"Remember, Andreessen, Rogan, Musk, and Ramaswamy are each fabulously wealthy. They are in the top .1 percent (Musk himself is literally the 0.00000001 percent, because he’s wealthier than everyone else in the world). Together, they have fabricated and laundered a story about the federal government’s consumer watchdog agency in order to justify destroying it.

But that agency, as I’ve written before, is dedicated to protecting ordinary consumers like you and me from the predations of the rich and unscrupulous, i.e., people like Marc Andreessen. What does the CFPB do? It investigates companies that have engaged in deceptive, abusive, and unfair practices, ensuring they treat their customers fairly. What kinds of practices? Well, have a look at their website, where they list all of their enforcement actions. CFPB victories include getting banks to get rid of or reduce overdraft fees, and pursuing Wells Fargo for “misapplied payments, wrongful foreclosures, and incorrect fees and interest charges,” resulting in billions of dollars being returned to customers. The associate director of the National Consumer Law Center has said that the CFP “has completely changed the consumer financial marketplace. Overall it has had a tremendous impact on making it more fair and transparent.”

This is the work that Andreessen calls “terrorizing” financial institutions."

https://www.currentaffairs.org/news/billionaires-are-lying-shamelessly-to-convince-us-to-destroy-our-government

#USA #Trump #Musk #CFPB #Libertarianism #AnarchoCapitalism