Government

Maxine Waters Is a Corrupt House Committee Chairman

The California Democrat has a sordid history when it comes to the subject now under her control.

Lewis Morris · Jan. 22, 2019

California Democrat Rep. Maxine Waters has been a leftist mainstay in Congress since 1991. The 80-year-old big government advocating, bitterly partisan race baiter has led the calls to impeach President Donald Trump, harass Cabinet members in public, and basically pour vitriol on anyone and everyone who doesn’t follow socialist dogma. She is unapologetic about her caustic rhetoric, she is out to hurt political opponents — and she is now in charge of the House Financial Services Committee.

The big news on the street right now is that socialist pop star of the moment Alexandria Ocasio-Cortez will be joining the Financial Services Committee. She has called for the breakup of the nation’s largest banks and “taxing Wall Street to support tuition-free public universities and trade schools.” Ocasio-Cortez will fit right in with Waters.

We know all about the leftist freshman and her ambitious plans to remake America in the failed socialist tradition. She is the “new face of the Democratic Party,” after all. But people may need a refresher on Maxine Waters.

Waters has been part of the Financial Services Committee since being elected to Congress, and she has been a ranking member or chair of all its subcommittees at one time or another. She is the first woman to chair the committee.

A puff piece by the lefty news site Vox laid out the Waters agenda for this session, and rest assured, she’s looking to return to the bad old days of the Barack Obama years. This includes shoring up the Consumer Financial Protection Board and other Dodd-Frank creations, and of course going after Trump and other Republicans with all sorts of investigations into whatever she can conjure up.

The media would rather forget, but let us all remember that Waters was under investigative scrutiny herself back in 2010. She was accused of violating House ethics rules when she put together a meeting between Treasury Department officials and executives of a bank in which her husband was an investor and a former board member.

Boston-based OneUnited was supposed to be a “community bank” that aided minorities, but it had been flagged by several oversight agencies as an unsatisfactory lender that wasn’t doing a whole lot of community investing or lending. It was heavily leveraged in Fannie Mae and Freddie Mac, and when both loan entities went into government conservatorship, OneUnited was nearly wiped out. The bank later received a $12 million bailout through the TARP program.

Waters was hit with three counts of violating House ethics rules for not disclosing her personal connection to the bank through her husband. She immediately went on the attack, claiming the investigation was racially motivated. She vowed a loud public fight. The House Ethics Committee eventually blinked, and charges against Waters were dropped in 2012 — by a GOP House.

Waters also vehemently denied taking campaign donations from Fannie Mae and Freddie Mac, agencies that she publicly stated were working just fine in 2004. Of course, that was not the case. When each blew up five years later, taxpayers were stuck bailing out everyone caught in the wake, including OneUnited, to cover bad bets made by people like Waters’s husband.

Maxine Waters has been named one of the most corrupt members of Congress by the nonpartisan Citizens for Responsibility and Ethics in Washington. She is not an honest person. She speaks a lot about helping minorities and protecting consumers from the banks, but somehow the only people who seem to cash in are those associated with Waters. Now that she is in a position of real power that could directly affect our economy, maybe we should devise a way to protect consumers from Maxine Waters.

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