On April 11, 2019, The Blaze reported that Maxine Waters, the new Chair of the House Financial Services Committee, attempted to corner and embarrass several banking CEOs who were called before her committee, by asking them what they were doing to help students pay for the enormous debts they posses after completing four years of college. She was, of course, making the unspecified charge that they were just big-businesses making profits off of the backs of innocent students by lending them tuition money at a confiscatory rate of interest.
Not only was this stupid woman trying to blame these private business owners for the punitive loans to which private citizens too frequently voluntarily commit themselves, but her own government was responsible for forcing a situation in which only one monopolistic lender was permitted to make these loans, and that sole lender was her own government, and she had no idea this concentration of power had happened during the Obama administration.
But this idiot woman, after learning that the loans she so hates were given by her own government, didn’t have the courage, the presence of mind nor the intelligence to call the directors of the big-government student loan agencies and ask how they planned help the indebted students, because, in the minds of radical Democrats like Ms. Watrers, the government never hurts people, only private corporations hurt people. So this entire line of questioning was quickly dropped due to a lack of interest by the House Committee and its lame-brained chairwoman.
Big government attempts to give the impression that they care for the rights and treatment of citizens whenever private corporations, seeking to make a profit, are the culprits. But when it’s the government itself causing a citizen discomfort, all attention to the issue seems to evaporate.
As is typical of Democrats like Maxine Waters, her committee hearing was conducted not to solve a problem and help students avoid deep debt when they graduate from college, it was rather to punish some non-Socialist American banking companies and threaten them with harsh regulations if they would not agree to lower their fees and provide student loans for a lower price. But having been shown to be a fool and not knowing the subject that she is charged with responsibility for, Ms. Waters allowed the subject to be dropped and nothing was resolved by her questions nor by the banking CEO’s waste of time and effort after being ordered to report to her hearing.
Ms. Waters, in her waste-time grilling of the bankers, could have mentioned at least three things that could help students graduate with less debt: 1) The government should get out of the business of being a monopoly in the student loan business and allow private companies to introduce competition and lower costs into the industry. The enormous levels of debt that college students graduate with has largely occurred since Barack Obama single-handedly took monopolistic of the entire industry, and having the government back out of the loan industry could perhaps allow students to accumulate less debt. 2) Colleges should be challenged to be more competitive with their tuition charges and should be encouraged to cut their costs so they could charge students less to attend college. 3) Colleges should be challenged to underwrite all or part of the costs of their tuition so students don’t have to go bankrupt just to get through college. Many colleges and universities have billions of dollars of money stashed away and it’s shameful that they don’t share their wealth with students, in line with the socialist, anti-Capitalist principles their professors preach to their students.
The pity is that Ms. Waters makes a fool of herself every time she opens her mouth and she’s not smart enough to know it.