Unfair Visa/Mastercard paying off not to compete; Incoming Commerce Sec Howard Lutnick: balance bdgt

International Association of Convenience Store General Counsel Doug Kantor testifies on unfair competition practices by Visa and Mastercard by paying off other business not to compete with them in the credit card marketplace.

10/27/2024 Madison Square Garden rally, Howard Lutnick: “We are going to balance our budget. And when we balance our budget, the world is going to feel what it feels like to unleash the full power of the United States economy and its amazing workforce.”

https://www.facebook.com/HygoNewsUSA/videos/1674572550127563

Unfair Visa/Mastercard paying off not to compete; Incoming Commerce Sec Howard Lutnick: balance budget

Key Points

International Association of Convenience Store General Counsel Doug Kantor testifies on unfair competition practices by Visa and Mastercard by paying off other business not to compete with them in the credit card marketplace

• 10/27/2024 Madison Square Garden rally, Howard Lutnick: “We are going to balance our budget
• And when we balance our budget, the world is going to feel what it feels like to unleash the full power of the United States economy and its amazing workforce

Transcript Highlights

The following is transcribed from the video audio:

• How in the world can they maintain at a hearing today that there’s competition when they’re literally paying off the competition, not to compete with them
• We do have a commercial agreement with Apple
• It doesn’t have them to not compete with us
• We have an agreement where we share very sophisticated security technology that enables Apple Pay to work
• We have a commercial agreement that sort of governs that arrangement with Apple, but there’s nothing in that arrangement that impacts their ability to compete with us
• In fact, they’re free to compete with us, and we, in our view, they do
• The Harris Biden administration has set us up with a $6
• 5 trillion spending budget on our taxes of $4
• 5 trillion as they screw our children’s future to the wall
• We lose $2 trillion this year, $2 trillion, and Donald Trump is going to build the greatest team to ever walk into government, and we are going to balance our budget

Full transcript: 277 words transcribed via Whisper AI.