Congresswoman Maxine Waters (D-CA), who has been a member of the House Financial Services Committee since 1991, was named chair of the committee in December. But a recent clip of Ms. Waters showcasing her ignorance with regard to student loans might make one question whether she is qualified for such a leadership position.
On Wednesday, the Democrat grilled the CEOs of various big banks about what they are doing to help with the student loan debt crisis. In an embarrassing exchange for Waters, the CEOs, one by one, informed the congresswoman that the Obama administration had actually "cut out the middle man" in 2010 so that the federal government now directly issues such loans, as noted by The Blaze.
In other words: Banks aren’t issuing federally guaranteed loans anymore, and haven’t been doing so for nearly a decade. This was clearly news to Ms. Waters on Wednesday — not exactly comforting.
After the Democrat grilled the bank CEOs about — you guessed it — Russia, she inquired: "What are you guys doing to help us with the student loan debt?"
"Who would like to answer first? Mr. [Brian] Monahan, big bank?" Waters asked.
Monahan, the CEO of Bank of America, answered, "We stopped making student loans in 2007 or so."
Waters then moved on to Citigroup CEO Michael Corbat, who replied, "We exited student lending in 2009."
Undeterred, the California Democrat asked JPMorganChase CEO Jamie Dimon the same question. "When the government took over student lending in 2010 or so, we stopped doing all student lending," Dimon explained.
The lightbulb finally turned on for Waters, and she moved on to her next question.
Waters’ embarrassing behavior also manifested in another exchange on Wednesday, when the chair refused to formally dismiss Treasury Secretary Steven Mnuchin from a hearing in which he had been testifying for over three and a half hours so that he could attend an important meeting with a foreign official. Ms. Waters acknowledged that she knew about the meeting in advance, but she was still obstinate and uncooperative.
"I’ve sat here for over three hours and 15 minutes. I’ve told you I’ll come back. I just don’t believe we’re sitting here negotiating when I come back. We’ll follow up with your office. How long would you like me to come back for next time? I told you I would accommodate you," protested Secretary Mnuchin to Waters.
"This is a new way. And it's a new day. And it's a new chair. And I have the gavel at this point. If you wish to leave you may," she responded.
"Can you clarify that for me?" the secretary asked.
"Yes, 'clarify' is this: If you wish to leave, you may," Waters repeated.
"So, we’re dismissed? Is that correct?" Mnuchin again asked.
"If you wish to leave, you may leave," a defiant Waters said again.
Mnuchin ended up leaving the hearing without Mr. Waters’ formal dismissal and clarified that he would not be coming back for further questioning on the issue, due to his treatment.
Waters, who was once named one of the most corrupt members in Congress by an ethics committee, has become a #Resistance hero for her incessant calls to impeach President Donald Trump. She is affectionally referred to by some on the Left as "Auntie Maxine."
WATCH (relevant comments begin at the four-minute mark):