Trump killing CFPB slammed as “get out of jail free card“ for Elon Musk’s X Money
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It is not "destroying" the richest man in the world in any way possible. Even without X payments, and other companies, he is still the richest man in the world. I suppose it is preventing him from being the first person worth $1 Trillion. Oh No!
I don't think people really understand the scale of his net worth in any way.
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jstephe6361
Wise, Aged Ars Veteran
It is when the president and his side kick are or plan to commit fraud.
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Lest we all forget Trump literally started his current presidency with <checks notes> a crypto rugpull.
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You forgot to mention, post the wrong thing on the site and your account gets suspended. And presumably with that, your ability to access your funds.
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Tap to pay? Though that's 20+ years old when Europeans started getting it.
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It's really hilarious isn't it? The idea that you would even want to combine "the place I shit post and argue with people" with "the place that manages all my finances" just boggles my mind.
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Have you heard of Truth Social, created by the biggest lying sack of shit the world has ever seen?
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It makes sense when you realize that the people he was talking to were probably the executives of digital payments companies. He doesn't talk to normal people, he just talks at them.
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I don't think people understand scale at all. A single billion of anything is....not really relatable. Its just a 1 with a b that we know is way bigger than a 1 with an m. Or 100 with an m. Sure, you can logic it out, but you can't really feel it, understand it.
That's why nobody gets upset at big numbers in government, be it spending, debt, taxes, or anything else really. Spending or collecting 6 billion dollars....is just 6. We can't really relate to a billion, or that's what I think anyway.
I also believe that a lack of visceral understanding of numbers drives a lot of bad policy decisions and assumptions. For instance - still reporting the Dow increases or decreases in numbers. When the Dow was at 1000, a drop of a 100 was significant. At over 40k, the scale changes....As of this writing the DJIA has dropped 500+ points....but its only ~1.3%. But to a lot of people, the 500 number sounds scary.
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It's like if 4Chan announced that they are opening a bank. Actually, I'd probably trust 4Chan before I trusted X.
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Easiest and cheapest quarter billion he ever spent, until his additional unhinged actions tanked his companies.
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The alternative, of course, is that the 99.99% of Ars members who are not you are actually people who can reason and you are the toad-brained. But I don't expect that thought to cross your mind, given a line has such a low probability of touching a volume that small.
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Excellent points
My dad was livid because Spiro Agnew was bought for ? $5000?
Plug that in to the inflation calculator, and ... It's still cheap!
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I have personally used the CFPB to deal with a scummy financial institution fraudulently claiming I owned them money.
I was receiving constant harassing debt collection calls and letters over an amount of money that realistically I would have just paid if I had no other recourse. My time and sanity were worth far more than the money, and a lawyer most definitely wasn't worth it. After filing a CFPB complaint it all stopped - the institution was forced to produce receipts that immediately proved their claims were fraudulent, and it all went away.
Months later the same institution attacked my credit report over the issue, and the credit agencies just shrugged and said "whatever". Another CFPB complaint later, and my credit report was fixed extremely quickly.
So anyone claiming that the CFPB "destroys" people is absolutely right, in my experience - they absolutely destroyed some people working for a scummy faceless financial institution.
I was receiving constant harassing debt collection calls and letters over an amount of money that realistically I would have just paid if I had no other recourse. My time and sanity were worth far more than the money, and a lawyer most definitely wasn't worth it. After filing a CFPB complaint it all stopped - the institution was forced to produce receipts that immediately proved their claims were fraudulent, and it all went away.
Months later the same institution attacked my credit report over the issue, and the credit agencies just shrugged and said "whatever". Another CFPB complaint later, and my credit report was fixed extremely quickly.
So anyone claiming that the CFPB "destroys" people is absolutely right, in my experience - they absolutely destroyed some people working for a scummy faceless financial institution.
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Musk's Mouthpiece and Putin's Orange Bitch, aka Donald Trump, makes an outrageous and obviously false claim, and Republicans all mindlessly nod in agreement.
This America sure is great....
This America sure is great....
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This reminds me of the comments on Ars and other sites when Russia decided to start a little special operation in Ukraine. People were telling Russians to go out and protest and take down the regime.
Easy to say from behind your computer.
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If we're going to keep the CFPB, we need to give it some more teeth:
- Each week we send about 25,000 complaints (>1M/year)
- Enforcement actions in 2024: Twenty-eight
- Complaint submitted
- Route: We'll send your complaint directly to the company
- Company response: Companies generally respond in 15 days
- Complaint published: in our public Consumer Complaint Database
- Consumer review: We will let you know when the company responds. You will have 60 days to provide feedback about the company's response.
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I never understood what we would actually gain by the e-krona in practice. Especially since Swish (a payment system from the Swedish banks) has removed the need for cash almost completely since you can send money to anyone with a phone number and a bank account through Swish. I haven't used cash for several years. Many smaller stores don't even take cash anymore, preferring bank cards or Swish.
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Business corruption famished deregulators are the most dangerous politicians for general popular health and future startup dynamism of a nation.
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And if your net worth is $1M, i.e. you're someone who's already pretty well off, then the equivalent cost of buying Trump is about the price of an entry-level iPad...
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Comments full of people with anonymous names typing from the comfort of their desk about "well if I was stuck on the space station I'd tell Trump to kiss my ass!"
Alright cool.
People trying to pay their mortgage/rent and raise their kids, the Hollywood characters never seem to have to worry about bills when they do the cool resistance montages.
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It all goes back to the Citizens United decision. That is the point all was lost. These kleptomaniacs are going to break down every means of oversight then steal everything from us.
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I seem to recall the Reason Foundation is financed by the Koch family. The same Koch's featured in this quote from npr.org: "Two names likely to come up at the hearing are Charles and David Koch, the conservative petrochemical magnates. They have poured millions of dollars into efforts to discredit the science of climate change. The brothers have given over $145 million to climate-change-denying think tanks and advocacy groups between 1997 and 2018. The Kochs were joined in their efforts by Exxon, which has given nearly $37 million over the same time to spread climate misinformation." (https://www.npr.org/2021/10/27/1047...led-to-take-sweeping-climate-action-heres-why)
My concern would be that they use misinformation for the benefit of the very wealthy at the expense of everyone else. Removing the CFPB would also fit into this very well. As for their achievements:
https://www.americanprogress.org/ar...consumer-financial-protection-bureau-turns-5/
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Is there just this mindset among republicans that helping/protecting people hurts them subtly because it makes them gradually dependent on the help/protection?
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No, you know what makes no sense? That there's such a thing as "medical debt" at all.
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Sure, but after decades of hearing Americans boast about their guns and how they keep them to protect themselves from government tyranny, can you really blame people for being surprised at the lack of reaction against tyranny?
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No, they're just fine if it's help/protection for themselves. They just don't want the undeserving (i.e. people of colors or religions, etc. other than theirs) to have it. They have a fundamental lack of empathy.
I have an aunt who has an adult child with Down syndrome. She complained loudly when they cut special education funding when said child was in elementary school. Now? She's all on board with Trump's cuts, presumably including those that will hurt kids with Down syndrome who are presently in elementary school. I can't say for sure; we don't talk much anymore.
I also had a conversation in which I attempted to suggest that maybe we should've just let Japan have Hawaii after Pearl Harbor in exchange for "peace," much like Trump/Putin want Ukraine to give up all of the territory that Russia has already taken for "peace." And I got told that's a stupid comparison because Hawaii is part of the US, and Ukraine isn't. Basically, we're entitled to our country but they're not to theirs.
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I am so tired of this shit. Following US news it watching paint dry with the inevitable expectation that the whole house will burst into flames at the end of it.
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