Elon Musk gives five-word reaction to Joe Rogan and podcast guest discussing power of Independent Federal Agencies and 'de-banking crisis'

Joe Rogan recently had entrepreneur and renowned software engineer Marc Andreessen as a guest on the Joe Rogan Experience podcast. The two spoke about several things but perhaps the most interesting parts were when they discussed the government and political powers.

A notable thing Andreessen mentioned was "Independent federal agencies" and how these institutions operate without much supervision. The entrepreneur said that these independent federal agencies have been abusing their power to de-bank smaller American companies and financial competition.

Andreessen said:

"We have this thing called 'independent federal agencies'. For example, this Consumer Finance Protection Bureaus or CFPB, which is sort of [US Senator] Elizabeth Warren's personal agency that she gets to control. And it's an 'independent agency' that gets to run and do whatever it wants. And if you read the constitution, there's no such thing as an 'independent agency' and yet there it is.'"

On what CFPB does, Andreessen said:

"Terrorize financial intitutions. Prevent new competition - new start-ups that want to compete with the big brands. Just terrorizing anybody that wants to do something new in the financial services. De-banking... De-banking is when either you as a person or your company are literally kicked out of the banking system."

SpaceX and Tesla founder and the newly-appointed Head of the Department of Government Efficiency Elon Musk retweeted a clip of the conversation with the caption:

"This is super messed up!"

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Joe Rogan and Marc Andreessen talk more about independent federal agencies de-banking financial institutions

Andreessen then mentioned a few people he knows personally that have been de-banked by independent federal agencies just for having the "wrong politics", much to the surprise of Joe Rogan. From there the eye-opening revelations just kept coming.

Andreessen then mentioned the term "PEP" or Politically Exposed Person - a recently coined banking and financial term that slanted toward political leanings (1:22):

"Under current banking regulations, after all the reforms of the last 20 years, there's now a category called a 'Politically Exposed Person' - PEP. And if you are [dealing with] a PEP you are required by financial regulators to kick them out of your bank."

Rogan then asked if there's anyone on the left (Democratic/liberal party) that's been de-banked for being a PEP, Andreessen said:

"I have not heard of a single instance that anybody on the left has been de-banked."

Check out the entire conversation below: