I was pleased to hear multiple individuals answer yes, in response. Now it is time for our national financial institutions to fix the underlining problems to guard against any future “moral hazard,” giving insured banks incentives to pursue added risks by maximizing profits while shifting losses to the federal government.
I will continue my work as the Senior Texan on the House Financial Services Committee by providing stronger oversight, not just more regulation. I believe regulators must be directed by Congress to stick to their mandate of safety and soundness, rather than political and social agendas.
You can watch my remarks during the hearing here. |