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If he truly cannot stand the conflicts of interest, revolving doors, and regulatory capture of Washington, then he currently holds perhaps the single most powerful job to do something about it.

This crisis has shattered any illusions that our post-financial crisis framework is resilient enough to withstand the challenges of the future. Coronavirus has, in particular, uncovered one of our most fundamental, persistent weaknesses: our continued inability to anticipate and prepare for new financial risks. For this ill-preparedness, we have powerful actors like BlackRock, the asset management giant and political titan, to thank. In an effort to avoid more stringent regulation, BlackRock and others not only evaded scrutiny for their own contributions to systemic risk, but virtually destroyed the mechanisms designed to examine such risk across the wider economy.

The Covid-19 pandemic is creating ripe conditions for corporate acquisition sprees by industry giants. But at least one company, already under the microscope, isn’t just looking to pick off competitors. Facebook has its eyes on the supposed cops on this beat, the antitrust enforcement officials ready to jump ship.

A slim majority of individuals whom we could identify, and a strong plurality of the overall data set, have revolved into corporate law firms where they defend clients in the sorts of investigations and approval processes which they themselves used to administer.

The federal government’s independent federal agencies receive too little attention relative to their importance to our collective safety and prosperity. The Revolving Door Project has worked through multiple channels to shed light on these overlooked agencies and the threats that they face. We hope public education will generate pressure to safeguard the independence of these agencies and ensure that they are staffed with advocates for the public interest rather than corporate insiders.

For the reality-based, Trump’s indifference to the tragedy that the novel coronavirus and COVID-19 are spreading across the country might be maddening but not surprising. Trump downplaying the severity of the crisis, tweeting nonsense, and pushing for a $500 billion corporate bailout are entirely on brand.

Amidst an economy-crashing pandemic, several Senators appear to be more concerned with their stock portfolios than with the well-being of their constituents or with their Senatorial responsibility to offer a solution. Sadly, this will almost certainly not be the only instance of crisis profiteering during the coronavirus outbreak.

Donald Trump has consistently been failing the country in dealing with the coronavirus. Due to Trump’s failed public health response, even his treasury secretary acknowledges that we are facing the worst economic collapse since the Great Depression. This is in addition to the prospect of tens of millions of people getting the coronavirus and hundreds of thousands, or even millions, dying.

The way our financial regulatory system is constructed means that true accountability for Wells Fargo cannot ultimately flow from the committee hall. Instead, it must come from the cabinet departments and federal agencies which hold the power to prosecute, fine, and regulate our big banks.

As we have previously highlighted, the federal government’s independent federal agencies receive too little attention relative to their importance to our collective safety and prosperity. The Revolving Door Project has worked through multiple channels to shed light on these overlooked agencies and the threats that they face. We hope public education will generate pressure to safeguard the independence of these agencies and ensure that they are staffed with advocates for the public interest rather than corporate insiders.

HHS secretary Alex Azar refused to guarantee a coronavirus vaccine would be affordable to all during Congressional testimony on Wednesday. The outrage reminded Americans why they are sick and tired of the unchecked pharmaceutical industry’s abuses. As we wrote for the American Prospect, Azar is a former pharma lobbyist who, like the rest of President Trump’s coronavirus response team, has no background in public health or research.

Andrea Beaty
Joe Biden’s campaign is hurting for cash and increasingly reliant on the pro- Biden super PAC, Unite the Country, for help. Unite the Country is spending big in early states — the super PAC threw over $5.5 million into Iowa and is now expanding into South Carolina. But the Unite the Country donors swooping in to save Biden’s messaging efforts build on the super PAC’s established base of corporate lobbyists and consultants. Unite the Country recently picked up new supporters from private equity, venture capital, real estate, and other sectors that may be looking for favorable policies or to influence strategic appointments.