There’s a new sheriff – er, chairwoman – in town over at the FTC, and she’s planning to shake things up. During the Commission’s first open meeting in more than 20 years, Chairwoman Khan announced a new era of streamlined, widespread rulemaking, and increased public participation, transparency, and fairness. However, as every single vote broke along party lines, with the Democratic majority steamrolling Republican requests for increased dialogue, public comment periods, and expert input, the open meetings may be little more than political theater intended to cover a massive change in how the FTC operates. In fact, public comments were relegated to the end of the meeting, after votes were already cast, and the commissioners were given only five days, the bare minimum time, to consider the new rules and regulations. In the words of Commissioner Phillips, the Democratic majority wants to make regulating “easier, not better.” And after yesterday’s votes, it seems likely that the “new” FTC will look a lot like the FTC of the 1970s, which was widely criticized as a body of five unelected officials with broad, self-granted and oft-exercised power to regulate the economy badly. According to Commissioner Wilson, “if we don’t acknowledge the mistakes of the past, we are doomed to repeat them.”
Below are some highlights from the meeting.