Last month an elected representative publicly stated that revenge is a part of her motivation and agenda when Representative Maxine Waters (D-CA) told a constituent gathering in Los Angeles that she is “going to do to you what you did to us.” The “you” Waters was referring to are players in the mortgage and banking industry. The odd twist here is that Waters is planning revenge on institutions for doing what she herself instructed them to do.
Waters, who was easily re-elected in the 2018 midterms with nearly 76% of votes cast, represents California’s 43rd congressional district which includes much of south-central Los Angeles. She appears poised to chair the House Financial Services Committee when Democrats assume control of the House of Representatives in January.
A sitting House representative threatening U.S. businesses with retribution is remarkable enough, but retribution for what?
Apart from the dismissal of personal responsibility inherent in the idea that people were somehow forced into purchasing something they couldn’t afford, of note here is how the situation came about in the first place; how citizens of Waters’ community found themselves able to qualify for mortgages that were beyond their financial means. Making such loans is not in a lending institution’s best interests, so why would one do it? The institutions did it because Maxine Waters, among others, forced them to.