WHITEHOUSE: I ask you to read this magazine; BESSENT: I did read it, point out my children doing hw

WHITEHOUSE: “I would actually ask you personally to read this Economist magazine article.”

BESSENT: “You gave it to me in your office and I did read it. I will point out to my children behind me that doing your homework is important.”

BESSENT: “The strength of the U.S. economy, our financial markets is the depth and breadth of our financial system. I believe we have likely seen the top 5 banks become too big a share of banking assets. Because of undue regulation, the shadow banking system gets larger to the detriment of community banks.”

Senator Crapo to Scott Bessent: “When it comes to your qualifications to be the next secretary of the Treasury, there is no room for debate.”

https://www.facebook.com/HygoNewsUSA/videos/1147590070202289

WHITEHOUSE: I ask you to read this magazine; BESSENT: I did read it, point out to my children doing homework

Key Points

WHITEHOUSE: “I would actually ask you personally to read this Economist magazine article”

BESSENT: “You gave it to me in your office and I did read it

• I will point out to my children behind me that doing your homework is important”

BESSENT: “The strength of the U

Transcript Highlights

The following is transcribed from the video audio:

• I would actually ask you personally to read this Economist magazine article
• No, Senator Whitehouse, you gave it to me in your office and I did read it
• I will point out to my children behind me, doing your homework is important
• I think you’re the first person in a nomination series who’s actually done the reading that has been proposed
• Look, I think the strength of the US economy or financial markets is the depth and breadth of our financial systems
• I believe that we have likely seen the top five banks become too big a share of banking assets
• We have seen because of undue regulation, the shadow banking system get larger and larger and to the detriment of community banks, small banks, and the small regional banks
• So I think that we have to take a look at both regulatory and supervisory conditions in those
• I think that the banking system is well-capitalized, perhaps overcapitalized, and this comes from someone
• My background is as a financial institution’s analyst

Full transcript: 470 words transcribed via Whisper AI.