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Pssst! Maxine Waters (D, CA)!

By: Moe Lane (Diary)  |  September 5th, 2011 at 10:45 AM  | 

RESIZE: AAA

Just thought I’d let you know: about this?

The CBC is trying to help by organizing job fairs across the country. [Congresswoman] Waters also wants to help by putting more pressure on the big banks to help with mortgages.

“If they don’t come up with loan modifications and keep people in their homes that they’ve worked so hard for, we’re going to tax them out of business,” Waters said.

Hate to break it to you, but you know those elections that we had last November? You know, the ones that led to a sudden glut of Democratic staffers on the DC job market? Funny thing about that, but one of the reasons why the Republicans…

You know. The Good Guys.

…did so well in said elections is because our politicians ran on a platform that more or less explicitly promised that if they were elected then Maxine Waters would be allowed to tax precisely two things: jack, and [expletive deleted].

No, really. It was almost a bumper sticker.

Via TaxProf, via Instapundit.

Moe Lane (crosspost)

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COMMENTS

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  • bobojake

    NT

  • http://908StraightSt.wordpress.com/ mbecker908

    idiot, she’ll be getting reelected overwhelmingly long after she’s dead and gone.

  • Adjoran

    of her corrupt practices (illegally lobbying for bailout money for the bank she and her husband hold a major stake in, even though it did not qualify under the program’s lax standards)? Oh well, it is just the House Under-Rug Sweeping Committee, I mean Ethics Committee.

  • dmacleo

    can’t that be considered a form of extortion?
    or is it ok for CBC members to say it….

  • Menlo

    Will she do that before or after socializing the oil industry?

    Either her district has the attention span of a flea, or they are as delusional as she is.

  • whiskeyjim

    First, we regulate banks through the GSE’s the mortgage market in general to frame mortgages beyond economical jurisprudence.

    Then the banks fly up their own a$$****s and think they have dissipated all market risk with CDOs and MBS, even while they trade them in an incestuous manner that only big banks can do.

    Then we bail them out, preventing trillions in debt from being repriced and underwriting some of the richest people on the planet with taxpayer money, which of course causes stagnation, since who can trust anyone’s balance sheet or write a business plan when real estate’s value is artificially frozen.

    Then Maxine Waters, in the very think of the whole story from the very beginning, especially the fiasco of the GSEs, says we’re going to tax the banks out of existence.

    You couldn’t write a more nasty and illogically silly story. I’m not even sure what the moral of the story is, other than some pale and frightening surreal example of the irrationality of big government and democracy gone horribly and meaninglessly wrong. There is no good guys and bad guys. There is just plaintive stupidity, catering to perceived past wrongs and narratives with externalities far afield from any purposeful reality.

  • http://www4.webng.com/rickbull/lostlucky/ rickbull

    .nt.

  • http://www4.webng.com/rickbull/lostlucky/ rickbull

    she demonstrates what a complete, blithering idiot she is. If she actually tried to follow through with it, she’d be shown the door.

    And nevermind the fact that she is owned lock, stock and barrel by the very banks she is threatening. It’s hard to campaign for office when you have no campaign contributions coming in.

    “Talk is cheap — except when Congress does it.” Mark Twain

  • http://www4.webng.com/rickbull/lostlucky/ rickbull

    are certifiable idiots, as well. Makes you wonder if there’s something in the water, doesn’t it?

  • lastgopinillinois

    WhiskeyJims comment, but heres my take on the banks.
    Jimmy Carter, 1977 CRA
    bill Clinton re-writes CRA rules, gives to DOJ for enforcement.
    DOJ forces banks into irresponsible lending quotas for minorities, holds their mergers and acquisitions hostage and files multi-million dollar lawsuits agains banks for not meeting quotas under false “discrimination” pretenses. Banks create derivatives to recoup some of their losses.
    Some idiots on WallStreet gamble on those derivatives.
    Bad loans fail. Forclosures ensue. Housing industry goes bust. Banks loaded down with toxic assets. Govt borrows money to bailout banks.
    So NOW Maxine Waters wants to TAX THEM OUT OF BUSINESS?
    Dont you realize that you have ALREADY done so?
    Oh, I forgot, Its just another soundbite to get ignorant people riled up against the banks again. Its the banks fault, Its Bush’s Fault, Its the Republicans fault. Yeah, we know.

  • renny

    While the CRAs’ were forcing banks to carry 10% recognized bad debts as proof that they were not discriminatory (as if companies can deliberately go into bad debts and expect to survive), Fannie (mort. for the poor, 1968, Johnson) and Freddie (mortgages to save farms, 1938, FDR) were being both pushed and coddled by Barney Frank in the House and Chris Dodd in the Senate into buying and defending (using tax payers’ monies’ backing) greater and greater portfolios of WORTHLESS subprime mortgages generated by regular banks and then dumped on F&F because they had no value and would never be repaid.

    McCain and Bush in 2003 and 2005 took up the question of restructuring both mort. giants and were famously rebuffed by Frank who said he saw no problems, and wanted to “double down” on the mort. disaster. And Frank-Dodd does not address the question at all.

    Almost 90% of renegogiated mort. and loans under little o’s attempt to keep housing from tanking further have defaulted again or have not paid anything on their mort. debt for 6 mons. It was an act of futility.

    In consequence of this vast stupidity generated mostly by the left and Dems., my own house has lost 50% of its value since 2005.

    AND, the DOJ just sent out more letters threatening banks and financials for not giving more bad loans to bums, crooks, frauds (the Sopranos had a whole subplot on the issue), and truly indigent bad credit risks or risk lawsuits. So, the left is just setting up the banks for 2008 all over again.

  • http://908StraightSt.wordpress.com/ mbecker908

    a long time ago.

  • fotophun

    why don’t we start with your husband’s bank

    Maxine you have forgotten history
    the tactics of the left of which you belong
    have put pressure on the banks before
    and look where that got us
    you need to be voted out of office
    the likes of you have helped kill this wonderful country