Shocking Admission by Foreclosure Bill Sponsor
Would it be too much to ask that Representatives in Congress understand the industries that they oversee?
In a surprisingly candid statement, Rep. Maxine Waters (D-CA) admitted, American Housing Rescue and Foreclosure Prevention Act.
“Like many, I had not previously understood the critical role mortgage servicers play in the modern mortgage markets, where few loans remain with the financial institution that made them.”
It would be one thing if she were a freshman legislator who was arbitrarily assigned to a committee.
But that’s not the case. She’a actually chairwoman of the House Financial Services Subcommittee on Housing and Community Opportunity.
She was one of the key pushers for the American
Her statement was akin to shouting “Touchdown!” at a baseball game.
I realize that most people don’t understand the role of mortgage servicers, but this extreme level of ignorance is completely unacceptable when this person’s actions impact an entire industry that touches the lives of most Americans.
I’ve noted her similar blind spots in other posts.
It’s clear to me that nobody’s paying attention to a thing that these people say, much less holding them accountable for their actions.
With an approval rating in the teens, it’s clear that most Americans understand that we have a leadership problem in Congress.
It’s impossible to know if she’s willfully ignorant or extremely stupid.
Either way, she has absolutely no business sponsoring legislation, or chairing a committee on an industry she hasn’t even taken the time to understand.
I believe it’s called “dereliction of duty.”
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