For anyone you still has any doubt about ‘Mad Maxine’
Waters being dumber than a bag of hammers, it was ALL doubt that was completely
removed when, earlier this week, the heads of seven of the largest U.S. banks
presented themselves before the House Financial Services Committee to do battle
with House Democrats. But much of the
questioning fell flat, with Democrats’ barbs either missing the mark completely
or revealing, on their part a rather startling lack of knowledge of how the
business of the banks is conducted.
Neither of which should come as much of a surprise to anyone.
And it was during one of the exchanges that the Committee
Chairmoron, Waters, pressed the executives on the burgeoning crisis of student
loans. Total student-loan debt now exceeds $1.5 Trillion, making it the second
largest category of consumer debt after home loans. Over a million borrowers default on student
loans each year. If current default
trends continue, close to 40 percent of borrowers are expected to default on
their student loans by 2023. And it was Waters
who wanted to know, by golly, what these guys were going to do about it. The
entire exchange was bizarre.
Waters first directed her question at Bank of
America CEO Brian Moynihan, posing the question, “What are you guys doing to
help us with this student loan debt? Who would like to answer first? Mr.
Moynihan, big bank.” To which Mr.
Moynihan responded, “We stopped making student loans in 2007 or so.” And then, in turning her attention to Citigroup
CEO Michael Corbat, this genius asked, “Oh, so you don’t do it anymore. Mr.
Corbat?” And Mr. Corbat answered, “We
exited student lending in 2009.” And I say bizarre because, as is usually the
case, ‘Mad Maxine’ appeared totally clueless.
And it then fell to JPMorgan Chase CEO Jamie Dimon, I
can only assume must have felt like low man, who had to break the news to old
‘Mad Maxine’ that the big banks are no longer in the business of making student
loans. The federal government forced
commercial banks out of the student loan business back in 2010 at the direction
of then president, Barry ‘O’. It is the
Department of Education that now makes almost all student loans directly. Dimon said, “When the government took over
student lending in 2010 or so, we stopped doing all student lending.” Well, imaging that!
The legislation pushing banks out of student lending
was the centerpiece of ex-president Barry ‘O’s education agenda. It was celebrated as a major legislative
victory and helped create room in the budget for Obamacare-related spending. Previously, the government made about
one-third of student loans and backed the rest through a guarantee program that
dated back to 1965. It was passed by the
Democrat House majority, including ‘Mad Maxine’, with the Congressional Budget
Office (CBO) projecting it would save taxpayers about $61 Billion over 10
years.
Of course those projections, as is usually the case
with CBO projections, have turned out to be far, far too optimistic. You see, a report released by the Department
of Education’s inspector general last year estimated the government would make
$5 Billion on student loans extended in the fiscal year through September 30,
2015, down from $25 Billion in profits projected just three years earlier. Escalating defaults likely mean that the
program is now losing money. So once
again we have Democrats proving that they have absolutely no business being in
charge, they’re incompetent.
And the fact that the Democrat chairmoron of the
House Financial Services Committee would not be aware when it comes to the lack
of a role for banks in student lending came as a bit of a shock, although it really
shouldn’t have, to many watching the hearing, especially since the committee’s
staff had extensively prepared for the hearing with bank executives. But let’s face it, Waters has a well-deserved
reputation for being less than bright.
Which I might add, says quite a bit about the imbeciles who keep sending
her back to Congress and have been for 28 years!
Now wouldn’t you think that when considering who it
is that should be put in charge of these committees, that those responsible for
doing so would first want to at least consider the intelligence of those to be
named as Chairperson of a committee? But
apparently, at least on the Democrat side, that does not seem to the case, it’s
either that or those Democrats of even average intelligence have now become in such
short supply that the Democrat leadership are now down to the bottom of the
barrel and left only with the likes of ‘Mad Maxine’ as being their last and
only option.
The sad truth is, my friends, is that at the end of
the day you simply cannot fix ‘stupid,’ no matter how hard you may try. Once again we have ‘Mad Maxine’ demonstrating
her intellectual prowess, her knowledge of all manner of financial issues and
sharp wit when it comes to being able to ask very pointed questions on the
topic being discussed. Not! Instead, it’s once again that we have the
Democrats seeing fit to place this moron in charge of an important committee, a
fact would be hysterical if it were to very like to end up proving to be a
nightmare.
And really, what is it that we can really expect
from morons like ‘Mad Maxine?’ Let’s face it, she’s not in Congress because
she’s some sort of Einstein. She’s in
Congress because her constituent are even dumber than she is. She represents one of the least literate and
most impoverished districts in her state.
A district, that I might add, she doesn’t even actually reside it. And for three years straight this ‘swamp’ rat
has been adjudged to be the most corrupt member in all of Congress. And that’s quite an accomplishment when
you’re literally surrounded by all manner of crooks.
I’d like to ask liberals how it feels to be
constantly be fed an endless stream of BS by both the ‘fake news’ media and the
Democrats for over two long years about Russia collusion and to have this obviously
uninformed, confused loudmouth who hasn’t got a clue about anything other than
trying to “Impeach 45.” Look who their
leaders are Pelosi who never gets anything right, Nadler who shrugs when
Candace Owens calls out Democrats for their racism. This is who liberals continue to vote for. Honestly, just how stupid must you be today to
continue to vote for ANY Democrat?
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