4.6 • 12K Ratings
🗓️ 11 February 2025
⏱️ 24 minutes
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0:00.0 | It's Tuesday, February 11th. I'm Jane Koston, and this is Waddey, the show that has decided |
0:07.5 | it has heard too many Taylor Swift-Travs Kelsey conspiracy theories. |
0:18.7 | On today's show, President Donald Trump doubles down on his plan to kick Palestinians out of Gaza. |
0:24.6 | And a federal judge says that the White House has defied his order to unfreeze billions in federal grants. |
0:29.9 | But let's start with the administration's push to dismantle the Consumer Financial Protection Bureau. |
0:35.2 | If you viscerally remember the 2008 financial crisis, you know why the |
0:39.4 | Consumer Financial Protection Bureau was created. The gross combination of predatory lenders, |
0:45.3 | financial institutions running amok, and a housing bubble led to the biggest financial downturn |
0:50.6 | in the United States since the Great Depression. I graduated from college during |
0:54.6 | that time, as did millions of millennials. And if you ever wondered why people around my age |
0:58.9 | are the way we are, well, it wasn't the avocado toast we were all allegedly purchasing. |
1:04.5 | Anyway, the Consumer Financial Protection Bureau was created to protect consumers from the scams that |
1:09.7 | left millions of Americans out of work |
1:11.9 | and out of their homes during the Great Recession. And the scams that banks and other big |
1:16.6 | financial institutions have tried to run on Americans ever since. Remember back in 2016 when |
1:21.6 | Wells Fargo opened millions of fake accounts in the names of customers, even forging signatures |
1:27.0 | and creating fake |
1:28.1 | pin numbers to activate accounts, the CFPB demanded they pay back more than $3 billion in redress |
1:35.0 | to consumers and civil penalties. And the big banks and Republicans hated them for doing that. |
1:41.0 | And so did Elon Musk, who wants to destroy the CFPB, and happens to also want to turn |
1:46.4 | Twitter into a banking platform, which the CFPB would regulate. So it makes all too much sense to see |
1:52.5 | Trump and Musk and the boys of the Department of Government Efficiency, taking aim at an independent |
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