On Fox Business, Ben Stein calls Maxine Waters' criticism of Wall Street “a racist threat”
Stein: “There's no evidence that banks have been particularly bad to African-Americans”
From the November 2 edition of Fox Business' The Evening Edit:
ELIZABETH MACONALD (HOST): Well, that's Democratic Congresswoman Maxine Waters promising government by retribution, if Democrats take back the House and she becomes chair of the influential House Financial Services Committee.
What do you make of Maxine Waters' threat here?
BEN STEIN (ECONOMIST): I make of it the fact that it's a racist threat, it shocks me that she would bring up this fact that she's African-American. What on earth does that have to do with the price of tea in China? What on earth does that have to do with regulation of Wall Street or banks or of insurance companies?
MACDONALD: Why is it racist? Why is it racist?
STEIN: Well, because what does it have to do -- why did she bring up race at all? What does race have to do with regulation of a financial services company? They should be regulated according to law, according to the law as passed by Congress, according to the law as regulated by the federal government. It has nothing to do with race. What she's saying is “I'm going to get back at you because I think you banks have been bad to African-Americans, I'm going to get back at you.” But there's no evidence that banks have been particularly bad to African-Americans, and even if they were, it's not up to her to right the scales. It's up to Congress, to make those kinds of laws. It's not up to her. She's not the boss. She's not the Führer.
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