At first read, you would think that because MasterCard Inc. ® Shareholders approved the planned initial public offering (IPO) that would be good news. But, when you understand that the credit card association's shareholders are the 1,400 banks which own the credit card cartel, new questions arise.
Even the company's CEO indicated part of the reason for selling out to the public is to remedy its multi-billion dollar antitrust interchange fee litigation. This planned $2.5 billion IPO might hedge against future litigation, but does nothing against the price fixing class-action case going back to the early 1990's.
The Credit Card Interchange Report - WayTooHigh.com strives to raise significant attention during the due diligence process.
In addition to this link related to the MasterCard, Inc.® IPO, we are equally focused on these concerns:
1) Why does MasterCard® continue to not post mention of the scores of antitrust suits on its website?
2) Why would the public be interested in risking their capital on a this scheme to reduce the banks risk?
3) Click here for The Credit Card Interchange Report - WayTooHigh.com column on this issue.
[source: WayTooHigh.com]
