For most Democrats, serving in Congress isn’t about leadership or solving the nation’s problems, it has become nothing more than a quest to ‘get’ political opponents — the president of the United States, all Republicans, or, in the case of “Crazy” Maxine Waters on Wednesday, “mega-bankers.”
Waters hauled representatives from five of the country’s biggest banks before her House Financial Services Committee, which she chairs, to berate them over something that neither they nor the Trump administration had anything to do with: Building the country’s massive, $1 trillion-plus student loan debt.
It quickly became apparent that Waters had no clue what she was talking about — and no idea that Obama ordered the federal government to nationalize student loans in 2010, nearly a decade ago.
After she blamed the “megabanks” for the current student loan crisis, Waters then demanded the attendant bank heads explain just what the heck they are doing to help out poor, beleaguered student loan borrowers (none of whom took out school loans with a gun held to their heads, by the way).
At first, none of the representatives said anything because, again, their banks had no role in financing student loans. After Obama ordered Uncle Sam to take on that responsibility — and then give anyone who requested it the money to go to school, few questions asked — their institutions stopped making loans.
Waters eventually called out Bank of America CEO and Chairman Brian T. Moynihan when no one stepped forward to answer.
“We stopped making student loans in 2007 or so,” Moynihan responded.
CitiGroup CEO and Chairman Michael L. Corbat followed him by announcing that his institution stopped in 2009.
Jamie Dimon, the CEO and chairman of JPMorgan Chase, ‘reminded’ Waters straight up that Obama ordered the government to intervene and take over student loans years ago.
“When the government took over student lending in 2010 or so, we stopped doing all student lending,” Dimon said.
You know, it’s okay for congresspeople to not have every single detail about every single subject readily at hand. But if they are, say, chairing committee meetings where they intend to berate and blame witnesses for something, the very least Americans should expect is that they have a clue what they’re talking about.
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