Sen. Sherrod Brown did not mince words kick off the Senate banking committee's hearing on Facebook's plans for a new digital currency.
Brown said Facebook "doesn't deserve our trust, it should be treated like the profit-seeking corporation it is, just like any other company."
"Facebook is dangerous," the Democrat from Ohio and ranking committee member began his opening statement Tuesday. "Now Facebook may not intend to be dangerous, but surely they don't respect the power of the technologies they're playing with. Like a toddler who has gotten his hands on a book of matches, Facebook has burned down the house over and over and called every arson a learning experience.
"Facebook has demonstrated through scandal after scandal that it doesn't deserve our trust. It should be treated like the profit-seeking corporation it is, just like any other company," Brown said.role in facilitating "They moved fast and broke our political discourse. They moved fast and broke journalism. They moved fast and helped incite a genocide. They moved fast and they're helping to undermine our democracy," Brown said. "Now Facebook asks people to trust them with their hard-earned paychecks. Takes a breathtaking amount of arrogance ... to look at that track record and think, 'You know what we really ought to do next? ...
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