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Epic ignorance: Bankers had to remind Maxine Waters her hero OBAMA is responsible for massive student loan debt (Video)

By Jon Dougherty

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.

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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.

Waters, however, seems to believe she is beyond even that very minimal standard.

It was obvious she was clueless. And here’s what else she likely didn’t know (or care to know). According to analysis from Investors.com, Obama’s decision to require the federal government take over student lending added over $1 trillion to the total U.S. student loan burden, largely, again, because there were so few hard-and-fast requirements to doling out the money.

Once colleges and universities became aware that Obama had turned on a money spigot specifically for them, what do you think they did? They began raising tuition rates, of course, then using the flood of money to build billions of dollars’ worth of new facilities and other add-ons and accessories that look awfully nice but don’t really contribute much to educating students.

Anyway, here’s Mad Maxine and her epic fail:

Watch:

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Mousey
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Mousey

Maxine Waters is a complete fool.

Mario Ruffino
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Mario Ruffino

You think Maxine didn’t know about the Student Loans, of course she did’t know for she’s a freaking idiot. Waters is so crooked that when she dies they will have to screw her into her grave.She is nothing but a big mouth trouble maker who because of Political Correction remains in office. If she was a Republican the Democrats would have 100 investigators looking for evidence to have her impeached.

Left Coast
Guest
Left Coast

Mad Maxine is terminally Stupid . . . low IQ & incompetent !

Show me from Missouri
Guest
Show me from Missouri

Washington is a spin factory.
The spin is that the big banks are responsible for all the problems people have, and that socialism will solve the problem by redistributing their assets to people with loan debt and free tuition for students.

Seth
Guest
Seth

Arrogant, feminist POS, plain and simple.

pouncekitty
Guest
pouncekitty

Breathtaking stupidity! Maxie-Pad Waters is a disgrace to humanity.

marty lopez
Guest

And don’t forget, she’s wearing Jackson Brown’s wig

Twenty Squared
Guest

All these negative comments, while true, just show the extent of racism and sexism in the U.S.

SweetOlBob
Guest
SweetOlBob

‘She rode to office on the residual hate left by riots. She stayed there by festering the same hatred in her speeches. She does nothing to help her district climb out of the racist hole it still is in ! And she survives to enrich herself by shouting RAAAAAAAAAACIST ! at every opportunity !

oldfatass biker
Guest
oldfatass biker

i like maxine especially when you can here nothng but crickets

VioletB
Guest
VioletB

Article is correct that, unlike banks, there were few requirements linked to doling out money, which went directly to students rather than the institution. A survey showed that students admitted not only using loan money for tuition, but also for clothes, restaurants, spring break travel, pizza parties, drugs/alcohol, and car payments. No wonder the loan amounts mounted so high.

you can't make this stuff up
Guest
you can't make this stuff up

“All these negative comments, while true, just show the extent of racism and sexism in the U.S.” yup always thought pointing out the obvious made one a white national sexist racist homophobe climate denying (whatever else) pos.

Mensa Graham
Guest
Mensa Graham

She is a gift that keeps on giving. Be grateful that the dems have her.

Oliver W Homey
Guest
Oliver W Homey

This bag of wind is dumber than dirt. There is an old saying that says it is better to remain silent and appear stupid than to open your mouth and remove all doubt. she is about as smart as my dog. You would think dems would be embarrassed by her and since they are not, what does that tell you about them.

wootuser
Guest

Now that was funny.
She voted for the nationalizing of the student loans and now she ask the very banks she screwed over what are they doing about the problem she helped create.
– priceless.
She was fishing for another Trump scandal then quickly bowed out because she just realized it was her that FKD over the students.

yo mama
Guest
yo mama

Let that shiitskin ignorance shine!

Dave Hardesty
Guest
Dave Hardesty

“It quickly became apparent that Waters had no clue what she was talking about”
Now honestly, does she ever know what she’s talking about? Say, is AOC genetically related to her?

john
Guest
john

This is your typical DEM IN OFFICE AT WORK, Waters has a big mouth a a big chip on her shoulder to go after anything she does not understand, as she needs to be learned first. With this attitude and challenge she needs to be removed from being head of anything. She wanted to know what banker were doing so she could get her hands in it, shes looking for more easy money. Now the bankers know what kind of sap she is willing to lay into bankers and then say i’ll be easy if you donate for the cause.

john
Guest
john

Waters has turned in an AOC WHO EMPHATICALLY KNOWS, NO NEED FOR THINKING OR DOING RESEARCH ON THE ISSUE. Call them to the bench and pounce, I have the gavel so may of these DIMMS do it. Their head blunt power shows.

john
Guest
john

Waters has turned in an AOC WHO EMPHATICALLY KNOWS, NO NEED FOR THINKING OR DOING RESEARCH ON THE ISSUE. Call them to the bench and pounce, I have the gavel so many of these DIMMS do it. Their head blunt power shows.

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