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Well, lucky us. She is still here, demonstrating more such logic and prescience by insisting that prioritizing race over creditworthiness had nothing to do with the avalanche of foreclosures that panicked the banking system in 2008 and threw the economy into a tailspin. Such myopia would explain why she thinks imposing more racial quotas will save a system brought to its knees by racial quotas.
Waters explained in a July 1 press release:
“I wrote this legislation to make sure that federal financial regulatory agencies ensure diversity in their hiring and promotion, as well as in their contracting, so that competent and qualified minorities and women and minority-, women- and small-businesses have a seat at the table.”
If she keeps poisoning the economy this way, there won’t be any seats. There won’t even be any table. And there will be no need for quotas, because the only discrimination from the economic misery she will visit upon all Americans with her incompetence will be for her and other Washington elites like Dodd and Frank.
… It effectively puts affirmative action into every financial transaction and gives the government a huge opening for interfering with economic growth on the basis of bureaucratic whims. Anyone who has dealt with an EEOC issue will understand the arbitrary interventions this will create — and the damage it will do when every contract and trade can get suspended based on a complaint or even suspicion of violation.
Anyone interested in system stability would have struck these requirements the moment they first appeared. This is a disaster in the making, and yet another indication that Democrats want to exploit the financial collapse for their goals in social engineering.
And why not, when it has worked so well in the past? They will continue to run our lives in comfy Washington as long as they can buy themselves votes with our grandchildren’s money.
That will go on until their constituents wise up.
