If you’re not politically connected, you don’t get to play. Ostensibly designed to thwart fraudulent businesses, Operation Choke Point increasingly closes down small, non-politivcally-connected businesses. >>>
LINK: Operation Choke Point: The Government’s Covert War on Small Business (by Zach Weissmueller in Reason)
It’s Operation Choke Point, ostensibly an attempt to crack down on fraudulent businesses, but in reality a dragnet that has ensnared innocent entrepreneurs unfairly classified as “high-risk” players.
Earlier this year, FDIC chairman Martin Gruenberg told Congress that Choke Point was over, but many business owners believe the FDIC and DOJ has passed enforcement duties along to a newly created independent agency: the Consumer Financial Protection Bureau (CFPB), the brainchild of progressive senator Elizabeth Warren (D-Mass.). The CFPB operates under the guidance of the Federal Reserve and doesn’t rely on Congress for funding, which critics say allow it to operate without any meaningful checks on its power.
What do you think?