The billionaire aide to Donald Trump indicates he wants to see the end of an agency founded after the financial crash of 2007-8.

Summary

Elon Musk’s Department of Government Efficiency (Doge) has moved to take control of the Consumer Financial Protection Bureau (CFPB), an agency created after the 2007-08 financial crisis to regulate banks and protect consumers.

Trump appointed Doge officials to access CFPB systems, sparking protests and criticism from Democrats and employee unions.

Musk indicated plans to shut down the agency, aligning with Republican efforts to dismantle it.

Critics warn this threatens financial oversight and consumer data privacy, while Trump allies push for broader government cuts.

  • wise_pancake@lemmy.ca
    22·
    1 day ago

    How do I time things so I benefit from the massive shareholder value extraction phase and avoid the financial fraud gets revealed and the market collapses phase?

    • Flocklesscrow@lemm.eeEnglish
      2·
      4 hours ago

      Start sometime around 2008 when the US went into overdrive to punish the most vulnerable for Wall St’s unending, unrestrained greed. Then you’ll additionally benefit from 14 years of open-purse monetary policy, as the Fed handed out cash like Halloween candy. Then get yo self some sweet sweet Covid relief.