{"id":38186,"date":"2020-02-14T09:47:58","date_gmt":"2020-02-14T14:47:58","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=38186"},"modified":"2020-02-14T09:47:58","modified_gmt":"2020-02-14T14:47:58","slug":"here-we-go-again-2","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=38186","title":{"rendered":"Here We Go Again"},"content":{"rendered":"<p><a href=\"https:\/\/www.foxnews.com\/politics\/house-dems-push-legislation-adding-diversity-index-to-banks-key-financial-metrics?fbclid=IwAR0u-lMfXZVfyEBlerCQgB72t5SEo6ERZhr4TkH_cwYuDXVzIc6Mzf6X7kk\" target=\"_blank\" rel=\"noopener noreferrer\">Fox News<\/a> is reporting today the following:<\/p>\n<div id=\"ad-inread-1x1\" class=\"ad gpt ad-h-1\" data-ad-pos=\"inread\" data-ad-size=\"1x1\" data-google-query-id=\"CM_e0-Ki0ecCFQFThwodnXEFMg\" data-ad-slot-rendered=\"1\" data-rendered-size=\"1x1\">\n<div id=\"google_ads_iframe_\/4145\/fnc\/politics_1__container__\">\n<p style=\"padding-left: 40px;\"><strong>House Democrats are proposing that all banks and credit unions receive a new &#8220;diversity and inclusion&#8221; rating\u00a0in an unprecedented step that would fundamentally alter federal regulators&#8217;\u00a0critical &#8220;CAMELS&#8221; rating system that currently employs a series of metrics that solely assess the financial health of banking institutions.<\/strong><\/p>\n<p style=\"padding-left: 40px;\"><strong>The <a href=\"https:\/\/www.scribd.com\/document\/447003456\/CAMELS-Rating-Bill\">&#8220;Promoting Diversity and Inclusion in Banking Act of 2019&#8221;<\/a>\u00a0is draft legislation\u00a0<a href=\"https:\/\/financialservices.house.gov\/calendar\/eventsingle.aspx?EventID=406119\">supported by Democrats<\/a>\u00a0on the House Subcommittee on Diversity and Inclusion, which was created by\u00a0House Financial\u00a0Services Committee chairwoman Maxine Waters\u00a0Rep. Maxine Waters, D-Calif. Waters has long pushed for government-led diversity efforts, even as Republicans <a href=\"https:\/\/twitter.com\/CalebJHull\/status\/1115981791586922496\">have challenged<\/a> her knowledge of fundamental economic issues.<\/strong><\/p>\n<p style=\"padding-left: 40px;\"><strong>&#8220;We need to change it and we need to change it right away. The excuse that we can\u2019t find any, that\u2019s what I\u2019m hearing from some of you, that\u2019s not acceptable,&#8221; Rep. Al Green, D-Texas, said at a Wednesday hearing held by the subcommittee. &#8220;When you have power, you have to use it. We have the power. Regulations may be the thing to do. I think the carrot was a good idea, but after having heard some things today, I think we have to move to the stick, that\u2019s regulations.\u201d<\/strong><\/p>\n<p>The problem with this idea is that is overlooks the practical aspects of banking&#8211;the balance sheets and need for discretion when lending money. This bill represents the kind of thinking that brought us the housing bubble that exploded in 2008.<\/p>\n<p>The following video shows what happened the last time Congress interfered in the lending industry:<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/1RZVw3no2A4\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>If this is the sort of legislation the Democrats pursue when they control the House of Representatives, we need to vote them out of power before they destroy the economy again.<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Fox News is reporting today the following: House Democrats are proposing that all banks and credit unions receive a new &#8220;diversity and inclusion&#8221; rating\u00a0in an unprecedented step that would fundamentally alter federal regulators&#8217;\u00a0critical &#8220;CAMELS&#8221; rating system that currently employs a &hellip; <a href=\"https:\/\/www.rightwinggranny.com\/?p=38186\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[735,853,3428,2523,3901,451,7474,5708,299],"class_list":["post-38186","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-congress","tag-democrats","tag-economy","tag-fox-news","tag-foxnews-com","tag-house-of-representatives","tag-housing-bubble","tag-maxine-waters","tag-regulation"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/38186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=38186"}],"version-history":[{"count":2,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/38186\/revisions"}],"predecessor-version":[{"id":38188,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/38186\/revisions\/38188"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}