Democrats just elected Maxine Waters to the top Democratic spot on the House Financial Services committee.
This is really an extraordinary development. “Flabbergasting” might be a more apt word. Leave aside the recent ethics investigation over whether she used her position on the committee to help a bank her husband was involved with (which ended with her chief of staff getting reprimanded). Maxine Waters reliably delivers the craziest questions and the most bizarre speeches on that committee, and tends to demonstrate a stunning lack of grasp of the committee’s core subject matter.
McArdle has some stuff. Maxine has also been a favorite target here at RTFLC. Check out our previous coverage here, here, here and here. My all-time favorite was when she threatened to nationalize the oil companies over high oil prices, displaying a stunning ignorance of markets, the oil industry, history, economics, American law, the Constitution, business and the laws of physics, which are defied by the failure of her skull to implode. Water isn’t just an ignorant liberal. She’s specifically and spectacularly ignorant about the matters her committee deals with. This would be like appointing a creationist to head a … oh.
In case you were wondering how serious the Democrats are about governing, this is a good look at how things would work if they had the majority.