Senator Cynthia Lummis in a recent speech asking for more investigatory powers into the Fed: "Look what happened in the way banks were supervised in the last 4 years. Chokepoint 2.0 brought about a government-caused failure of two banks [Signature and Silvergate]. Those banks were not insolvent. They Federal Reserve and the FDIC pushed them into insolvency because they didn't like their customers. That was it. They didn't like that banks were providing banking services to digital asset companies, to Melania Trump, to the children of the now-president. They targeted those people. They debanked those people. Government did that, by threatening the financial institutions that had them as customers, saying that the safety and soundness of the institution was going to be subject to scrutiny [...]. That was our government turned against our people for no good reason. And there's no way to get scrutiny of the Fed [...] we don't have sufficient oversight of them."
Senator Cynthia Lummis
Senator Cynthia Lummis2.8. klo 02.12
The Fed has become so used to operating in the dark, they forgot who they work for. This is why Operation Chokepoint 2.0 happened & the Fed felt they could target the American people. I won’t have confidence in the IG’s findings until they have independence from the Fed Chair.
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