Elon Musk is very pleased to perform during the inauguration at the Capital One Arena on January 20, 2025 in Washington, Colombia.
(Christopher Furlong / Getty Images)
On the moon ahead of his murder at various federal agencies, Elon Musk has already nominated one for liquidation. “Remove CFPB”, Moscow oligrach, tuned with a plot, running the destruction in the Department of Government Effectiveness (DOGE)-wrote last November on xThe social media platform, which it runs into oblivion. “There are too many duplicated federal agencies.”
As never before, “Silicon Valley” Omni-Troll did not imagine what he was talking about. Consumer Financial Defense Bureau was launched in 2011 after the 2008 financial crisis; His mission was to stop predatory lending and expanding consumer protection in the deregulated financial sector. The establishment of the bureau presented for the first time when the only agency was charged with finding the interests of ordinary consumers in the banking and financial system impregnated with mass fraud, self -government and monopoly. You know that there is nothing “duplicated” in your functions because investment bankers have driven the agency from the word go – and their rented mouthpieces in the Republican Party Congress continuously designed to death.
Current Issue
In his 16-year run CFPB registered the implementation of the actions that returned about $ 20 billion For consumers who are recorded by the financial sector. Under ITS BIDEN-APPOINTED DIRECTOR, ROHIT Chopra, The Bureau Has Death-Sspiral of Medical Debt For Working Americans, Decreased Outo Ing Accounts and Ran Up Charge Balances, and He sought to regulate applications for finance and payments managed by technological monopolies such as Google and Apple.
It is this last activity that drives anti-CFPB animus Musk. Doge Manions Musk went to the agency last Thursday, following its standard data on documents concerning the largest financial subjects of the country as part of allegedly “read” a mandate that quickly passed to “confused at will“But in this case, for Shakedown there is a terrible part as Bloomberg journalists Write Jason Leopold and Evan Weinberger:
Just nine days before his DOGE team visited CFPB, Musk’s X-Favor Twitter-denied that she made a deal with Visa to process peer payments. Musk publicly reflected on the expansion in remuneration since he first took control of X in 2022. Introduction of this business can bring CFPB Supervision According to the rules, the agency was finalized in November. DOGE access may now include sensitive and potentially competitive information.
In other words, the Edgelord technician who directly sent X after reading “CFPB RIP“Decided that his belated move to the digital wallets sector for his revenue, which leaks the property of the Vanity Social Media, is enough to condemn Americans to deadly medical debt, predatory lending and fraud.
Of course, Musk is also a mandatory stupid tool in a wide national attack on CFPB. Trump has already preserved Chopra early in the second term and usually installed the Minister of the Treasury Scott of Impart as Acting. But this impromptu plan soon entered into an administrative death sentence, as the recently confirmed director of the management and budget of Russell Wuts, a Christian nationalist zealum who directed the 2025 project, took the reins. Project 2025 devoted a whole chapter The holy reason for the destruction of the CFPB, which in Robert Boss’s Florida authority, was “an exhilarated mechanism to ensure the impossible financing of non -profit non -profit organizations that are politically consistent with those who led its creation.”
Vought spent a little time to recite the same anthem. In His own message X Last weekend Maga-Ratchik announced that it pulls out the next round of financing agency from the Federal Reserve, saying that its current $ 700 million was “excessive in the current fiscal setting” and that “this spy, which is long to contribute to make At one time to contribute to $ 700 million is now shutting down CFPB. ” Also vought by e -mail officials CFPB To direct them to stop issuing recommendations and rules, suspend public communications and close all legal actions and visual activity – actually the “Olly Oxen” cry for bad subjects in the financial sector. CFPB instructed the staff Stay home all this week As the breakdown continues under the guidance of Mag.
National Union of Treasury staff representing CFPB staff, filed a suit block the Vought order; The union also filed a separate lawsuit that seeks to cancel the Vought permit from the DOGE team to access the internal communication system. It is unclear whether the complaints will have a lot of practical effect, however, more and more on Trump’s White House more and more unable to comply with court rulings.
Several critics in the Maga movement noted that it was far from good for the alleged “populist” brand of Trump to unleash the richest person in the world to fulfill the main protection of consumers in the grossly unequal financial sector. If only the rooting of the Mus writes Sahab AhmaraAR RIGH Incomprehensible“Trump will eventually issue millions of households of the working class and trade unions that pulled them out last year’s new government work to organize efforts in their firms.”
Indeed, long before the November elections, several GOP Congress members, which included the Republican Chairman of the Financial Services Committee for bankers and financial institutions. This shows the overall goal now as a foreign oligarchic agenda of Trump 2.0 as Trump 2.0 the substance of this rule is about: He sought to give consumers more control over who could reconsider and disseminate his financial information. Recruit another one for Elon Musk.
