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January 31, 2024 | Revolving Door Project Newsletter

KJ Boyle

Newsletter Anti-MonopolyExecutive BranchIndependent AgenciesLaborRevolving Door

More Revolvers Join The Fight Against The Regulatory State

The regulatory authority of the executive branch is under attack, and BigLaw firms stacked with revolvers are on the front lines leading the assault. I’ve previously written about former FTC Commissioner Christine Varney challenging the legitimacy of her former employer on behalf of pharma company Illumina. Lawyers at Latham & Watkins, a firm stacked with revolvers from executive branch agencies, are before the Supreme Court challenging the Chevron Doctrine, which defers to executive agencies’ interpretations when legislative statutes are unclear. The Securities and Exchange Commission’s ability to hold administrative proceedings hangs in the balance as we await the Supreme Court’s decision in SEC v. Jarkesy, where the Fifth Circuit’s ruling decimated the agency’s authority. In a new attack, revolvers on the labor/management relations team at Morgan Lewis & Bockius have their sights set on the plutocrats’ latest target: the National Labor Relations Board.

January 26, 2024

KJ Boyle

Blog Post Anti-MonopolyFTCPharma

The FTC Ain’t Nothin to Mess With

The FTC has won its lawsuit against Martin Shkreli, the pharmaceutical executive infamous for jacking up the price of the antiparasitic drug Daraprim from $13.50 to $750 overnight in 2015 and later using his ill-gotten fortune to buy an exclusive Wu-Tang Clan album for $2 million. Shkreli is the quintessential corporate ghoul, having already racked up convictions for securities fraud—which resulted in an indefinite ban from the securities industries—and failure to pay $1.26 million in New York state taxes. Now, his price gouging has finally caught up with him, as the FTC successfully argued that he spearheaded an anti-competitive scheme to monopolize the drug. The presiding judge found Shkreli’s conduct to be “egregious, deliberate, repetitive, long-running, and ultimately dangerous,” issuing a $64.6 million fine and imposing a lifetime ban from the pharmaceutical industry. 

January 26, 2024 | The American Prospect

Timi Iwayemi

Op-Ed AccountingAnti-MonopolyEthics in GovernmentFinancial RegulationRevolving Door

Corporate Self-Oversight

Accounting’s technical jargon makes the industry obscure to most Americans. It’s likely your next-door neighbor has no idea of the PCAOB’s activities, its responsibility to protect investors, or its history of negligence. That’s expected, but chair Williams is now working to turn the ship around to fix the shortcomings of one of America’s most consequential oligopolies, and it will improve the economic lives of an unaware public.

January 19, 2024

Toni Aguilar Rosenthal

Blog Post Ethics in GovernmentState Attorneys General

The Republican Attorneys General Association Sells Access To Major State Officers Nationwide

The Republican Attorneys General Association (RAGA) is a national organization dedicated to electing and reelecting state-level Republican Attorneys General. It is a partisan political  organization, but it also functions as a dark money influence machine selling access to AGs, their staff, and their offices. 

January 16, 2024

Hannah Story Brown

Letter

Climate and EnvironmentExecutive Branch

147 Groups Call On EPA To Use Clean Air Act Powers to Refer PNW Pipeline Approval to CEQ For Review

On January 16, Bloomberg covered a letter from 147 groups that the Revolving Door Project co-organized with the Center for Biological Diversity and Columbia Riverkeeper, calling on the Environmental Protection Agency to utilize its Clean Air Act Section 309 powers to refer the Federal Energy Regulatory Commission’s approval of the GTN Xpress pipeline expansion to the White House Council on Environmental Quality for review. FERC’s approval of the pipeline disregarded both the National Environmental Policy Act (NEPA), and legally-binding state-level decarbonization commitments in Washington and Oregon.