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April 28, 2021

Zena Wolf

Blog Post

2020 Election/TransitionClimateFinancial Regulation

Revolver Spotlight: Alex Oh

Last week, SEC Commissioner Gary Gensler named corporate BigLaw partner Alex Oh as Director of Enforcement of the SEC. Oh’s nomination, especially in an agency tasked with holding Big Banks accountable, is deeply concerning given her history working for some of the worst corporate influences. Oh, who has served as a partner at the BigLaw firm Paul Weiss since 2004, has taken on clients with direct conflicts of interest including Big Banks, fossil fuel companies, and Big Pharma.

April 28, 2021

Dorothy Slater

Blog Post

2020 Election/TransitionClimateFinancial Regulation

SEC's New Enforcement Director, Alex Oh, Is Bad News For Climate

Progressives and climate activists were initially heartened by the prospect of Gary Gensler at the helm of the U.S. Securities and Exchange Commission (SEC), the regulatory powerhouse responsible for regulating coordinating stock trading. And some of Gensler’s initial staffing decisions also inspired plaudits. However, we were shocked when SEC Chairman Gensler announced last week he would appoint veteran Wall Street defense lawyer Alex Oh to lead the SEC’s powerful enforcement division. This appointment is an absolute rejection of progressive values, not to mention climate reality.

April 27, 2021

Blog Post

2020 Election/TransitionCriminal JusticeDepartment of Justice

Questions for Joe Biden and Merrick Garland’s Department of Justice

Amid a transition season of bruising battles between progressives and the old guard over Biden’s Cabinet picks, Merrick Garland for Attorney General was one choice that sparked relatively little controversy. Three months into Biden’s presidency, however, Garland is quickly shaping up to be the most consequentially bad Cabinet pick. On any number of important metrics — sweeping out holdovers from the Trump administration and reversing its positions, preventing corporate capture, and acting aggressively to advance the public interest — Garland is failing.

April 27, 2021

Timi Iwayemi

Blog Post

Financial RegulationFintech

The Longer Trump’s Acting Comptroller Stays, The More Damage He’ll Do

Under Otting and Brooks’ leadership, the OCC rolled out rules contrary to its responsibility to maintain a federal banking system that is safe against systemic risks and provides aid to all customers. Now they’re all out of power — but Acting Comptroller, Blake Paulson, whose ascent was ensured by Brooks and Mnuchin, has demonstrated no desire to change course from the path set by Trump’s lackeys. That is why Biden needs to act quickly and appoint a Comptroller who recognizes the dangerous precedent set by the Trump administration.

April 27, 2021

Sion Bell

Blog Post

BankruptcyDepartment of Justice

Biden Must Fire and Replace the Bush-Era Head Bankruptcy Overseer

Since the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005, the bankruptcy process has been more onerous for poor debtors, who now must go through myriad additional hoops to prove their worthiness for financial relief. While many of the problems with our current bankruptcy system require legislative fixes, there is one thing that President Biden can do immediately to improve the system: fire and replace the Director of the Executive Office for US Trustees, Clifford J White, III.

April 22, 2021

Nika Hajikhodaverdikhan

Blog Post

Criminal JusticeDepartment of Justice

Merrick Garland: A Potential Wolf in Sheep’s Clothing for Criminal Justice Advocates

Last May, as the country first erupted into protests over George Floyd’s murder at the hands of Minneapolis police officer Derek Chauvin, Biden promised that he would deliver “real police reform” if elected president. The country’s eyes are on Minnesota again this week after a police officer in a Minneapolis suburb shot and killed Daunte Wright, sparking a new wave of protests. This time, Biden need no longer speak in hypotheticals; he is President. Will his administration deliver?

April 22, 2021

Elias Alsbergas

Blog Post

Ethics in GovernmentExecutive BranchFinancial RegulationTreasury Department

Delaware Connections Run Deep As DuPont Family's Darla Pomeroy Heads To Treasury

Darla Pomeroy, who is married to an heir to the DuPont family fortune, was just named Senior Advisor to the Office of Domestic Finance at the US Treasury. While her record does not show any familiarity with financial regulatory policy, it reveals instead a history of a powerful corporation highly influential in Delaware placing a close ally in the administration.

April 22, 2021

Press Release

Executive BranchFinancial RegulationRevolving Door

Wall Street Lawyer Leading Wall Street Oversight Unsettles Allies Of Gensler

“Oh has chosen to spend over 20 years reinforcing a corrupt status quo in corporate America, in which the largest companies systematically evade democratic accountability. No one so comfortable with the breakdown in the rule of law over corporate America should be entrusted with responsibility for implementing long-overdue accountability on Wall Street.”