Rep. Waters in hot water over company ties

Posted by LegiStorm on Thursday, March 12, 2009

Rep. Maxine Waters (D-Calif.)'s personal financial disclosures show she has owned stock in OneUnited Bank and her husband has been a director there, but that hasn't stopped her from using her official position to go to bat for the company in several instances.

The Wall Street Journal broke the story about her actions and her self-reported stake in the company exceeding $250,000.

If the House ethics committee decides to investigate the matter, Waters could find herself trying to explain why she didn't recuse herself from the matter.

posted in Rep. Maxine Waters (D-Calif.), conflict of interest, banks, House ethics committee, personal financial disclosures, Wall Street Journal
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4 comments so far

Posted by yisjtinsc on 09/11/2009 12:58 PM EDT
DIFFERENT STANDARDS FOR DIFFERENT PEOPLE
Posted by http://FatCratz.com on 04/13/2009 11:37 PM EDT
Big thanks to legistorm for the information you're making available. You are a journalists best friend. Now let's just hope there are enough real journalists left who care and have the time to dig up the dirt. FatCratz.com is my little effort to empower federal employees to be their own journalists on the misconduct they see all around them.
Posted by anonymous on 04/02/2009 02:07 PM EDT
This is just a continuation of the following that helped start the current financial fiasco. She'll survive because she's in congress, black, and a woman. Can't fight that or your a racist and trying to hold women down. A no-win situation. "Absolutely, absolutely," Waters, (D-Calif.), said. "I think that they're in the same situation. Many of them are making huge salaries. They have stock options, they have bonuses, they have been responsible for predatory lending, sub-prime lending, they all made a lot of money, they were irresponsible in the way that they created this bubble, and they too deserve to be brought down, if necessary." Maxine Waters (2004): "We do not have a crisis at Freddie Mac and particularly Fannie Mae under the outstanding leadership of Frank Raines" “Waters made that clueless comment during a hearing in 2004 and yes, that's the same Frank Raines who cooked the books so that he could receive huge bonuses and who is an advisor to the Obama campaign. Here's a video of the Democrats praising Freddie and Fannie and claiming there's nothing wrong and the Republicans calling for more regulations: http://www.youtube.com/watch?v=_MGT_cSi7Rs
Posted by Zachery Michael on 03/14/2009 02:15 PM EDT
There are many reasons why Americans do not have respect for Politicians these days. Look at the stakes that are facing all of Americans. The economy, health insurance crisis, and benefits for armed services' families. Our elected officials were voting in my the people, and that is whom they work for. Wake up, shape up, or ship out. I actually had much respect for Congresswoman Waters, it is now lost. Visit www.zacherymichael.com for more information and feel free to contact me.

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