Fox guest is outraged that Maxine Waters wants to conduct oversight of banking industry: "It's really almost like crazy town"
Jonathan Hoenig: "It's almost like socialism and regulators run wild now"
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From the January 25 edition of Fox Business' Varney & Co.:
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STUART VARNEY (HOST): Democrat Congresswoman Maxine Waters taking on the big banks. She wants the six biggest bankers, the leaders of the biggest banks, she wants them to be grilled on Capitol Hill. Now, Jonathan, is this just political theater? Or could she actually do damage to the banks?
JONATHAN HOENIG (CAPITALIST PIG HEDGE FUND): Yeah, she's already doing damage. I mean, this is the big risk for technology, certainly for financial services. I'm not worried about the economy, Stuart, I really am worried about government, because it's almost like socialism and regulators run wild now. There's almost a sense of carte blanche. And the fact that Maxine Waters, people who are openly hostile to these industries where they have tremendous control, it's really almost like crazy town, and I have to think it's so much of a reason why so many of these bank stocks were absolutely annihilated in 2018. As long as Maxine Waters is regulating them, I don't see how they get out of a hole.