Ask yourself: what's the difference between the SEC saying, "We declare that Facebook broke a securities law and shall now be fined $1M" and Trump saying, "I decree that the SEC declare that Facebook broke a securities law and shall now be fined $1M"? Either of those could be true or false. Either could be politically motivated. Either could hold up in court or be struck down. So what's the difference?

One[0] answer is, the former was vetted by someone knowledgeable and (at least allegedly) non-partisan who had the power to stop it if it was wrong. That's it. If the president really wants to fine Facebook he can - he can replace the SEC Director with the "My Pillow" guy if he wants, who can replace SEC employees with randomly chosen members MAGA types until the desired fine is eventually issued - but at least going through the bureaucracy confers the possibility of impartial and informed oversight. Vesting the power with the president directly doesn't do that; presidents are biased and partisan by design.

0: Another answer is the SEC has been granted the power to do that by Congress and the president has not; but I get that people on the "unitary executive" train disregard this, and