Elon Musk wants to 'delete' a federal agency designed to prevent another financial crisis and protect people from scams

[Yo_Mama_Been_Loggin]

Elon Musk has said he wants to eliminate the Consumer Financial Protection Bureau.
The CFPB was created after the 2008 crisis to protect consumers from financial abuses.
It has recouped billions for consumers but has long faced political and legal challenges.

In his efforts to cut government costs, Elon Musk has thrown his support behind shutting down a federal office created in the wake of the Great Recession to regulate financial services used by Americans.

"Delete CFPB," Musk wrote on X early Wednesday of the Consumer Financial Protection Bureau. "There are too many duplicative regulatory agencies."

Musk, along with Vivek Ramaswamy, has been tasked with heading up the Trump-created Department of Government Efficiency, or DOGE, and finding ways to reduce spending and streamline bureaucracy within the federal government. The unofficial advisors have floated "deleting" entire agencies, laying off staff, and enforcing return-to-office mandates.

https://www.msn.com/en-us/money/markets/elon-musk-wants-to-delete-a-federal-agency-designed-to-prevent-another-financial-crisis-and-protect-people-from-scams/ar-AA1uSA8c

Of course the sleazeball does.

[GreenWave]

1. Dern foreigners running our country. Who warned us about that"

[peregrinus]

2. Main stream media can get bent

For normalizing what ever the hell Eloon is doing with this fake commission

[LoisB]

3. Who is the President-elect? Putin or Musk? It sure doesn't appear to be 45.

[elleng]

4. 'They've' been after the Consumer Financial Protection Bureau.ever since it was established;

have failed to do so, so far.

[B.See]

10. Indeed they have. Not so sure of them failing this time around though.

[Srkdqltr]

5. Of course they do.

[Mme. Defarge]

6. What about the FDIC?

[elleng]

7. Too old.

Since its creation in 1933, the FDIC has been an essential part of the American financial system. In the 1920s and early 1930s, a rise in bank failures created a national crisis, wiping out many Americans’ savings. Since FDIC insurance began in 1934, no depositor has lost a single penny of insured funds due to bank failure.

https://www.fdic.gov/about

[UTUSN]

8. This SEDER vid exposes ROGAN sucking up misinformation on deleting CFPB, calling it WARREN's personal outtfit

And by "personal" they don't mean that it was her idea, they literally mean it in the Drumpf sense of using government entities and employees as his property and dictating their operation.

?si=1ebFSPxgUbn-nZCB

[allegorical oracle]

9. Corporations and fat cats fear consumer advocacy about as

much as vampires do garlic.

[B.See]

11. I've been writing of the CONTINUOUS reich-wing assault upon Consumer's Rights since,

well... here and long before I came here. A past post:

https://democraticunderground.com/100218852322

And the reason why democracy arsonists like Rogan calls the CFPB 'Warren's outfit' because consumers across America can thank our LUCKY STARS for the agency that IS the brainchild of one, Elizabeth Warren.

https://en.wikipedia.org/wiki/Consumer_Financial_Protection_Bureau

But yes, the Republican (MAGA) Party, the so-called 'party of the common man' (IF one bought into that particular brand of bullshit, that is) has been working to hobble, undermine, and destroy the agency that has served MILLIONS of consumers, from DAY ONE,

including Donald Trump, who appointed one of his flunkies, Mick Mulvaney, to do EXACTLY that. And that's not all:

On May 21, 2018... Donald Trump signed into law Congressional legislation repealing the enforcement of automobiles lending rules. On May 24, 2018, Trump signed into law the Economic Growth, Regulatory Relief and Consumer Protection Act, exempting dozens of banks from the CFPB's regulations.

(Note the traditionally twisted mentality in yet again naming something for the exact opposite of what it really does, a trait so common among that sort. 'Consumer Protection Act, indeed.

But then again, he IS a man 'of the people'.... is he NOT?)

And Trump and Musk aren't the only MAGA acolytes trying to FK consumers while their willingly IGNORANT constituency think these clowns are "one of THEM."

For instance, Black face for white supremacy Tim (still waiting curbside for that JOB bus to come around) Scott, who argued on behalf of JUNK bank fees:

Tim Scott Defends ‘Junk Fees,’ Says He’s ‘Not Sure’ If Consumers Are Against Hidden Surcharges - Newsone

Republicans Are Determined to Keep Credit Card Late Fees High - Rolling Stone For all their complaining about Americans' financial struggles, Republicans seem keen to brand themselves as the pro-junk fee party

Bottom line, Republican couldn't give a flying fk about consumers or the 'common man.' NEVER did.

But try telling that to their bamboozled DEVOTEES.