Musk targets CFPB via twitter post (natch)

[Tommy Tainant]

Elon Musk calls to ‘delete’ US consumer finance watchdog

Tech billionaire tapped by Trump posts on X about wanting to eliminate Consumer Financial Protection Bureau (CFPB)

www.theguardian.com

Musk’s post came in response to a recent podcast clip from the venture capitalist Marc Andreessen, a significant Trump donor, who said the agency’s primary purpose is to “terrorize financial institutions”.

But it was soon reported that Andreessen’s venture capital firm, Andreessen Horwitz, was among other investors who had backed LendUp, an online consumer payday lender, that was shut down by the CFPB in 2018.


The Bureau protects consumers from financial scams. I can see why trumps acolyres want to get rid of troublesome regulations. Especially when they stop their own fiddles.

America seems well set for another financial meltdown. This one turbo charged with crypto.

I did think that they might be more subtle about it all but it appears not.

Maybe it will all turn out for the best ? It certainly will for the billionaire class elites.

 

[DGS49]

Keep in mind folks, that the Constitutional "power" to create this agency is found in the following words:

"Congress shall have power...to regulate commerce...among the several States..."

This agency, along with everyone employed there, and everything it does, is unconstitutional.

It is a sad failing in our Constitutional framework that when Congress does some shit like this, there is no way of just marching over to the Supreme Court and asking them whether what Congress is doing is consistent with its Constitutional powers. Can't do it.

Instead, "we" must wait for someone with "legal standing" to be harmed by it, have them sue the Government, lose in the trial court, and the go through years of appeals, at which point the Court will NOT look at the entire law, but rather the few words in that law that have been challenged and weigh in on it. This is why we have the Department of Education, the EPA, HHS, and scores of other departments and agencies that are not authorized by the Constitution. And Obamacare, if you really want to know.

Too many Americans (and foreigners) believe that if they think something is a good idea (e.g., socialized medicine), then Congress has the power to do it. It is a massive failure of the Public School System to teach simple Civics.

 

[rightwinger]

who said the agency’s primary purpose is to “terrorize financial institutions”.

He is right….standing up for consumer rights terrorizes financial institutions

 

[JGalt]

Elon Musk calls to ‘delete’ US consumer finance watchdog

Tech billionaire tapped by Trump posts on X about wanting to eliminate Consumer Financial Protection Bureau (CFPB)

www.theguardian.com

Musk’s post came in response to a recent podcast clip from the venture capitalist Marc Andreessen, a significant Trump donor, who said the agency’s primary purpose is to “terrorize financial institutions”.

But it was soon reported that Andreessen’s venture capital firm, Andreessen Horwitz, was among other investors who had backed LendUp, an online consumer payday lender, that was shut down by the CFPB in 2018.


The Bureau protects consumers from financial scams. I can see why trumps acolyres want to get rid of troublesome regulations. Especially when they stop their own fiddles.

America seems well set for another financial meltdown. This one turbo charged with crypto.

I did think that they might be more subtle about it all but it appears not.

Maybe it will all turn out for the best ? It certainly will for the billionaire class elites.

What does it matter to you, colonialist limey? Stop meddling in our American affairs and mind your own damned business. Or else we'll throw your king's tea in the Boston harbor.

 

[Tommy Tainant]

What does it matter to you, colonialist limey? Stop meddling in our American affairs and mind your own damned business.

Your last financial crash put my mortgage up. It rippled around the world.
This one will do the same.

 

[Polishprince]

The CFPB has been basically useless and a waste of money since it was established during the Obama Regime.

A good place to keep bureaucrats employed.

Mr. Musk and Mr. Ramaswamy are charged with the duty of identifying and eliminating government waste. Unless you are a racist and have a problem with Indians and African Americans, you would recognize that.

 

[Tommy Tainant]

He is right….standing up for consumer rights terrorizes financial institutions

Its great for the elites.

 

[Tommy Tainant]

The CFPB has been basically useless and a waste of money since it was established during the Obama Regime.

A good place to keep bureaucrats employed.

Mr. Musk and Mr. Ramaswamy are charged with the duty of identifying and eliminating government waste. Unless you are a racist and have a problem with Indians and African Americans, you would recognize that.

Its about filling their own pockets.

 

[TimFitz]

Elon Musk calls to ‘delete’ US consumer finance watchdog

Tech billionaire tapped by Trump posts on X about wanting to eliminate Consumer Financial Protection Bureau (CFPB)

www.theguardian.com

Musk’s post came in response to a recent podcast clip from the venture capitalist Marc Andreessen, a significant Trump donor, who said the agency’s primary purpose is to “terrorize financial institutions”.

But it was soon reported that Andreessen’s venture capital firm, Andreessen Horwitz, was among other investors who had backed LendUp, an online consumer payday lender, that was shut down by the CFPB in 2018.


The Bureau protects consumers from financial scams. I can see why trumps acolyres want to get rid of troublesome regulations. Especially when they stop their own fiddles.

America seems well set for another financial meltdown. This one turbo charged with crypto.

I did think that they might be more subtle about it all but it appears not.

Maybe it will all turn out for the best ? It certainly will for the billionaire class elites.

The Republicans have been trying to kill it since it was just and idea in Elizebeth Warren’s head.

They like payday loans, college tuition grifts, and the like.

They like Medicare Advantage scams too!

 

[TimFitz]

Its great for the elites.

Is that so?

Then explain why the financial elites want to kill it.

Or, do you have any idea what you’re talking about?

 

[JGalt]

Your last financial crash put my mortgage up. It rippled around the world.
This one will do the same.

If you're referring the the Bush-era recession, you liberals caused that, along with the progressives, Democrats, and sympathetic RINO Republicans in Congress.

"The recession began in January 2008 in the financial sector as major banks in the U.S. and Europe got into serious trouble after a decade and a half of investing in bad mortgages. The crisis spread globally due to the fact that many banks, businesses, and pension funds worldwide had invested in these securitized debts. Trouble spread to the automobile industry, where General Motors and Chrysler went bankrupt in spring 2009, due to a decrease in US consumer demand. They remained solvent by a bailout involving a taxpayer buy out and bankruptcy reorganization was authorized by President Barack Obama and Congressional Democrats. Existing shareholders received 22 cents on the dollar for their investment, and the unions made no concessions.

Leftists have incorrectly attributed the cause of the recession to Bush Administration policies, calling it the "Bush Recession." However, many people recognize the loosening of credit guidelines in the Clinton era and government guarantees for subprime lending encouraged banks to make foolish loans which they considered had minimal risk to themselves. This, together with the threat of civil rights lawsuits under the Community Reinvestment Act were the mortgage lenders primary motivations."

Recession of 2008 - Conservapedia

 

[crossbody]

Trump needs to give Elon his walking papers like he did Bannon.

 

[WEATHER53]

Thinkers don’t need these hand holding protections. They are designed for dummies who don’t know what they are doing and need mommy to keep them out of trouble

 

[rightwinger]

The Republicans have been trying to kill it since it was just and idea in Elizebeth Warren’s head.

They like payday loans, college tuition grifts, and the like.

They like Medicare Advantage scams too!

TRUMP University

 

[rightwinger]

Republicans support………There is a sucker born every minute

They oppose any effort to protect them

 

[Tommy Tainant]

Thinkers don’t need these hand holding protections. They are designed for dummies who don’t know what they are doing and need mommy to keep them out of trouble

Yes. Self regulation always works best. You van always rely on honest men.

 

[d0gbreath]

DOGE doesn't actually have the power to shut down any government agency.

 

[JGalt]

Republicans support………There is a sucker born every minute

They oppose any effort to protect them

I'm not the one whose primary election vote was yanked away from me and someone I didn't even vote for shoved down my throat. And unlike 14 million of you poor saps, my primary election vote was actually counted.

That sure was some industrial strength Jim Crow shit your party pulled on you chumps.

 

[JGalt]

DOGE doesn't actually have the power to shut down any government agency.

"DOGE will not have official government powers. As an autonomous entity, DOGE itself does not have authorities to issue rules, rescind regulations, terminate federal employees or enforce federal laws. But, behind the scenes, DOGE is expected to wield significant influence.

According to its leaders, DOGE will identify issues and make recommendations to the White House, agency leaders and Congress for action. In particular, DOGE leaders say they will work closely with the existing Office of Management and Budget, the President’s office charged with budget development, oversight of agency performance and financial management, and coordination of federal regulations. It is expected that the issues that DOGE draws attention to will receive intense focus by government leaders.

Further, the House Oversight and Accountability Committee, which remains under Republican control, announced that it intends to create a subcommittee that would work directly with DOGE. Presumably, this coordination would serve as a channel for DOGE to make recommendations that result in congressional investigations and/or legislative proposals."

Trump 2.0: A First Look at the Department of Government Efficiency

 

[otto105]

Keep in mind folks, that the Constitutional "power" to create this agency is found in the following words:

"Congress shall have power...to regulate commerce...among the several States..."

This agency, along with everyone employed there, and everything it does, is unconstitutional.

It is a sad failing in our Constitutional framework that when Congress does some shit like this, there is no way of just marching over to the Supreme Court and asking them whether what Congress is doing is consistent with its Constitutional powers. Can't do it.

Instead, "we" must wait for someone with "legal standing" to be harmed by it, have them sue the Government, lose in the trial court, and the go through years of appeals, at which point the Court will NOT look at the entire law, but rather the few words in that law that have been challenged and weigh in on it. This is why we have the Department of Education, the EPA, HHS, and scores of other departments and agencies that are not authorized by the Constitution. And Obamacare, if you really want to know.

Too many Americans (and foreigners) believe that if they think something is a good idea (e.g., socialized medicine), then Congress has the power to do it. It is a massive failure of the Public School System to teach simple Civics.

Congress created the agency fuckup.