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Vocabulary flashcards covering key institutions, legal statutes, lobbying concepts, and terms from Chapter 13 of The Wolves of K Street by Brody Mullins.
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Federal Trade Commission (FTC)
An independent federal regulatory agency established in 1914 with two core missions: preventing anticompetitive business practices and protecting consumers from unfair or deceptive practices. It is governed by five presidentially appointed commissioners, no more than three from the same political party.
New Deal
The FDR-era program of regulatory and social-welfare legislation (1933–1938) that created many modern federal regulatory agencies and charged them with policing corporate power on behalf of consumers and workers.
Independent regulatory commission
A federal agency, like the FTC, headed by a multi-member, bipartisan board rather than a single presidentially removable director, where commissioners serve fixed terms to insulate the agency from immediate political pressure.
Antitrust law
A body of law designed to promote market competition and prevent monopolies, anchored by federal statutes including the Sherman Antitrust Act (1890), the Clayton Act (1914), and the FTC Act (1914).
Man Controlling Trade
Matching limestone sculptures flanking the FTC building that depict shirtless, muscle-bound men restraining angry workhorses, symbolizing the agency's mission to shield consumers from corporate abuses.
K Street
A major thoroughfare in Washington, D.C., that serves as shorthand for the modern lobbying industry and the world of paid political influence.
Inside lobbying
A lobbying strategy that works directly through insider channels—such as meeting with legislators and staff, providing technical information, and drafting legislative language—to influence decision makers privately.
Outside lobbying
A lobbying strategy that mobilizes indirect pressure on decision makers through tactics such as grassroots campaigns, media and advertising strategies, and coalition building.
Legislative rider
A provision attached to a bill—often a must-pass bill like an appropriations or defense authorization measure—that is not necessarily related to the main subject of the bill.
Department of Justice (DOJ)
The federal executive department responsible for enforcing federal law, whose Antitrust Division shares jurisdiction over competition policy with the FTC.
Sherman Antitrust Act (1890)
The first federal law prohibiting monopolies and other restraints of trade, serving as a core statutory basis for federal antitrust prosecutions.
The Beltway
Interstate 495, the highway encircling Washington, D.C., used as shorthand for the world of federal politics, government, and lobbying centered in the capital.
Deposition
Pretrial sworn testimony given outside the courtroom, usually before a court reporter, in which opposing lawyers question a witness or party under oath.
Political Action Committee (PAC)
An organization that raises and spends money to elect or defeat political candidates, acting as a primary vehicle through which organized interests channel money into electoral politics.
Think tank
A nonprofit research organization that produces analysis and advocacy on public-policy issues, which can sometimes serve as a vehicle for corporate-funded advocacy.
Garbology
A practice of searching through private trash bins to collect intelligence, such as the effort by an Oracle private investigator outside the Independent Institute headquarters.
Consent decree
A court-approved settlement in which a defendant agrees to specific obligations without admitting wrongdoing, resolving litigation while avoiding a full trial or appeal.
Net neutrality
The principle that Internet service providers (ISPs) must treat all Internet traffic equally, without discriminating against or charging differently based on the source, destination, or content.
Federal Communications Commission (FCC)
An independent federal regulatory agency, created in 1934, that oversees interstate and international communications by radio, television, wire, satellite, and cable, including broadband policy.
Congressional committees
Specialized divisions of Congress (such as House Energy and Commerce or Senate Commerce) that hold hearings, draft legislation, and oversee executive agencies within their subject area.
Revolving door
The recurring movement of individuals between government positions (such as elected office, staff roles, or executive-branch jobs) and private-sector lobbying or industry jobs.
NetPAC
Google's political action committee, established in 2006, which allowed the company to bankroll campaign contributions to members of Congress.