“Impeach Trump” Representative Maxine Waters (D-CA) is about to assume a very powerful role as the House Financial Services Committee. Even before she assumes her role, Maxine has alreaday begun threatening the banks, telling them, “I’m gonna do to you what you did to us!”
In 2012, when Maxine Waters was about to assume the role as chairwoman on the House Financial Services Committee, Judicial Watch wrote a scathing condemnation of the Democrats decision to place her in that powerful role, yet again:
A famously corrupt—and seemingly untouchable—congresswoman renowned for abusing her power to enrich family members is set to hold a ranking position on the powerful House committee that oversees the nation’s financial services industries.
Even for Washington this is a bit much. Democrats have chosen a scandal-plagued college, veteran Congresswoman Maxine Waters, to be the ranking member on the House Financial Services Committee despite her many transgressions over the years. The influential congresswoman has helped family members make more than $1 million through business ventures with companies and causes that she has helped, according to her hometown newspaper.
A few years ago Waters was investigated by the House Ethics Committee for steering $12 million in federal bailout funds to a failing Massachusetts bank (that subsequently got shut down by the government) in which she and her board member husband held shares. Read all about it in Waters’ profile on Judicial Watch’s 2011 “Ten Most Wanted Corrupt Politicians.” list.
Well, it looks like history is about to repeat itself, again, as Maxine Waters is set to assume the role as chairwoman again in 2019.
The video below shows Maxine Waters just before the midterm elections, and a flashback video to the time when Maxine Waters openly admitted her desire for a Socialist form of government in the United States during a 2009 House hearing, stating that her goal was to see a government takeover of all of the oil companies in America.
Prior to the midterms, Maxine Waters openly bragged about how she would destroy our economy by punishing the banks with regulations.
‘I will be the first African-American, the first woman to chair the powerful financial services committee. That’s all of Wall Street, that’s all the insurance companies, that’s all the banks. And so, of course, the CEO’s of the banks now are saying, ‘What can we do to stop Maxine Waters? Because if she gets in, she’s gonna give us a bad time.’ What am I gonna do to you? I’m gonna do to you what is fair—I’m gonna do to you what you did to us.”
Here we go… https://t.co/Ax7pPkzW3r
— James Woods (@RealJamesWoods) December 2, 2018
The Washington Times reports- Waters is no friend to the nation’s biggest banks and Wall Street, and has been a vocal critic of President Donald Trump and his administration. The congresswoman from California has called for more regulation of banks, and has opposed Trump’s political appointees moving to roll back regulations on banks and other financial services companies.
For example, Waters, along with several other Democrats, were “no” votes on a banking industry bill that rolled back several parts of the Dodd-Frank Act, the law passed under President Barack Obama that more tightly regulated banks after the financial crisis. In the Senate, the bill was supported by several Democrats and was signed into law this summer by Trump.
With a Republican-controlled Senate and Trump in the White House, it is unlikely Waters‘ proposed regulations on banks will make it into law. However, it’s also much less likely that any substantial new deregulatory bills get through, either.
But there are things that will be outside of the control of Waters and congressional Democrats. Most banking laws give the regulators who oversee the industry – the Federal Reserve, CFPB, Office of the Comptroller of the Currency, and Federal Deposit Insurance Corporation and others – wide authority to tailor regulations as needed. Nearly all of the positions at those regulators are now filled by Trump appointees. –
In 2009, Maxine Waters was involved in one of the biggest scandals related to the banking industry and a US lawmaker in history.
In August 2010, an investigative subcommittee of the House Ethics Committee issued a Statement of Alleged Violation charging Rep. Waters with three counts of violating House rules and ethics regulations in connection with her actions regarding OneUnited.
From the Citizens for Ethics – In the midst of a national financial catastrophe, Rep. Maxine Waters (D-CA) used her position as a senior member of Congress and member of the House Financial Services Committee to prevail upon Treasury officials to meet with OneUnited Bank. She never disclosed that her husband held stock in the bank. This outrageous conduct has led Citizens for Responsibility and Ethics in Washington (CREW) to include the congresswoman as one of the Most Corrupt Members of Congress.
Rep. Waters has close financial ties to OneUnited Bank, one of the largest black-owned banks in the country. In March 2004, she and her husband, Sidney Williams, each separately bought OneUnited stock worth between $250,001 and $500,000. Additionally, Mr. Williams maintained separate holdings at OneUnited worth between $250,001 and $500,000. In September 2004, Rep. Waters sold her stock in OneUnited, and her husband sold a portion of his valued between $250,001 and $500,000. That same year, Mr. Williams joined the bank’s board, a position he retained until April 21, 2008. In addition, Mr. Williams owned 3,500 shares of OneUnited preferred stock and 476 shares of the bank’s common stock, the value of which was approximately $350,000 in June 2008. If OneUnited failed, the stock would have been worthless.
On or about September 8, 2008, Rep. Waters asked then-Secretary of the Treasury Henry Paulson to hold a meeting with minority-owned banks to discuss losses they suffered after the government placed Fannie Mae and Freddie Mac into conservatorship.10 The subsequent September 9th meeting included several senior Treasury officials, but representatives of just a single bank – OneUnited. One attendee, OneUnited’s senior counsel Robert Cooper, was then also the incoming chair of the National Bankers Association (NBA), a trade association representing minority-owned banks. Rep. Waters’ chief of staff and grandson, Mikael Moore, also attended.
Kevin Cohee, chief executive officer of OneUnited, and Mr. Cooper used the meeting as an opportunity to request bailout funds.14 In a subsequent email, Mr. Cooper specifically requested more than $40 million from Treasury to compensate the bank for losses.15 At the time, the department lacked the legislative authority to bail out the bank.16 Former Bush White House officials said they were surprised when OneUnited officials asked for bailout funds because they understood the meeting had been arranged to discuss the losses minority-owned banks endured when the federal government took over Fannie Mae and Freddie Mac.
In December 2008, Rep. Waters intervened again, asking Treasury to host another meeting to ensure minority-owned banks received part of the $700 billion allocated under the Troubled Asset Relief Program (TARP). The second meeting focused on minority-owned banks in general, though a OneUnited official was present. On December 19, 2008, OneUnited secured $12.1 million in bailout funds.
Rep. Waters did not disclose her financial ties to OneUnited to Treasury officials when she requested meetings between regulators and bank officials. A former Bush administration official who helped set up the initial meeting stated, “[Learning of the connection] was upsetting to me. This is something that was potentially politically explosive and embarrassing to the administration. They should have at least let us know.” Treasury officials claimed that although OneUnited also requested a meeting with regulators regarding Fannie Mae and Freddie Mac losses, it was not until the congresswoman intervened that the Treasury Department approved the initial meeting.
Further, sometime in early September 2008, around the same time Rep. Waters asked the Treasury Department to hold the initial meeting, Rep. Waters spoke to Rep. Barney Frank (D- MA) about OneUnited and the fact that Mr. Williams previously had served on the board. Rep. Frank advised her to stay out of matters related to OneUnited because of her husband’s ties to the bank. Nevertheless, despite Rep. Frank’s advice, Mr. Moore continued to actively assist OneUnited representatives in their quest to receive bailout funds, and worked to craft legislation authorizing Treasury to grant OneUnited’s request.
Rep. Waters defended her actions, claiming the NBA had asked her to request the initial meeting with Treasury, and she released a letter from Mr. Cooper. Neither the former chairman nor the president of the NBA, however, had been aware of Mr. Cooper’s letter, and the organization began an internal investigation.
“By contacting then-Treasury Secretary Henry Paulson to request a meeting, allegedly for a group of minority-owned banks, but then arranging for only one bank – OneUnited, in which she had a financial interest – to attend, Rep. Waters violated House conflict of interest rules,” said CREW Executive Director Melanie Sloan. – Citizens For Ethics
In the world of Democrat politics, it makes perfect sense for Crooked Maxine Waters to take over as the powerful chair of the House Financial Services Committee.