00:00Do you recall, or are you knowledgeable, of the Keating 5 scandal back then?
00:07Yes, sir, and I will point out that I was...
00:09I don't want to...
00:10I don't know, I will point out that I...
00:12Limited time, I have limited time.
00:13I identified...
00:14Mr. Secretary, it's the gentleman from New York's time.
00:17I just asked you a question.
00:18The President of the United States was dealing with that country on foreign policy.
00:24Now, Eric Trump, the President's son and co-founder of World Liberty Financial, said, and I quote,
00:31I'm not going to get into who the investors are, but I've got some pretty meaningful investors,
00:40end of quote.
00:41Today, the price of the token has fallen over 50%, and the Trump fans who bought the token
00:48are now begging to get out.
00:51Now, I'm not making this up.
00:55Just about a shady crypto deal, or a possible gift, when a foreign-linked investor is putting
01:03hundreds of millions of dollars into a company controlled by the President's family, and
01:11at the same time, this President is conducting foreign policy with that country.
01:18Do you recall, or are you knowledgeable, of the Keating 5 scandal back then?
01:26Yes, sir, and I will point out that I was...
01:28I don't want to...
01:28No, no, no, I will point out that I...
01:30Limited time, I have limited time.
01:31I identified my time.
01:32Mr. Secretary, it's the gentleman from New York's time.
01:35So, I just want to make sure everyone knows, who doesn't know, that the Keating 5 scandal
01:41involved five U.S. senators accused of pressuring the Federal Home Loan Bank board to expedite
01:49and give more consideration to the case of Charles Keating, Jr., who ran the California-based
01:54Lincoln Savings and Loans.
01:55It led to a 14-month investigation unveiling how five U.S. senators and staff ended up
02:02with more than $1 million in contributions, four trips to the Bahamas, and all expenses
02:08paid stays at resort hotels.
02:10Following the scandal, the industry saw sweeping regulatory changes that was launched by then-President
02:16George H.W. Bush.
02:18Now, Mr. Secretary, I'm sure you can agree conflicts of interest and improper influence
02:26by U.S. elected officials over bank regulators' weakened supervisory independence, and ultimately
02:33impose massive losses on consumers and taxpayers.
02:39I think that we can all agree upon that.
02:41And, as we know, the basic lessons from the post-Keating reforms still applies today.
02:48When the Office of the Comptroller of Currency, the OCC, is deciding to get a bank charter.
02:54I think we can stimulate that.
02:56Now, Mr. Besson, as our nation's treasurer, I'm sure you also know that a foreign-linked
03:04investment firm tied to the United Arab Emirates government quietly bought about half of the
03:13Trump family's crypto company, World Liberty Financial.
03:17And at the very same time, the President of the United States was dealing with that country
03:23on foreign policy.
03:26Now, Eric Trump, the President's son and co-founder of World Liberty Financial, said, and I quote,
03:32quote, I'm not going to get into who the investors are, but I've got some pretty meaningful investors,
03:41end of quote.
03:43Lack of transparency.
03:46And it didn't end there.
03:47When Trump fans brought the tokens, they thought they were getting the deal of a century.
03:53But what they didn't know was that only Trump and his sons had the sole power to decide who
04:01can sell the token and when.
04:04Today, the price of the token has fallen over 50%, and the Trump fans who bought the token
04:11are now begging to get out.
04:15Now, I'm not making this up.
04:17I'm not making this up.
04:18You can see it for yourself on the World Liberty Financial Discussion Forum yourself, Mr. Secretary.
04:27So there is no longer, this is no longer just about a shady crypto deal or a possible gift
04:37when a foreign-linked investor is putting hundreds of millions of dollars into a company controlled
04:46by the president's family, and at the same time, this president is conducting foreign policy
04:54with that country.
04:56You know what that cause or creates?
04:58It creates a national security concern.
05:02So I'm not going to ask much of you, Mr. Secretary.
05:05I just want to know whether you will commit today to pause and heighten the scrutiny of any bank
05:17charter or licensing application at the OCC connected to the World Liberty Financial until
05:25all of these conflicts of interest and foreign influence reviews are completed and shared with
05:33the United States Congress.
05:35All I need to know is will you halt it and do a complete investigation and scrutiny of this
05:44licensing application?
05:47All you have to ask is yes or no?
05:49No, Congressman.
05:51All you have to ask is yes or no?
05:52The OCC is an independent entity, and I would note, Congressman, in 2006, you traveled to Venezuela
05:59I take that as a note.
06:02On behalf of your donor, you do not want to answer that question.
06:06I take that as a note.
06:09I'm asking you to do your responsibility as Secretary of the Treasury.
06:16You do not.
06:17Mr. Makes, time has expired.
06:19You cannot erase what you did in 2006.
06:22He's the one that went or passed your time, Mr. Chairman.
06:24No, and the.
06:25He did not answer my question.
06:26He had six seconds left to try to answer your question, and the time expired.
06:32It was a yes or no.
06:33It was a yes or no answer.
06:34I asked him, will he?
06:35No, it was a yes or no.
06:37The chairman recognizes the chairman.
06:39Stop covering for the president.
06:41Yeah, well.
06:42Stop being his flunky.
06:44Okay.
06:45And gentlemen, gentlemen.
06:47He's talking to me.
06:48I'm responding back then.
06:49Your 10,006 trip to Venezuela.
06:51Either one.
06:51Stop covering for the president.
06:54Don't be a flunky.
06:55Work for the American people.
06:57Mr. Secretary, Mr. Meeks, trip to Venezuela.
06:59Work for the American people.
07:01Don't be a cover-up for a mob.
07:04Maybe you're going to see your friend Nicholas Mabira in Brooklyn prison.
07:07I will.
07:07He's not recognized, Mr. Besson.
07:12Subscribe to One India and never miss an update.
07:17Download the One India app now.
Comments