I was listening to CNBC today while clearing out my emails they had on the head of the chamber of commerce
While I understand its her job to have a narrow view of only job creation and to try to get as close to a free market as we can have. I do wonder why they felt the need to try to bring suit over UDAAP. Unfair, Deceptive, or Abusive Acts or Practices from Consumer Financial Protection Bureau standards.
Its kind of in their name financial protection to my mind the right to employment without discrimination is a financial protection the right to earn a living wage. It makes me wonder why they focused on that topic and it was a line in the sand and had to go to court.
I understand she has a hard job there is many factors that keep us from having a true free market.
They mention in the interview the near shore and on shore push by the government which she seemed ok with. They mention supply chain and national security.
She brought up points of overreach by the SEC and CFTC on emissions and why they shouldn't have the right to set standards. I disagree with this stance I think this is one realm that SEC does need to protect consumers if you look at those that own 3m stock their value of their investment is impacted by the forever chemical that they are settlings lawsuits on this is an environmental impact on disclosures to investors that would be needed, Phillip Morris think of cigarette smoke and the disclosures that should of been done on impact i.e. second hand smoke and lawsuits to health and environment. Exxon mobile the risk of a ship on Valdez how did that impact profits with cleanup. The closer to me oil spill with BP having to pay for cleanup this is all environment and I wonder what people think when they say a government can't set safeguarding for investments and dont have the right to require standards and protections with emissions.
Its surprising she didn't mention crypto and the loss of talent that has started with the anti crypto stance as well businesses starting to move to UAE and other countries who are pro crypto.
If your not familiar with the view that we don't have a true free market here are things that most bring up as to why we don't
- National security
- Export bans i.e. computer chips from Nivida cant go out of the country
- Import bans i.e. fixing market to not be flooded by steel by China and others
- Fixed interest rates by the federal reserve
- SEC https://activerain.com/blogsview/5795889/gary-gensler
- CFTC regulates financial future commodity contracts
- Ag subsidies i.e. potato would cost 20.00 a bag if they didn't step in
- Most licensed activities by state and federal agencies i.e. real estate
- FDA i.e. trying to keep food and drugs safe
- ATF I will stop at 10 because I am sure you get the idea
Many believe in free markets and aspire to safely have as much free market as we can but I do believe there is a need for some of these agencies I do respect those working towards that even when I disagree on what they focus on i.e. UDAAP