Maxine Waters’ “Diversity Committee” May Pressure Banks Into Making Bad Loans

Townhall | 2/7/2019 | Staff
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Rep. Maxine Waters, D-Calif., has a habit of redoubling her efforts when her ideas fail. That’s especially true given that she now chairs the House Financial Services Committee. One of her top priorities is bullying banks into boosting mortgage lending to marginally qualified borrowers based on race or ethnicity. And her main vehicle for that now is a proposed subcommittee on diversity and inclusion. In a prepared statement on January 30, she declared, “I am proud to say that this will be the first Subcommittee of its kind in Congress.”

Way - Outcome - Conclusion - Meltdown - Decade

One hopes it will be the last. For if she gets her way, the outcome, taken to its logical conclusion, may be a financial meltdown rivaling the one a decade ago.

When it comes to dysfunction on Capitol Hill, Maxine Waters lives it. In her nearly 30 years in the House of Representatives, she has displayed a clear pattern of demagoguery and self-dealing. Only weeks after President Donald Trump’s inauguration, she already was calling for his impeachment. Despite having no evidence of his misuse of office, she has not let up. Last June, she egged on young adults to surround and harass Trump administration officials spotted in public places. At least three times she has been cited by Citizens for Responsibility and Ethics in Washington (CREW) in the group’s annual list of the most corrupt members of Congress.

Maxine - Waters - Culture - Opportunities - Elections

In short, Maxine Waters is emblematic of what’s wrong with our political culture. But now she’s got new opportunities. The midterm elections of last November restored the Democratic majority in the House lost eight years earlier. The changing of the guard gave Maxine Waters the chairmanship of the House Financial Services Committee. It’s her home base. She has served as ranking member or chairman of one subcommittee or another under its jurisdiction...
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