opinion rejecting the agency’s complaint that alleged the Grail acquisition would harm potential competitors in the embryonic market for multi-cancer early detection tests. Grail currently has no competitors, and the FTC complaint relies on speculative theories.

Illumina makes the platforms that are used to run Grail and other genetic screening tests. Its scientists developed Grail’s technology before the company spun off the startup in 2016. As the Grail test improved and became commercially viable, Illumina sought to reacquire Grail and closed its acquisition in August 2021.

Grail claims its test can detect the 12 most deadly cancers with 76% accuracy and has a false positive rate of less than 1%. Earlier detection of aggressive cancers could save thousand of lives a year. Illumina says it can bring the test to market faster owing to its relationships with insurers and reduce the price, now about $949 out of pocket.

But some companies that were interested in buying Grail or that were developing their own cancer tests complained to the FTC that Illumina would thwart rivals. This was the gist of the FTC complaint, which the agency’s in-house judge dismissed after a detailed analysis of the facts. Administrative law judges are rarely so scathing.

“The Clayton Act protects competition, not competitors,” FTC chief administrative law judge D. Michael Chappell wrote, emphasizing that “antitrust theory and speculation cannot trump facts.” He concluded that the FTC had failed to prove its case that Illumina had the ability and incentive to help Grail to the disadvantage of alleged rivals.

For Illumina to divert sales from multi-cancer early detection rivals to Grail, other “test developers would have to have sales in the first place,” he explained. But none do. He also noted that Illumina had offered a contractual commitment to provide access to its products to all of its future oncology testing customers equivalent to that it provides to Grail.

The FTC commissioners disagreed with the judge 4-0 and ordered Illumina to unwind its Grail acquisition. Republican Commissioner Christine Wilson wrote in a concurrence that she disagreed with some of her colleagues’ legal analysis, but she didn’t believe Illumina had met its burden of proof to show the government’s competition theory was improbable.

Ms. Khan seems to be trying to make an example out of Illumina by ordering the company to pay “transition assistance” to Grail’s next acquirer plus expenses of a government-appointed special monitor to ensure that it complies with the divestiture order. The tacit message to other businesses is don’t dare consummate a merger that the agency challenges.

The FTC could have gone to federal court to try to stop the acquisition. Instead it challenged the deal in its administrative tribunal where it no doubt believed it was more likely to win because it almost always does. Yet after losing, it has now overruled its own judge. What was the purpose of the administrative trial if the FTC could ignore the judge’s findings and do whatever it wants anyway?

That’s a good question for the independent federal courts. Illumina plans to appeal the divestiture order in federal appellate court where it will have the opportunity to raise several constitutional challenges to the FTC’s authority and administrative proceeding that it had earlier raised before the commission. This could get interesting, and the FTC may come to regret its hell-bent effort to stop mergers by whatever means possible.
I guess Trump's increasingly proud racism has opened the door for some of his closet followers to openly express their bigotry and racism. At least he didn't also say broad. Whatever happened to Randy Rad, or did he just hide it better?
User avatar
Kismet
Posts: 4563
Joined: Sat Nov 02, 2019 6:42 pm

Re: 2024

Post by Kismet »

old salt wrote: Sun Jun 30, 2024 3:28 am An unprecedented jihad by Biden's DEI star FTC Chair reduced my portfolio value by 7 figures.
Maybe your problem is with those in charge of your portfolio. ;)
Mine has been going up for quite some time now. Last two years of Orange Fatso it tanked.
:lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol:
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