Waters 16

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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