Hey, What Happened To That Maxine Waters Ethics Trial?

Pajamas Media

Rep. Maxine Waters (D-CA) was supposed to have faced trial for ethics violations last year, but the trial was suddenly delayed until after the November 2010 elections.

Waters stands accused of obtaining $12 million in TARP money for the bank OneUnited, on whose board her husband Sidney Williams once sat, and in which he owned more than $350,000 in stock. According to a story by the Washington Post in September of last year, Waters — together with Rep. Barney Frank, (D-MA) who was then the chairman of the House Financial Services Committee — changed a law and obtained the financing.

Her trial was delayed because new evidence had supposedly come to light. What that evidence is was not specified. But according to a story on SFGate.com, at least part of that evidence was an email from her grandson Mikael Moore, who is also her chief of staff:

The e-mail never mentioned OneUnited. Moore’s memo said Waters was “under the explicit impression” that provisions affecting small and minority-owned banks were still in the bailout bill …

Rep. Barney Frank, D-Mass., chairman of the Financial Services Committee, said in an interview that he inserted the provision for minority banks to protect OneUnited — because it is based in his state.

He said of Waters, “We never discussed it.”

The provision sought by Waters — and inserted by Frank — told the Treasury Department that it should consider — for bailout money — banks that had an asset size of $1 billion or less, and whose size dropped to a lower range because they owned devalued preferred stock in Fannie Mae and Freddie Mac.

All of that is true, but the only bank that language would affect was OneUnited.

OneUnited has had its own share of trouble. As PJM reported in late September of last year, Rep. Darrell Issa (R-CA), the then-ranking member and current chairman of the House Committee on Oversight and Government Reform, sent a letter to the chairman of the FDIC demanding to know if they maintained a list of banks with connections to prominent members of Congress or the media — and if OneUnited was on the list. PJM went so far as to send a Freedom of Information Act request to FDIC demanding the list in question or proof it did not exist. The request was flatly denied. PJM then sent a second, more specific FOIA request, and to date has not received a response.

OneUnited and it’s CEO Kevin Cohee came under fire from FDIC for executive expenses as well. The Massachusetts-based OneUnited, while asking for $12 million in bailout assistance, had been paying for a 2008 Porsche and a beachfront house in Santa Monica, CA, for Cohee and his wife, Teri Williams Cohee, who is the bank president.

OneUnited had also been heavily criticized for it’s lending practices, noted The Hill:

Boston-based OneUnited Bank had a history of receiving poor performance evaluations, and officials at Treasury and the FDIC were aware of the negative ratings and discussed them before doling out the loan, according to e-mails and other documents Judicial Watch obtained from the Treasury Department through a Freedom of Information Act request ….

One e-mail produced from the FOIA request sent from former Treasury Senior Adviser Michael Scott to Director of the Office of Financial Institutions Mario Ugoletti is dated Sept. 15, 2008, months before banks were selected to receive bailout funds. The e-mail cites a 2004 evaluation criticizing the bank’s service to the state of Massachusetts. The report noted that in 2002 and 2003, the bank administered just one loan.

Waters’ trial has yet to be rescheduled, and there is no word from the committee as to when it might be.

Congressional sources tell PJM the committee is in complete disarray due to internecine warfare between the Democrats on the committee as the Republicans are forced to stand back and watch. While other committees can get on with their work regardless of whether the minority has its house in order or not, the House Ethics Committee, which has an equal number of members of both parties, cannot. Until it does the Waters trial hangs in limbo.


3 thoughts on “Hey, What Happened To That Maxine Waters Ethics Trial?

  1. We the People donated Trillions to help the economic recovery but the Question is Whose Economy did it Help ?? We the people need to Question with Boldness these actions …
    http://dailybail.com/home/the-hammer-gets-hit-by-a-tree.html , the Congressman in this Video calls Paulson out on his bait and switch of the TRAP that NETTED Paulson a Cool 200 Million on a 700 Million investment and all Paulson can do is Stutter …..all while their misdeeds places America and her people in harms way by running us all out of vital needs as China inflates away from our Dollars . The Supreme Court would have trouble denying this is not a threat .

    Watch the first video to see the way they roll over and over the capital to create the leverage on the currency to keep the demand of its use in circulation , but as far as the economic remedy in the Credits go I say these are communist rooted remedies and the USA people need to start New on their own under the Constitution , so Kick the Federal Reserve and those that are in the USA extracting our Resources out NOW and we the people can make our way ;
    http://www.youtube.com/watch?v=TMkXA6kqNsw&feature=player_embedded , and then ask is the level of Ignorance , or Arrogance , in these next 2 videos , reason to Audit the Federal Reserves management of the Dollars Use as Reserve Currency , and , continue below please …

    ( but remember we are seeing a Peaking of willingness by the multi-national BRIC nations to continue to accept the dollar , so the time has come to mop it up so to speak because these BRIC nations have ended up using the Federal Reserves ponsy scheme to consolidate all the worlds intrinsic value in raw materials, the BRIC are even inside the USA extracting our Raw material Resources the giver of our FREEDOM to stay Independent hello , whose running the country ??
    And now add these next links together with what you just researched above to expand the way they engineered the financial ponsy scheme ;
    And while the Foreigners mine our Vital Life giving resources away our Government lets our own Private Enterprises go Broke ??

    And at the same time Our Domestic Enterprises that create our communities Jobs and wealth circulation in our nation being undermined like THIS ??? What in Gods name is Going on here ???

    The Federal Reserve and Central bankers roll over and over the Money they trade with each other and those multi-Nationals that create something out of raw material resources , and these vital resources which has now been consolidated by the BRIC nations is calling for the Federal Reserve to Replace the dollar with a Currency of their choice , so the question is not that the Federal Reserve has ran this ponsy scheme out to the point of USA economic collapse , are they going to walk away from the USA people leaving us to go broke , and loose our Resource base of Life giving Liberty and FREEDOM , all because they Used the USA Resource base as a leveraged asset to run this Debt up to this Point , and go be the BRIC nations new Financial printing Press of the 21st Century .

    We better be controlling our Own vital resource supply if we choose to Be Independently FREE , and we are not doing that as you see these links are showing ,

    Chinese national company is interested in Boise ……
    But this Ponsy Scheme the Federal Reserve has been playing with this International Market functioning under the LIE of FREE trade while the ASIAN members of the BRIC manipulated their Currency values to the Point of that fraud creating their advantage to consolidate these raw materials in exchange for their rolling the dollars they exchanged for these raw assets back to the FEDERAL RESERVE and they in turn rolled these bundled up worthless credits into the Derivative markets and grew that to the point of collapse we see as there is Nothing to back these bundles of worthless paper up,
    , while this process was taking place over the years of FREE trade and we did nothing to balance the value of the dollar by maintaining a tangible asset class in control by the nation that represents the dollar , THE United States of America , doing that with a tariff Trade Policy because we were the Higher valued currency to begin with , and would need to be the enforcing agent of this value , and so we continued to allow the manipulation work to the advantage of the BRIC nations and they now control all the Life giving resources around the world together as a alliance thats becoming more and more hostile by the Day , and have the USA and the Federal Reserve Dependent upon these BRIC nations to the Point that they are Now willing to use this Leverage Against the USA by calling for an end of the dollar , our Representative of USA Raw material worth and the durable life giving products we the people can create our life giving freedoms with , Do We the People Realize this is what FREEDOM , LIBERTY is created with ?? the Drive through window at MC Ds is only as relevant as the Supply that FEEDS whats In the bag , Hello America is anyone Listening ?? But The actions of our Trade Policy and the Federal Reserve have placed The BRIC nations Control our Freedom and Democracy as a FREE Nation in this current World Market system and they are about to use it against the People of the USA by Inflating now what they control by restricting the developments of what they control and shrinking the supply to the point of rationing and we the people will whither away . !!!!!
    China and Russia call for New World Currency while it Mines and Develops USA Oil Resources , What in GODS name is going on here ??? This right here is an admission of Guilt by our Government to Not enforce the Trade rules of FREE floating Currency laws so the USA could Maintain some form of tangible value behind the Dollar either as a Industrial base or a paid duty on imported products , this is a CRIME against the American People and we NEED JUSTICE NOW !!!!!
    http://www.wnd.com/?pageId=109774 if Tariffs would have been in place all these years we wouldn’t be in this mess and behind the 8 ball on controlling our Vital Resources the giver of Independence !!!!!
    It was all a method of this Trade Policy , that has led to ONLY a consolidation of current world resource supplies without very little expansion in Resource supply and now we are seeing the results of this in Volatility in price stabilization in Commodities , a Pure Instinct of Human Beings Level of Understanding this as a Independent Free Thinking survival Instinct .

    The High Cost of the China-WTO Deal: Administration’s own analysis suggests spiraling deficits, job losses; By Robert E. Scott; February 1, 2000:
    It has also taken Mexico\’s Jobs away over the years too. Europe\’s Jobs too. This is all because of a Simple Currency manipulation that does nothing to promote quality in our products.
    Remember what Ross Perot said , we would Hear a Giant Sucking Sound with this Trade Policy , he was right . http://www.thenation.com/article/new-giant-sucking-sound

  2. Shut Down the US GOVERNMENT and Audit the FEDERAL RESERVE !!!!
    There is so much debt being placed on the backs of the American People for reasons we have no Idea are being done , and its time we the people had a Idea about what it is thats been going on and is going on and the only way to do it is to Audit the FEDERAL RESERVE !!!

    Dow Jones Islamic Market Index, I wonder if this was Instrumental in the Placing of the bailouts as Guarantees for compliance under Sharia law rules that have to be in place to keep the Investors of Oil rich Islamic states Invested in the US stocks?

    Is this a Good Reason to Audit the FEDERAL Reserve ??

    Are US Stock Markets already under Shariah Law in the USA ?? Did the Citi Group bailout have anything to do with markets as a rule of having the Government in control over the markets by bailing out of some of the top 30 Dow companies to be in compliance under Shariah Law so International Investor from Islamic states that invest in these US companies will keep invested in the USA ?? , ( See the Link Below ) , that the average Investor is Not aware of ???

    In this link Bernanke talks about bailout foreign investors starting in 2007 so maybe this Islamic Board demanded they be secured under Shariah rules they formulated , if so the US Investors have a right to know these things don’t you think ???

    Did US taxpayers bailout Islamic Investors to be in complience with Shariah Law so Arab Oil rich Invetors would stay Invested in US stock markets ?
    Dow Jones Islamic Market Index℠

    family includes thousands of broad-market, blue-chip, fixed-income and strategy and thematic indexes that have passed rules-based screens for Shari´ah compliance. The indexes are the most visible and widely-used set of Shari´ah-compliant benchmarks in the world.
    To determine their eligibility for the indexes, stocks are screened to ensure that they meet the standards set out in the published methodology. Companies must meet Shari´ah requirements for acceptable products, business activities, debt levels, and interest income and expenses. The screening methodology is subject to input from an independent Shari´ah supervisory board. By screening stocks for consistency with Shari´ah law, the indexes help to reduce research costs and compliance concerns Muslim investors would otherwise face in constructing Islamic investment portfolios.

    Shari´ah supervisory board
    Screens for Shari´ah compliance

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