December 22, 2021
Biden made big promises to American college students and graduates in his presidential campaign, just to walk them back when he became president.
December 21, 2021 | The Hill
McWilliams and Chopra both make compelling characters, but only one is quite clearly violating the law, and attempting to seize absolute power over a crucial agency with no repercussions.
December 15, 2021 | Revolving Door Project Newsletter
Late last Thursday, a Democratic majority on the Federal Deposit Insurance Corporation (FDIC) board announced that it had voted to take comment on the agency’s process for reviewing bank mergers, a policy that fits neatly within the Biden administration’s whole-of-government approach to competition. On its face, this is wholly unremarkable. But what should have been just another early step towards meeting this administration’s goals quickly turned into an all out war thanks to the FDIC’s Trump holdover chair Jelena McWilliams.
December 14, 2021
If the FDIC general counsel is loyal primarily to McWilliams, then his opinion can’t be taken as independent in this matter.
December 10, 2021
Many executive branch departments and agencies — including FEMA, USDA, and the VA — administer lesser-known federal housing programs.
December 10, 2021
McWilliams is effectively saying that any outcome which she doesn’t like must be illegitimate, because she’s the Chair.
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.
December 01, 2021 | Revolving Door Project Newsletter
The end of Biden’s first year in office is fast approaching and the optimism that characterized its start is long gone. Supply chain problems, stalled legislation, a new COVID-19 variant, and nomination woes (both self-imposed and external) are all weighing on the collective national mood. Some are even starting to conclude that, regardless of what steps the administration takes in the coming year, Democrats are doomed to lose both houses of Congress next fall.
November 23, 2021
70 percent of Republicans, 70 percent of Independents, and 70 percent of Democrats surveyed believe the Biden administration should do more to hold lawbreaking corporations accountable.
November 18, 2021 | The American Prospect
The Biden administration inherited a morass of understaffed and undermined federal agencies, weakened by the Trump administration. It makes sense that building back the government’s capacity would be an uphill battle for the Biden administration, with so many years of policymaking undermined by his predecessor. What doesn’t make sense is the jarring number of cases in which the administration is going out of its way, at considerable cost, to uphold Trump-era policies that go against Biden’s stated agenda and the public interest.
November 17, 2021
Congressional selfies and self-congratulations inaugurated the week, but a lot of hard work remains to translate the Infrastructure Investment and Jobs Act’s (IIJA) policies into real-life results. Given that those policies are (generously) middling and that the most promising ones are underfunded, turning these into winning programs will demand energy, creativity, competence, and a strong commitment to the public interest.
November 10, 2021
A Fossil Fuel-Aligned Investment Executive Is Biden's Final Nominee to Manage Federal Retirement Funds
Harvard President Larry Bacow announced mid-afternoon on September 9th that the Ivy League university — whose 53.2 billion endowment exceeds the GDP of over 100 countries — would officially end its investments in fossil fuels. That announcement set off a domino reaction of divestment announcements from Dartmouth, the California State University system, Boston University, the University of Minnesota, the University of Toronto, the MacArthur Foundation, the Ford Foundation, the Netherlands’ largest pension fund, and hundreds of other groups. They appear to see the writing on the wall that fossil fuel investments, beyond being morally egregious, are also no longer profitable.
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.”
September 23, 2021
In his time on D.C.’s Public Service Commission and before that as a corporate lawyer, Phillips consistently sided with utilities over the public interest.