"The thing that stands in his way is having strong regulators who will make him play by the same rules as every other bank. Luckily, he has access to the entire federal government, and he is able to simply shut those regulators down. So the actions over the last few weeks have been incredibly bad for individual, everyday Americans, but incredibly good for Elon Musk’s pocketbook."

#Trump #Musk #CFPB #billionaires #banks #bankers #ConsumerProtection
/7

"Elon Musk himself wants to run a payments company. He has said from the start that he plans to turn X into essentially a bank. And he’s taken steps in that direction in the last few weeks, including a partnership with Visa. The thing that stands in his way is having strong regulators who will make him play by the same rules as every other bank."

~ Julie Margaretta Morgan

#Trump #Musk #CFPB #billionaires #banks #bankers #ConsumerProtection
/6

https://www.democracynow.org/2025/2/12/julie_morgan_cfpb_trump_musk_doge

"As part of the fallout, we got a little bit of banking regulation and we also got the CFPB, which might not have been able to prevent the crash if it had been around in 2006, but was designed to help Americans get some relief from exploitative schemes like payday loans, ripoff car dealers, and hinky banking practices."

#Trump #Musk #coup #CFPB #ConsumerProtection #billionaires #WallStreet #banks #bankers #ElizabethWarren
/5

"Remember, the 2008 collapse resulted directly from Wall Street investment banks’ gambling with exotic investment schemes that were mostly based in trading debt on home mortgages. (Counterpoint: Everything would have been fine if housing prices had simply kept going up forever.)"

#Trump #Musk #coup #CFPB #ConsumerProtection #billionaires #WallStreet #banks #bankers #ElizabethWarren
/4

"The Consumer Financial Protection Bureau was created by Congress following the 2008 financial crash, to help Americans who aren’t part of the reigning Finance ‘n’ Tech Oligarchy stand up to the giant corporations that seek to extract profits from us at every opportunity."

~ Doktor Zoom

#Trump #Musk #coup #CFPB #ConsumerProtection #billionaires #WallStreet #banks #bankers #ElizabethWarren
/3

https://www.wonkette.com/p/why-americans-but-not-banks-love

"[CFPB] is despised by everyone from payday lenders, to credit card companies, to the goons at Project 2025. And Elon Musk, who would like to turn Ex-Twitter into a banking app which would be regulated by CFPB, is no fan either. …

It’s the pet project of [Elizabeth] Warren — 'a nasty woman, despite her phony beer commercial' — and so 'we had to get rid of it.'”

#Trump #Musk #coup #CFPB #ConsumerProtection #billionaires #WallStreet #banks #bankers #ElizabethWarren
/2

https://www.publicnotice.co/p/trump-musk-destroy-cfpb-liz-warren

The idea that some #bankers from Goldman and Bank of America will go into the guts of some of #Europe's largest institutional #SpaceCompanies and emerge with a lean, competitive entity seems far-fetched, to put it mildly . One might even expect that it would be more likely to observe #unicorns dancing in a flame duct. https://arstechnica.com/space/2025/02/europe-has-the-worst-imaginable-idea-to-counter-spacexs-launch-dominance

@ChrisMayLA6

The trouble is that come the next election it won’t be a socialist left of centre Government that gets in but the repulsive, incompetent Tories, who got us into this mess in the first place. People have short memories. Remember the bankers.

@macnchez @pleaseclap That is not exactly true. The #WWII #SFBA shipyards were fully unionized. #Marinship, in #Sausalito, began with Black workers in auxiliary locals with lower wages than the white workers in the boilermakers unions. However, “In 1944 in the case of James v. Marinship the California Supreme Court held that African Americans could not be excluded from jobs based on their race, even if the employer took no discriminatory actions. … Thurgood Marshall successfully argued the case, winning a ruling that the union be required to offer equal membership to African Americans.” #MarinCity was built nearby as the first federally funded integrated public housing. Sadly, even though there was no official redlining in #MarinCounty, the local #Realtors and #bankers refused to issue mortgages or sell homes to #AfricanAmericans. In addition, when the shipyards closed and the soldiers came home, Black workers lost their jobs and were not allowed to get private union jobs.