Law Facebook rebuffs Maxine Waters on cryptocurrency delay

[JonesBones]

Man, they have been getting a beating by Congress but are gonna keep going. Stock is doing fine too.

A top Facebook executive on Wednesday refused demands by Rep. Maxine Waters and other Democrats to delay work on the company's new digital currency despite growing concern about risks it will pose to the global economy.

Waters, a California Democrat who chairs the House Financial Services Committee, pressed executive David Marcus at a hearing to stop "dancing around this question" and commit to a moratorium on the so-called Libra project until Congress enacts new safeguards.

It didn't help to compare Libra to 911:

"We're told by some that innovation is always good," Rep. Brad Sherman (D-Calif.) said. "The most innovative thing that happened this century is when Osama Bin Laden came up with the innovative idea of flying two airplanes into towers. That's the most consequential innovation, although this may do more to endanger America than even that."

WTF? When one thinks of innovation, one goes straight to 911? lol at the fear mongering

https://www.politico.com/story/2019/07/18/facebook-maxine-waters-cryptocurrency-delay-1419200

 

[method115]

lol at comparing 911 to starting a crypto currency.. I would have loved to be there when they come up with that idea.

 

[Shonuffbrad]

 

[newerest]

Yeah sure was innovative to repackage the Japanese tactic of kamikaze. What a dunce

 

[Starman]

Maxine Waters looks like James Brown's long lost sister.

 

[Problem Child]

FB will succeed because politicians are idiots.

 

[Dirt Road Soldier]

I'm not sure who to root for here as both sides are trash.

 

[Reactionary Corporatist]

JonesBones: LOL CRYPTO IS A JOKE ITLL GO NOWHERE NO ONE TAKES IT SERIOUSLY!

Also JonesBones: PLEASE MOMMY GOVERNMENT, PLEASE INTERVENE AND STOP CRYPTOS!!

 

[JonesBones]

JonesBones: LOL CRYPTO IS A JOKE ITLL GO NOWHERE NO ONE TAKES IT SERIOUSLY!

Also JonesBones: PLEASE MOMMY GOVERNMENT, PLEASE INTERVENE AND STOP CRYPTOS!!

lol at the emotion.

 

[Reactionary Corporatist]

lol at the emotion.

Lol @ how desperate you are to have your daddy government enforce your financial views

 

[JonesBones]

Lol @ how desperate you are to have your daddy government enforce your financial views

 

[tinker_190]

"Ultimately, if Facebook's plans come to fruition, the company and its partners will wield immense economic power that could destabilize currencies and governments," she said.

Yeah, we wouldn't want anyone interfering with DC's monopoly on that

 

[JamesRussler]

I hate them both!

 

[MikeMcMann]

Ultimately a global currency like a crypto currency will be a very good thing for the citizens of the world.

To be able to simply take money from your crypto account and put it in any family members, any persons crypto account world wide, INSTANTLY without having to pay one or more banks big fees for acting as an intermediary or Trust Agent is a positive for all. All but the 'broker' or 'bank' in the middle currently.

i have no opinion as to whether it should be FB or Google or Apple or Amazon or any other company as the Administrator of the platform. What I am saying is that the platform itself is a very good and needed one.