What people actually paying attention know? Is Big Business and Big Government work in tandem - to their ongoing mutual benefit. And the country’s destruction.
Big Business writes laws making Big Government bigger. Which Big Government then passes. Bigger Big Government then works to make Big Business even bigger. Bigger Big Business then writes laws… Lather, rinse, repeat…
Nauseatingly over-remunerated Big Bank employees become Big Government bureaucrats. Who then help the Big Banks get even bigger. Then the Big Government bureaucrats are rewarded by becoming nauseatingly over-remunerated Big Bank employees. Who then become... Lather, rinse, repeat…
To wit: I give you the United States’ financial sector. The Big Banks are titanic, dominant forces that control great and growing percentages of the market. The Big Government agencies that allegedly exist to prevent Big Bank abuses? The Federal Reserve and the Consumer Financial Protection Bureau (CFPB) chief amongst them? Are titanic, dominant forces that control great and growing percentages of the market.
Together? They dominate and have destroyed their huge portion of the US economy.
The last huge law the Big Banks wrote? The “Dodd–Frank Wall Street Reform and Consumer Protection Act.” Which neither reformed Wall Street nor protected consumers. Why neither?: “(R)eports from The New York Times and Mother Jones revealed that language in the final legislation was nearly identical to language suggested by lobbyists.”
Dodd-Frank has murdered thousands of small banks. As intended. Allowing the Big Banks to buy the corpses on the cheap and thereby expand their marketshares. As intended.
Dodd-Frank massively increased the power of the unconstitutional, unaccountable Fed. And created the unconstitutional, unaccountable CFPB.
The allegedly “independent” Fed and CFPB have now been so powerful and so unaccountable for so long? Their bureaucrats respond with anger and revulsion to even the thought of anyone even prospectively reining them in.
Fed chairman Jerome Powell is a government villain too cartoonish even for Ayn Rand:
“Jay Powell says Donald Trump couldn't fire him even if he tried….’Not permitted under the law,’ the central bank chair said Thursday in curt but clear responses to reporters who asked about his views on any legal authorities Trump might have in terms of firing or demoting him or any other top Fed officials.”
Ummm…80 million people just voted to make Donald Trump the chief executive of the government. The chief executive is in charge of the executive branch and can fire anyone he wants. Any laws that prohibit the chief executive from firing anyone he wants? Are tyrannical - and unconstitutional. And the fact that Big Government passed laws that make Big Government even bigger and less accountable? Should surprise no one.
Should Fed chair Powell be fired? I would say so. As but one reason why? He and his panel of alleged “experts” missed every aspect of the years-long inflation from which we are still suffering. They were way too late to respond when it began. They then said the it was “transitory” when everyone else on the planet knew it was deep and entrenched. They then prematurely cut interest rates again - when it appeared obvious inflation is yet again increasing. And in fact it is yet again increasing.
There are very few things in life more annoying than someone who is at once condescending and wrong. Get rid of ALL of the condescending, wrong Fed bureaucrats. And the Fed along with them.
The CFPB, like the Fed, is in its entirety unconstitutional. Its funding alone renders it so. An idiotic Supreme Court ruling notwithstanding. Congress is supposed to fund all things government. The CFPB funds itself with fees and fines it imposes. Which is on top of all the other problems a conflict of interest of the highest order. It’s no different than police departments seizing assets they then get to keep.
Just like the rest of Dodd-Frank, the CFPB has done the Big Banks’ dirty work. To wit: The CFPB has launched at least eight separate investigations of teeny, tiny short-term lenders. Short-term lenders being just about the only competitors to Big Banks left after fifteen years of the CFPB and Dodd-Frank murdering small traditional banks.
And the CFPB is in engaging in some of the Joe Biden Administration’s last-second obnoxiousness…
CFPB Proposes to Regulate Nonbanks in Personal Loan Market
Get that? The agency that is supposed to be going after “Too Big to Fail” banks? Is instead going after NON-banks. To even better assist the Big Banks. That’s not obnoxious at all.
And the CFPB is in engaging in some of the Joe Biden Administration’s last-second obnoxiousness…
CFPB Proposes to Regulate Nonbanks in Personal Loan Market
Get that? The agency that is supposed to be going after “Too Big to Fail” banks? Is instead going after NON-banks. To even better assist the Big Banks. That’s not obnoxious at all.
Which brings us back to the Trump Administration and its DOGE - The Department of Government Efficiency.
One of the two co-czars of DOGE is Elon Musk. Who has said some VERY promising things about both the CFPB and the Fed.
Elon Musk Reposts Call to End the US Federal Reserve Bank
Yes, please. And yes, please.
The first two letter of DOGE are “DO.” As in it let’s DO it. Times two.
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