Rohit Chopra

But I think we as people should want a lot of technological progress, but not if it comes at the expense of our dignity, our democracy, and frankly, fairness in our economy.

But I think we as people should want a lot of technological progress, but not if it comes at the expense of our dignity, our democracy, and frankly, fairness in our economy.

Actually, I really feel for all the businesses out there who sometimes think that they're chumps because they're following the law, especially small players, while big giants can break the law with impunity Pay a fine and move on. I mean you asked about Facebook. When I was an FTC commissioner, Facebook was embroiled in a scandal related to Cambridge Analytica.

Actually, I really feel for all the businesses out there who sometimes think that they're chumps because they're following the law, especially small players, while big giants can break the law with impunity Pay a fine and move on. I mean you asked about Facebook. When I was an FTC commissioner, Facebook was embroiled in a scandal related to Cambridge Analytica.

It had flagrantly violated an FTC law enforcement order and what happened was that they paid – billions of dollars so that Mark Zuckerberg and other executives could get an immunity clause in the settlement. And I actually think most people, it's not just everyday citizens, it's even business owners are asking themselves, how do these big CEOs seem to always get off scot-free?

It had flagrantly violated an FTC law enforcement order and what happened was that they paid – billions of dollars so that Mark Zuckerberg and other executives could get an immunity clause in the settlement. And I actually think most people, it's not just everyday citizens, it's even business owners are asking themselves, how do these big CEOs seem to always get off scot-free?

You know, after the financial crisis, John, it felt like there was absolutely no accountability. Millions of people lost their home, but barely any executives were held accountable. In fact, their companies were bailed out and they got bigger.

You know, after the financial crisis, John, it felt like there was absolutely no accountability. Millions of people lost their home, but barely any executives were held accountable. In fact, their companies were bailed out and they got bigger.

Well, you always have some regrets. And I think when it comes down to it, there is so much abuse of power by some of the biggest powerful companies. And it takes a lot of effort to stand up to that and prosecute that when they violate the law. And we could always use more energy from the public to unearth that fraud.

Well, you always have some regrets. And I think when it comes down to it, there is so much abuse of power by some of the biggest powerful companies. And it takes a lot of effort to stand up to that and prosecute that when they violate the law. And we could always use more energy from the public to unearth that fraud.

So, yeah, I mean, look, at the end of the day, we always made sure that we were following every law and we did. And I don't regret any of that. I think we cannot have a strong society if individuals feel that they can just sidestep the laws of the land.

So, yeah, I mean, look, at the end of the day, we always made sure that we were following every law and we did. And I don't regret any of that. I think we cannot have a strong society if individuals feel that they can just sidestep the laws of the land.

Well, you know, it's really interesting. When I got actually to both the FTC and the CFPB, it really was so clear to me that it was a sleep at the wheel. I mean, we saw so much crime against consumers that really it was almost a catch and release policy. You find them and you let them go.

Well, you know, it's really interesting. When I got actually to both the FTC and the CFPB, it really was so clear to me that it was a sleep at the wheel. I mean, we saw so much crime against consumers that really it was almost a catch and release policy. You find them and you let them go.

And I do think that just having someone who is a watchdog, it actually does scare off some of the worst, worst abuses against people. And this is why I really do think that corporate law enforcement where people can actually stop those abuses.

And I do think that just having someone who is a watchdog, it actually does scare off some of the worst, worst abuses against people. And this is why I really do think that corporate law enforcement where people can actually stop those abuses.

It's not just the tens of billions of dollars we've gotten back for people, but we have stopped market abuses like we saw in the financial crisis that destroyed trillions of wealth. and led to so many people losing their homes. And look, John, you ask like, what are we learning from this moment?

It's not just the tens of billions of dollars we've gotten back for people, but we have stopped market abuses like we saw in the financial crisis that destroyed trillions of wealth. and led to so many people losing their homes. And look, John, you ask like, what are we learning from this moment?

I do think that there are sometimes places where we need to say openly, this part of government isn't working. That was certainly true in the start of the CFPB. We actually shut down a corrupt and failed agency called the Office of Thrift Supervision and created a new one. I remember when the letters came down off the building. Yeah.

I do think that there are sometimes places where we need to say openly, this part of government isn't working. That was certainly true in the start of the CFPB. We actually shut down a corrupt and failed agency called the Office of Thrift Supervision and created a new one. I remember when the letters came down off the building. Yeah.