New Chair of the House Financial Services Committee and California Democrat Maxine Waters has very specific plans for her newfound power, and those plans include going after “Wall Street banks.”
While speaking at the Center for American Progress Action Fund in Washington on Wednesday the committee chair said, “The crisis was a result of Wall Street running amok,” Waters said, in reference to the 2008 financial crisis. “Large Wall Street banks are not subject to anybody and do great damage to our economy,” Fox News reported.
Waters has made no secret of her disdain for President Donald Trump and all things related to his administration. The presidential critic will now have more power to weigh investigate many financial industry policies.
“I don’t want to be the next financial institution to mess up,” Isaac Boltansky, a Washington policy analyst for the investment firm Compass Point Research & Trading, said, according to Fox.. “We will have big bank CEOs raising their right hand a lot more.”
“The CEOs of the banks now are saying, ‘What can we do to stop Maxine Waters because if she gets in she’s going to give us a bad time?’” Waters said during a speech in Los Angeles last November.
“I have not forgotten that you undermined our communities. I have not forgotten that you sold us those exotic products, had us sign on the dotted line for junk.”
Waters added: “What I am going to do to you is fair. I’m going to do to you what you did to us.”
Along with Waters, the committee will be graced with liberal darling Alexandria Ocasio-Cortez who has already made her own intentions known, who plans to put pressure on not only banks, but Immigration and Customs Enforcement in her newfound role.
Ocasio-Cortez announced her appointment on Twitter, sharing with her followers the gravity of the position that she was given.
“Financial Services is one of just four exclusive committees in the House. It oversees big banks, lending, & the financial sector,” Ocasio-Cortez tweeted late Tuesday.
“I am very grateful for the opportunity to sit on this committee as a freshman, and look forward to working under the leadership of @RepMaxineWaters!
“Financial Services is one of just four exclusive committees in the House. It oversees big banks, lending, & the financial sector.”
She added in a second tweet: “Personally, I’m looking forward to digging into the student loan crisis, examining for-profit prisons/ICE detention, and exploring the development of public & postal banking. To start.”
Personally, I’m looking forward to digging into the student loan crisis, examining for-profit prisons/ICE detention, and exploring the development of public & postal banking. To start. 🙂
— Alexandria Ocasio-Cortez (@AOC) January 16, 2019