In 2019, Maxine Waters (D-CA) ascended to the chair of the House Financial Services Committee. In April, Waters conducted a hearing for which she had assembled the heads of some of America’s largest banks. Waters asked these titans of finance: “What are you guys doing to help us with this student loan debt? Who would like to answer first?” She then went down the line of bankers, who said they were no longer in the student loan business. Finally, she came to Jamie Dimon, CEO of JPMorgan Chase, who said, “When the government took over student lending in 2010 or so, we stopped doing student lending.” Tail between her legs, Waters quickly moved on to other matters. What the exchange demonstrated is that Waters was at the very least unprepared to chair that hearing (about which, more coming up), but what may be even more vexing is that the government takeover Mr. Dimon referred to had received an aye vote from none other than Maxine Waters. In February...(Read Full Article)