WATCH: Maxine Waters Humiliates Herself As She Tries To Pin Student Loan Debt Crisis on Bank Chiefs

By Elizabeth Vaughn | 6:16 AM on April 12, 2019

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House Financial Services Committee ranking member Rep. Maxine Waters, D-Calif., asks a question of Housing and Urban Development Secretary Ben Carson, during a hearing Wednesday, June 27, 2018, on Capitol Hill in Washington. (AP Photo/Jacquelyn Martin)

These are heady days for House Financial Services Committee Chair Maxine Waters.

It’s pretty clear that she loves her new job. But she really ought to study up on the industry her committee oversees so she doesn’t embarrass herself again as she did on Wednesday when she questioned a group of bank CEOs about the student loan crisis.

The amusing exchange can be watched in the video below.

Waters: Today, there are more than 44 million Americans that owe $1.56 trillion in student loan debt. Last year, more than one million student loan borrowers defaulted which is on top of the one million borrowers who defaulted the year before. What are you guys doing to help us with the student loan debt?

Who would like to answer first? Mr. Monahan, big bank?

Bank of America CEO Brian Monahan: We stopped making student loans in 2007 or so.

Waters: Mr. Corbat?

Citigroup CEO Michael Corbat: We exited student lending in 2009.

Waters: Mr. Dimon?

J.P. Morgan CEO Jamie Dimon: When the government took over student lending in 2010 or so, we stopped doing all student lending.

Reminiscent of Gilda Radner’s portrayal of consumer affairs reporter Roseanne Roseannadanna from the early days of Saturday Night Live, Waters realized this was something the head of the House Financial Services Committee should have known and immediately launched a new topic.