Bessent Proposes FSOC Overhaul, Critics Warn

Treasury Secretary Scott Bessent proposes a significant reform of the Financial Stability Oversight Council (FSOC), established post-2008 housing crisis to safeguard the U.S. financial system. Critics, including Oscar Valdés Viera and Senator Elizabeth Warren, warn that loosening FSOCs strict rules could be risky, especially with emerging financial threats like AI stock bubbles.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.