02/06/2019
https://congress.gov...
"You contrast that with the financial services arm of AIG, unregulated, and by virtue of the Commodity Futures Modernization Act unregulated by the states and by the Federal Government."
"CDSs are, in fact, a species of insurance, and naked swaps are more akin to gaming than insurance since they lack insurable interest."
"If this Committee wants the CFTC to stay as the principal regulator in this, it must work aggressively and it must demonstrate to the American people--and when I say 'the American people,' the industr..."
"The American taxpayer has now guaranteed $6 trillion of the banking system."