Financial Regulation

Members of the opposition party need to start connecting the dots between the OMB director’s actions and their constituents’ preventable suffering.

Fossil fuels are making our insurance premiums unaffordable and exposing us to financial ruin. But momentum is building to ramp up clean energy and make polluters pay!

Trump has filled the PCAST with billionaires, Big Tech, and crypto interests who will use the advisory board to further their own interests.

In the wake of the 2008 financial crisis, Congress created the Office of Financial Research (OFR) through the Dodd-Frank Wall Street Reform and Consumer Protection Act. Originating from the spirit to reform the wildly irresponsible Wall Street elite, OFR was charged with providing data, analysis, and research regarding systemic financial risks to the members of the Financial Stability Oversight Council (FSOC). Essentially, OFR is an integral part of the federal infrastructure for safeguarding financial stability. 

Trump’s SEC continues the administration’s poor track record on corporate enforcement and the EPA pulls back regulations on another cancer-causing toxin.

Tyler and Cameron Winklevoss are billionaires who made their initial fortune from a 2004 lawsuit against Mark Zuckerberg, accusing him of stealing their idea in the creation of Facebook. The Winklevoss twins have since expanded their fortunes through an $11 million purchase of Bitcoin in 2013, founding the venture capital firm Winklevoss Capital, and founding cryptocurrency exchange Gemini. In June 2024, the Winklevosses each tweeted an endorsement of Trump’s candidacy and donated $1 million in Bitcoin to his campaign.

State insurance commissioners cannot tackle the deeply intertwined crises of fossil fuel-driven climate change, insurance rate hikes and cancellations, and housing injustice on their own. But their role in aggravating or ameliorating problems deserves greater scrutiny.

It’s a lot easier to be an ambitious, pro-consumer and pro-climate regulator when you aren’t trying to preserve friendships with profit-maximizing insurance CEOs.

Differences in state regulations play a major role in the growing crisis over home insurance, which is closely linked to the climate emergency propelled by fossil fuels.

How the cryptocurrency industry lied about it’s supposed innovation in order to escape basic government oversight.

Warsh’s record suggests commitment to class and personal self-interest, not a broader dedication to an intellectually consistent view of the public interest. 

Revolving Door Project senior researcher Kenny Stancil joined Economics for the People to discuss his recently published article, “Forsake Some, Fleece the Rest,” with Dollars & Sense editor Chris Sturr.

How companies cry “innovation” to defend their lawbreaking

How U.S. Home Insurers Are Responding to Climate Change