What, you don't think we need more czars?
Politics as usual. Democrats snuck it in, and Republicans apparently didn't read it, or we would have heard about it sooner. The good news is it's coming out, and won't be in the final version of the bill. Waters' defense of it is almost comical, ""Nothing in the bill mandates lending to minorities or women," she wrote, denying charges that the provision would politicize the Fed or allocate credit by race and gender. "The provision does not even mention lending. The offices will only be responsible for employment, management and business activities of the agencies."
"Business activities of the agencies." Wouldn't lending be one of those, at least for some agencies?