Search Results for
December 02, 2021
The Biden Administration was elected to office with an urgent mandate to change our current trajectory towards catastrophic climate change. Climate-focused financial regulation, or the regulation of markets to accurately account for climate risk and the social and material costs of climate-damaging activities, must be a part of this coordinated federal response in order to meaningfully address climate concerns at the governmental level. An agency that is particularly key to this goal is the Commodity Futures Trading Commission (CFTC). The CFTC is one of the smallest federal financial regulatory bodies and yet it is responsible for regulating one of the country’s largest markets, derivatives. While it was originally founded to regulate futures trading in commodities, the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010 expanded the CFTC’s mandate to include swaps markets and broadened the agency’s role in regulating other derivatives, in part due to their extreme volatility and outsized role in the 2008 financial crisis.
November 22, 2021
RELEASE: Revolving Door Project Criticizes Biden For Choosing To Own Ethics Scandals And Deregulation By Renominating Powell
“We are extremely disappointed to see Biden renominate Jerome Powell as Chair of the Federal Reserve Board. Biden’s endorsement of Powell’s deregulatory agenda will greatly harm American families. Biden has an ambitious and urgent agenda on climate, financial stability, and addressing racial and economic inequality. Powell as Chair of the Federal Reserve will make it more difficult for Biden to ultimately be a successful president. Today is a win for the conventional wisdom and Establishment and a defeat for the planet and Joe Biden’s ultimate legacy.”
November 19, 2021
An inquiry from the Revolving Door Project has revealed the absence of any records of any communications of any kind between Powell and the Office of Government Ethics,
November 08, 2021
There is no assurance whatsoever that Quarles’ successor will have anything close to Quarles’ own power, should Biden refuse to nominate a new Federal Reserve Chair.
October 26, 2021
We hope that these one-pagers help political professionals, the press, and onlookers to better understand the facts surrounding the reappointment debate.
October 26, 2021
It is very possible that President Biden will show up empty-handed to COP26 in Glasgow next week. And that isn’t just because of the apocalyptic vanity of two Senators from Arizona and West Virginia. Many executive-led policies that are just a matter of political will have not been done, and some of those which have are pure paper tigers. Biden’s administration failed last week to take advantage of a lesser known, but extremely meaningful climate action opportunity. The Financial Stability Oversight Council (FSOC) released its long-awaited report on climate-related financial risk, which the President personally ordered months ago. And it was a complete flop.
October 21, 2021
“It’s extremely disappointing to see this long-awaited report be so watered down by what can only be described as climate apathetic FSOC members.”
October 07, 2021
“The malfeasance already in the public record is staggering. For the sake of government integrity, the public must learn how deep the rot goes at Powell’s Federal Reserve.”
September 23, 2021
Professor Omarova has spent over a decade fighting for the belief that the public should set rules for banks, rather than banks setting rules for the public.
September 07, 2021 | American Prospect
Apparently, Harris just doesn’t get why regulators have to be so skeptical of the industry all the time—which makes sense, coming from a fintech executive who’s advocated for the industry on both sides of the revolving door.
August 12, 2021
Today, a coalition of 23 environmental, labor, and good government organizations called on President Biden to remove Thomas Workman from his role as the independent member with insurance expertise on the Financial Stability Oversight Council (FSOC), the interagency panel which identifies and addresses systemic risks to the financial system.