Troubled Waters: More Bailout Nonsense
There’s a nice little chronology in the news headlines. Rep Maxine Waters (D-CA) is under scrutiny due to a story she arranged for bailout funds to a bank on which her husband is a board member. You can view her press release here. Below there are headlines that outline the story. Waters defends her advocacy. Then Waters defends her ties to banks. She denies acting improperly. She denies wrongdoing. And then there is Congresswoman tied to bank, helped seek funds and a personal bailout.
That’s the troublesome part. A personal bailout that may be for $50 million dollars. Makes you wonder if advocacy pays. Also makes you wonder what the driving force behind bailouts is. Many politicians who voted for the bailouts use the lame excuse that something had to be done but they don’t like the bills offered. The relevant question would then be if you’re the legislators and you didn’t like the legislation why did you pass it? That may be a rhetorical question as it is in their best interest and not yours.
Stanford Matthews
MoreWhat.com
Waters defends bank advocacy
Maxine Waters defends her ties to banks
Waters Denies Improperly Aiding Bank Where Husband Was Board Member
Rep. Waters denies wrongdoing in bank bailout
Congresswoman, Tied to Bank, Helped Seek Funds
A Personal Bailout
from her congressional website bio…..
Congresswoman Maxine Waters is considered by many to be one of the most powerful women in American politics today. She has gained a reputation as a fearless and outspoken advocate for women, children, people of color and the poor.
Elected in November 2008 to her tenth term in the House of Representatives with an overwhelming 80 percent of the votes in the 35th District of California, Congresswoman Maxine Waters represents a large part of South Central Los Angeles, the communities of Westchester and Playa Del Rey as well as the diverse cities of Gardena, Hawthorne, Inglewood and Lawndale.
She continues to be a member of the House Committee on Financial Services and the Chairwoman of its Subcommittee on Housing and Community Opportunity. She also serves on the Subcommittee on Financial Institutions and Consumer Credit, and the Subcommittee on International Monetary Policy, Trade and Technology.
She also continues to serve on the Committee on the Judiciary and its Subcommittees on Crime, Terrorism, and Homeland Security, and on Immigration, Border Security and Claims.
March 15th, 2009 at 3:12 pm
they do nothing four our benefit and we know it!
March 15th, 2009 at 3:56 pm
Don’t know if she did something wrong or not but currently available information certainly raises suspicion. At the very least avoiding the appearance of impropriety or recusing one’s self from a potential conflict of interest are important standards that have been violated.
If a family member is or was a board member or simply owned stock in a bank receiving taxpayer bailout money the ‘congressperson’ should have been miles away from this one.