Trevor Noah compares Trump's promised war on Wall Street with his actual war on consumers
Right now, White House budget director Mick Mulvaney is the victor in the "boss fight" at the Consumer Financial Protection Bureau, after winning the first round of a legal fight with rival CFPB acting director Leandra English, Trevor Noah said on Wednesday's Daily Show. President Trump appointed Mulvaney to the job despite — or more likely because — Mulvaney says the CFBP, which has refunded billions of dollars to consumers from shady financial institutions, is too hard on banks, among more pointed criticism.
"They took money from banks and gave it back to the people?" Noah asked in mock outrage. "That's not how money works. Everyone knows it's: money goes into the banks, and then things happen, and then yachts." Still, "according to the Trump administration, the real victims are the banks themselves," he added, showcasing their argument, then laughing at it. "Financial institutions devastated? Trampling on capitalism? Have you seen capitalism lately? If you scroll through capitalism's Instagram feed, life is looking pretty good."
Look, by all measures, "Wall Street is already living large while so much of America is still struggling," Noah said. "And castrating the Consumer Financial Protection Bureau will only make it worse. This is one of those times when I wish that there was a political hero, someone who would stand up and say, 'I'm not going to let Wall Street get away with murder!'" He played that clip, and if you think it was Bernie Sanders or Elizabeth Warren, well, watch below. Peter Weber
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
Melting polar ice is messing with global timekeeping
Speed Read Ice loss caused by climate change is slowing the Earth's rotation
By Peter Weber, The Week US Published
-
The Week contest: Stick guitar
Puzzles and Quizzes
By The Week US Published
-
'Sports executives ushered a fox into the henhouse'
Instant Opinion Opinion, comment and editorials of the day
By Harold Maass, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published
-
Immigration helped the US economy outpace peers
speed read The U.S. economy grew at an annualized rate of 3.2% last quarter
By Peter Weber, The Week US Published
-
4-day workweek gets boost from UK study
Speed Read Following a six-month trial, the majority of participating British companies are still using the truncated schedule
By Peter Weber, The Week US Published
-
US sues to block Kroger-Albertsons merger
Speed Read The Federal Trade Commission sued to block the $24.6 billion merger between the grocery giants
By Peter Weber, The Week US Published