Hours after the US Securities and Exchange Commission sued Elon Musk on the grounds that he had neglected to appear in its investigation into his $44 billion Twitter (now X) purchase in October, Musk called for a “comprehensive overhaul” of the agency.
An October 5 lawsuit by the SEC in a California District Court attempts to compel Musk to cooperate with an earlier SEC subpoena, as part of the SEC’s investigation into whether Musk’s purchase triggered securities laws.
Musk urged the SEC and the U.S. Department of Justice to be investigated instead in an X post published the same day.
As the author puts it,
“A comprehensive overhaul of these agencies is sorely needed, along with a commission to take punitive action against those individuals who have abused their regulatory power for personal and political gain.”
“Can’t wait for this to happen.”
Musk said in response to a post detailing the numerous steps taken by the United States government against companies managed by Elon Musk.
All of these organizations need to be reorganized, and those who have abused their regulatory authority for personal benefit should be held accountable by a special commission.
When asked by an X user when such a probe may occur, Musk replied,
“I estimate the probability at 100%.”