Once again, we have a Democrat caught with their hand in the cookie jar - this time it is Congresswoman Maxine Waters of California. Ms. Waters intervened with regulators for a bank of which she had a personal tie to according to the Wall Street Journal. Her efforts in getting them a meeting with the Treasury Department for a bank, OneUnited, that her and her husband own $500,000 in stock is a fine example to set, right?
Advertisement
Highlights from the Wall Street Journal article:
Ms. Waters and her husband have both held financial stakes in [One United]. Until recently, her husband was a director. At the same time, Ms. Waters has publicly boosted OneUnited's executives and criticized its government regulators during congressional hearings. Last fall, she helped secure the bank a meeting with Treasury officials. The financial-services committee on which Ms. Waters sits oversees banking issues, and the lawmaker is a potential future chairman. OneUnited's executives have donated $12,500 to Ms. Waters's election campaigns.
Ms. Waters and her husband, Sidney Williams, were investors in two African-American owned California banks that merged with other lenders in 2002 to form OneUnited. Congressional financial-disclosure forms show Ms. Waters acquired OneUnited stock worth between $250,000 and $500,000 in March 2004, as did Mr. Williams. Mr. Williams joined the board of OneUnited that year.
At a hearing on minority lending in 2007, Ms. Waters criticized regulators for not doing enough to help minority banks stave off mergers with non-minority institutions. The lawmaker said she had contacted the Federal Deposit Insurance Corp. in 2002 over such concerns and "I was told that there was nothing that could be done."
Recommended
Advertisement
Imagine if the main stream media gave them the attention it gives Republicans, you wouldn't see another Democrat elected for years.
Join the conversation as a VIP Member