1y ago

Capital One to acquire Discover Financial Services in $35.3 billion all-stock deal

www.cnbc.com

17 comments

God damn it. I have zero interest in doing business with CaptitalOne ever again.
Where's our antitrust laws, anyway?
- Because antitrust is bad for the stock market and politicians are heavily invested in the stock market.
  
  But I was told competition was good for the market.
- It's not for lack of trying on the federal trade commission's part. Biden admin has been fighting tons of mergers and courts keep deciding against them. We need better anti trust laws (and better judges wouldn't hurt too). They did manage to stop a few mergers at least, for instance against Lockheed Martin trying to acquire aerojet rocketdyne holdings, and Nvidia trying to acquire Arm, and the spirit jet blue merger. And they reopened their case against the Microsoft Activision merger after they violated their court agreements. I will be surprised if the FTC doesn't sue over this purchase of Discover.
  https://www.reuters.com/legal/us-keeps-losing-antitrust-court-battles-few-expect-pullback-2022-10-04/
- They might actually stop this one too. It's not approved yet. They just shut down spirit/ JetBlue merger.
- What's in your wallet?
  
  I don't get it, is this a Thing?
There aren’t many parallels for similar acquisitions in the financial industry, meaning that the Capital One-Discover deal will likely have broad implications for merger activity within the sector, said Schiff.
The billionaires are circling the wagons. Centralize all power and wealth. Squeeze every last bit of “value” out of the people.
Endless billion dollar mergers to consolidate more and more power.
- Did you see this?
  Magnificent 7 profits now exceed almost every country in the world. Should we be worried?
  https://www.cnbc.com/2024/02/19/magnificent-7-profits-now-exceed-almost-every-country-in-the-world-should-we-be-worried.html
That is huge
Repost
- Helpful

17 comments