What is the FTC and what does it do?

· Independent federal agency headed by 5 commissioners appointed by the president and approved by the senate.

· There are 7 year terms, no more than 3 from one political party, only a small % of the budget is spent on false ads.

· Established in 1914, to enforce anti-trust laws

· It is illegal to make a company too large

· FTC can examine and regulate false advertising