Donors Call on Kamala Harris to Fire Fed and SEC Chairs

Among those who have drawn the donors’ ire is Lina Khan, who heads the Federal Trade Commission. According to sources published by Bloomberg, several major Democratic donors have asked Harris to remove Khan from her position if she wins the election.

Normally, appointments to governing bodies like the FTC and SEC are not directly dependent on political changes. However, the election of a new president could lead to changes in these structures.

Criticism of Khan has intensified this summer. One of her critics, billionaire Barry Diller, chairman of IAC and a member of the board of directors of MGM Resorts, expressed dissatisfaction with her actions in an interview with CNBC, saying that Khan opposes any measures that could help business.

Another critic of Khan, LinkedIn co-founder Reid Hoffman, also spoke out against her policies, accusing her of "declaring war on American business."

Khan's criticism stems from the case of MGM Resorts, which was the victim of a cyberattack last September. Following the incident, the FTC launched an investigation, which led to MGM filing a lawsuit against the commission. As part of the lawsuit, MGM asked Khan to recuse herself from the case due to a possible conflict of interest, since she and her colleagues visited one of the company's properties at the time of the attack.

The conflict between MGM and the FTC has not yet been resolved, and the parties continue to fight.

In addition to Lina Khan, another target of donor discontent is Securities and Exchange Commission Chairman Gary Gensler. As Bloomberg notes, Gensler has been criticized by both Democrats and Republicans.

There is a possibility that Gensler could be nominated for the post of Treasury Secretary, but this would depend on the outcome of the election if Harris wins. However, many Democratic donors would prefer Harris to remove Gensler from his current position if she becomes president.

In August, UNITE HERE expressed support for Harris, despite Donald Trump’s promise to reduce taxes on tips, which he made at a rally in Nevada in July.