this post was submitted on 31 Jan 2025

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US government agency argues that money isn't property–so it can take yours (reason.com)

submitted 1 month ago by rssbot@lemmy.bestiver.se to c/hackernews@lemmy.bestiver.se

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[–] sp3tr4l@lemmy.zip 1 points 1 month ago* (last edited 1 month ago) (1 children)

These changes were implemented around the "Global Financial Crisis"

Don't fret!

They're going to undo all those, and make it even worse.

https://www.americanbanker.com/news/gop-floats-credit-union-taxes-repealing-fdic-orderly-liquidation-authority

Undo the orderly liquidation authority from The FDIC, so Wall Street investment banks that go tits up can manage their own bankruptcies, fuck the investors.

Eliminate the OFR that Dodd Frank created to keep tabs on said investment banks.

Defund the FDIC.

Defund the NCUA (FDIC equivalent for credit unions).

Eliminate the CFPB.

[–] retrogirl 2 points 1 month ago

Oof! I'm currently speechless. I need to research and digest this.