Bloomberg Law Weekend Law: Trump Power Grab, SCOTUS Greatest Fear and J&J
Feb 22, 2025
Carrie Colonisi, a law professor and regulatory expert, discusses the implications of Trump's executive orders on regulatory independence. Greg Storr, a Supreme Court reporter, sheds light on the tensions between presidential power and judicial authority throughout history. Stephen Church, covering the Johnson & Johnson bankruptcy case, delves into the company's legal strategies over baby powder claims and the complexities of their $9 billion settlement trust. Together, they explore the intersections of law, power, and corporate accountability.
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Presidential Power Grab
- President Trump's executive order aims to give him direct control over independent agencies like the SEC and FTC.
- This raises concerns about potential legal challenges and the balance of power.
Increased Oversight
- While the president appoints agency heads, the executive order increases White House oversight of these agencies.
- This includes scrutiny of rulemaking, budgets, and legal interpretations.
Federal Reserve Oversight
- The executive order subjects the Federal Reserve's regulatory functions to White House oversight.
- However, it exempts the Fed's monetary policy decisions, preserving its independence in that area.