Democrats Try To Pin ‘Recession’ On Trump?

Washington, D.C. – President Trump’s nominee for Chairman of the Securities and Exchange Commission (SEC), seasoned financial expert Paul Atkins, faced sharp pushback from Senate Democrats during his confirmation hearing Thursday. But despite their attacks, Atkins signaled a strong, pro-growth agenda focused on market freedom, digital asset innovation, and cutting bloated regulation—a vision that aligns with the priorities of the Trump administration and millions of conservative Americans.

Democrat Senators Target Atkins Over 2008 Crisis

Democrats, led by Sen. Elizabeth Warren (D-MA), attempted to discredit Atkins by pointing to his tenure at the SEC leading up to the 2008 financial crisis.

“You showed staggeringly bad judgment,” Warren claimed, blaming Atkins for not preventing the collapse.

But many conservative analysts argue that it was government overreach, misguided lending mandates, and Democrat housing policies that triggered the meltdown—not a lack of regulatory oversight.

Project 2025 and Conservative Financial Reform

Much of the Democrat criticism centered around Atkins’ contribution to Project 2025, a policy blueprint created by The Heritage Foundation that outlines how a second Trump administration could reform bloated federal agencies, including the SEC.

Democrats tried to paint the project as “radical,” but conservatives see it as common-sense reform aimed at restoring transparency, fiscal responsibility, and market-driven solutions.

Atkins clarified that his involvement was limited to a few calls and one chapter on regulatory reform.

Debate Over PCAOB and Government Redundancy

Sen. Chris Van Hollen (D-MD) grilled Atkins about Project 2025’s proposal to eliminate the Public Company Accounting Oversight Board (PCAOB)—a little-known agency many believe is redundant and inefficient.

“The function is vital,” Atkins explained. “Whether it’s PCAOB or under the SEC, it must be done right.”

His remarks signal a commitment to financial accountability while challenging the status quo of unnecessary bureaucracy.

Reining in the Costly Consolidated Audit Trail

Atkins was also questioned about the Consolidated Audit Trail (CAT) program, a massive federal database tracking every U.S. trade. Critics say it’s an expensive, invasive government project with ballooning costs and unclear benefits.

“The mission has veered off,” Atkins said, pledging a full review of CAT’s effectiveness and costs.

This could mean major taxpayer savings and more efficiency on Wall Street.

A Pro-Crypto Vision That Champions American Innovation

One of Atkins’ most exciting policy positions? His strong support for cryptocurrency and blockchain innovation—in stark contrast to the overregulation under Biden-appointed SEC Chair Gary Gensler.

“We need a principled, coherent framework for digital assets,” Atkins told the committee.

Senate Banking Chair Tim Scott (R-SC) praised the move, warning that if America doesn’t act now, we risk falling behind global competitors in the fast-growing digital economy.

Atkins previously held leadership roles with the Digital Chamber’s Token Alliance and tokenization platform Securitize, bringing firsthand knowledge to the table.

Ethics, Experience, and Financial Independence

As part of his ethics agreement, Atkins is stepping down as CEO of Patomak Global Partners, a respected financial consultancy, and will divest his interest in the firm.

According to financial disclosures, he and his wife have a net worth of $327 million, including a $25 million stake in Patomak—making him one of the most financially independent SEC nominees in recent history. That independence could mean less influence from lobbyists and special interests.

A Clear Break from Biden’s SEC Chaos

In a lighter moment, Sen. Bernie Moreno (R-OH) joked that Atkins didn’t need to do much to outperform his predecessor:

“You just have to breathe and not be a raging lunatic, and you’re already better than the last guy.”

It’s clear that Paul Atkins represents a return to calm, principled, conservative leadership—exactly what the SEC needs in this critical moment.

Conclusion: Trump’s Pick Brings Common Sense to the SEC

With the economy at a crossroads and American innovation under threat from excessive regulation, President Trump’s decision to nominate Paul Atkins sends a strong message: It’s time to put expertise and market freedom ahead of government micromanagement.

If confirmed, Atkins is poised to lead the SEC with integrity, purpose, and a deep respect for American free enterprise.