Not content with introducing racial quotas into many aspects of American life such as education, politics, and media, now Democrats want to make banks take into account “diversity” when they are judged by federal bank regulators.
Sure, the bank may be going under, maybe the top echelon of management is skimming. But if it has the right PC gender and racial makeup in the boardroom and God knows where else, why then, they’re good as gold, shipshape and Bristol fashion.
It’ll never get into law given the GOP Senate and the president. Even many Democrats see it as lunacy. But that doesn’t stop Rep. Maxine Waters of CA. Oh no, lunacy is her stock and trade.
She supports the “Promoting Diversity and Inclusion Act of 2019.” Federal bank regulators judge banks by a system known as “CAMELS.” It’s an acronym for capital, assets, management, earnings, liquidity, and sensitivity to risk. Waters wants to add racial and gender quotas to the list.
Yeah, it’s crazy.
And isn’t toying with the natural conditions of finance, like giving cheap home loans to people who wouldn’t usually qualify for them, the kind of thing that brought on the financial crisis of 2008?
Oh sure, the bank has about as much financial credibility as a wet sock. But hey! All is copacetic because the morons who have been running the joint are really really diverse!
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Why is it only racial and gender quotas that the left seeks? Why are there no lower middle class workers on the board of Comcast? Why no pro-life conservatives at the top station of Planned Parenthood? I mean, if you really want diversity.
And why do the racial and gender quotas only cut one way? Where are all the NBA players of German heritage, since Americans of that ilk make up a significant portion of the population? I must have missed all the men running the Big Sisters organization. No, trans guys don’t count.
All the lawsuits, marches, news specials, and Hollywood blockbusters advocating for more Norwegians in the Congressional Black Caucus must still be on the drawing board.
They have about as much chance to see the light of reality as does this latest idiocy from Maxine Waters. We can be thankful for both those results, as the CBC folks I know would totally not be into sardines.