- cross-posted to:
- [email protected]
- cross-posted to:
- [email protected]
Summary
Elon Musk called to “delete” the Consumer Financial Protection Bureau (CFPB), which has returned nearly $20 billion to Americans since its creation after the 2008 financial crisis.
Critics, including Public Citizen, argue Musk’s stance is driven by conflicts of interest, as the CFPB recently finalized a rule to supervise large tech companies offering digital payment services—a business Musk appears poised to enter.
“In short, Musk is calling for elimination of the consumer protection regulator over a business line he seems poised to enter… This is systemic corruption at a grand and intolerable scale,” one advocate said.
The CFPB has long faced opposition from corporations and conservatives but is praised for combating financial abuses and protecting consumers.
I very much doubt that tariffs and pissing off basically everyone outside if the US will help a goal of a global free market.
Well, they have to balance their commitment to global free markets with their desire to destroy countries run by Communists, or any country that isn’t sufficiently Western and liberal in their political or economic philosophies. China is especially problematic, because they’ve accounted for so much of the global growth that’s occurred over the last several decades, but they are ultimately run by Communists, and they are certainly not liberal or Western enough.