This is CBSI in the world. I'm John Batcher, the Federal Trade Commission. A favorite

of Professor Richard Epstein is here to comment on a recent news story about the FTC's

intervention in an acquisition. This headlines, FTC orders Illumina to divest 7.1 billion

acquisition of Cancer Test developer Grail. The Federal Trade Commission ordered Illumina

to divest controversial acquisition. Commission said the deal with stifle competition and innovation,

the decision reverses an administrative judge's September ruling. Richard, you've taught

me enough to know the FTC just reversed its own administrative judge. Yes, they said

they canceled themselves.

Well, I mean, first of all, it's a truly amazing sign that an administrative judge would

actually go against the commission, which filed the complaint to begin with. I read that

reporter, the pretty good report, all in all, and had a fairly close examination of the

record. And so, it essentially basically said, you can't do this. The commission that

brought the complaint then constituted itself as the adjudicated body that decided the

complaint. And they didn't really examine very closely any of the arguments that were

made by the administrative commission, but they decided to think the other way. So it's

the order of the investment. The first issue that you start to think about is, wait a second,

there's something deeply wrong about an administrator state that creates independent agencies that

are both prosecutors on the one hand and judges on the other hand. It's an obvious conflict

of interest. I've always thought that these half the organization trial court and all the

major agencies are absolutely unconstitutional. You need that kind of trial before an independent

body free of bias. I don't care whether it's a court that has specialized jurisdiction

in limited terms or whether it's an article three court, which are now actually strangely

...