1. United States
2. N.J.
3. Letter

I write to express grave concerns over Elon Musk's reported attempts to create an unregulated private payment system outside federal oversight. This could undermine crucial financial regulations, enabling fraud, money laundering, and economic instability while eroding consumer protections. Musk's pattern of circumventing oversight in various industries raises red flags about accountability. Given his track record of disregarding labor laws, public safety, and ethical corporate governance, allowing him greater influence over financial systems would be reckless. I urge you to take a firm stance against these efforts and advocate for stricter oversight of financial services, especially involving billionaires seeking to privatize and control vital economic infrastructure. Please support legislation strengthening consumer safeguards, ensuring transparency, and preventing individuals like Musk from undermining democratic institutions through unchecked corporate power. Safeguarding financial stability and the public interest must take precedence over private interests.