Way to go, Maxine:
Top federal regulators say they were taken aback when they learned that a California congresswoman who helped set up a meeting with bankers last year had family financial ties to a bank whose chief executive asked them for up to $50 million in special bailout funds.
Representative Maxine Waters, Democrat of California, requested the September meeting on behalf of executives at One- United, one of the nation’s largest black-owned banks. Ms. Waters’s husband, Sidney Williams, had served on the bank’s board until early last year and has owned at least $250,000 of its stock.
What the hell is wrong with these people?
DougJ
They are there to represent the interests of the wealthy.
dmsilev
Speaking of financial stupidity, Jon Stewart is currently about one pointed question away from making Jim Cramer cry on national television. "Don’t mess with The Daily Show" should go on the list of classic blunders, right after "Never go up against a Sicilian when *death* is on the line.".
-dms
Comrade Stuck
It happens to all of them after a period of time in office. The only saving grace for dems is the fact for republicans the period of time usually takes only a few hours after being sworn in, and somebody shows them where the lobbyists are. Dems maybe a year or two.
And after 30 years in office, for some a "Monument to Me" is justified.
Ninerdave
@dmsilev:
I will give Cramer credit for having the balls to go on TDS.
TenguPhule
Well after TDS finishes slicing them off and sticking them in his mouth, credit of them is all he’s going to have to remember them.
Comrade Darkness
It’s embarrassing how clumsy dems are a being crooked.
It’s like watching the republicans try to have normal, straight sex.
The Moar You Know
I’m not sure what’s involved, process-wise, but both her and Murtha need to go. Immediately.
There’s no excuse for that kind of behavior whether you are playing for my team or the other guys.
bootlegger
So maybe I’m being obtuse, but what did she do other than "set up a meeting"? If this is one of the nation’s largest black-owned banks, and its from her state, what’s wrong with her setting up the meetings for some of the bailout dough? Seriously, is she suppose to do nothing because her husband has a financial stake? How many congresscritters have stock in Citi or BofA? I know they’re all crooked as hell, but the events described here don’t even raise a rash on me any more.
Shygetz
At the risk of repeating myself, I’ll say it again.
Guillotine. It’s high-throughput peasant justice, and the oligarchs have forgotten history.
Comrade Mary, Would-Be Minion Of Bad Horse
So I’m not the only one thinking Cramer was on the edge of tears. Jee-sus.
We have a few minutes left of the show up here. I still don’t know why we got Colbert first.
Church Lady
@bootlegger – It’s too involved to summarize here in any type of succinct fashion, so instead read the two reports on it in today’s NYT, or the one in the Wall Street Journal, or even on Politico.
As of her last financial disclosure, she and her husband had a very large vested interest (250K-500K in stock) in this bank not going under and making sure they got TARP funds to help make sure it wouldn’t happen.
She might have been serving a constituant’s interest, but she was also serving her own, in a very large way.
burnspbesq
@bootlegger:
I wouldn’t accuse you of being obtuse, but you may be a bit behind on developments in white-collar criminal law. In recent years, DOJ has advanced a theory that when instrumentalities of interstate commerce are used to deprive the public of the honest services of public officials, that’s wire fraud. The theory of the case against Waters would be that by using the phone or email to arrange the meeting without disclosing right up front that she had an economic interest in the applicant (in making that statement, I am assuming that her hubby’s stock in the bank in question is community property), she made it impossible for the people giving out the money to properly assess the merits of the application.
If that seems to you to be a big stretch, I won’t argue with you. Honest services fraud is, in my view, something that AUSAs can use to get indictments when they really don’t have anything. It is extraordinarily susceptible to abuse by prosecutors with a political axe to grind (just ask that poor junior college professor down in Alabama who got dragged out of the shower by armed FBI agents).
burnspbesq
OT:
Syracuse and UConn are going to a third overtime.
bootlegger
@burnspbesq: Ok, and like I said I see the unethical behavior and frankly wish political access wasn’t related to money, but "setting up a meeting" between a constituent and a regulator would seem to be no big deal. But if she did the crime, then bring on the time (or the guillotine).
burnspbesq
Make that a fourth overtime.
Et Tu Brutus?
"Meet the new boss- same as the old boss"
The Who
Singularity
Yeah, gotta say that if Waters was shoring up her own economic position, rather than protecting the interests of her constituents, she has to go. On the other hand, gonna need some proof first.
Aimai
I too think she should go but it’s a bit much to act as though the bank reqesting tarp funds was at all out of line when we know from the getbgo that all of paulson and geithners decisions directly benefitted Goldman sachs their former employer– and we didn’t bat an eye at cheneys "annuity" from kbr for eight years.
Aimai
DrDave
Our system of elected government, where the vast majority of incumbents get to sit safe in their gerrymandered districts, creates a sense of entitlement.
It is just that simple.
Term limiting Congressmen and Senators would go a long way toward fixing the system.
And good luck with that.
timb
We should forget Charlie Rangel in that list of corrupt Dems. Murtha, Rangel and now Maxine should have a death match with Pence, Cantor, and Steve King.
We can shoot whomever emerges unscathed
The Grand Panjandrum
Maxine Waters troubles and questionable behavior have been well documented by Melanie Sloan at CREW for several years now. Both the House and Senate are rife with members using their good offices as an ATM for family members. Waters case is just another headline to sell papers. This is just the latest because it has to do with TARP. Suddenly Congress and corporate America is in the headlines for being crooks. Well knock me over with a feather.
@DrDave:
It will be about as successful as trying to make a living playing the lottery. (At least you know the lottery is fair in a statistical sense.)
Hyperion
is BS. Look at Mayor Bloomberg. There WERE term limits and they just overturned them.
DrDave
@Hyperion:
Bloomberg’s situation is unique in that he works for free, lives in his own home and is in it for the benefit of the city. Who he is uniquely positions him for the office he holds during a time of fiscal crisis. Further, the city did not eliminate term limits, they extended them from two terms to three.
The Populist
I come here and tear the GOP a new one everyday. I will always rip a dem when they fuck up and Waters fucked up.
Waters should answer for this and leave office if it is proven she had a hand in this mess.
Same applies to Charlie Rangel. The Dems HAVE to show America they will not tolerate this.
The Populist
So? He’s 100 times a better mayor than Giuliani the Corrupt.
BTW – you accused me of not giving you a link in another post when I clearly did. I don’t respect people who try to paint others with bull to win an argument, Hyperion. What you did is disingenuous.
The Populist
I’m with you. Murtha doesn’t bother me as much because it’s not the level that Rangel and Waters’ corruption seems to be.
Just my opinion.
passerby
Ruh roh.
wrong thread