- cross-posted to:
- news@lemmy.world
- cross-posted to:
- news@lemmy.world
Summary
Elon Musk called to “delete” the Consumer Financial Protection Bureau (CFPB), which has returned nearly $20 billion to Americans since its creation after the 2008 financial crisis.
Critics, including Public Citizen, argue Musk’s stance is driven by conflicts of interest, as the CFPB recently finalized a rule to supervise large tech companies offering digital payment services—a business Musk appears poised to enter.
“In short, Musk is calling for elimination of the consumer protection regulator over a business line he seems poised to enter… This is systemic corruption at a grand and intolerable scale,” one advocate said.
The CFPB has long faced opposition from corporations and conservatives but is praised for combating financial abuses and protecting consumers.
“Capitalist utopia” is a bit of an oxymoron, no?
I think it is.
Utopia for a select few, dystopia for everyone else.
Not if you’re a selfish capitalist billionaire who doesn’t give two shits about other people. But for everyone else, yes.
There certainly exist capitalist utopias, like the Ayn Rand Galt’s Gulch and Heinlein’s Luna. All utopias are fictional, of course.