“Elon Musk and his fellow oligarchs believe government and laws are simply an impediment to their interests and what they are entitled to…” Senator Bernie Sanders, Independent, Vermont 2/10/25
CFPB RIP
4:41 PM · Feb 7, 2025 49.6MViews
This is the communication a “special federal employee”, Elon Musk, used to let the world know he was going to unilaterally kill off a government agency created by Congress, the Consumer Financial Protection Bureau (see the above posting on X).How many of us think this is a professional way for an alleged federal employee to communicate with the people he serves? It’s more worthy of a grade schooler taunting a peer on the playground—and even then it is embarrassing. But that is who we have, along with his troop of teenage hackers, invading federal agencies and firing thousands of employees.
When asked this week if he could confirm whether it was his goal to completely eliminate the bureau, Trump said, “I would say yeah.“ “Because we’re trying to get rid of waste, fraud and abuse,” he said.
The NBC report also specifically noted that “the administration has not provided evidence to back up allegations of fraud at the agency”.
The irony is the CFPB has used the last 15 years to prevent waste and fraud caused by the financial industry’s practices and to protect the consumer from this industry’s scams to increase their profits. The Trump Administration, on the other hand, claims it is somehow preventing waste and fraud by eliminating this agency. It is the consumers who need protection from the financial industry, not the other way around.
———————————————————————————————
I’d love to hear your thoughts about the CFPB, it’s attempted “deletion” and what’s going on with the Trump/Musk invasion of our federal agencies and our privacy. Please leave your comments below:
The Poverty Trap is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
