[semilattice]

unusualwhales could be intentionally misinterpreting the intent of the congressman. Or, they can be correct.

Another site [1] explains this as a the congressman is questioning whether SEC is practicing selective-outrage, rather than the function of governance.

Finding a really bad apple, and then using to blaming the whole industry of de-centralized finance, is very similar how criminal activities are used to persecute legal firearm ownership in US.

With that said, this republican politician is a lawyer, -- and to my 'layman' mind -- every lawyer politician is bad, unless they prove otherwise.

[1] https://tokenist.com/congressman-says-ftx-not-failure-of-cry...

[salawat]

...How do you propose to write effective lefislation or statute without having at least some exposure to how the legal system works?

I mean, I get it. The bullshit our "enlightented" legalist class manages to pull off is legendary. However, unless you're willing to hit one big reset button, that's pretty much inevitable given we use a common law system. Over half of the law is completely disconnected from statute.