Political Quotes

“At the Rules Committee hearing, Republicans revealed their true intentions with this bill. My friend, Mr. Norman, stated, regarding the investors who were defrauded by FTX: I blame the investor. I mean, would I get on an airplane with two wheels missing and one wing? They should have done their homework. Representative Austin Scott of Georgia on the Rules Committee doubled down on this kind of victim blaming, saying that he believed we should use a buyer-beware approach. This is entirely offensive to consumers to simply say that they should have known better than to get defrauded. The very definition of fraud implies that the consumer could not have been expected to know or understand some facet of a contract. I would venture to say that this bill is even worse than just a buyer-beware approach. This bill creates a facade of regulation that is designed to make ordinary investors and consumers think they are protected and that the investments are safe. In reality, this bill would facilitate and legitimize fraud rather than warning consumers to beware of the risk. In addition to blaming millions of defrauded investors, Republicans continue to move forward with a bill that exempts the same crypto firms that were unlawfully issuing or facilitating crypto securities, giving them a get-out-of-jail-free card. This is what Republicans love to do.…”