Comment by snowwrestler

The implication that Libra was killed by a letter from 2 U.S. Senators is hilarious. That’s not how businesses make major decisions.

A public letter from a couple Senators is not a leading indicator of a regulatory problem. Individual Senators have essentially zero regulatory power whatsoever.

It is a trailing indicator of a PR problem. The Hill staffer he quotes is trying to point this out, but Patrick misses it. Perhaps he does not have the personal experience to understand this aspect of what Congress does (unlike the regs he covers earlier in the article, which he clearly has working knowledge of).