Some of Vice President Kamala Harris’ wealthier donors are informally asking for FTC Chair Lina Khan to be replaced, reports Bloomberg. It’s not really surprising: Her expansive definition of antitrust enforcement has countless industries frantic, and the largest corporations opposed her appointment from the start.
Khan’s FTC, which has opposed mergers that would have been waved through by previous FTC chairs, has seen mixed success. But her nomination by President Biden in 2021 was clearly a challenge to longstanding doctrines that allowed mega-corporations, including “Big Tech,” to consolidate power. She went so far as to call them “mob bosses” in a recent interview with TechCrunch.
The donor pressure may be misplaced, considering that Khan’s term ends later this month. While she will remain in place until the next agency chief is appointed, chances are this will extend her term by months, not years.
Meanwhile, the donors reportedly also expressed a dislike of SEC Chairman Gary Gensler, whose term ends in June 2026.
Source : Techcrunch
