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Hello and welcome. You are listening to Patrick Boyle on Finance, a podcast exploring ideas from

quantitative finance, examining events occurring in markets right now and financial history

to see what lessons can be taken away, including interviews

with some of the most interesting people in the world of finance. To learn more about the podcast,

visit onfinance.org.

American consumers are at risk of being deprived of the competition for affordable handbags.

Yes, you heard me right.

Lena Khan, Joe Biden's FTC Commissioner, who took office after saying that federal agencies have failed to do enough proper policing,

filed a lawsuit this week to block the accessible luxury

fashion conglomerate tapestry from buying a UK-based competitor Capri Holdings. Now look,

I can tell you guys are already about to click away from the video and I'm aware that my audience

is 98% male. And yes, I do agree with you guys that all handbags are the same.

But you know the way crypto bros think that all cryptocurrencies are different from each other,

and that they have different utility? Well, according to this FTC lawsuit, that's how some women feel about handbags. They don't necessarily

recognise that all handbags are exactly the same. The FTC has been a hive of activity

since Biden nominated the then 32-year-old Lena Kahn to chair the Federal Agency in 2021.

Khan, who rose to prominence after writing a viral law article in 2017 about Amazon's

economic dominance when she worked for the Think Tank New America Foundation, has lost

...