Robert Reich (RBReich): In Trump's capitalism, corporate greed meets shoddy regulation—with disastrous results | Opinion
Why didn’t Boeing do it right? Why isn’t Facebook protecting user passwords? Why is Phillip Morris allowed to promote vaping? Why hasn’t Wells Fargo reformed itself? Why hasn’t Monsanto recalled its Roundup weed killer?These are just a few of the examples in the news these days of corporate harms inflicted on innocent people.
Nonetheless, Trump’s FAA certified the plane in March 2017. And after two subsequent deadly crashes, the US was slower to ground them than other countries. The Federal Trade Commission has the power to force Facebook to better guard users’ privacy. But so far Trump’s FTC has done nothing – not even to enforce a 2011 agreement in which Facebook promised to do just that.
Wells Fargo has publicly apologized for having deceived customers with fake bank accounts, unwarranted fees and unwanted products. Its top executives say they have eliminated the aggressive sales targets that were responsible for the fraud. What has Trump’s Environmental Protection Agency done about glyphosate? In December 2017 its office of pesticide programs concluded that glyphosate wasn’t likely to cause cancer – although eight of the 15 experts on whom the agency relied expressed significant concerns about that conclusion, and three more expressed concerns about the data.
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