Yesterday, Congressman Bill Huizenga (R-MI), Ranking Member of the Investor Protection, Entrepreneurship, and Capital Markets Subcommittee appeared on Fox News’ Fox & Friends to discuss yesterday’s congressional hearing on the collapse of FTX. Highlights and video of Congressman Huizenga’s remarks are included below.
Click the photo above to watch Rep. Huizenga's interview
On the Timing of SBF’s Arrest
Why wasn’t he arrested a week ago? Why couldn’t they wait until after the hearing? I think we would have found out valuable information having him sworn under oath in front of our committee answering questions that could then have been used for his prosecution. I disagree with that decision on the timing, not the decision to arrest him.
On Sam Bankman-Fried’s Parents Involvement
There are indications that his dad was on the payroll. The question is to what end? What were you doing? In fact, when Sam Bankman-Fried came into my office for a brief meeting - he was 15-20 minutes late for a 30 minute meeting - right before he came to testify in December of 2021, his dad was actually with him in my office. I was curious what is their role? These are law professors that you would think should be giving their son legal advice. There was a podcast where his dad said nobody else was there doing it so he was sort of filling in. Obviously, the breakdown is just monumental on this.
On How Nearly Everyone from Wall Street to Retail Investors were Fooled
Quite honestly, I think people were smitten with this idea of a political progressive, smart entrepreneur who was going to “reimagine capitalism” while making them gobs of money. How he was making them money was outright fraud.
See the latest happenings in the 4th District by following me on my Facebook, Twitter, and Instagram social media channels. I encourage you to join the conversation!
