Congress created FSOC after the 2008 financial crash to protect families from large financial institutions that load up on debt and then turn around and crash our economy. Secretary Bessant could have used FSOC over the last year to tighten regulations. so that we don't face more bank failures like Silicon Valley bank or First Republic bank that crashed less than three years ago. (02:13–02:20)
CLAIM
Asserts that Secretary Bessant had the opportunity to use FSOC to tighten regulations.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
