Elon Musk wants to 'delete' federal financial watchdog as 'DOGE' begins work

[milestogo]

Source: Washington Post

Elon Musk called Wednesday for the elimination of the Consumer Financial Protection Bureau, one of the nation’s most powerful watchdog agencies, signaling it could be scrapped as part of a planned review of government spending ordered by President-elect Donald Trump.

“Delete CFPB,” Musk said in an early-morning post on X, the social media site he owns, categorizing the bureau as an example of “too many duplicative regulatory agencies” in Washington.

Formed in the wake of the 2008 banking crisis, the CFPB has a broad mandate to protect Americans from unfair, deceptive or predatory financial practices. Its current director — Rohit Chopra, a Democrat — recently issued rules meant to shield people from medical debt, make it easier for them to switch banks and limit the fees they face from overdrawing their checking accounts or falling behind on their credit card bills.

Musk did not elaborate on his objections to the CFPB, and he did not immediately respond to a request for comment. But his opposition is significant, as he works to set up a new entity operating outside the federal government called the “Department of Government Efficiency,” that has already encouraged Trump to sidestep Congress and push the limits of executive power once he is in office again.

Read more: https://www.washingtonpost.com/business/2024/11/27/elon-musk-delete-cfpb-doge/

[bronxiteforever]

1. The Muskovites will rob the commonwealth

so as to fill their bottomless troughs.

[Grins]

2. "...too many duplicative regulatory agencies..."

What federal agency is "duplicative" of the Consumer Financial Protection Bureau?

Is that his ass talking because his mouth knows better?

[Autumn]

3. Who is this fucker again? I call for the federal government to delete his government contracts.

[OKIsItJustMe]

8. Elon Musk: Everything You Didn't Know About His Sh*tty Past

[Autumn]

9. Not interested in learing about him. I've seen enough. Who is he in the US governement other

than a subsidy w**re?

[Autumn]

4. If his entity is operating outside the federal government who pays this fucking asshole

and the rest of his pond scum in Doge?

[sinkingfeeling]

5. Surprise, surprise.

[OKIsItJustMe]

7. You took the words right out of my eh... fingers

I’m sure he’s doing it to benefit the country.

[Deminpenn]

6. Anecdotal, but interesting ad

I don't pay attention to ads that pop up when browsing, but the other day when browsing/reading, an ad showed up from a webiste called crypto(dot)com. It advertised bitcoin and DOGE, although I don't know what about DOGE because I didn't click on the ad. I wondered why would DOGE be linked up with a crypto website, but there must be some kind relationship related to Musk.

[Blues Heron]

11. DOGE is also the name of musks crypto coin offering Dog-e-coin; the symbol is a dogs face

[Deminpenn]

15. Thanks. Interesting coincidence

Nt

[Irish_Dem]

10. End all regulation and watchdog agencies.

Billionaires will have total free rein.

[Deminpenn]

16. Until there's a major disaster

like the train derailment in East Palestine. Believe me, the vast majority of those residents are and were Trump cultists. But they sure screamed and cried for government help after the accident. No resident was suggesting they get over it and pull themselves up by their bootstraps. They wanted a law, which has been introduced in Congress by Deluxio, to improve rail safety.

[Irish_Dem]

17. MAGAs are not able to think ahead on any level.

They appear to live in the moment and invent their own version of reality.

[Deminpenn]

18. Cannot disagree

And when something bad happens to them, they are the first in line begging to be bailed out by everyone else, local, state and federal government included.

[maxsolomon]

12. CFPB has been on their target list since it was created.

It's Elizabeth Warren's baby; that's reason enough for Repukes to hate it.

It's probably toast, frankly. Along with the ACA.

[highplainsdem]

13. Musk wants X to become an "everything app" including banking, like China's WeChat. He's been

talking about this for a couple of years.

He wants regulatory agencies out of his way for everything he's planned, and so far Trump seems happy to let Musk act as a wrecking ball.

[riversedge]

14. Musk's government overhaul plan: 'Delete' bureau that returns billions to Americans

Link to tweet

Musk’s government overhaul plan: 'Delete' bureau that returns billions to Americans
Sarah K. Burris
https://www.rawstory.com/elizabeth-warren-vs-elon-musk/


.............Killing a government agency created by an act of Congress is more difficult than Musk might think. Doing so would also require an act of Congress. The one person who helped build the agency, Elizabeth Warren (D-MA), holds a seat in the U.S. Senate and, in particular, on the Committee on Banking, Housing, and Urban Affairs, as well as the Committee on Finance.

The mere threat of a filibuster stops legislation from moving through the Senate.



November 27, 2024 4:21PM ET