Corrupt to the End: Biden Admin Sues Elon 6 Days Before Trump Throws Them All Out on Their Ears

President Joe Biden’s administration seems determined to ensure its final week leaves a lasting headache for everyone to remember.

The latest move comes from Biden’s Securities and Exchange Commission (SEC), led by outgoing chair Gary Gensler, which has filed a lawsuit against X owner Elon Musk.

According to a report by The New York Times on Tuesday, the SEC’s filing accuses Musk of violating securities laws by failing to properly notify regulators when he purchased a significant stake in X — formerly known as Twitter.

The filing states:
“Musk failed to timely file with the SEC a beneficial ownership report disclosing his acquisition of more than five percent of the outstanding shares of Twitter’s common stock in March 2022, in violation of the federal securities laws.

“As a result, Musk was able to continue purchasing shares at artificially low prices, allowing him to underpay by at least $150 million for shares he purchased after his beneficial ownership report was due.”

The Times emphasized that these filings are critical for investors who rely on them to track market trends and performance.

Musk, known for his irreverent style, was not caught off guard by this move. He even shared a letter from his lawyer rejecting an SEC settlement on X, poking fun at Gensler by asking, “Oh Gary, how could you do this to me?”

This marks the third SEC filing against Musk in December alone.

Alex Spiro, Musk’s lawyer, was quick to dismiss the lawsuit, stating, “Today’s action is an admission by the S.E.C. that they cannot bring an actual case, because Mr. Musk has done nothing wrong and everyone sees this sham for what it is.”

As Inauguration Day approaches, President-elect Donald Trump has already announced plans to replace Gensler with former SEC commissioner Paul Atkins. While the future remains uncertain, Musk’s role as co-chairperson of the Department of Government Efficiency makes it highly unlikely the lawsuit will gain traction — reducing it to little more than a symbolic gesture.

Columbia Law Professor Daniel Richman was quoted by the Times saying this lawsuit aligns with a trend of last-minute actions by Biden appointees who are “on their way out.”

With less than a week until Inauguration Day, the Biden administration appears set on creating as much disruption as possible, ensuring a rocky transition.

The SEC’s actions seem emblematic of Biden’s presidency, which many Americans feel has been marked by international conflict, economic struggles, and widespread discontent.

Rather than bolstering his legacy, Biden’s final days may only solidify public frustration.

No reasonable observer would view the SEC’s lawsuit as a genuine effort to hold Musk accountable. Do Gensler or Biden truly believe that Atkins will continue this pursuit against Musk, one of Trump’s most prominent allies?

Musk, after all, is practically living at Mar-a-Lago.

Ultimately, this lawsuit feels like a defiant gesture by Biden and Gensler — a parting shot to cause disruption rather than a serious legal move. It’s a fittingly contentious end to a presidency many would prefer to leave behind.