To me, we need to be sitting here as a country, as the Fed, as Members of Congress, saying, we need to be ready for the Chinese when they invade Taiwan, because I see no reason why they will not do that shortly.
Luetkemeyer emphasizes the need for preparedness against a potential Chinese invasion of Taiwan.
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The concern that we have, though, is that there is a rubber stamp effect with FSOC with regards to insurance SIFIs.
For the last several years it has been a regulatory onslaught for them, and part of it is banking regulation, which makes it difficult to get access to credit.
I can't agree more with Mr. Im that we should be doing more through regular business, and I think sanctioning China and Mexico is certainly in order.
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