I have a proposal for everyone opposing the stablecoin bill. I will withdraw my opposition and convince all the crypto people to drop theirs as well if you will propose a bill that does the following:

If banks want to be eligible for FDIC insurance they must

1 - Pay all depositors at least the risk free rate

OR

2 - Cap total compensation (including all benefits) at 3x the median income of American workers for all employees at the bank and within the corporate family that owns the bank, as well as a total ban on paying dividends or buying back stock

If you will stop banks from ripping off depositors or turn banks into public utilities and force them to retain capital instead of paying out executives and investors until they can pay an appropriate rate to depositors, then stablecoins are less relevant.

But if you oppose stablecoins and won't do this...

Why are you supporting massive payouts for bank executives who rip off their customers?