But seriously, folks

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I sat here in front of my television and laughed at Maxine Waters, because her apparently random ramblings are a true spectacle.  One laughs because one can't cry.  But this woman is sitting on the House Financial Services Committee.  She is supposed to help craft the bills that govern our financial system.  And she clearly doesn't have the first shred of an inkling of a clue of how said financial system works.  Her questions had the air of someone who couldn't quite wrap her mind around the complexities of the E-Z Reader consumer activist pamphlets from which she had presumably cribbed them.

That's not really funny.  This is the crack talent that's supposed to reform the banking system into something more robust?  Imagine how you'd feel if any of the folks who didn't seem to grasp the distinction between Bank of America and State Street showed up to represent you at your closing.  Save everyone a lot of time and aggravation, and declare bankruptcy on the spot, hmmm?

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Megan McArdle is a columnist at Bloomberg View and a former senior editor at The Atlantic. Her new book is The Up Side of Down.

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