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March 05, 2021
Revolver Spotlight: Lisa Monaco
If confirmed as Deputy Attorney General, Lisa Monaco will be the second most powerful legal officer in the executive branch. But her financial disclosures raise profound concerns about who Monaco will truly be serving while in office.
March 02, 2021
A Market-Driven Response to the Climate Crisis Means a Non-Response
Wall Street executives are digging in their heels against the prospect of divesting from fossil fuel investments. At a February event, they peddled the extremely dangerous and false theory that modern society can “rely on the power of markets” to decarbonize our climate-destroying economy.
February 26, 2021
Mark Zandi: The Worst Potential FHFA Regulator You’ve Never Heard Of
Almost every homeowner and most of the American mortgage-backed securities financial system is subject to the Federal Housing Finance Agency’s (FHFA) regulation. It oversees and guarantees the vast majority of mortgages bought and sold in the United States. The FHFA does this through quasi-public agencies, Fannie Mae and Freddie Mac, which buy mortgages from local banks that they bundle, chop up, and sell to investors. This arrangement ideally allows local banks to provide more and cheaper loans to potential homeowners by letting them sell their mortgage liabilities to the government, and gives investors access to relatively stable investment returns.
February 19, 2021
Senate Must Clear Obstacles and Avoid False Tradeoffs
On January 20, Joe Biden was sworn in as the country’s 46th President. It will be months, even years, however, before all of the accompanying members of his administration are in place. With over 4000 positions to fill, the vetting and selection process necessary to stand up a new administration is formidable. Add to that the lengthy road to Senate confirmation for over 1000 of those picks and you have a recipe for dysfunction.
February 16, 2021
How A Little-Known Treasury Position Could Move Mountains For Climate Action
President Biden has promised to take a “whole-of-government” approach to tackling the climate crisis, and so far his appointees appear to be following suit. The National Climate Task Force met for the first time in a crowded zoom room last week, and Treasury Secretary Janet Yellen and International Climate Envoy John Kerry met earlier this month to discuss their “climate finance plan” to shift capital towards investments in line with a low-carbon economy.
February 15, 2021
Trump Appointees Still Setting Agenda At Biden’s Antitrust Division
Last week the Biden administration appointed career civil servant Richard Powers as Acting Assistant Attorney General for the Department of Justice Antitrust Division (ATR). With the question of who will become Assistant Attorney General still up in the air and their confirmation likely several months away, the direction of the ATR’s enforcement is left in the hands of three top officials.
February 10, 2021
Barr's Current Fintech Ties Run Through Venture Capital Firm Of Former Finance Execs
Under-appreciated in the Michael Barr press blitz (again, including by us) is Barr’s current listed work as an advisor to the venture capital firm NYCA Partners, which exclusively invests in fintech startups.
February 05, 2021
The State of Independent Agency Nominations - Update for February 2021
It has been just over two weeks since President Joe Biden assumed the presidency. So far, six of his Cabinet picks have received Senate confirmation while the remaining 17 who will require it wend their way through the process. In the meantime, the administration continues to announce names for the nearly 4000 other positions it will need to fill. With only one exception, however, picks for one class of appointment — to independent agency boards — have not yet been forthcoming. The Biden administration undoubtedly faces many competing priorities but these nominations must rise to the top.
February 04, 2021
Biden's Newest Treasury Tax Appointees Delight and Disappoint
Some mixed news for progressive tax enthusiasts: Joe Biden’s administration has chosen both a committed progressive tax advocate and a Republican career expert in corporate tax avoidance for its first two appointees to the Treasury’s Office of Tax Policy. We’re now in a strange situation where experts who testified on opposite sides of the 2017 Tax Cuts and Jobs Act will now serve shoulder-to-shoulder.
February 03, 2021
The Revolving Door’s Power Couple: Heidi Crebo-Rediker And Doug Rediker
Heidi Crebo-Rediker has been publicly floated as a potential pick to serve as a high-level Treasury Department official. DC’s self-dealing politico culture means her husband, Doug Rediker, is also in the mix for a Biden administration job. This news is deeply concerning, given the couple’s shared history cashing in on their insider government ties as the founders of geopolitical investment advisory firm, International Capital Strategies. Heidi and Doug’s history of revolving between Wall Street and government should give any neutral observer pause.
February 02, 2021
Yellen Should Move Quickly To Appoint A Climate Leader In Treasury
During Janet Yellen’s confirmation hearing to become Secretary of the Treasury, she promised to “look to appoint someone at a very senior level” to lead the Treasury’s efforts on climate action.
February 01, 2021
Congress Must Ask: Did Trump Politicize Our Civil Service?
The Bush Administration twisted the government’s neutral hiring process to staff the career civil service with right-wing ideologues. We don’t yet know if Trump did the same thing. And we won’t find out without help from Congress.
January 26, 2021
13 Questions Which Fintech-Tied Appointees Must Be Able To Answer
Lately, fintech-funded individuals like Michael Barr have been rumored for powerful financial regulatory positions, despite the fact that this would leave them in charge of decisions directly affecting the firms they advised.
January 26, 2021
Vishal Shankar Zena Wolf Ella Fanger
Blog Post CabinetExecutive BranchRevolving DoorRight-Wing MediaTech
If Biden Doesn’t Close Big Tech’s Revolving Door, The Right-Wing Will Eat Him Alive
The right-wing’s revolving door attacks on President Biden are intensifying, with a particular focus on the new President’s ties to Big Tech. Biden must beware the potency of these attacks and address them head-on.