On the recordJuly 28, 2015
A reform that handles large financial firms and makes failure feasible under clear rules without spillovers would greatly reduce the probability of Government bailouts.
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congress.govEditor's note · Context
Toomey advocates for reforms that minimize the risk of bailouts for large financial firms.
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If Congress is serious, if we are serious about the threats that face us, regardless of the politics, it must be similarly serious about supporting American innovation.
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There was unauthorized lending of customer assets to an affiliated entity, and there were apparently fraudulent promises to investors and customers about FTX's operations.
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I think that there are a number of ways that you can go about creating a regulatory regime to take account of that risk.
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