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Priceless
- The Case That Brought Down the Visa/MasterCard Bank Cartel
- Narrated by: Alan Robertson
- Length: 8 hrs and 25 mins
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Editor reviews
Alan Robertson's smooth rumble quickly pulls listeners into the complex world of high-stakes litigation as he performs this true story about the biggest antitrust lawsuit in history. Attorney Lloyd Constantine provides an inside account of his battle against financial giants Visa and Mastercard to prove that millions of U.S. businesses were being illegally coerced into paying excessive fees every time a customer used a debit card. Robertson makes subtle changes to his cadence and timbre to heighten the suspense as Constantine navigates tense backroom meetings and hostile courtrooms, and listeners will be enthralled until Constantine brings his case to a close.
Summary
"He won't discuss money, but he now accepts Visa: Settlement, $3 billion, taking on MasterCard, Priceless."(The New York Times)
Lloyd Constantine began his career in legal services, representing impoverished clients in civil rights and constitutional cases. Decades later, he would make headlines for representing retailers and consumers against a cartel that undermined one of the fundamental tenets of commerce in America: competition. A man who thrives on competition himself, Constantine now gives us the insider's story on the biggest antitrust lawsuit in history - a case that pitted his small firm against financial-industry giants Visa and MasterCard, along with Clifford-Chance, the largest law firm in the world.
Combining the real-life legal drama of A Civil Action with the relentless pace of a John Grisham novel, Constantine delivers the definitive account of a case that made history and will be studied for years to come. Beginning in the 1980s, when Visa and MasterCard - whose combined market share topped 95 percent - announced the merger of their debit card networks, Priceless traces the fallout of this catastrophic union, from raised eyebrows among attorney generals to the launch of a major class-action lawsuit. For the five merchants initially represented by Constantine's firm (Wal-Mart, Sears, Circuit City, Safeway, and The Limited), the reality of the situation was clear: Millions of U.S. businesses were being illegally coerced in a scheme that forced excessive fees on merchants every time a customer used a debit card. When a $3.4 billion settlement was reached in 2003, the court estimated that the case would save stores and shoppers up to $87 billion in the first decade alone.
A suspense-filled story with a vibrant cast of characters - and a smoking-gun document known as "The Shark" - Priceless travels from corporate backrooms to the courtroom to capture one of America's biggest triumphs in the high-stakes world of antitrust litigation.
What listeners say about Priceless
Average customer ratingsReviews - Please select the tabs below to change the source of reviews.
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- Fehreen
- 15-08-24
Great to understand the history of the business model of Visa and Mastercard brands
A very detailed account of the trial, I enjoyed hearing about the preparation and learning of the economic and social changes contributing to the payment industry becoming what it is today.
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- James
- 30-05-23
Interesting but…
It was interesting and showed the process but I couldn’t have finding it mainly as an ego trip for the author. There was no humbleness on show for his great achievement
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- blair stevenson
- 03-04-24
Interesting - if a little grating at times
Interesting insight into a monumentous court case.
Major issue is the author can come across "look how unbelievably clever I am". I found this quite off-putting at times.
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- Fred
- 23-03-22
Interesting insight but story not brought to life
A fascinating insight into competition law and the politics of the judicial process. Fell short in the storytelling. Still, I learned a lot and I'm glad I listened to it.
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- Jane
- 14-12-22
Fascinating!
Even as a non-lawyer, I found all of the story comprehensible and absolutely fascinating. The issue at the heart of this matter is, in my opinion, one of the biggest threats to our society. I felt heartened to learn that these fights are fought and, at least occasionally, win in the courts
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