US Justice Department accuses Visa of illegal monopoly that adds to the price of ‘nearly everything’

[CaughtInThe]

US Justice Department accuses Visa of illegal monopoly that adds to the price of ‘nearly everything’​

https://www.cnn.com/2024/09/24/business/visa-doj-lawsuit?Date=20240924&Profile=cnnbrk&utm_content=1727203322&utm_medium=social&utm_source=twitter

“We allege that Visa has unlawfully amassed the power to extract fees that far exceed what it could charge in a competitive market,” Attorney General Merrick Garland said in a statement. “Merchants and banks pass along those costs to consumers, either by raising prices or reducing quality or service. As a result, Visa’s unlawful conduct affects not just the price of one thing – but the price of nearly everything.”



That's certainly true. Monopolies **** up so many things.

 

[bongsaway]

US Justice Department accuses Visa of illegal monopoly that adds to the price of ‘nearly everything’​

https://www.cnn.com/2024/09/24/business/visa-doj-lawsuit?Date=20240924&Profile=cnnbrk&utm_content=1727203322&utm_medium=social&utm_source=twitter

“We allege that Visa has unlawfully amassed the power to extract fees that far exceed what it could charge in a competitive market,” Attorney General Merrick Garland said in a statement. “Merchants and banks pass along those costs to consumers, either by raising prices or reducing quality or service. As a result, Visa’s unlawful conduct affects not just the price of one thing – but the price of nearly everything.”



That's certainly true. Monopolies **** up so many things.

It's just business. That's what I hear, nothing personal, actually very impersonal.

 

[Bum]

LOL.....We cannot secure the border, but this administration wants to secure the airports?

 

[TangoNoCash]

LOL.....We cannot secure the border, but this administration wants to secure the airports?

We could secure the border if we wanted to. It’s a choice not to and that’s been true for many decades now.

 

[dmpi]

Lets face it. Visa out competed master card, discover card and American Express fair and square. And now that they won the US justice dept is going after them. Nothing more than wealth redistribution for the private sector to the public sector.

 

[JasperL]

Lets face it. Visa out competed master card, discover card and American Express fair and square. And now that they won the US justice dept is going after them. Nothing more than wealth redistribution for the private sector to the public sector.

There's perhaps many decent responses to the lawsuit, but that doesn't appear to be one....

 

[ElChupacabra]

US Justice Department accuses Visa of illegal monopoly that adds to the price of ‘nearly everything’​

https://www.cnn.com/2024/09/24/business/visa-doj-lawsuit?Date=20240924&Profile=cnnbrk&utm_content=1727203322&utm_medium=social&utm_source=twitter

“We allege that Visa has unlawfully amassed the power to extract fees that far exceed what it could charge in a competitive market,” Attorney General Merrick Garland said in a statement. “Merchants and banks pass along those costs to consumers, either by raising prices or reducing quality or service. As a result, Visa’s unlawful conduct affects not just the price of one thing – but the price of nearly everything.”



That's certainly true. Monopolies **** up so many things.

Good that someone is taking this on because those transaction fees most definitely get passed on to the consumer.

 

[nvflash]

US Justice Department accuses Visa of illegal monopoly that adds to the price of ‘nearly everything’​

https://www.cnn.com/2024/09/24/business/visa-doj-lawsuit?Date=20240924&Profile=cnnbrk&utm_content=1727203322&utm_medium=social&utm_source=twitter

“We allege that Visa has unlawfully amassed the power to extract fees that far exceed what it could charge in a competitive market,” Attorney General Merrick Garland said in a statement. “Merchants and banks pass along those costs to consumers, either by raising prices or reducing quality or service. As a result, Visa’s unlawful conduct affects not just the price of one thing – but the price of nearly everything.”



That's certainly true. Monopolies **** up so many things.

Where the hell has AG Garland been for the last 30 years?

Now he grows and spine and goes after VISA, we need a Federal system of electronic payments, not private networks "competing" to rob us blind.

The money system, and how that money is exchanged is Federal Jurisdiction if anything is, but no, they'll gladly feed us to the wolves and only turn on VISA at election time.

The government's primary function in a free society is to keep fraud out of the marketplace, in all it's forms.

Government is helping the fraud, on all levels.

 

[ClaraD]

US Justice Department accuses Visa of illegal monopoly that adds to the price of ‘nearly everything’​

https://www.cnn.com/2024/09/24/business/visa-doj-lawsuit?Date=20240924&Profile=cnnbrk&utm_content=1727203322&utm_medium=social&utm_source=twitter

“We allege that Visa has unlawfully amassed the power to extract fees that far exceed what it could charge in a competitive market,” Attorney General Merrick Garland said in a statement. “Merchants and banks pass along those costs to consumers, either by raising prices or reducing quality or service. As a result, Visa’s unlawful conduct affects not just the price of one thing – but the price of nearly everything.”



That's certainly true. Monopolies **** up so many things.

We have Visa, MC and AE so not a monopoly, but they certainly charge fees on everything

 

[ClaraD]

Where the hell has AG Garland been for the last 30 years?

Now he grows and spine and goes after VISA, we need a Federal system of electronic payments, not private networks "competing" to rob us blind.

The money system, and how that money is exchanged is Federal Jurisdiction if anything is, but no, they'll gladly feed us to the wolves and only turn on VISA at election time.

The government's primary function in a free society is to keep fraud out of the marketplace, in all it's forms.

Government is helping the fraud, on all levels.

He’s not been AG for 30 years

 

[ClaraD]

Lets face it. Visa out competed master card, discover card and American Express fair and square. And now that they won the US justice dept is going after them. Nothing more than wealth redistribution for the private sector to the public sector.

Sorry, monopolies are illegal in the USA

 

[nvflash]

Sorry, monopolies are illegal in the USA

Monopolies are NOT illegal in the USA, it's the anti competitive behaviors that are illegal, except for MLB, and Bell/AT&T before the 1980's.

Government grants monopolies all the time, when they feel that is what is best for the public good.

From time to time, it then breaks up those monopolies to see if competition can drive prices down and innovation up.

My point it there should not be a price for transferring digital dollars from the buyer to the seller, there should not be a private company in charge of that computer system.

We don't need to go after VISA in the courts, we need to go after them from the Fed. The Fed needs to have its own system for this, and the Fed can pay for it out of it's profits.

Fed profits less operating expenses and a small dividend for its member banks revert to the US Treasury anyway. So the upkeep of the system would just become part of the Fed's operation, and a little less money would revert to the people's treasury to pay for it.

We'd still be paying for it, but only at cost, not to enrich Wall St companies like VISA.

 

[Napoleon]

Monopolies are NOT illegal in the USA, it's the anti competitive behaviors that are illegal, except for MLB, and Bell/AT&T before the 1980's.

Government grants monopolies all the time, when they feel that is what is best for the public good.

From time to time, it then breaks up those monopolies to see if competition can drive prices down and innovation up.

My point it there should not be a price for transferring digital dollars from the buyer to the seller, there should not be a private company in charge of that computer system.

We don't need to go after VISA in the courts, we need to go after them from the Fed. The Fed needs to have its own system for this, and the Fed can pay for it out of it's profits.

Fed profits less operating expenses and a small dividend for its member banks revert to the US Treasury anyway. So the upkeep of the system would just become part of the Fed's operation, and a little less money would revert to the people's treasury to pay for it.

We'd still be paying for it, but only at cost, not to enrich Wall St companies like VISA.

The Fed released an alternative to ACH last year but no one is biting because it isn’t an adequate competitor.

 

[dmpi]

Monopolies are NOT illegal in the USA, it's the anti competitive behaviors that are illegal, except for MLB, and Bell/AT&T before the 1980's.

Government grants monopolies all the time, when they feel that is what is best for the public good.

From time to time, it then breaks up those monopolies to see if competition can drive prices down and innovation up.

My point it there should not be a price for transferring digital dollars from the buyer to the seller, there should not be a private company in charge of that computer system.

We don't need to go after VISA in the courts, we need to go after them from the Fed. The Fed needs to have its own system for this, and the Fed can pay for it out of it's profits.

Fed profits less operating expenses and a small dividend for its member banks revert to the US Treasury anyway. So the upkeep of the system would just become part of the Fed's operation, and a little less money would revert to the people's treasury to pay for it.

We'd still be paying for it, but only at cost, not to enrich Wall St companies like VISA.

You're right. Just like the Fed controls paper money and regulates banking they should be doing far more with regards to electronic currency. The trouble is the goverment can set up the system but they're not good at actually implementing it and getting the public to use it and be comfortable with it. Yes Visa charges an high fee to the vendors but they did all the work marketing visa cards, putting them into the hands of the consumers, getting vendors to set up the point-of-sale box where they swipe their cards. Making all the electronic, networking and banking all work together. It's just well beyond what the goverment can do.
Another area that the goverment should do more is providing positive ID so we can once and for all prove you are who you say you are. Potentially this could be the role of the Post Office after all they already control and own your address.

 

[ClaraD]

Monopolies are NOT illegal in the USA, it's the anti competitive behaviors that are illegal, except for MLB, and Bell/AT&T before the 1980's.

Government grants monopolies all the time, when they feel that is what is best for the public good.

From time to time, it then breaks up those monopolies to see if competition can drive prices down and innovation up.

My point it there should not be a price for transferring digital dollars from the buyer to the seller, there should not be a private company in charge of that computer system.

We don't need to go after VISA in the courts, we need to go after them from the Fed. The Fed needs to have its own system for this, and the Fed can pay for it out of it's profits.

Fed profits less operating expenses and a small dividend for its member banks revert to the US Treasury anyway. So the upkeep of the system would just become part of the Fed's operation, and a little less money would revert to the people's treasury to pay for it.

We'd still be paying for it, but only at cost, not to enrich Wall St companies like VISA.

You’re wrong

Section 2 of the Sherman Act makes it unlawful for any person to "monopolize, or attempt to monopolize, or combine or conspire with any other person or persons, to monopolize any part of the trade or commerce among the several States, or with foreign nations . . . ."

 

[Grizzly Adams]

we need a Federal system of electronic payments

There is no provision in the Constitution for the federal government to take on this role.

Even beyond that, the federal government has no business getting between me and my merchants. They have no business knowing every transaction I make, with whom, and for what.

They can butt the **** on out.

 

[TobyOne]

It does. It charges a fee for their service. Who is the Justice Department run by? Rtards?

 

[EnigmaO01]

US Justice Department accuses Visa of illegal monopoly that adds to the price of ‘nearly everything’​

https://www.cnn.com/2024/09/24/business/visa-doj-lawsuit?Date=20240924&Profile=cnnbrk&utm_content=1727203322&utm_medium=social&utm_source=twitter

“We allege that Visa has unlawfully amassed the power to extract fees that far exceed what it could charge in a competitive market,” Attorney General Merrick Garland said in a statement. “Merchants and banks pass along those costs to consumers, either by raising prices or reducing quality or service. As a result, Visa’s unlawful conduct affects not just the price of one thing – but the price of nearly everything.”



That's certainly true. Monopolies **** up so many things.

So what is the justice department going to of about it? Wag a finger?

A guy robs a bank and gets 10 to 25 years in prison, but a corporation robs the consumer for millions and gets an admonition or a fine?

 

[Revelation]

Where the hell has AG Garland been for the last 30 years?

Now he grows and spine and goes after VISA, we need a Federal system of electronic payments, not private networks "competing" to rob us blind.

wow, how Prophetic.......ever hear of CBDC

yep, that is what IS coming. digital currency, glad you asked.

any more questions?

The money system, and how that money is exchanged is Federal Jurisdiction if anything is, but no, they'll gladly feed us to the wolves and only turn on VISA at election time.

The government's primary function in a free society is to keep fraud out of the marketplace, in all it's forms.

Government is helping the fraud, on all levels.

 

[Napoleon]

So what is the justice department going to of about it? Wag a finger?

A guy robs a bank and gets 10 to 25 years in prison, but a corporation robs the consumer for millions and gets an admonition or a fine?

I share the frustration, but who gets tossed in the clink? The cubicle dweller? The shareholders? If I look at something like the massive fraud perpetrated by Wells Fargo - it’s a criminal conspiracy involving thousands of employees. Do they all go to jail?

 

[Revelation]

Monopolies are NOT illegal in the USA, it's the anti competitive behaviors that are illegal, except for MLB, and Bell/AT&T before the 1980's.

ha, ha,

the biggest corporations et al are owned by the BIGGEST corporations.........i.e. Blackrock, Vanguard, Statestreet ring a bell people???

come on now, somebody here know about this.......and don't pretend i am the only one now. groan.

did someone note anything about Blackrock and Trillions of dollars perhaps? just asking.

Government grants monopolies all the time, when they feel that is what is best for the public good.

From time to time, it then breaks up those monopolies to see if competition can drive prices down and innovation up.

My point it there should not be a price for transferring digital dollars from the buyer to the seller, there should not be a private company in charge of that computer system.

We don't need to go after VISA in the courts, we need to go after them from the Fed. The Fed needs to have its own system for this, and the Fed can pay for it out of it's profits.

Fed profits less operating expenses and a small dividend for its member banks revert to the US Treasury anyway. So the upkeep of the system would just become part of the Fed's operation, and a little less money would revert to the people's treasury to pay for it.

We'd still be paying for it, but only at cost, not to enrich Wall St companies like VISA.

 

[Revelation]

There is no provision in the Constitution for the federal government to take on this role.

they do any way.

the first phase of this is 'Fed now' banking system. completed last year.

the next phase is CBDC, already in china and coming here.

central bank digital currency folks. don't forget 'Blockchain' so we can track everything you buy or sell. nice huh?


meh just look it up on line or in Video...

Even beyond that, the federal government has no business getting between me and my merchants.

ok. well kiss that good bye...........hello CBDC/block chain, wanna talk to the forum here about Control?

They have no business knowing every transaction I make, with whom, and for what.

but they will. with CBDC/blockchain they will know EVERY thing you buy or sell.........and will limit what you can buy or sell.

nice of you to ask. well you got your answer huh?

They can butt the **** on out.

no they tell YOU, you don't tell the Central Banking system anything. not. one. word.

bye.

.

 

[nvflash]

ha, ha,

the biggest corporations et al are owned by the BIGGEST corporations.........i.e. Blackrock, Vanguard, Statestreet ring a bell people???

come on now, somebody here know about this.......and don't pretend i am the only one now. groan.

did someone note anything about Blackrock and Trillions of dollars perhaps? just asking.

You people want the government to help us, but you won't support any plan that actually stops the fraud.

Man created goverMINT to govern the MINT( money system ), but they just started stealing from us and telling us what to do instead.

They won't stop the fraud, they just want their cut of the fraud.

Put me in charge for 4 years and I'll stop all the fraud and end all income taxes. I'll make fuel, homes and cars affordable to working class people again, and fix the CO2 problems too, and if I don't do every one of those things to your personal liking, at the end of those 4 years, you can have my head.

Trust me, I'd rather lose my head, than work just to lose my ass.

 

[nvflash]

they do any way.

the first phase of this is 'Fed now' banking system. completed last year.

the next phase is CBDC, already in china and coming here.

central bank digital currency folks. don't forget 'Blockchain' so we can track everything you buy or sell. nice huh?


meh just look it up on line or in Video...


View attachment 67534531



ok. well kiss that good bye...........hello CBDC/block chain, wanna talk to the forum here about Control?




but they will. with CBDC/blockchain they will know EVERY thing you buy or sell.........and will limit what you can buy or sell.

nice of you to ask. well you got your answer huh?





no they tell YOU, you don't tell the Central Banking system anything. not. one. word.

bye.

.

The problem is not with the system, but the people running the system.

Too many lawyers, not enough common sense.

We keep accepting the fraud.

 

[Metric Mouse]

Biden big mad he got charged extra for his ice cream....