House Financial Services Committee Chair Maxine Waters asked Facebook CEO Mark Zuckerberg at a hearing Wednesday about Facebook's policy not to fact-check political ads. She cited ads purchased from Russia and Iran.
"Despite all of your technological expertise, Russia and Iran are at it again for the upcoming elections," Waters said, addressing Zuckerberg. "Then, last week you announced a new ad policy that gives politicians a license to lie."
"Are you telling me... You plan on doing no fact-checking on political ads?" she asked.
"Our policy is that we do not fact check politician's speech....we believe that in a democracy it is important that people can see for themselves what politicians are saying," Mark Zuckerberg replied.
"From a business perspective, the very small percent of our business that is made up of political ads does not come anywhere close to justifying the controversy that this incurs for our company," he said. "This really is not about money."