Politics

Khan has been at the forefront of the Biden administration's push to use U.S. antitrust law to boost competition and address high prices and low wages. Khan, who oversaw the FTC's ban on noncompete agreements, has drawn the ire of corporate groups, but won fans including Donald Trump's running mate, JD Vance, for her skepticism towards big business.

Now, big money Democratic donors this week publicly said Khan should not be part of a potential Harris administration.

Prominent Democratic senators have spoken out in support of Khan, including senators Bernie Sanders and Elizabeth Warren. Warren said on Friday that Khan should continue her work, calling it "a big reason the economy is growing strong as we saw with yesterday's GDP data."

-- or as Matt Stoller puts it in his 'BIG' (regarding one of the two, Hoffman):

Ok, so it’s pretty stunning for an oligarch like Hoffman, with a net worth of a couple billion dollars, to publicly make such a demand. So why is he doing it? One reason is that there’s a lot of money involved. As the Lever reported, Hoffman is on the board of Microsoft, which is right now being sued and investigated by the FTC. It’s a pretty good gig, if you get to fire the law enforcer investigating your misdeeds.

and thinks it likely that:

he’s going to supply the financing for Harris’ campaign if she does what she’s told.

In other words, democracy really is on the ballot, but not in the way people imagine. An oligarch has explicitly and openly taken over policy because it conflicts with his small faction’s control of American society. And so far, most political leaders are silent.

The only upside here is that Hoffman is being very public, aggressive, and explicit about his demands. And he’s going to corner Harris until she kisses the ring, or refuses to do so. From his perspective, he’s not donating $10 million, he’s making a purchase. Or so he thinks. Now it’s up to Harris to make the choice.