Bill Foster: “I'm amazed at how consistent that your industry is; when you come to us, it is almost always with some elaborate set of…”

Frankly, when I read about this, it triggered my PTSD from the AIG situation with credit default swaps during the financial crisis.

Do you remember with AIG, the real problem with AIG falling into bankruptcy is that it would immediately put a bazillion of the European banks into violation of their capital requirements, which was major contagion that----

This made the discharge petition much more effective at its intended purpose, which is sort of to operate as a safety valve against, you know, the Speaker's rather dictatorial power.

This bill strengthens FSOC's capability to execute its mission by improving consistency, accountability, and outcomes for our financial system. I appreciate also Ranking Member Waters' support for this bill in committee and urge my…