“Prior to the 2008 recession, many financial institutions were engaging in 'proprietary lending,' where a bank would invest funds for its own gain instead of earning revenue through commission by trading on behalf of clients.”

American politician and Marine Corps combat veteran

Seth Wilbur Moulton is an American politician and Marine Corps combat veteran who has served as the U.S. representative for Massachusetts's 6th congressional district since 2015. He is a member of the Democratic Party. His district covers much of Boston's northern suburbs, including Andover, Marblehead, Peabody, and Salem, where he grew up. As a public figure, he is known for his work in Congress and his background in military service, with remarks that often reflect politics and public life.