The Battle Against Corporate Power: Wall Street Donors Launch Effort to Oust FTC Chair
A push by major Wall Street donors aims to remove FTC Chair Lina Khan for her crackdowns on corporate power.
Senator Bernie Sanders has condemned the billionaire-backed campaign to oust Khan, highlighting the corrupting influence of money in politics. Billionaires like Reid Hoffman have donated millions to Vice President Kamala Harris’s campaign and now seek to influence her to remove Khan from her role due to her relentless actions against corporate abuses.
Other wealthy donors, like Barry Diller, have openly announced plans to lobby against Khan, signaling a growing rift between corporate interests and those advocating for accountability and fairness in the business sphere. Despite the mounting pressure, Sanders and Senator Elizabeth Warren have voiced support for Khan, lauding her efforts to challenge large corporations and protect consumers.
Khan’s tenure as FTC Chair has been marked by confrontations with tech giants and pharmaceutical companies, implementing rules that benefit workers and promote competition in the marketplace. The potential removal of Khan would be a setback for those pushing for stronger antitrust regulations and greater corporate accountability.
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