Fighting Corporateering
Google sees an Internet far more crowded with competitors than just a year ago. At least, that's what the company is telling government regulators. Critics of Google's dominance in search — Americans use Google for
about two thirds of U.S. searches, and the company has more than 70
percent of U.S. search advertising revenue, and about 90 percent in
Europe — say the expanded list of competitors is an attempt by Google
to paper over its dominance. "I think they are feeling the heat from several serious antitrust
investigations, and that's reflected in the language they are using in
the 10-K," said John Simpson, of Consumer Watchdog. He argued in a
recent blog post that Google's statements that it has many competitors
actually proves that "the opposite is actually true" and that "the real
risk to Google's business is not from competition," but that regulators
in the U.S. and Europe "will act in the interest of consumers and force
the Internet giant to engage" in competition.
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Thirteen years in the House and a stint as majority leader have furnished Rep.Roy Blunt, R-Mo., with useful GOP and K Street support for his Senate bid. But Blunt's long resume also means a boost from another source: Google. Google's overwhelming dominance of the search market has brought its
power to determine marketplace outcomes under new scrutiny this year.
Tech company Foundem and other so-called "search neutrality" advocates
allege that the search engine is gaining an unfair advantage by
favoring its own products in searches. The advocacy group Consumer
Watchdog wrote the Justice Department last week urging it to
investigate the issue, while the European Commission is already
checking out complaints from Foundem and others.
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The Senate might break its impasse on financial overhaul if it moves forward with a proposal that would put a consumer financial protection watchdog inside the Federal Reserve. "It's time for Senator Dodd to stop negotiating with Senators who have
dug into battle trenches with the big banks in their attempt to block
any meaningful consumer protections, and move a bill that will give the
rest of the Senate a chance to vote for Main Street and support real
reform," said Carmen Balber, Washington director for Consumer Watchdog,
an advocacy group.
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One of the nation's top banking regulators reiterated her
support for an independent agency to protect borrowers from predatory
lenders, putting her at odds with her fellow regulators and the
industry she oversees. "Granting the Fed consumer protection authority would create a lapdog
for Wall Street, not the watchdog consumers need," said Carmen Balber,
Washington Director for Consumer Watchdog, in a statement. "We can't
cross our fingers and hope the regulators whose failures caused the
crisis in consumer lending will do a better job for the public next
time around."
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Washington, DC – A leaked proposal by Senate Banking Committee
Chairman Chris Dodd to give consumer protection authority to the
Federal Reserve Board in financial reform legislation would be a total
capitulation to Wall Street lobbying, said Consumer Watchdog, and urged
Senate committee members to insist on a strong independent consumer
protection regulator or refuse to move a bill forward.
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The legislator, who has cultivated an image as a crusader for the marginalized and powerless, has also advocated for the powerful.
Pérez worked closely with fellow union executive Sean Harrigan, who said he
had been a Pérez mentor and who in 2000 was appointed to the board of
the California Public Employees Retirement System (CalPERS), the world's largest
pension fund. Consumer groups and government watchdogs were shocked by what the union
did next: raise more than $374,000 in political contributions from
investment firms doing business with CalPERS. "That's one step short of payola," said Doug Heller of the Santa Monica-based nonprofit group Consumer Watchdog.
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The
consumer advocacy group Consumer Watchdog wrote the Justice Department
Wednesday to urge it to investigate allegations that Google is
manipulating its search results to favor its own products.
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Earlier this month, the shopping comparison search engine myTriggers
brought an antitrust action against Google, alleging that the search giant unfairly lowered myTriggers' quality score. This
afternoon, the nonprofit Consumer Watchdog piled on. Consumer Watchdog
called for the Department of Justice to investigate whether Google "is
manipulating" search results by returning its own sites high in the
search results.
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WASHINGTON, DC — Consumer Watchdog today called upon the Justice
Department to ensure that its ongoing antitrust probe of Google’s
business practices include an investigation of whether the Internet
giant is manipulating its search results to favor its own products.
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Group Urges House Subcommittee to Expand Hearings, Investigate
Possible Insurer 'Shell Games' in Justifying Massive Premium Increases
Washington D.C. -- The House subcommittee grilling Blue Cross
chief executive Angela Braly today should expand its financial
examination of Blue Cross and its parent, Wellpoint, to include
billions of dollars in dividend transfers and no-bid "service
contracts" with affiliate companies, said Consumer Watchdog. Such
financial transfers may have been used in California to artificially
justify this year's 39% premium increases, said the nonprofit watchdog
organization.
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Recent Articles:
Google Identifies Competitors
By Mike Swift, THE SAN JOSE MERCURY NEWS
March 9, 2010
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Candidates Find Incumbent Advantage Extends To Web
By Sara Jerome, THE NATIONAL JOURNAL
March 4, 2010
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Senate Panel Mulls Consumer Protection Deal
By Jennifer Liberto, CNNMONEY.COM
March 2, 2010
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FDIC Chairman Sheila Bair Committed To Independent Consumer Agency
By Shahien Nasiripour, THE HUFFINGTON POST
March 2, 2010
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Dodd Proposal to Give The Federal Reserve Consumer Protection Authority Would Create An Industry Lapdog, Not A Public Watchdog
CONTACT: Carmen Balber, (202) 629-3043
March 2, 2010
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