L. Paul Bremer III, appointed head of the Coalition Provisional Authority (CPA) on May 6, 2003, begins issuing binding orders with the force of law to radically transform Iraq’s economy from centralized planning to free-market capitalism. From May 6, 2003 until June 28, 2004, Bremer issues 100 …
Paul BremerCoalition Provisional AuthorityGeorge W. BushDonald RumsfeldDick Cheneyshock-doctrineiraq-warprivatizationcorporate-powerneoliberalism+3 more
The Office of the Comptroller of the Currency, led by Comptroller John Hawke Jr, issues a preemption determination blocking enforcement of the Georgia Fair Lending Act against national banks, marking a turning point in federal regulators’ campaign to shield predatory lenders from state …
Office of the Comptroller of the CurrencyJohn Hawke JrGeorgia State LegislatureNational City BankAmerican Bankers Associationregulatory-capturepredatory-lendingpreemptionhousing-policyhousing
The White House Iraq Group (WHIG) coordinated an unprecedented media manipulation campaign in September 2002 to build public support for the Iraq War. On September 7-8, 2002, top administration officials including Cheney, Rice, and Rumsfeld appeared on all five major Sunday news programs, delivering …
Dick CheneyCondoleezza RiceDonald RumsfeldRichard MyersRichard Armitage+5 morepropagandawhigcorporate-contractor-relationshipspermanent-capture-infrastructurerevolving-door-institutionalization+11 more
On July 31, 2002, Entergy Nuclear Vermont Yankee LLC—a subsidiary of Entergy Corporation of New Orleans—completes its $180 million purchase of the Vermont Yankee nuclear power plant from Vermont Yankee Nuclear Power Corporation, a consortium of eight New England utilities that originally owned the …
Entergy CorporationVermont Yankee Nuclear Power CorporationVermont Public Service BoardVermont Department of Public ServiceVermont General Assembly+1 morenuclear-powervermont-yankeecorporate-regulationstate-federal-conflictentergy+3 more
The Bush administration’s Environmental Protection Agency and Army Corps of Engineers jointly revise Clean Water Act regulations to classify mining debris and waste rock as “fill material” that can legally be dumped into streams and valleys. The rule change enables the coal …
George W. BushU.S. Environmental Protection AgencyU.S. Army Corps of EngineersCoal Industryenvironmental-destructionregulatory-capturecoal-industryadministrative-corruptionclean-water-act+2 more
The U.S. Department of Justice reaches a settlement with Microsoft on November 1, 2001, abandoning the structural breakup remedy ordered by Judge Thomas Penfield Jackson in favor of behavioral restrictions. The Bush administration DOJ, after taking office in January 2001, announces on September 6, …
U.S. Department of JusticeMicrosoft CorporationGeorge W. BushJohn AshcroftBill Gates+1 moreantitrusttech-monopolyregulatory-captureenforcement-failurecorporate-power+2 more
The Patients’ Bill of Rights, legislation that would have allowed patients to sue HMOs for denying medically necessary care, dies in Congress after the managed care industry spends over $60 million lobbying against it. Despite bipartisan support and public outrage over HMO denials that …
George W. BushHealth Insurance Association of AmericaAmerican Association of Health PlansJohn McCainEdward Kennedy+1 morehealthcaremanaged-carelobbyingregulatory-captureinsurance-industry+1 more
The Bush administration releases the National Energy Policy, revealing extensive incorporation of Enron’s recommendations. Analysis shows the task force adopted “all or significant portions” of Enron’s recommendations in seven of eight policy areas, with at least 17 policies …
Dick CheneyGeorge W. BushEnronKenneth LayNational Energy Policy Development Group+1 moreenronenergy-policycorporate-captureregulatory-capturecorruption+1 more
The Bush administration releases the National Energy Policy report developed by Cheney’s Energy Task Force, containing 105 recommendations that overwhelmingly favor fossil fuel industries while giving minimal attention to renewable energy. The report recommends opening the Arctic National …
George W. BushDick CheneyNational Energy Policy Development GroupExxonMobilShell Oil+6 moreenergy-policycorporate-captureoil-industrycheney-task-forceregulatory-capture+3 more
On April 17, 2001, Enron CEO Kenneth Lay met with Vice President Dick Cheney and his National Energy Policy Development Group (Energy Task Force), presenting a three-page “wish list” of corporate energy policy recommendations. This meeting was one of at least six interactions between …
Kenneth LayDick CheneyEnronNational Energy Policy Development GroupGeorge W. Bush+1 moreenroncheneyenergy-task-forcecorporate-capturecorruption+2 more
On March 13, 2001, President George W. Bush announced the United States would not implement the Kyoto Protocol on climate change, signaling the beginning of a systematic rollback of environmental protections coordinated with fossil fuel industry lobbyists. The decision came just weeks after Vice …
George W. BushChristine Todd WhitmanDick CheneyAmerican Petroleum InstituteExxonMobil+2 moreenvironmentaleparegulatory-captureclimate-denialbush-administration+1 more
Vice President Dick Cheney initiated secret meetings of the National Energy Policy Development Group, systematically involving Enron executives like Kenneth Lay while excluding environmental groups. Between late January and April 2001, the task force held at least 40 meetings with energy industry …
Dick CheneyKenneth LayGeorge W. Bushenergy-policycorporate-capturecheneyenronregulatory-capture+1 more
The Federal Communications Commission approves Viacom’s $35.6 billion acquisition of CBS Corporation despite the merger violating FCC regulations prohibiting one company from owning television stations reaching more than 35% of the U.S. audience and prohibiting ownership of two networks if one …
ViacomCBS CorporationSumner RedstoneMel KarmazinFCC Federal Communications Commissionmedia-consolidationtelecommunicationsmergerfccderegulation+2 more
The NASDAQ Composite stock market index peaks at 5,048.62 on Friday, March 10, 2000, marking the height of the dot-com bubble before collapsing 78% to 1,114 by October 2002, erasing all gains made during the bubble. Between 1995 and the March 2000 peak, NASDAQ investments rise 600% in what becomes …
Investment BanksSecurities AnalystsSecurities and Exchange Commission (SEC)NASDAQVenture Capitalists+1 morederegulationregulatory-capturesecurities-fraudanalyst-conflictsirrational-exuberance+2 more
President Bill Clinton signs the Gramm-Leach-Bliley Act (Financial Services Modernization Act) into law on November 12, 1999, repealing key provisions of the Glass-Steagall Act of 1933 that separated commercial banking from investment banking and insurance. The Senate passes the final bill 90-8 on …
Phil GrammJim LeachThomas J. Bliley Jr.Bill ClintonRobert Rubin+4 morederegulationregulatory-captureneoliberalismbanking-deregulationfinancial-crisis-precursor+3 more
The President’s Working Group on Financial Markets issues a unanimous report recommending that over-the-counter derivatives be explicitly exempted from federal regulation, directly repudiating CFTC Chair Brooksley Born’s 1998 warnings about systemic risk. The report is signed by Treasury …
Lawrence SummersRobert RubinAlan GreenspanArthur LevittBill Rainer+1 morederivativesderegulationcfmafinancial-crisisregulatory-capture+2 more
Robert Rubin joins Citigroup just four months after leaving his position as Treasury Secretary, shortly after the November 1999 passage of the Gramm-Leach-Bliley Act that repealed Glass-Steagall. Rubin’s move to Citigroup - the principal beneficiary of Glass-Steagall repeal - represents one of …
Robert RubinCitigroupSandy WeillGoldman SachsTreasury Departmentrevolving-doorcitigroupglass-steagallcorruptionregulatory-capture+2 more
The U.S. Senate confirms Lawrence Summers as the 71st Secretary of the Treasury, replacing Robert Rubin and continuing the aggressive deregulation agenda. Summers had spent the previous year as Deputy Secretary orchestrating opposition to derivatives regulation, including making an “irate …
Lawrence SummersBill ClintonRobert RubinU.S. SenateWall Street derivatives dealerstreasuryderivativesderegulationrevolving-doorfinancial-crisis+2 more
Time Magazine publishes its February 15, 1999 edition featuring Treasury Secretary Robert Rubin, Deputy Secretary Lawrence Summers, and Federal Reserve Chairman Alan Greenspan on the cover as “The Committee to Save the World,” celebrating their management of the 1997-1998 Asian and …
Robert RubinLawrence SummersAlan GreenspanTime MagazineBrooksley Bornderivativesderegulationfinancial-crisismedia-propagandaregulatory-capture+2 more
President Clinton signs the Digital Millennium Copyright Act (DMCA), with Section 512 creating ‘safe harbor’ liability protections for online service providers (OSPs) that comply with ’notice and takedown’ procedures. While presented as balancing copyright protection with …
Bill ClintonU.S. Copyright OfficeGoogleYouTubeRecording Industry Association of Americaintellectual-propertycopyrightdmcaregulatory-capturecensorship+2 more
President Bill Clinton signs the Sonny Bono Copyright Term Extension Act (CTEA), extending copyright terms by 20 years—from life plus 50 years to life plus 70 years for individual authors, and from 75 to 95 years for corporate works. The legislation, derisively nicknamed the ‘Mickey Mouse …
Walt Disney CompanyBill ClintonTime WarnerUniversalViacom+2 moreintellectual-propertycopyrightregulatory-capturecorporate-lobbyingdisney+2 more
On October 7, 1998, President Bill Clinton signed the Higher Education Amendments of 1998, a reauthorization of the Higher Education Act that loosened regulations on for-profit colleges and set the stage for the industry’s explosive growth over the following decade. The legislation represented …
President Bill ClintonCongressApollo Group (University of Phoenix)Career Education CorporationHigher education lobbyistseducationfor-profit-collegesstudent-debtregulatory-capturederegulation
A pivotal moment in the K Street Project’s systematic transformation of Washington’s lobbying ecosystem, where Republican leadership demonstrated its power to coerce and control industry associations by punishing the Electronic Industries Alliance for hiring a Democratic congressman, …
Tom DeLayNewt GingrichDave McCurdyBill PaxonElectronic Industries Alliance+2 moreregulatory-capturecorporate-coercionpolitical-blacklistinglobbying-controlpartisan-infrastructure
On September 23, 1998, Federal Reserve Bank of New York President William McDonough orchestrated a $3.6 billion bailout of hedge fund Long-Term Capital Management (LTCM) by convincing 14 major banks and brokerage firms to inject capital in exchange for 90% ownership of the failing fund. Founded by …
William McDonoughAlan GreenspanJohn MeriwetherLong-Term Capital ManagementFederal Reserve Bank of New Yorkfinancial-crimeregulatory-capturefederal reservebailoutsystemic-risk+3 more
The U.S. Department of Justice, joined by Attorneys General from 20 states and the District of Columbia, files antitrust charges against Microsoft on May 18, 1998, alleging the company violated the Sherman Act by using its operating system dominance to thwart competition. The complaint charges four …
U.S. Department of JusticeMicrosoft CorporationBill GatesJoel KleinJanet Reno+1 moreantitrusttech-monopolyregulatory-capturecorporate-powerenforcement-failure+1 more
CFTC Chair Brooksley Born issued a concept release seeking public comment on regulating the $29 trillion over-the-counter derivatives market, warning of systemic risks from unregulated trading. Within hours, Treasury Secretary Robert Rubin, Federal Reserve Chairman Alan Greenspan, and SEC Chairman …
Brooksley BornRobert RubinLawrence SummersAlan GreenspanArthur Levittderivativescftcregulatory-capturefinancial-crisissystemic-risk+2 more
Citicorp CEO John Reed and Travelers Group CEO Sanford Weill announce on April 6, 1998, the merger of their companies to form Citigroup, a $140 billion conglomerate combining banking, securities, and insurance services under brands including Citibank, Smith Barney, Primerica, and Travelers. The …
Sanford WeillJohn ReedCiticorpTravelers GroupFederal Reserve+3 morederegulationregulatory-captureneoliberalismbanking-deregulationcorporate-power+2 more
In April 1998, the American Petroleum Institute (API) convened a secret meeting of oil industry executives and public relations consultants to draft the “Global Climate Science Communications Plan.” The leaked document reveals a coordinated strategy to manufacture doubt about climate …
American Petroleum InstituteExxonMobilChevronSouthern CompanyGlobal Climate Coalition+1 moreenvironmentalclimate-denialcorporate-disinformationfossil-fuelsregulatory-capture
President Clinton signs the FDA Modernization Act (FDAMA), codifying accelerated drug approval pathways developed during the AIDS crisis while expanding provisions favorable to pharmaceutical manufacturers including streamlined advertising approval. The law accelerates the transformation of FDA from …
Bill ClintonPharmaceutical Research and Manufacturers of AmericaFood and Drug Administration (FDA)James Jeffordshealthcarepharmaceutical-industryregulatory-capturefdadrug-safety
The Federal Trade Commission approved Boeing’s $13.3 billion acquisition of McDonnell Douglas, completing a merger wave that reduced major U.S. defense contractors from 51 firms in the late 1980s to just five dominant primes by the late 1990s. The consolidation wave was actively encouraged by …
BoeingMcDonnell DouglasFederal Trade CommissionDepartment of DefenseLes Aspin+1 moreantitrustconsolidationmergerdefense-contractorsoligopoly+3 more
President Clinton signs the Health Insurance Portability and Accountability Act (HIPAA), bipartisan legislation that ostensibly addresses insurance portability between jobs but creates a regulatory framework that permits extensive healthcare industry data sharing while blocking more comprehensive …
Bill ClintonNancy KassebaumEdward KennedyHealth Insurance Association of AmericaAmerican Hospital Associationhealthcareinsurance-industryregulatory-capturedata-privacyportability
President Bill Clinton signs the Telecommunications Act of 1996 into law, eliminating the national cap on radio station ownership (previously 40 stations maximum) and increasing the television audience reach cap from 25% to 35%, triggering one of the largest media consolidation waves in American …
Bill ClintonU.S. CongressFederal Communications Commission (FCC)Clear Channel CommunicationsViacom+1 moremedia-consolidationderegulationtelecommunications-actcorporate-lobbyingfcc+2 more
The FDA approved Purdue Pharma’s OxyContin application, including a scientifically unsubstantiated claim that delayed absorption ‘is believed to reduce the abuse liability of a drug.’ This approval occurred without clinical trials to prove the safety claim and marked the beginning …
FDAPurdue PharmaDr. Curtis WrightSackler Familyregulatory-capturefdapharmaceuticalsopioid-crisisrevolving-door+1 more
In a landmark case of regulatory capture, Dr. Curtis Wright IV, leading the FDA’s Division of Anesthetic, Critical Care, and Addiction Drug Products, approved OxyContin with controversial language that misrepresented the drug’s addictive potential. Wright held private meetings with …
Curtis Wright IVPurdue PharmaFood and Drug Administration (FDA)Division of Anesthetic, Critical Care, and Addiction Drug ProductsDepartment of Justiceregulatory-capturepharmaceutical-industryopioid-crisisfda-corruptionpublic-health
Robert E. Rubin was sworn in as the 70th Secretary of the Treasury, bringing Wall Street directly into the highest levels of economic policymaking. Rubin had spent 26 years at Goldman Sachs, rising to co-chairman from 1990-1992, before joining the Clinton administration as director of the National …
Robert RubinBill ClintonGoldman Sachsrevolving-doorgoldman-sachstreasuryfinancial-deregulationregulatory-capture
Between 1990 and 2010, the American Legislative Exchange Council’s (ALEC) Environment Task Force—directly funded by Koch Industries, ExxonMobil, and Peabody Energy—systematically passed over 100 model bills designed to weaken state environmental protections. The task force operated as a …
American Legislative Exchange Council (ALEC)Koch IndustriesExxonMobilPeabody EnergyDuke Energy+2 morealeclegislative-captureregulatory-capturefossil-fuelsclimate-denial+3 more
President Clinton signs the Riegle-Neal Interstate Banking and Branching Efficiency Act, removing Depression-era restrictions that prevented banks from operating across state lines. The law enables massive consolidation in the banking industry, with the number of commercial banks declining from over …
President Bill ClintonSenator Donald RiegleRepresentative Stephen NealAmerican Bankers AssociationNationsBank+1 morebanking-deregulationhousing-policyconsolidationregulatory-capturehousing
Senate Majority Leader George J. Mitchell declares the Clinton administration’s Health Security Act dead, with the bill never coming to a vote in either chamber of Congress. The failure represents a devastating defeat for comprehensive healthcare reform after an intense lobbying campaign by …
Bill ClintonHillary ClintonHealth insurance industryHealth Insurance Association of AmericaPharmaceutical Industryhealthcareregulatory-capturelobbyinginsurance-industrycorporate-power+1 more
On her final day as Chair of the Commodity Futures Trading Commission, Wendy Gramm approves a regulatory exemption allowing Enron to trade energy derivatives without CFTC oversight. The exemption, granted on January 14, 1993 (some sources cite January 21, the final day of the George H.W. Bush …
Wendy GrammPhil GrammEnron CorporationCFTC Commodity Futures Trading CommissionKenneth Layderivativescorruptionrevolving-doorenronenergy-trading+3 more
The Prescription Drug User Fee Act (PDUFA) of 1992 fundamentally restructured FDA drug approval financing by creating a direct financial relationship between pharmaceutical companies and regulators. The Act mandated drug companies pay fees to fund FDA drug reviews, which eventually comprised up to …
Food and Drug Administration (FDA)Pharmaceutical Research and Manufacturers of AmericaU.S. CongressPharmaceutical Companiesregulatory-capturepharmaceutical-industryfdagovernment-fundinginstitutional-transformation
The Senate Ethics Committee concludes its Keating Five investigation with formal reprimands and rebukes, documenting systematic corruption where five senators traded regulatory intervention for $1.5 million in campaign contributions from Charles Keating. Senator Alan Cranston (D-CA) receives the …
Alan CranstonDennis DeConciniDonald RiegleJohn GlennJohn McCain+2 morekeating-fivesenate-ethicscorruptioncampaign-contributionsregulatory-capture
On November 15, 1990, President George H.W. Bush signed the Clean Air Act Amendments, the most significant update to air pollution law since 1970. While the law achieved real environmental gains, the legislative process demonstrated how industry successfully shaped regulatory approaches to minimize …
George H.W. BushEnvironmental Defense FundEdison Electric InstituteAmerican Petroleum InstituteNational Coal Association+1 moreenvironmentalclean-air-actregulatory-captureemissions-tradingcorporate-lobbying+1 more
In May 1990, Vladimir Putin transitioned from active KGB service to local government, becoming an international affairs advisor to St. Petersburg Mayor Anatoly Sobchak. This pivotal moment marked a complex personnel migration from intelligence services into emerging democratic administrative roles, …
Vladimir PutinAnatoly SobchakKGB PersonnelSt. Petersburg City Administrationputin-biographyinstitutional-transitionregulatory-capturepersonnel-migrationpost-soviet-russia
On March 24, 1989, the Exxon Valdez oil tanker ran aground in Prince William Sound, Alaska, spilling 11 million gallons of crude oil and devastating 1,300 miles of coastline. Beyond the immediate environmental catastrophe, Exxon’s response established a template for corporate liability evasion …
In 1989, major fossil fuel and automobile companies formed the Global Climate Coalition (GCC), an industry front group that would spend over a decade blocking international climate action while publicly claiming the science was uncertain. Internal documents later revealed the coalition’s own …
ExxonMobilShellChevronFord Motor CompanyGeneral Motors+3 moreenvironmentalclimate-denialcorporate-lobbyingfossil-fuelsregulatory-capture+1 more
IBP Inc., the nation’s largest meatpacking company, agrees to pay a $975,000 fine and implement a comprehensive ergonomics program to address rampant repetitive motion injuries at its Dakota City, Nebraska beef plant, settling what OSHA officials call “the worst example of underreporting …
IBP Inc.Occupational Safety and Health AdministrationUnited Food and Commercial WorkersCongressional investigatorslabor-exploitationregulatory-capturecorporate-corruptionworkplace-safetymeatpacking+1 more
In August 1988, Ron Arnold and Alan Gottlieb convened the Multiple Use Strategy Conference in Reno, Nevada, launching the “Wise Use” movement. The conference brought together 250 representatives from timber, mining, ranching, and oil interests to coordinate an industry-funded campaign …
Ron ArnoldAlan GottliebCenter for the Defense of Free EnterpriseAmerican Petroleum InstituteNational Mining Association+2 moreenvironmentalastroturfcorporate-lobbyingpublic-landsregulatory-capture+1 more
FCC Chairman Dennis R. Patrick’s Commission votes 4-0 to abolish the Fairness Doctrine in the Syracuse Peace Council decision, eliminating the 38-year requirement that broadcast licensees using publicly-owned airwaves must provide balanced coverage of controversial issues and present opposing …
Dennis R. PatrickFederal Communications Commission (FCC)Ronald ReaganMark S. FowlerMimi Weyforth Dawson+3 moremedia-regulationfairness-doctrinederegulationfccregulatory-capture+3 more
Five U.S. Senators—Alan Cranston (D-CA), Dennis DeConcini (D-AZ), John Glenn (D-OH), John McCain (R-AZ), and Donald Riegle (D-MI)—meet with Federal Home Loan Bank Board officials to pressure them to halt regulatory investigation of Charles Keating’s Lincoln Savings and Loan. The senators had …
Alan CranstonDennis DeConciniJohn GlennJohn McCainDonald Riegle+3 morekeating-fiveregulatory-capturecampaign-contributionslincoln-savingssystematic-corruption+1 more
President Reagan signs the Consolidated Omnibus Budget Reconciliation Act of 1986 (COBRA), which includes the Emergency Medical Treatment and Active Labor Act (EMTALA) requiring hospitals with emergency departments to screen and stabilize any patient regardless of ability to pay. While framed as …
Ronald ReaganAmerican Hospital AssociationHealth Insurance Association of AmericaPete Starkhealthcareunfunded-mandateemergency-carecost-shiftingregulatory-capture