Stock Ticker

  • Loading stock data...

Politicians Support Scrutiny And Control Of Alphabet Inc (NASDAQ:GOOG) And Facebook, Inc (NASDAQ:FB)

The partisan politicians in the United States always differ in terms of ideologies. However, their interest in controlling big technology companies makes them agree on one thing. They have plans to converge to check out the power of the various Silicon Valley giants. An official working with New Alphabet Inc (NASDAQ:GOOG) says the politicians intend to scrutinize business activities of such companies.

Politicians and their stand

Four Republicans and four Democrats, all attorneys in eight select states are in the frontline in the latest wave. This is according to the Democratic attorney general of New York called Letitia James. The official has also disclosed the involvement of the District of Columbia. He says that the parties have started investigations on Facebook, Inc (NASDAQ:FB) already.

The next one to be grilled is probably Google, and this indicates the strong stance of these state regulators. Another group of bipartisan politicians is also up and may on Monday pronounce a separate investigation on Google. However, the issues under investigation will be similar to those conducted on Facebook.

Focus on the companies

Two persons speaking from the point of anonymity disclosed that Attorney General Ken Paxton would be playing a lead role. Paxton is a Republican and the way bipartisan and the state inquiries coincide leaves much to be pondered. The Federal Trade Commission, Justice Department, House, and the Senate committees hope to understand more regarding the Washington tech giants soon.

Apple Inc (NASDAQ:AAPL), Amazon.com, Inc (NASDAQ:AMZN), Facebook, and Google are the topmost companies in the spotlight. The Federal officials are working on are committed to checking out the various practices of these businesses.

One unique thing about these business gurus is simply the way they have impacted Democrats and Republicans differently. Both sides have their reasons for the urge to pay focus on these companies. President Trump and several political conservatives are disappointed with the activities of these businesses. According to them, these business giants have for long discriminated against them. The Liberals on their own accord described the various online platforms as some policed conduits. They see them as advocates for the racism and the right-wing conspiracy theories.

Published by Fiona

Fiona is a finance graduate and an expert in analyzing market trends.

Recent Stories

Sponsored Content

Sign Up To Get Our Latest Stocks Alerts