Maxine Waters beclowns herself to the big red nose level on student loans
Thinking she had reeled in a big one, Democratic chairwoman of the House Financial Services Committee Maxine Waters (D-Calif.) planned to line up the country's big bank presidents (you know, like the famous tobacco executives) and call them on the carpet over the student loan debt issue. She was loaded for bear.
According to the Washington Times:
At a hearing featuring a panel of seven bank CEOs, Ms. Waters ticked off figures on student loan debt and defaults, then asked, "What are you guys doing to help us with this student loan debt? Who would like to answer first? Mr. Monahan, big bank."
Much to the House chairwoman's surprise, she was calmly advised, by bank president after bank president after bank president, that they didn't do student loans anymore. President Obama had nationalized the entire market.
Bank of America chairman and CEO Brian Monahan replied, "We stopped making student loans in 2007 or so."
Ms. Waters replied, "Oh, so you don't do it anymore. Mr. Corbat?"
Said Citigroup CEO Michael Corbat: "We exited student lending in 2009."
She then turned to James Dimon, JPMorgan Chase chairman and CEO, who explained, "When the government took over student lending in 2010 or so, we stopped doing all student lending."
At that point, Ms. Waters changed the subject, saying, "Thank you. What about small business?"
So there weren't any big banks to blame for student debt anymore? No capitalist to call on the carpet? Obama was the one responsible, because he nationalized the market? And maybe she should talk to Obama about it instead?
It's not as though there isn't a problem. According to the Times, student loan debt exploded fivefold, going from $154.9 billion in 2009 to $1.1 trillion in 2017, the Times reported, citing Investor's Business Daily.
If Waters really cared about student loan debt, then she would have to call Obama onto the stand. Good luck with that one. And guess what: we can all see that she won't. Watch her interest in this topic fade to the size of a piece of gum mashed into a filthy sidewalk in her own home she won't live in, South Central.
What's a leftist to do? This is the mother of all beclownings, and in Waters's stiff field of competition, no less. She stands exposed as an ignorant boob, and on just the most basic of news matters involving financial services, signaling that she doesn't even get her information from ordinary news outlets.
This is the chairwoman of the House Financial Services Committee?
One can only conclude from this red-nose circus performance that Waters, despite her record of corruption investigations, doesn't know what she is talking about — at least, not on matters that don't involve the guile of dishonest pocket-lining. She ought to be treated now with the seriousness that merits, which is none. One can only hope that President Trump will be sure to remind her, since she obviously doesn't read newspapers.
Image credit: C-SPAN screen grab via Black and Blonde News on YouTube.