{"id":1050102,"date":"2024-12-04T15:57:22","date_gmt":"2024-12-04T20:57:22","guid":{"rendered":"https:\/\/democrats.org\/?p=1050102"},"modified":"2024-12-04T15:57:22","modified_gmt":"2024-12-04T20:57:22","slug":"trump-wants-to-let-industry-insider-paul-atkins-rig-the-economy-for-his-billionaire-backers","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/trump-wants-to-let-industry-insider-paul-atkins-rig-the-economy-for-his-billionaire-backers\/","title":{"rendered":"Trump Wants to Let Industry Insider Paul Atkins Rig the Economy for His Billionaire Backers\u00a0"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

In response to Donald Trump picking Paul Atkins as the SEC Commissioner, <\/em>DNC Rapid Response Director Alex Floyd released the following statement: <\/em><\/strong><\/p>\n\n\n\n

\u201cDonald Trump chose Project 2025 contributor Paul Atkins for his track record of siding with Wall Street over Main Street \u2013 making him the perfect ally for Trump\u2019s plans to rig the economy for the ultra-rich. Atkins has repeatedly sidestepped the law to benefit special interests, and has proven he\u2019ll gladly sell out the American people to the highest bidder at Trump\u2019s command.\u201d <\/p>\n\n\n\n

NEW: Donald Trump tapped Paul Atkins to lead the Securities & Exchange Commission, coming through on his promise to deliver for big Wall Street donors.<\/strong><\/p>\n\n\n\n

Libbey Dean, NewsNation<\/a>: \u201cTrump has nominated Paul Atkins for SEC Chairman.\u201d<\/p>\n\n\n\n

WSJ<\/a>: \u201cThe crypto industry\u2019s courting of Trump was on full display at a June fundraising dinner<\/strong> in San Francisco. In attendance were representatives from some of crypto\u2019s largest U.S. businesses such as the exchange Coinbase and the payments platform Ripple, as well as the Winklevoss twins, whom Trump jokingly referred to as \u2018supermodels.\u2019 …<\/p>\n\n\n\n

\u201cThe talk quickly turned to a shared dislike of Securities and Exchange Commission Chair Gary Gensler, whose aggressive enforcement agenda has made him something of a boogeyman for crypto companies.<\/strong> …<\/p>\n\n\n\n

\u201cTrump\u2019s pledge to fire Gensler on his first day in office <\/strong>was met with such thunderous applause and loud cheers from the audience at the bitcoin conference that he repeated the promise.\u201d <\/p>\n\n\n\n

Politico<\/a>: \u201cTrump\u2019s choice for the SEC is expected to pursue a lighter-touch approach<\/strong> to overseeing financial firms and the markets.\u201d<\/p>\n\n\n\n

CNBC<\/a>: \u201cTrump<\/strong> PAC has raised about $7.5 million in crypto donations<\/strong> since early June\u201d <\/p>\n\n\n\n

Fast Company<\/a>: \u201c[Atkins] set up his own consultancy, Patomak Global Partners, which worked in the digital finance sector with clients. And since 2017, Atkins was cochair of the Token Alliance<\/strong>, an industry-led initiative overseen by the Chamber of Digital Commerce, which represents the crypto sector\u2019s interests<\/strong>.\u201d<\/p>\n\n\n\n

Inc<\/a>: \u201cTrump Nominates Crypto Fan Paul Atkins to Run the SEC\u201d <\/strong><\/p>\n\n\n\n

\u201cAtkins is the co-chair of a crypto industry advocacy group.\u201d <\/strong><\/p>\n\n\n\n

Atkins has a long history of helping companies sidestep the law and influence regulators while ignoring conflicts of interest.  <\/strong><\/p>\n\n\n\n

WSJ<\/a>:  \u201cHow Trump\u2019s Regulation Skeptic Helps Wall Street Navigate the Rules<\/strong>\u201d <\/p>\n\n\n\n

\u201cPaul Atkins is Wall Street\u2019s regulation whisperer.<\/p>\n\n\n\n

\u201cThe man tapped by President-elect Donald Trump to oversee his early financial deregulation strategy has spent the past seven years counseling clients how to influence regulators<\/strong>\u2014sometimes charging $1,200 per hour for the advice, according to people familiar with the matter. …<\/p>\n\n\n\n

\u201cSince then, he has prepared private-equity firms for compliance exams, devised strategies for mutual funds to resist government curbs on risk-taking, and helped Chinese accounting firms avert a ban on doing business in the U.S.,<\/strong> according to the people familiar with the matter. Patomak\u2019s other clients have included the U.S. Chamber of Commerce and Fidelity Investments, the people said. …<\/p>\n\n\n\n

\u201cIn other cases, Patomak has aided businesses feuding with the government.<\/strong> In 2013, Mr. Atkins testified in Washington as an expert witness for the Chinese affiliates of the Big Four accounting firms, which had refused to cooperate with a series of SEC accounting-fraud probes. (The firms argued that Chinese law prevented them from sharing documents the SEC sought.) Mr. Atkins tried to convince an SEC administrative judge that he shouldn\u2019t permanently ban the firms from auditing companies listed on U.S. exchanges, as the SEC had proposed.\u201d <\/p>\n\n\n\n

ProPublica<\/a>: \u201cIndeed, the independent monitor of Deutsche\u2019s derivatives reporting, Paul Atkins from Patomak Partners, has his own conflict of interest. <\/strong>Atkins served on Trump\u2019s transition team and played a role in appointing federal financial regulators. He is now monitoring whether Trump\u2019s business partner complies with the terms of a settlement with the Commodity Futures Trading Commission on derivatives reporting.\u201d<\/p>\n\n\n\n

REMINDER: Trump has a long history of selling out the American people to the highest bidder. <\/strong><\/p>\n\n\n\n

Washington Post<\/a>: \u201cTrump makes sweeping promises to donors <\/strong>on audacious fundraising tour\u201d<\/p>\n\n\n\n

\u201cTrump sometimes makes requests higher than his team expects to receive, sometimes surprising his own advisers because he is asking for so much money. By frequently tying the fundraising requests within seconds of promises of tax cuts, oil project infrastructure approvals and other favorable policies and asking for sums more than his campaign and the GOP can legally accept from an individual, Trump is also testing the boundaries of federal campaign finance laws, according to legal experts.\u201d<\/strong><\/p>\n\n\n\n

Rolling Stone<\/a>: \u201cAs Trump Promises Donors Big Policy Favors, Cash Pours In\u201d<\/p>\n\n\n\n

\u201cIn April, Donald Trump asked oil and gas executives to donate $1 billion to help his 2024 presidential campaign<\/strong>, according to The Washington Post, which reported that he had promised the donors a host of policy favors<\/strong>, including a rollback of President Joe Biden\u2019s environmental regulations and faster, painless corporate mergers.<\/p>\n\n\n\n

\u201cNow, fossil fuel cash is pouring in<\/strong>: Last month, Energy Transfer CEO Kelcy Warren hosted a Houston-area fundraiser for Trump \u2014 and he also donated $5 million to the primary pro-Trump super PAC, Make America Great Again Inc. The oil and gas firm Continental Resources, Inc. donated $1 million to MAGA Inc. in late April.\u201d  <\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

In response to Donald Trump picking Paul Atkins as the SEC Commissioner, DNC Rapid Response Director Alex Floyd released the following statement:  \u201cDonald Trump chose Project 2025 contributor Paul Atkins for his track record of siding with Wall Street over Main Street \u2013 making him the perfect ally for Trump\u2019s plans to rig the economy […]<\/p>\n","protected":false},"author":292,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1050102","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nTrump Wants to Let Industry Insider Paul Atkins Rig the Economy for His Billionaire Backers\u00a0 - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/trump-wants-to-let-industry-insider-paul-atkins-rig-the-economy-for-his-billionaire-backers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-04T20:57:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/08\/image.png\" \/>\n<meta name=\"author\" content=\"Adrianna Tomasello\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Adrianna Tomasello\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/trump-wants-to-let-industry-insider-paul-atkins-rig-the-economy-for-his-billionaire-backers\/\",\"url\":\"https:\/\/democrats.org\/news\/trump-wants-to-let-industry-insider-paul-atkins-rig-the-economy-for-his-billionaire-backers\/\",\"name\":\"Trump Wants to Let Industry Insider Paul Atkins Rig the Economy for His Billionaire Backers\u00a0 - Democrats\",\"isPartOf\":{\"@id\":\"https:\/\/democrats.org\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/democrats.org\/news\/trump-wants-to-let-industry-insider-paul-atkins-rig-the-economy-for-his-billionaire-backers\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/democrats.org\/news\/trump-wants-to-let-industry-insider-paul-atkins-rig-the-economy-for-his-billionaire-backers\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/08\/image.png\",\"datePublished\":\"2024-12-04T20:57:22+00:00\",\"author\":{\"@id\":\"https:\/\/democrats.org\/#\/schema\/person\/00292e8c1694c8322513663ebb5f246f\"},\"breadcrumb\":{\"@id\":\"https:\/\/democrats.org\/news\/trump-wants-to-let-industry-insider-paul-atkins-rig-the-economy-for-his-billionaire-backers\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/democrats.org\/news\/trump-wants-to-let-industry-insider-paul-atkins-rig-the-economy-for-his-billionaire-backers\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/democrats.org\/news\/trump-wants-to-let-industry-insider-paul-atkins-rig-the-economy-for-his-billionaire-backers\/#primaryimage\",\"url\":\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/08\/image.png\",\"contentUrl\":\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/08\/image.png\",\"width\":1500,\"height\":500},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/democrats.org\/news\/trump-wants-to-let-industry-insider-paul-atkins-rig-the-economy-for-his-billionaire-backers\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/democrats.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Trump Wants to Let Industry Insider Paul Atkins Rig the Economy for His Billionaire Backers\u00a0\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/democrats.org\/#website\",\"url\":\"https:\/\/democrats.org\/\",\"name\":\"Democrats\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/democrats.org\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/democrats.org\/#\/schema\/person\/00292e8c1694c8322513663ebb5f246f\",\"name\":\"Adrianna Tomasello\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/democrats.org\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f1caa4627f6a3abd6a1daf936cdbaf4406f86f7fcb6a945d915b685b27e7f9a3?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f1caa4627f6a3abd6a1daf936cdbaf4406f86f7fcb6a945d915b685b27e7f9a3?s=96&d=mm&r=g\",\"caption\":\"Adrianna Tomasello\"},\"url\":\"https:\/\/democrats.org\/news\/author\/tomaselloa\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Trump Wants to Let Industry Insider Paul Atkins Rig the Economy for His Billionaire Backers\u00a0 - Democrats","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/democrats.org\/news\/trump-wants-to-let-industry-insider-paul-atkins-rig-the-economy-for-his-billionaire-backers\/","og_locale":"en_US","og_type":"article","og_site_name":"Democrats","article_published_time":"2024-12-04T20:57:22+00:00","og_image":[{"url":"https:\/\/democrats.org\/wp-content\/uploads\/2024\/08\/image.png","type":"","width":"","height":""}],"author":"Adrianna Tomasello","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Adrianna Tomasello","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/democrats.org\/news\/trump-wants-to-let-industry-insider-paul-atkins-rig-the-economy-for-his-billionaire-backers\/","url":"https:\/\/democrats.org\/news\/trump-wants-to-let-industry-insider-paul-atkins-rig-the-economy-for-his-billionaire-backers\/","name":"Trump Wants to Let Industry Insider Paul Atkins Rig the Economy for His Billionaire Backers\u00a0 - Democrats","isPartOf":{"@id":"https:\/\/democrats.org\/#website"},"primaryImageOfPage":{"@id":"https:\/\/democrats.org\/news\/trump-wants-to-let-industry-insider-paul-atkins-rig-the-economy-for-his-billionaire-backers\/#primaryimage"},"image":{"@id":"https:\/\/democrats.org\/news\/trump-wants-to-let-industry-insider-paul-atkins-rig-the-economy-for-his-billionaire-backers\/#primaryimage"},"thumbnailUrl":"https:\/\/democrats.org\/wp-content\/uploads\/2024\/08\/image.png","datePublished":"2024-12-04T20:57:22+00:00","author":{"@id":"https:\/\/democrats.org\/#\/schema\/person\/00292e8c1694c8322513663ebb5f246f"},"breadcrumb":{"@id":"https:\/\/democrats.org\/news\/trump-wants-to-let-industry-insider-paul-atkins-rig-the-economy-for-his-billionaire-backers\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/democrats.org\/news\/trump-wants-to-let-industry-insider-paul-atkins-rig-the-economy-for-his-billionaire-backers\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/democrats.org\/news\/trump-wants-to-let-industry-insider-paul-atkins-rig-the-economy-for-his-billionaire-backers\/#primaryimage","url":"https:\/\/democrats.org\/wp-content\/uploads\/2024\/08\/image.png","contentUrl":"https:\/\/democrats.org\/wp-content\/uploads\/2024\/08\/image.png","width":1500,"height":500},{"@type":"BreadcrumbList","@id":"https:\/\/democrats.org\/news\/trump-wants-to-let-industry-insider-paul-atkins-rig-the-economy-for-his-billionaire-backers\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/democrats.org\/"},{"@type":"ListItem","position":2,"name":"Trump Wants to Let Industry Insider Paul Atkins Rig the Economy for His Billionaire Backers\u00a0"}]},{"@type":"WebSite","@id":"https:\/\/democrats.org\/#website","url":"https:\/\/democrats.org\/","name":"Democrats","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/democrats.org\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/democrats.org\/#\/schema\/person\/00292e8c1694c8322513663ebb5f246f","name":"Adrianna Tomasello","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/democrats.org\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f1caa4627f6a3abd6a1daf936cdbaf4406f86f7fcb6a945d915b685b27e7f9a3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f1caa4627f6a3abd6a1daf936cdbaf4406f86f7fcb6a945d915b685b27e7f9a3?s=96&d=mm&r=g","caption":"Adrianna Tomasello"},"url":"https:\/\/democrats.org\/news\/author\/tomaselloa\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/democrats.org\/wp-json\/wp\/v2\/posts\/1050102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/democrats.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/democrats.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/democrats.org\/wp-json\/wp\/v2\/users\/292"}],"replies":[{"embeddable":true,"href":"https:\/\/democrats.org\/wp-json\/wp\/v2\/comments?post=1050102"}],"version-history":[{"count":1,"href":"https:\/\/democrats.org\/wp-json\/wp\/v2\/posts\/1050102\/revisions"}],"predecessor-version":[{"id":1050103,"href":"https:\/\/democrats.org\/wp-json\/wp\/v2\/posts\/1050102\/revisions\/1050103"}],"wp:attachment":[{"href":"https:\/\/democrats.org\/wp-json\/wp\/v2\/media?parent=1050102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/democrats.org\/wp-json\/wp\/v2\/categories?post=1050102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/democrats.org\/wp-json\/wp\/v2\/tags?post=1050102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}