Our Work

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.

Public health officials agree: coronavirus’ spread is no longer a matter of if but when. The only question now is, how bad is it going to get? The answer will rest on the efficacy of the government’s response, its ability to get resources where they need to be, keep the public informed and react quickly to new developments. The bad news? We have a president whose team is uniquely ill-suited to lead this process. The good news, however, is the government is larger than the executive.

The COVID-19 coronavirus is nearly a global pandemic. The Centers for Disease Control’s latest statement warns Americans “to prepare, in the expectation that this could be bad.” Amid a global crisis like this, the public needs true leadership from the president and his top aides, and a highly competent government deserving of the people’s trust, with the capacity to effectively respond to incoming threats.But this is the Trump administration. So instead, we are being asked to put our faith in inexperienced political cronies, servicing the needs of corporations rather than the public, and contemptuous of science, scientists, and the idea of expertise.

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.

The insidious influence of the wealthy over our politics, as Alexander Sammon wrote last month, is perhaps the defining issue of the 2020 Democratic primary. It’s the reason we at the Revolving Door Project have been yammering on about bundlers—the wealthy and well-connected volunteer fundraisers who almost inevitably end up receiving or influencing key jobs across the executive branch. Bundlers have driven the facile premise of both Tom Steyer and Mike Bloomberg’s campaigns: “I can’t be bought by the rich, because I am one of the rich who buys.” This was initially Donald Trump’s pitch, too. And the desire to reject the influence of bundlers raise hopes in Bernie Sanders and Elizabeth Warren’s campaigns, largely driven by small dollars and people power.

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.

At this time last year, newly declared Democratic primary candidates were racing to outdo each other with escalating promises to shun big money support. Contenders vowed not to take corporate PAC money, to reject lobbyists’ dollars, to discourage super PACs, and to tell fossil fuel executives, “no, thank you”. Now, however, many seem to be in a wholly different sort of race: to put the most distance between themselves and their prior principled stands.

We’ve become accustomed, watching the Democratic debates, to hearing the moderators focus on the practicability of candidates’ plans to move to Medicare for All, reform immigration policy, and fight gun violence. Make no mistake, these bills are important. They’re the type of policies a functional Congress would advance, and markers of a candidate’s vision for the country. But the media’s near-exclusive focus on these legislative proposals is deeply flawed.

Eleanor Eagan | Max Moran

Beginning in the fall, the Revolving Door Project was one of a handful of voices drawing attention to Democratic primary candidates’ failure to release the names of their most important fundraisers. In op-eds, newsletters, and across other forums throughout the fall we repeatedly made the case that this consequential information could not stay hidden.

Why were we so insistent? A candidate’s list of top fundraisers, or bundlers, provides clearer insight than perhaps any other piece of campaign material into how a candidate would actually do the job of being president.

Andrea Beaty

The Iron Workers Union endorsed Joe Biden last week, citing his dedication to “defend rights and jobs of American workers”, and calling him “a friend to union ironworkers”. The union endorsement marks one of many that Democratic candidates are fighting for by unveiling detailed labor plans and promising to overturn “right-to work laws” that weaken unions. While they seek union endorsements, several of the candidates are also seeking direct contributions from wealthy individuals. And therein lies a largely hidden tension.

Takes came in hot and heavy last weekend after the New York Times editorial board endorsed both Elizabeth Warren and Amy Klobuchar for the Democratic presidential nomination, mercifully ending the paper’s self-aggrandizing pseudo-event widely compared to … that’s right … “The Apprentice.”

The Times split its endorsement due to the intra-Democratic cleave between what it termed a “radical” path represented by Warren and a “pragmatic” path represented by Klobuchar.

Eleanor Eagan
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. 

On January 13, the Revolving Door Project and the Demand Progress Education Fund called on the Chairs and Ranking Members of the House Financial Services and Senate Banking Committees to “open an investigation into the Securities and Exchange Commission’s review of WeCompany’s aborted Initial Public Offering (IPO) and the integrity of its investigation into potential securities fraud within that same company.”

To: CNN, The Des Moines Register, and the moderators of the January 14th Democratic debate
We, the undersigned organizations, urgently request that you ask each Democratic presidential candidate about how they would wield powers specific to the executive branch at the next debate on January 14th. In particular, we request that you ask about what qualifications each candidate will prioritize in making key nominations and appointments to the various departments and independent agencies that will fall under the next president’s purview.