Rep. Maxine Waters (D-Calif.) tried to grill a group of CEOs of large banks during a House Financial Services Committee hearing, but ended up exposing a significant gap in her knowledge.
Waters cited the numbers showing sharp increases in student loan debt over the years, which in many cases has become truly unmanageable for the borrowers. She asked them what they planned to do about the problem.
“Who would like to answer first? Mr. Monahan, big bank?” Waters said to Bank of America CEO.
“We stopped making student loans in 2007 or so,” BoA CEO Brian Monahan replied. – READ MORE