Former director of the Consumer Financial Protection Bureau (CFPB) Rohit Chopra joins Catalysts anchor Madison Mills to discuss the ongoing termination of federal workers by the Department of Government Efficiency (DOGE) led by tech billionaire Elon Musk.
"I'm really worried about this effort to defund all of the police that look after Wall Street and Big Tech," Chopra tells Yahoo Finance, adding, "there's big questions right now as to whether the market is going to shift from meaningful competition to really figuring out how to bend the rules, cheat, and sidestep accountability."
He observes that as the Trump administration took over the White House, investors, businesses, and corporations anticipated "a different regulatory environment where maybe certain things would be less stringent, but now what they're facing is just lots of chaos and questions," he explains to Yahoo Finance, adding "my hope is that there's not going to be a marketplace that incentivizes scam artists and fraudsters rather than honesty and competition."
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This post was written by Angel Smith