Senator Sheldon Whitehouse
👤 SpeakerAppearances Over Time
Podcast Appearances
to a handful of millionaires and billionaires and giant corporations and making our little kids and old people and people who need health care be the ones who are going to pay for it.
to a handful of millionaires and billionaires and giant corporations and making our little kids and old people and people who need health care be the ones who are going to pay for it.
to a handful of millionaires and billionaires and giant corporations and making our little kids and old people and people who need health care be the ones who are going to pay for it.
So let's back up just a tiny little bit and remember what the Consumer Financial Protection Bureau is all about. We put it in place after the big crash in 2008 when 10 million people, 10 million families lost their homes. And the idea was we had all these consumer protection laws. They were scattered among seven agencies. Those agencies didn't enforce them. It was nobody's first job.
So let's back up just a tiny little bit and remember what the Consumer Financial Protection Bureau is all about. We put it in place after the big crash in 2008 when 10 million people, 10 million families lost their homes. And the idea was we had all these consumer protection laws. They were scattered among seven agencies. Those agencies didn't enforce them. It was nobody's first job.
So let's back up just a tiny little bit and remember what the Consumer Financial Protection Bureau is all about. We put it in place after the big crash in 2008 when 10 million people, 10 million families lost their homes. And the idea was we had all these consumer protection laws. They were scattered among seven agencies. Those agencies didn't enforce them. It was nobody's first job.
So it turned out to be nobody's job at all. We gathered those up, we put them with one agency, and then we said to that agency, enforce the law, that's your job. So over the last dozen years, what that agency has done is it's found more than $21 billion in fraud. where people got cheated on various financial products and they didn't just find the fraud.
So it turned out to be nobody's job at all. We gathered those up, we put them with one agency, and then we said to that agency, enforce the law, that's your job. So over the last dozen years, what that agency has done is it's found more than $21 billion in fraud. where people got cheated on various financial products and they didn't just find the fraud.
So it turned out to be nobody's job at all. We gathered those up, we put them with one agency, and then we said to that agency, enforce the law, that's your job. So over the last dozen years, what that agency has done is it's found more than $21 billion in fraud. where people got cheated on various financial products and they didn't just find the fraud.
They found the fraudsters and made them give the money back to the people they cheated. More than $21 billion, it's gone to about 200 million people. This is government that really works. So Elon Musk comes in, shuts it all down. And now here comes the best part. It pays to fight back because that's what's happened. People have taken to the street over this.
They found the fraudsters and made them give the money back to the people they cheated. More than $21 billion, it's gone to about 200 million people. This is government that really works. So Elon Musk comes in, shuts it all down. And now here comes the best part. It pays to fight back because that's what's happened. People have taken to the street over this.
They found the fraudsters and made them give the money back to the people they cheated. More than $21 billion, it's gone to about 200 million people. This is government that really works. So Elon Musk comes in, shuts it all down. And now here comes the best part. It pays to fight back because that's what's happened. People have taken to the street over this.
People are telling their stories about how the agency helps them. And it appears that there's some moving in reverse here. For right now, we're in the courts because what Elon Musk did is plainly illegal. But this is a place where people are starting to say, damn it, this is government that works for me, and I want those cops back on the beat so I'm not getting cheated.
People are telling their stories about how the agency helps them. And it appears that there's some moving in reverse here. For right now, we're in the courts because what Elon Musk did is plainly illegal. But this is a place where people are starting to say, damn it, this is government that works for me, and I want those cops back on the beat so I'm not getting cheated.
People are telling their stories about how the agency helps them. And it appears that there's some moving in reverse here. For right now, we're in the courts because what Elon Musk did is plainly illegal. But this is a place where people are starting to say, damn it, this is government that works for me, and I want those cops back on the beat so I'm not getting cheated.
They understand that what Elon Musk has done is kind of like draw a target on anybody who has a credit card a mortgage, a car loan, a payday loan, a student loan, a checking account, even those online transactions, all of them. The CFPB is just the cop on the beat to say, you got to follow the law. You can't make your profits by cheating people. Elon doesn't like that, but the American people do.
They understand that what Elon Musk has done is kind of like draw a target on anybody who has a credit card a mortgage, a car loan, a payday loan, a student loan, a checking account, even those online transactions, all of them. The CFPB is just the cop on the beat to say, you got to follow the law. You can't make your profits by cheating people. Elon doesn't like that, but the American people do.
They understand that what Elon Musk has done is kind of like draw a target on anybody who has a credit card a mortgage, a car loan, a payday loan, a student loan, a checking account, even those online transactions, all of them. The CFPB is just the cop on the beat to say, you got to follow the law. You can't make your profits by cheating people. Elon doesn't like that, but the American people do.
And we're pushing back against him.
And we're pushing back against him.