Donors Press Kamala Harris to Remove FTC and SEC Chairs

Ahead of the Presidential elections in the United States, Democratic party donors are reportedly increasing the pressure on Vice President Kamala Harris, asking her to make changes to the senior-level teams at the Federal Trade Commission (FTC) and the Securities and Exchange Commission (SEC).

Democratic Donors Push for Ousting of FTC Chair

Lina Khan, FTC’s chair, is one of the executives at the sights of Democrat donors. As announced by Bloomberg, citing sources close to the matter, Harris’ Democratic donors asked her to fire Khan if the Vice President wins the upcoming Presidential elections.

Generally speaking, the appointments in the FTC and the SEC shouldn’t be impacted by the political landscape. Yet, it is not impossible for the future President to make changes to the management team of the two agencies.

The calls for Khan’s dismissal emerged this summer. At the time, Barry Diller, the famous billionaire, IAC chairman and member of the Board of Directors at MGM Resorts, criticized her in an interview for CNBC. Diller claimed that Khan was against “almost anything” that can help businesses flourish and grow.

On the other hand, Reid Hoffman, LinkedIn’s co-founder, was also critical of the FTC’s chair. Speaking against Khan, Hoffman said that she was “waging war on American businesses.”

MGM Resorts was the victim of a devastating cyberattack dating back to last September. In light of the cyber issue, the company faced an investigation by the FTC.

The agency’s probe resulted in a lawsuit filed by MGM against the FTC with the operator asking Kahn to recuse herself from the investigation. The leading gaming company made that request explaining that Khan and several of her coworkers visited one of its properties during the cyberattack.

So far, neither of the sides in the legal dispute has gained an advantage and their battle continues.

Harris Pressured to Fire SEC’s Chair

Besides FTC’s chair, as noted, one member of the SEC is also drawing criticism. Per Bloomberg’s report, Gary Gensler, SEC’s chair, is reportedly disliked by both Democratic and Republic donors.

According to speculations, Gensler may be among the candidates for Treasury Secretary. Still, that potential change is contingent on Vice President Harris winning the upcoming Presidential elections.

While that’s one possibility, some of Harris donors reportedly push her to fire Gensler in case she wins the presidency.

Last month, UNITE HERE showed their support for Harris. This move came despite Donald Trump’s promise to slash tip taxes. The former president made that promise at a rally in Nevada back in July.