The Rise of the Imperial Regulator

Source: National Review
by Andrew Stuttaford

“The FTC’s job is to enforce the law, not to make it, but it does seem that, whatever Congress may do, the agency will attempt to use the pressure that even ultimately unsuccessful enforcement action can bring to discourage (legal) corporate behavior of which it disapproves, and it will do so at the expense of the taxpayers who fund the FTC and the shareholders of the companies who have to go through the expense of defending themselves against meritless action. The FTC, of course, is by no means alone. The reason that the proposed nomination of Saule Omarova as comptroller of the currency has attracted so much controversy has little to do with an essentially unexceptional and long-distant Soviet past and almost everything to do with fears of what she might do with the power that comes with that job.” (11/21/21)