Elon Musk wants to 'delete' a federal agency designed to prevent another financial crisis and protect people from scams

[Dulcinea]

(Business Insider) -snip- In his efforts to cut government costs, Elon Musk has thrown his support behind shutting down a federal office created in the wake of the Great Recession to regulate financial services used by Americans.

"Delete CFPB," Musk wrote on X early Wednesday of the Consumer Financial Protection Bureau. "There are too many duplicative regulatory agencies."

Musk, along with Vivek Ramaswamy, has been tasked with heading up the Trump-created Department of Government Efficiency, or DOGE, and finding ways to reduce spending and streamline bureaucracy within the federal government. The unofficial advisors have floated "deleting" entire agencies, laying off staff, and enforcing return-to-office mandates.

https://www.yahoo.com/news/elon-musk-wants-delete-federal-214133728.html?.tsrc=daily_mail&segment_id=DY_VTO_CONTROL&ncid=crm_19908-1475736-20241130-0&bt_user_id=UNqr2zc1pRypVXTSjqryi2wO3ikBIq0eeevZrP66YVJPq0GkGwp0Yzn0yAnN%2FT3z&bt_ts=1732963978980

[ramedy]

1. Of course he does.

And they will.

[dutch777]

2. Save money and screw the little guy. I think they will call that Win Win.

How does one do away with an agency? To do it right and formally I suppose you need Congressional action. That will have Dem resistance and take time. But I suppose you could get an agency head of your own, who fires or furloughs everyone de facto ending the agencies ability to function. But assuming that agency, by law, has to sign off on certain things which in fact the party in power still wants to do, now there are things that they want that they can't do. This could be entertaining to watch!

[Irish_Dem]

3. So the billionaires create a financial crisis and benefit from it.

And scam consumers.

The hatred and contempt coming from the billionaires for the American people is palpable.

[Passages]

4. Pure evil.

There is no such thing as a good billionaire.