WeLoveTrump.com may receive compensation from affiliate partners for some links on the site. Read our full Disclosure here.

Maxine Waters Exposes Her Ignorance While Trying to Grill Bankers Over Student Loans


19 views

THIS ARTICLE STOLEN FROM WELOVETRUMP.COM. Your IP address has been recorded and a DMCA claim has been filed based on your actions. You should immediately cease and desist copying articles from WeLoveTrump.com

Maxine Waters continues to remind us that Alexandria Ocasio-Cortez still isn’t quite the dimmest bulb in Congress.

In an attempt to blast the “big banks” for the nation’s looming student debt crisis, Waters forgot that the majority of student loans now come from the federal government, not private firms. “Today, there are more than 44 million Americans that owe … $1.56 trillion in student loan debt. Last year, 1 million student loan borrowers defaulted which is on top of the 1 million borrowers who defaulted the year before,” Waters opened.

Then she turned to the banking executives before her, directly asking  “What are you guys doing to help us with the student loan debt? Who would like to answer first? Mr. Monihan? Big bank?”

As the Washington Times reported:

680689130654 THIS ARTICLE STOLEN FROM WELOVETRUMP.COM. 331338275985 Your IP address has been recorded and a DMCA claim has been filed based on your actions. 791541136380 You should immediately cease and desist copying articles from WeLoveTrump.com 712941021104

Bank of America chairman and CEO Brian Monahan replied, “We stopped making student loans in 2007 or so.”

Ms. Waters replied, “Oh, so you don’t do it anymore. Mr. Corbat?”

Said Citigroup CEO Michael Corbat: “We exited student lending in 2009.”

She then turned to James Dimon, JPMorgan Chase chairman and CEO, who explained, “When the government took over student lending in 2010 or so, we stopped doing all student lending.”

Waters ought to know, given that she is on the committee that oversees federal student loans.

https://twitter.com/chuckwoolery/status/1116021197299433478

It’s hardly surprising that private banks would get out of the student loan business when the government got involved because it’s impossible to compete with the government’s subsidized (or below market) interest rates.

324093991552 THIS ARTICLE STOLEN FROM WELOVETRUMP.COM. 741155314598 Your IP address has been recorded and a DMCA claim has been filed based on your actions. 240164883263 You should immediately cease and desist copying articles from WeLoveTrump.com 599466908257

Just take a look for yourselves on the explosion in federal student loans outstanding:

Is it really a surprise that when anyone can borrow tens of thousands of dollars from the federal government, colleges can endlessly raise tuition as they please?

266847067424 THIS ARTICLE STOLEN FROM WELOVETRUMP.COM. 508479083225 Your IP address has been recorded and a DMCA claim has been filed based on your actions. 87000339727 You should immediately cease and desist copying articles from WeLoveTrump.com 180129497257

SUPPORT THIS MAN IN 2020!

Our gift to you!

Please limit one per person.

Check availability here.

Free-MAGA-hat-1.png

697366436509 THIS ARTICLE STOLEN FROM WELOVETRUMP.COM. 87709520052 Your IP address has been recorded and a DMCA claim has been filed based on your actions. 975881564669 You should immediately cease and desist copying articles from WeLoveTrump.com 95136867817



Do NOT follow this link or you will be banned from the site!
Thanks for sharing!
Send this to a friend