Corporate Crime Reporter: Philip Mattera on Corporations Conspiring Against Competition
Good Jobs First’s Research Director Philip Mattera talked to the Corporate Crime Reporter about a report he recently authored, “Conspiring Against Competition: Illegal Corporate Price-Fixing in the U.S. Economy.”
Large companies operating in the United States have, since the beginning of 2000, paid $96 billion in fines and settlements to resolve allegations of covert price-fixing and related anti-competitive practices in violation of antitrust laws, the report found.
Illegal pricing conspiracies have occurred in a wide range of industries, affecting the cost of products ranging from everyday grocery items and auto parts to life-saving medications and electronic components. In industries such as financial services and pharmaceuticals, just about every major corporation (or a subsidiary) has been a defendant, often more than once. Banks, credit card companies and investment firms dominate the top tier, accounting for nine of the 10 most penalized corporations by total dollars.
Mattera talked about the for gathering the records used in the report, as well as what needs to be done to address the problems raised in the report.
Read the full story at the Corporate Crime Reporter.