The Other Corporate Restraints |
Photograph by Nathaniel St. Clair
Donald Trump thinks that young girls should get by with fewer dolls, but there is apparently no limit to the number of regulatory gifts he is offering Corporate America. Long-standing rules are being brushed aside, while laws such as the Foreign Corrupt Practices Act are not being enforced. Entire agencies such as the Consumer Financial Protection Bureau have been put in limbo. Investigations launched by the Biden Administration are being abandoned. Trump even pardoned a cryptocurrency company and its founders fined for anti-money-laundering deficiencies.
Big Business is not, however, escaping all oversight. That’s because there are two areas beyond Trump’s control that are still acting as checks on corporate abuses: state government regulation and private litigation.
The U.S. Justice Department may be focusing more on legitimizing Trump’s acceptance of a........