Dr. Stephen Hahn, former FDA Commissioner who led the agency during COVID-19 vaccine emergency use authorizations, joined Flagship Pioneering as Chief Medical Officer on June 16, 2021. The move came six months after the FDA granted emergency use authorization to Moderna’s COVID-19 vaccine. …
Stephen HahnFlagship PioneeringModernaFDAregulatory-capturepharmaceutical-industryconflict-of-interestcovid-pandemicfda-oversight
On May 21, 2021, Tribune Publishing shareholders approved hedge fund Alden Global Capital’s $633 million acquisition of the newspaper chain, making Alden the second-largest newspaper publisher in the United States. The transaction gave Alden control over nine major metropolitan dailies …
Alden Global CapitalTribune PublishingRandall D. SmithChicago TribuneBaltimore Sun+2 moremedia-consolidationnewspaper-collapsenews-desertshedge-fund-predationlocal-journalism+3 more
Genesis Healthcare, once the largest skilled nursing operator in the United States, narrowly avoids bankruptcy by accepting a $100 million investment from Joel Landau’s private equity firm ReGen Healthcare LLC, which receives 93% equity stake and two board seats in exchange. Genesis’ …
Genesis HealthcareReGen HealthcareJoel LandauDavid GefnerCenters for Medicare and Medicaid Serviceshealthcarenursing-homeprivate-equitybankruptcypatient-harm+2 more
In January 2021, the Depository Trust & Clearing Corporation (DTCC) granted Robinhood an unprecedented $9.7 billion collateral waiver during the GameStop short squeeze. This extraordinary measure prevented Robinhood from defaulting on its regulatory obligations, revealing significant gaps in …
Robinhood FinancialDTCCDan GallagherU.S. House Committee on Financial Servicesfinancial-regulationrobinhooddtccgamestop-short-squeezeregulatory-capture
Harvard researchers calculated that Trump’s environmental rollbacks would cause 80,000 excess deaths per decade from increased air pollution, with 18,000 deaths from repealing the Clean Power Plan alone. The administration reversed or weakened over 100 environmental regulations, including …
Donald TrumpEPAScott PruittAndrew WheelerDavid Bernhardt+1 moreenvironmental-destructionpublic-healthclimate-changemass-deathregulatory-capture
On December 27, 2020, Congress passed the No Surprises Act as part of the Consolidated Appropriations Act of 2021, banning most surprise medical billing beginning January 1, 2022. The legislation addressed a predatory billing practice that generated billions in profits for private equity-backed …
U.S. CongressTeamHealthEnvision HealthcareBlackstone GroupKKR+1 morehealthcareprivate-equityregulatory-capturesurprise-billinglegislative-reform
National Bureau of Economic Research releases landmark study (Working Paper 28474) analyzing patient-level Medicare data from 18,000 nursing facilities over 17 years, finding that private equity ownership increases patient mortality by 10% compared to other nursing homes. The 10% mortality increase …
National Bureau of Economic ResearchPrivate equity firmsCenters for Medicare and Medicaid Serviceshealthcarenursing-homeprivate-equitypatient-harmmortality+2 more
The House Committee on Transportation and Infrastructure released its final 238-page report on the Boeing 737 MAX disasters, concluding that the crashes “were the horrific culmination of a series of faulty technical assumptions by Boeing’s engineers, a lack of transparency on the part of …
House Transportation and Infrastructure CommitteeRepresentative Peter DeFazioRepresentative Rick LarsenFederal Aviation AdministrationBoeing+1 moreboeingfaaregulatory-capture737-maxcongressional-investigation+1 more
German payments processor Wirecard files for insolvency after admitting €1.9 billion in cash—roughly 25% of its assets—probably never existed, marking the largest accounting fraud in German post-war history. The collapse exposes catastrophic failures by auditor Ernst & Young (EY), which signed …
WirecardMarkus BraunJan MarsalekEYBaFin+3 morefraudregulatory-captureaudit-failurecorporate-governanceeconomic-nationalism+2 more
In June 2020, NPR analysis revealed that the federal government had awarded over 250 COVID-19 related contracts worth more than $1 million each without full competitive bidding, totaling billions of dollars in federal spending. Many contracts went to companies with no experience in medical …
Trump AdministrationFEMAU.S. Department of JusticeCongressional Oversightcovid-19corruptionprice-gouginghealthcareregulatory-capture+1 more
AbbVie completed its $63 billion acquisition of Allergan after FTC approval requiring divestiture of digestive drug brazikumab to resolve antitrust concerns. The merger created a pharmaceutical giant with combined 2019 revenues of $48 billion and a diversified portfolio spanning immunology, …
AbbVieAllerganFederal Trade Commissionantitrustconsolidationmergerpharmaceutical-industryregulatory-capture+3 more
Boeing released hundreds of internal messages to Congressional investigators and the FAA on January 9, 2020, revealing that employees knew the 737 MAX was unsafe, mocked regulators, and conspired to deceive certification authorities. In one April 2017 exchange, just before the aircraft’s first …
Boeing employeesFederal Aviation AdministrationDepartment of JusticeHouse Transportation CommitteeSenator Richard Blumenthalboeing737-maxinternal-communicationsregulatory-capturefraud+1 more
Boeing’s Board of Directors fired CEO Dennis Muilenburg on December 23, 2019, over his handling of the 737 MAX crisis that killed 346 people in two crashes. Despite presiding over the deadliest corporate safety scandal in aviation history, Muilenburg departed with approximately $62 million in …
Dennis MuilenburgBoeing Board of DirectorsDavid Calhoun346 crash victimsVictims' familiesboeingexecutive-compensationimpunity737-maxcorporate-crime+1 more
Mark Zuckerberg conducts secret, unreported meetings with Donald Trump, Jared Kushner, and Facebook board member Peter Thiel at the White House to negotiate content moderation policies and regulatory pressure. According to later reporting, Zuckerberg promises to avoid fact-checking political speech …
Mark ZuckerbergDonald TrumpJared KushnerPeter ThielFacebook+1 morefacebooktrump-administrationregulatory-capturepolitical-influencewhite-house+3 more
WeWork formally withdraws its S-1 filing and postpones its IPO after investor scrutiny reveals catastrophic governance failures and self-dealing by CEO Adam Neumann. The company’s valuation collapses from $47 billion (January 2019) to under $10 billion in months. The SEC investigation reveals …
Adam NeumannWeWorkSecurities and Exchange Commission (SEC)SoftBankJohn White+1 morefraudregulatory-capturecorporate-governancesecrevolving-door+2 more
On July 23, 2019, the Senate voted 90-8 to confirm Mark Esper as Secretary of Defense, installing a former Raytheon weapons lobbyist as head of the Pentagon with authority over approximately $700 billion in annual defense spending including contracts worth tens of billions to his former employer. …
Mark EsperRaytheonDonald TrumpElizabeth WarrenLindsey Grahamrevolving-doorraytheondefense-contractorspentagonmark-esper+2 more
Secretary of Education Betsy DeVos formally repealed the Obama Administration’s Gainful Employment Rule on July 1, 2019, eliminating the only federal accountability mechanism that measured whether career training programs at for-profit colleges and non-degree programs at all institutions …
Betsy DeVosU.S. Department of EducationRobert EitelJulian Schmoke Jr.For-Profit College Industry+1 morefor-profit-educationderegulationregulatory-capturerevolving-doorstudent-debt+2 more
On June 19, 2019, EPA Administrator Andrew Wheeler signed the Affordable Clean Energy (ACE) Rule, replacing the Obama-era Clean Power Plan with regulations designed to extend the lifetimes of heavily polluting coal-fired power plants. The ACE Rule established no meaningful limits on carbon pollution …
Andrew WheelerEnvironmental Protection Agency (EPA)Donald TrumpCoal IndustryScott Pruittclimate-denialeparegulatory-captureenvironmental-destructioncoal-industry+1 more
Federal Judge Lucy Koh issues a 233-page decision finding Qualcomm violated antitrust laws (Sherman Act Sections 1 and 2) through its ’no license, no chips’ policy for standard essential patents (SEPs) covering cellular modem technology, which Qualcomm had committed to license on Fair, …
FTCLucy KohQualcommNinth Circuit Court of AppealsDepartment of Justice+1 moreintellectual-propertypatent-abusestandard-essential-patentsfrandantitrust+3 more
Utah Representative Ryan Wilcox and Senator Daniel McCay championed HB 474, legislation requiring legislative approval for “major” agency rules with significant economic impact, modeled directly on ALEC’s Targeted Legislative Review Act. The law created a Legislative Economic …
Ryan WilcoxDaniel McCayAmerican Legislative Exchange Council (ALEC)Utah State Legislatureinstitutional-capturecorporate-influenceregulatory-capturealecderegulation
The Federal Aviation Administration finally grounded the Boeing 737 MAX on March 13, 2019, three days after the Ethiopian Airlines crash and only after 51 other countries had already banned the aircraft. China acted first on March 11, followed by Indonesia, Singapore, India, the European Union, …
Federal Aviation AdministrationBoeingActing FAA Administrator Dan ElwellEuropean Union Aviation Safety AgencyCivil Aviation Administration of China+2 morefaaboeing737-maxregulatory-captureaviation-safety+1 more
Ethiopian Airlines Flight 302, a Boeing 737 MAX 8, crashed six minutes after takeoff from Addis Ababa, Ethiopia, killing all 157 people aboard from 35 countries. The crash was caused by the same MCAS (Maneuvering Characteristics Augmentation System) malfunction that downed Lion Air Flight 610 five …
Ethiopian AirlinesBoeingFederal Aviation AdministrationMCAS system157 victims from 35 countries+1 moreboeing737-maxmcasethiopian-airlinesaviation-safety+3 more
While seeking federal approval of the T-Mobile–Sprint merger, T-Mobile executives sharply increased spending at Trump International Hotel in Washington—about $195,000 on rooms, meeting space, and services—according to company letters and reporting. The company said the stays did not affect the …
T-Mobile USSprintTrump International Hotel WashingtonFCCDOJ Antitrust Division+2 moremerger-reviewlobbyingconflictscorporate-influenceregulatory-capture
AbbVie reached settlement agreements with eight biosimilar manufacturers that allowed immediate biosimilar competition in Europe starting October 16, 2018, but delayed all US market entry until 2023—seven years after Humira’s original patent expired in December 2016. The settlements ended …
AbbVieAmgenSamsung BioepisMylanBoehringer Ingelheim+3 morepharmaceutical-industrypatent-abusedrug-pricinghealthcareevergreening+2 more
The Department of Justice approved Cigna’s $52 billion acquisition of Express Scripts, one of the three largest pharmacy benefit managers, completing the deal announced in March 2018. Assistant Attorney General Makan Delrahim stated that after a six-month investigation reviewing over two …
CignaExpress ScriptsDepartment of JusticeMakan DelrahimDavid Cordanihealthcarepbmpharmacyantitrustregulatory-capture+2 more
Rep. Chris Collins (R-N.Y.), President Trump’s first congressional supporter, was charged with insider trading related to his position on the board of Australian biotechnology company Innate Immunotherapeutics. On June 22, 2017, while attending a Congressional Picnic at the White House, …
Chris CollinsCameron CollinsStephen ZarskyInnate Immunotherapeuticscongressional-corruptioninsider-tradingprosecutionsregulatory-capture
On August 2, 2018, the Trump administration’s Securities and Exchange Commission (SEC) dropped its two-year investigation into how ExxonMobil factors climate change regulations into its calculations of asset values. The SEC informed the energy giant in a letter dated Thursday that it would …
Securities and Exchange Commission (SEC)ExxonMobilDonald TrumpRex Tillersonclimate-denialexxonknewregulatory-captureaccountability-failuretrump-administration
On July 16, 2018, FCC Chairman Ajit Pai announced “serious concerns” about Sinclair Broadcast Group’s proposed $3.9 billion acquisition of Tribune Media and referred the merger to an administrative law judge for a hearing—an extremely rare action that effectively killed the deal. …
Federal Communications Commission (FCC)Ajit PaiSinclair Broadcast GroupTribune MediaDavid Smith+1 moresinclair-broadcastingmedia-consolidationregulatory-capturefccpropaganda+3 more
On July 13, 2018, the Department of Health and Human Services Office of Inspector General released a report finding that former HHS Secretary Tom Price violated federal travel regulations on 20 of 21 trips reviewed, wasting at least $341,000 in taxpayer funds through improper use of chartered …
Department of Health and Human Services Office of Inspector GeneralTom PriceDepartment of Health and Human Servicesinspector-generalcorruptionmisuse-of-fundshealthcarehhs+2 more
On July 9, 2018, Donald Trump named Andrew Wheeler as Acting EPA Administrator following Scott Pruitt’s resignation amid 14 federal corruption investigations. Wheeler, a former coal industry lobbyist who had represented Murray Energy—one of America’s largest coal companies—embodied …
Andrew WheelerDonald TrumpEnvironmental Protection Agency (EPA)Faegre Baker DanielsMurray Energy+1 moreregulatory-captureepafossil-fuelsclimate-denialrevolving-door+1 more
EPA Administrator Scott Pruitt resigned facing at least 14 federal investigations
into corruption, ethics violations, and misuse of taxpayer funds. Scandals included:
spending $43,000 on a soundproof phone booth, first-class travel costing over
$100,000, using staff for personal errands like finding …
Scott PruittDonald TrumpEnvironmental Protection Agency (EPA)Andrew Wheelercorruptioneparegulatory-captureethics-violationcabinet-scandal+2 more
Bayer AG completed its $63 billion acquisition of Monsanto after receiving antitrust approval from U.S. and European regulators, consolidating the agricultural seeds and chemicals industry from the “Big Six” into a “Big Four” oligopoly controlling over 60% of global seed …
Bayer AGMonsantoDepartment of JusticeAntitrust DivisionEuropean Commission+1 moreantitrustconsolidationmergeragricultureoligopoly+4 more
President Trump signs the Economic Growth, Regulatory Relief, and Consumer Protection Act (S.2155), dramatically weakening post-2008 financial regulations by raising the asset threshold for ‘systemically important financial institution’ (SIFI) designation from $50 billion to $250 …
Donald TrumpGreg BeckerSilicon Valley BankMike CrapoMark Warner+3 morederegulationbankingdodd-frankregulatory-capturelobbying+2 more
The Federal Reserve Bank of Kansas City reversed its 2017 denial and approved Reserve Trust Company’s master account application in May 2018, approximately nine months after former Fed Governor Sarah Bloom Raskin allegedly contacted Kansas City Fed President Esther George. The approval raised …
Sarah Bloom RaskinReserve Trust CompanyFederal Reserve Bank of Kansas CityEsther GeorgePat Toomey+1 morefederal-reservecorruptionrevolving-doorsarah-bloom-raskinkansas-city-fed+3 more
Facebook intensively lobbies the Irish government and Data Protection Commission in advance of GDPR implementation, successfully negotiating weaker enforcement and regulatory interpretation that allows continued surveillance practices. The lobbying campaign creates Ireland as a data protection …
FacebookIrish Data Protection CommissionEnda Kenny (Irish Taoiseach)Max SchremsEuropean Commissionfacebookgdprlobbyingregulatory-captureprivacy+3 more
Trump-appointed Acting CFPB Director Mick Mulvaney effectively shuts down the Consumer Financial Protection Bureau’s investigation into the Equifax data breach that exposed 147 million Americans to identity theft. After former Director Richard Cordray authorized a full-scale investigation in …
Mick MulvaneyConsumer Financial Protection Bureau (CFPB)EquifaxDonald TrumpRichard Cordraycorruptionregulatory-capturecfpbtrump-administrationcorporate-impunity+2 more
On January 24, 2018, the Senate confirmed Alex Azar as Secretary of Health and Human Services by a vote of 55-43, installing as the nation’s top healthcare regulator a pharmaceutical executive who had overseen dramatic insulin price increases during his decade at Eli Lilly. As President of …
Alex AzarEli LillyDepartment of Health and Human ServicesRon WydenDonald Trumprevolving-doorregulatory-capturehealthcarepharmaceutical-industryinsulin-pricing+3 more
Dan Elwell becomes acting FAA Administrator on January 7, 2018, when Michael Huerta’s five-year term ends, exemplifying the revolving door between aviation regulators and the industry they oversee. Elwell, who had served as Deputy Administrator since June 2017, brought extensive aviation …
Dan ElwellFederal Aviation AdministrationMichael HuertaTransportation Secretary Elaine ChaoBoeing Corporation+7 moreregulatory-capturefaa-leadershipboeing-737-maxrevolving-dooraviation-regulation+1 more
On December 21, 2017, Secretary Betsy DeVos announced a radical departure from Obama administration policy by implementing an earnings-based formula for Corinthian Colleges debt relief that denied full forgiveness to fraud victims and calculated partial relief based on post-graduation earnings. …
Betsy DeVosDepartment of Educationstudent-debtregulatory-capturebetsy-devoscorinthian-colleges
The FCC, led by Chairman Ajit Pai, votes 3-2 along party lines to repeal Obama-era net neutrality rules, marking a major victory for telecommunications industry interests over consumer protections. Pai, a former Verizon attorney appointed by Trump, argued the regulations represented government …
Ajit PaiDonald TrumpVerizon CommunicationsMignon ClyburnComcast+2 moreregulatory-capturefccnet-neutralityajit-paitelecommunications+2 more
Education Secretary Betsy DeVos systematically blocked debt relief for over 200,000 students defrauded by for-profit colleges, overruling internal Education Department career staff who had recommended full loan forgiveness. Internal memos from the department’s Borrower Defense Unit dated …
Betsy DeVosU.S. Department of EducationCorinthian CollegesITT Technical Instituteregulatory-capturepredatory-lendingeducationstudent-debtconsumer-protection+1 more
President Trump ordered an 85 percent reduction of Bears Ears National Monument from 1.35 million acres to 201,397 acres, the largest rollback of conservation protections in U.S. history. The proclamation split the monument into two noncontiguous units (Indian Creek and Shash Jáa), opening …
Donald TrumpRyan ZinkeBureau of Land ManagementNavajo NationHopi Tribe+3 moreinstitutional-captureextractive-industriesenvironmental-destructionindigenous-rightsregulatory-capture
CVS Health announced its $69 billion acquisition of health insurer Aetna (with debt, $77 billion total), marking the largest healthcare merger in U.S. history and accelerating vertical integration in pharmacy benefit management. Under the deal, Aetna shareholders would receive $145 in cash plus …
CVS HealthAetnaLarry MerloMark BertoliniDepartment of Justicehealthcarepbmpharmacyantitrustregulatory-capture+2 more
President Trump installed Mick Mulvaney, his Office of Management and Budget director, as acting director of the Consumer Financial Protection Bureau in a contested appointment that triggered a legal battle. As a congressman, Mulvaney had been a top recipient of payday lending campaign cash and once …
Mick MulvaneyDonald TrumpConsumer Financial Protection Bureau (CFPB)regulatory-capturepredatory-lendingconsumer-protectioncorruptionpayday-lending+1 more
The Nebraska Public Service Commission votes 3-2 to approve TransCanada Corporation’s application for route approval for the Keystone XL Pipeline, clearing a major obstacle for the controversial tar sands oil pipeline after nearly a decade of fierce opposition from Nebraska landowners, …
Nebraska Public Service CommissionTransCanada CorporationBold NebraskaJane KleebDomina Law Group+1 moreeminent-domainenvironmentalregulatory-capturecorporate-corruptionproperty-rights+1 more
The Federal Trade Commission approved Amazon’s $13.7 billion acquisition of Whole Foods Market on August 23, 2017, without an in-depth investigation. This decision demonstrated regulatory challenges in addressing 21st-century tech monopolies, as the FTC did not find substantial anticompetitive …
On July 31, 2017, SCANA Corporation and South Carolina’s state-owned utility Santee Cooper abandoned the V.C. Summer nuclear expansion project after a decade of construction, $9 billion in expenditures, and massive cost overruns. Despite the complete failure to deliver any functioning nuclear …
SCANA CorporationSantee CooperKevin MarshStephen ByrneWestinghouse Electric Company+2 morecorporate-fraudinstitutional-captureregulatory-captureutility-corruptionconsumer-exploitation
On July 21, 2017, the Senate confirmed Mark Esper as Secretary of the Army, installing a former Raytheon weapons lobbyist in a senior Pentagon position overseeing billions of dollars in defense contracts. Esper had served as Raytheon’s vice president of government relations from July 2010 …
Mark EsperRaytheonDonald TrumpElizabeth Warrenrevolving-doorraytheondefense-contractorspentagonlobbying+1 more
On June 15, 2017, the Federal Reserve Bank of Kansas City initially denied Reserve Trust Company’s application for a master account, one month after former Fed Governor Sarah Bloom Raskin joined the fintech’s board. Subsequent investigations revealed that Raskin allegedly made direct …
Sarah Bloom RaskinReserve Trust CompanyFederal Reserve Bank of Kansas CityEsther GeorgePat Toomey+1 morefederal-reservecorruptionrevolving-doorsarah-bloom-raskinkansas-city-fed+4 more
Education Secretary Betsy DeVos announced on June 14, 2017, that she would delay implementation of Obama-era “borrower defense to repayment” regulations scheduled to take effect on July 1, 2017—rules designed to help students defrauded by predatory colleges like Corinthian and ITT Tech …