Biden’s plan to target business as a way to win votes

Part of the way the Democrats plan to keep the House and the Senate in 2022 involves deeply politicizing two obscure federal agencies to generate big headlines by targeting big business.

President Biden has moved to weaponize the Public Company Accounting Oversight Board and the Consumer Financial Protection Bureau. The PCAOB was created in the aftermath of the 2001 Enron scandal to crack down on companies that fudge their losses and deceive investors. The financial protection bureau emerged from the 2008 financial crisis to better protect consumers from unscrupulous bank practices.