Treasury Secretary Steve Mnuchin Wants Justice Department To Scrutinize Big Tech (cnbc.com)

Posted by msmash on Monday May 21, 2018 @03:25AM from the urgent-attention-needed dept.

Treasury Secretary Steve Mnuchin on Monday joined the growing chorus of government officials concerned about tech monopolies. From a report: When asked if Google is a monopoly, Mnuchin said, "These are issues that the Justice Department needs to look at seriously -- not for any one company -- but obviously as these technology companies have a greater and greater impact on the economy, I think that you have to look at the power they have," Mnuchin told CNBC's "Squawk Box." Mnuchin acknowledged that antitrust matters don't fall under his jurisdiction, but said someone ought to be looking. His comments come on the heels of a "60 Minutes" segment on Google's unparalleled market share in online search. The Sunday night spot included an interview with Jeremy Stoppelman, co-founder of Yelp, which he said "would have no shot" if it were being built today.

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Worry about the banks first by sjbe · 2018-05-21 04:03 · Score: 5, Insightful

Treasury Secretary Steve Mnuchin on Monday joined the growing chorus of government officials concerned about tech monopolies.

How about the Treasury Secretary worry about banks that are a proven risk to the financial system first? The tech companies didn't cause a global recession within the last 10 years or require massive government bailouts or cheat people out of their homes and savings.