Did it not occur to somebody to bring the financial institutions together and say, hey, you probably ought to consider a different way of establishing your floating rate resets because there is this integrity problem?
Toomey questions why regulators didn't address LIBOR's integrity issues sooner.
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We owe it to each customer to get to the bottom of the FTX implosion, and any violations of the law should be aggressively prosecuted.
I think there is a case to be made that there should be a regulatory regime on disclosure requirements for an issuer.
It is absolutely essential to investigate any fraud and violations of existing law, and prosecute those who are committing those crimes.
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