Wednesday, February 12, 2025

Who does this help?

 


 
 

Who does this help?

That's the question I find myself asking multiple times a day.

When Elon Musk and his cronies at the Department of Government Efficiency (DOGE) set their sights on the Consumer Financial Protection Bureau (CFPB), I was dumbfounded.

How can they want to destroy an agency that has recovered over $20 Billion from banks and corporations engaged in predatory practices? Surely we can all agree that fraud is bad?

This week, the Trump administration announced that they would decline all additional funding for the CFPB, order all employees to stop working, and close the agency's DC headquarters.

Why the urgency?

Only days before their assault on the regulatory body, Elon's X (formerly Twitter) struck a deal with Visa to jumpstart their plans to expand into the financial services industry.

Now, in a brazen act of self-interest and corruption, they've shut down the very agency that regulates that industry!

HEADLINE: Elon Musk's X partners with VISA to provide financial services. The social media company said it would start a peer-to-peer payments service, moving to expands the app's abilities.
 

So I'll ask again: Who does this help?

Certainly not you and me, certainly not the hundreds of millions of Americans who are protected by the CFPB, but instead the very same billionaires and CEOs who are raiding the federal government to weaken oversight and make themselves richer.

This kind of blatant self-dealing has been at the core of most, if not all, of the Trump administration's early agenda. I will continue to stand against these violations of public trust and protect the interests of Americans, not Donald Trump and Elon Musk's billionaire friends in Congress.

Together in this fight,

Jim

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This email was sent by Jim McGovern
Jim McGovern for Congress
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