But it's not just about rolling back safeguards. Secretary Bessen is ignoring emergence risks in the economy. The private credit market looks like a ticking time bomb. Late last year, Moody's found that banks had $300 billion of exposure and that the risk posed by these shadowy holdings is growing. And as Jamie Dimon said, quote, when you see one cockroach, there are probably more. But Secretary Bessen and FSOC have their eyes shut tight and decided they don't see any cockroaches at all. (03:27–03:40)
CLAIM
Asserts Moody's findings on banks' exposure and growing risks.
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