Maxine Waters knew she was on live TV during her special hearing on Capitol Hill yesterday. So, the 80-year-old Chairman of the House Finance Committee made sure she gave the powerful, big, bad CEO’s of banks a real beating. Waters demanded to know what these horrible men were going to do about all the poor young Americans in debt by student loans. That’s when she got laughed right off Capitol Hill. You’ll love this.
Maxine Waters might be dangerous if she had half a brain. During a House Financial Services Committee hearing yesterday morning, Waters said, “Today there are more than 44 million Americans that owe … $1.56 trillion in student loan debt. Last year, 1 million student loan borrowers defaulted which is on top of the 1 million borrowers who defaulted the year before.”
Then, she raised her voice asking the bank executives, “What are you guys doing to help us with the student loan debt? Who would like to answer first? Mr. Monihan? Big bank?”
In all fairness to these CEO’s, they had every right to pile on the Congresswoman at this time. To their credit, they showed restraint. You’ll know why when you hear their answers.
“We stopped making student loans in 2007 or so,” Mr. Monihan responded.
With sarcasm in her voice, Waters said, “So you don’t do it anymore?” She then immediately moved on to the next banker. Come hell or high water, Auntie Maxine would get her man and bring him to justice.
“Mr. Corbyn?” asked Maxine. You could feel the tension in the room.
He replied, “We exited student lending in 2009.”
Waters moved on, “Mr. Dimon?”
“When the government took over student lending in 2010, we stopped doing all student lending,” he replied.
You could feel the chamber want to erupt in laughter. You see, back in 2010, Barack Obama federalized the student loan program. Maxine, as head of the Finance Committee, should know that. In the very least, Wacky Waters was being indignant toward the CEO’s over student loan debt, but in essence, it was her own party who is responsible.
Investors Business Daily points out that due to the nationalization of student loans, federal student loan debt skyrocketed from $153.9 billion in 2009 to $1.1 trillion by the end of 2017:
In 2010, President Obama effectively nationalized student lending by cutting banks — which had been offering government-backed loans to students — out of the equation and having the government make the loans itself.
“By cutting out the middleman, we’ll save the American taxpayers $68 billion in the coming years,” Obama said when he signed this change into law. “That’s real money.”
As a result, federal student loan debt shot up from $154.9 billion in 2009 to $1.1 trillion by the end of 2017. Make no mistake, Maxine Waters was the big joke, and was laughed off Capitol Hill yesterday:
Gov. Mike Huckabee made sure Auntie Maxine knew everyone was laughing at her: “Too bad House inquisition by ‘Maximum Maxine’ Waters isn’t in prime time. She is most obvious example of someone who is in ‘WATERS’ over her head, revealing she knew nothing about student loans, banking, or finance. Thanks, Dems for putting forth your best foot–in the mouth!”
Too bad House inquisition by "Maximum Maxine" Waters isn't in prime time. She is most obvious example of someone who is in "WATERS" over her head, revealing she knew nothing about student loans, banking, or finance. Thanks, Dems for putting forth your best foot–in the mouth!
— Gov. Mike Huckabee (@GovMikeHuckabee) April 10, 2019
Fox News host Maria Bartiromo joined Gov. Huckabee, tweeting: “Today @RepMaxineWaters had no idea the government took over student loans. @jpmorgan CEO Jamie Dimon has to school her. #gotcha Qs She asks them how much $ they are lending to students. They left the biz after gov took over years ago.”
Today @RepMaxineWaters had no idea the government took over student loans. @jpmorgan ceo Jamie Dimon has to school her. #gotcha Qs She asks them how much $ they are lending to students. They left the biz after gov took over years ago. @MorningsMaria @FoxBusiness
— Maria Bartiromo (@MariaBartiromo) April 10, 2019
GOP strategist Paris Dennard also had a laugh at Maxine’s expense: “The next time Rep. Maxine Waters wants to play gotcha w/ CEOs like AOC I hope she gets her facts straight. If millennials were wondering what Congress was doing about #StudentLoans the answer is nothing since Waters thought banks still gave out loans!”
The next time Rep. Maxine Waters wants to play gotcha w/ CEOs like AOC I hope she gets her facts straight. If millennials were wondering what Congress was doing about #StudentLoans the answer is nothing since Waters thought banks still gave out loans! https://t.co/jJY8SJ0vrl
— PARIS (@PARISDENNARD) April 10, 2019
This is what happens when there are no term limits and you have a Democratic Party that has fooled many African-Americans in the ghetto that the only party looking out for them is the party of Auntie Maxine. She thinks she can fake it before she makes it, the only problem is she is 80-years-old and isn’t even trying to do her job right. Well, she better get used to being the laughing stock of Capitol Hill.