The freshman congresswoman from New York is getting ridiculed by much of the right and even a fair number of reporters for this line of questioning this week in Congress.
She wanted Wells Fargo to take responsibility for the actions of various businesses that had borrowed from the bank. Many suggested it showed her ignorance of finance or was dumb.
This is not dumb. It is not ignorant. It is dangerous.
The reality is that Bolshevik Barbie already knows this. She already knew what the answers were going to be. She was moving on to the next question before the Wells Fargo CEO could even answer.
What she is doing is building a basis for Marxist economics.
In a capitalist structure, businesses and individuals engage in arms length transactions. If one of the two parties, after the transaction, does something wrong it is not the other party’s problem. The victim of a drunk driving incident does not get to sue GM because the drunk drove a Yukon. They do not get to sue the bank that financed the car the drunk drove. In the same way, the victim of a shooting does not get to sue the gun manufacturer and does not get to sue the bank that provided the funds for the gun manufacturer to make the gun.
In a Marxist system, everyone is in the struggle together. So the bank cannot just decide the deal it is entering is financially sound. It must also decide if the deal is morally sound. That moral judgment is based on the mob, or the collective. If we are all affected by gun violence or drunk driving or climate change, then for the bank to finance transactions related thereto, the bank can be held responsible because it has increased the struggle of the collective.
Ocasio-Cortez does not care that you think her questions are dumb. She’s taking that video and using it to show how Wells Fargo doesn’t consider itself morally culpable for the money it lends. She will use that to help raise up an army of social justice warriors to get banks to pledge to refrain from lending to projects the collective opposes. She is putting other financial institutions on notice that she will use her position as a member of Congress to out them to the shame crowd.
That will impact a host of businesses from oil companies to gun manufacturers. She wants to undermine arms length transactions by assuring banks that their contracts will not be private and, by publicly exposing them, the mob can come for them.