Bloomberg Law
Trump Grabs Agency Power & J&J Bankruptcy Trial
Feb 21, 2025
Cary Coglianese, a law professor and regulatory expert from the University of Pennsylvania, discusses the implications of Trump's recent executive order empowering the president over independent agencies like the SEC. Steven Church, a Bloomberg bankruptcy reporter, dives into Johnson & Johnson's attempt to navigate thousands of lawsuits through bankruptcy. The conversation reveals concerns about agency autonomy and the complexities facing victims of corporate decisions, especially as J&J seeks a $9 billion settlement amidst ongoing legal battles.
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Quick takeaways
- The executive order signed by President Trump centralizes power over independent agencies, challenging their traditional autonomy and expertise.
- Johnson & Johnson's bankruptcy trial seeks to resolve thousands of legal claims through a settlement, highlighting the complexities of corporate litigation.
Deep dives
Trump's Executive Orders and Centralization of Power
The president has signed a substantial number of executive orders, significantly more than his predecessors during their respective early terms. These executive orders primarily serve as directives rather than definitive indicators of success, which has raised concerns about their effectiveness. A notable executive order aims to centralize powers from independent agencies into the White House, allowing the president to directly influence the rulemaking and policies of agencies like the SEC and FTC. This move appears to diminish the independence traditionally afforded to these agencies by Congress, potentially leading to increased political influence over regulatory decisions.
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