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justaprogressive

(4,730 posts)
Mon Jul 21, 2025, 11:29 AM Yesterday

Deregulation Swings the Pendulum Toward Financial Crash

https://prospect.org/downloads/2324]4/download/Dayen-FTC%20072125.jpg

Rebecca Kelly Slaughter was reinstated as a commissioner of the Federal Trade Commission last week, after Judge Loren AliKhan ruled that the firing of her and a fellow Democrat was illegal under current statute. The other fired commissioner, Alvaro Bedoya, resigned during the legal fight to take another job, but under this ruling he would be entitled to back pay.

Slaughter returned to work last Friday, and her name has been restored to the roster of FTC commissioners. It is likely to be a short-lived reprieve. The Supreme Court has allowed firings of other Democrats on independent commissions to stand while legal cases play out, and by its next term, it will probably overturn the 1935 precedent of Humphrey’s Executor, which stated that presidents can only fire FTC commissioners for cause. Despite historical practice, there have been no nominations of minority-party members on any independent commissions in Trump’s second term, and as he gains the power to fire at will, I don’t expect any minority-party positions will be filled.

Some might ask if there’s a real loss there. Minority-party commissioners are just voices in the wilderness. They cannot stop a determined majority from working its will in rulemaking or enforcement, and Trump’s functionaries are definitely determined. But just by speaking up, minority commissioners serve a critical function as public watchdogs of those actions, and in setting another path for action in the future. In Trump’s first term, we saw the power of then-FTC Commissioner Rohit Chopra to even shape events and win key reforms from a minority-party seat.

Slaughter’s first order of business upon her return to the FTC was demanding a vote on the “click to cancel” rule, which a federal judge set aside earlier this month. The Republican majority may not leap at Slaughter’s suggestion, but it’s important for her to say from a position of authority that the FTC can respond to the ruling. It claimed that the Commission didn’t allow enough opportunity for opponents of the rule to make their case, to restart the process, do all the required analyses, and protect the public from subscription scams that enrich deceptive businesses, and every one of those arguments is bunk.


https://prospect.org/economy/2025-07-21-deregulation-swings-pendulum-toward-financial-crash/
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Deregulation Swings the Pendulum Toward Financial Crash (Original Post) justaprogressive Yesterday OP
Cheerful discussion on Bloomberg radio this morning Mike 03 Yesterday #1

Mike 03

(18,575 posts)
1. Cheerful discussion on Bloomberg radio this morning
Mon Jul 21, 2025, 11:38 AM
Yesterday

One segment was devoted to the possibility of the Euro replacing the Dollar as the world's reserve currency. It was framed as a "long-term project" and, yes, it's still difficult for most people to think of this idea as serious. But Europe is at an interesting economic crossroads where they are recognizing their power (finally) and contemplating the possibility they may have to fill the void left by "American exceptionalism" as it circles the drain under our current leadership.

EDIT: The use of "cheerful" there was meant sarcastically.

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