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August 17, 2023 | The American Prospect
As long as one party remains totally united behind a man who attempted to overthrow the government by force, was the most corrupt president in American history, and undermines the public’s faith in elections at every turn, the future of American democratic self-government is at risk.
Sounds scary. But what if I told you this was a great opportunity for fun and profit? Silicon Valley–backed startup Kalshi is attempting to expand the amount of gambling on the country’s elections with the introduction of an “event contract” centered around congressional elections. Simply put, the firm aims to allow traders to bet on the event: Which party will win control of Congress?
July 14, 2023
If we were to agree to the industry’s demand that policy experts should be precluded from regulating issues they have spent significant amounts of time developing expertise in, we would be setting a precedent that severely undermines any kind of public-minded enforcement. In fact, banning experts such as Gensler would leave the public with a pool of potential regulators who are either already corporate-aligned or unqualified to adequately opine on pressing issues.
July 11, 2023
Yet despite these promises, email correspondence obtained through FOIA requests by Demand Progress show that senior officials across USTR, including Deputy U.S. Trade Representative Sarah Bianchi, actively seek input from executives at Big Tech firms such as Amazon and Google. Giving Big Tech a privileged ability to mold American trade policy undermines Biden’s commitment to a new era of trade deals.
July 07, 2023 | The American Prospect
Despite this, Janet Yellen’s Treasury Department has yet to formalize the regulations that would usher in this new reporting regime. The initial expectation was to have Treasury provide the new guidance by the end of 2022, allowing reporting changes to begin with transactions completed in 2023. However, despite approval of the proposed regulations by the Office of Information and Regulatory Affairs in February (the usual stumbling block in this sort of proceeding), the department has yet to publish the regulations.
June 01, 2023 | The American Prospect
As the past six years have clearly illuminated, hollowing out government capacity and rewarding loyalists is at the heart of the Trump gospel, and leveraging power is DeSantis’s modus operandi as well. As coverage of the Republican primaries ramps up, the press must focus on how this style of executive branch mismanagement endangers democracy and the public interest. That’s more important than trying to figure out if DeSantis has the personality to sell this anti-democratic vision.
April 19, 2023
Amid Reports of Block’s Alleged Criminality, How Does Board Member Larry Summers Manage His Multiple Corporate Engantlements?
It’s high time that members of the press who regularly turn to Summers for his views on the economy begin questioning him on how he is able to adequately perform his multiple advisory roles and moreover, why there is a pattern of illegality at firms he advises. Or they could simply toss him to the aether, and platform non-conflicted experts instead.
March 15, 2023
As of now, Barr is assigned to investigate supervisory failures that occurred under his watch featuring a bank that catered in particular to the crypto and fintech industries which Barr was so active in immediately prior to revolving back into government. Barr is a walking conflict of interest. His central role in the investigation is damning
December 21, 2022
How better to mark the darkest day of the year than with a bit of dark humor? This winter solstice, we present our 2022 Revolving Door Superlatives, where we spotlight the most craven, captured, and corrupt personnel and policy debates of this past year. From Revolver of the Year to 2022’s Worst Look to our Biggest Personnel Nightmare Entering 2023, we have a positively ghoulish assemblage of honorees for your perverse reading pleasure. Take comfort, dear reader, in this at least: the days are only getting longer from here on out.
November 23, 2022 | The New Republic
The FTX disaster should be all the impetus needed to kill off any new crypto industry–approved legislation. Instead, we need Congress to provide material support for financial regulators in the form of increased appropriations to guard against the next collapse. Much of the crypto industry is already subject to laws—the very ones that the SEC seeks to enforce and that the crypto industry broadly (not just Sam Bankman-Fried) seeks to evade by reducing the SEC’s jurisdiction ex post facto. Both the CFTC and SEC urgently need funds to fulfill their mandates. Crypto stretches these needs even further, but the need has existed for years. For decades, financial crimes have too often gone unpunished. This wasn’t for a lack of rules, but a lack of will, funds, and people willing to enforce them. Crypto doesn’t need special treatment, it needs to face the music.
November 17, 2022
At a critical juncture such as this where the industry seeks kid-glove treatment from regulators, backgrounds such as Harris’s should be disqualifying.
November 14, 2022 | The Nation
The rapid meltdown of FTX stands as one of the most gruesome chapters in the annals of investment fiascos: think of the false technological promises of Elizabeth Holmes’s Theranos grift combined with the evaporation of Bernie Madoff’s prestigious Ponzi fund. But the saga of FTX involves much more than either the vanity and hubris of Holmes’s fraud offensive or the deceptive practices of the Madoff scam. The rapid rise and fall of Bankman-Fried points up the delusional character of information-age capitalism; Far from standing as an outlying trend within the crypto investment world, Bankman-Fried’s scam was nestled at the very heart of its prevailing business model.
October 14, 2022
Omnibus Awareness Month in Review
If Congress regularly met its own deadlines, then October—the first month of the fiscal year—would also be the first month when federal agencies could implement their new and improved budgets. Unfortunately, the modern Congress regularly fails to pass an omnibus spending package for the next fiscal year, which bundles several appropriations bills for different parts of the federal government into one whole-of-government budget, by the end of the previous fiscal year. This autumn is no different.
September 30, 2022
Boosters of Ponzi products should not be granted the freedom to tout their products without ample pushback and skepticism. Because, as is all too common in Washington, when this media cover is combined with other forms of political pressure including lobbying and campaign donations, industry interests take precedence over the public’s. Politico knows where to find skeptical voices; they had Healthy Markets President and CEO Ty Gellasch on the panel that followed Alderoty’s remarks, albeit alongside three other preachers of crypto’s so-called greatness.
September 02, 2022 | The American Prospect
There are numerous ways for the Biden administration to implement these safeguards. One option would be to issue a broad executive order that sets a path to restore public trust in the Patent Office. This order would require that the USPTO create a publicly available record of intervention in appeal proceedings by staff other than APJs, and outline new ethics practices that would ensure key USPTO staff recuse themselves from matters involving prior clients or former employers, and refrain from representing clients or working for companies whose cases they decide for at least three years.
September 01, 2022
Government officials in Congress and at independent agencies like the CFTC should focus on protecting consumers and ignore any entreaties from their former colleagues who now represent the industry’s interests.