We are here today, obviously, to consider three Fed nominees. But today's hearing is not just about vetting them. It is really a referendum on the Fed's independence and whether or not we are going to abandon a core part of our democracy.
Toomey emphasizes the importance of Fed independence in the context of political issues.
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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.
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.
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