Maxine Waters – Another Corruptocrat

Michelle Malkin points readers to this Wall Street Journal article on Congresswoman Maxine Waters’ conflict of interest concerning the bailout that helped her bottom line.

When Rep. Barney Frank was looking to aid a Boston-based lender last fall, the Massachusetts Democrat urged Maxine Waters, a colleague on the House Financial Services Committee, to “stay out of it,” he says.

The reason: Ms. Waters, a longtime congresswoman from California, had close ties to the minority-owned institution, OneUnited Bank.

Ms. Waters and her husband have both held financial stakes in the bank. Until recently, her husband was a director. At the same time, Ms. Waters has publicly boosted OneUnited’s executives and criticized its government regulators during congressional hearings. Last fall, she helped secure the bank a meeting with Treasury officials.

Of course, she’s not the only Democrat with questionable ties to the banking industry.  In fact, it’s funny that Barney Frank had to be the voice of reason to Maxine Waters.  Frank literally was in bed with the man who created the banking collapse.

The July 3, 1998, Reliable Source column in The Washington Post reported Frank, who is openly gay, had a relationship with Herb Moses, an executive for the now-government controlled Fannie Mae. The column revealed the two had split up at the time but also said Frank was referring to Moses as his “spouse.” Another Washington Post report said Frank called Moses his “lover” and that the two were “still friends” after the breakup….

Moses was the assistant director for product initiatives at Fannie Mae and had been at the forefront of relaxing lending restrictions at the company for rural customers, according to the Feb. 23, 1998, issue of National Mortgage News (NMN).

“Herb Moses, who helped develop many of Fannie Mae’s affordable housing and home improvement lending programs, has left the mortgage industry,” Darryl Hicks wrote for NMN. “Mr. Moses – whose last day was Feb. 13 – spent the past seven years at Fannie Mae, most recently as director of housing initiatives. Over the course of time, he played an instrumental role in developing the company’s Title One and 203(k) home improvement lending programs.”

Barney Frank and Maxine Waters aren’t the only ones.  Chris Dodd and Byron Dorgan got sweetheart loans from scandal-plagued Countrywide Financial, a key player in the banking collapse.  And Dodd of course is now immersed in a scandal involving a former Bear Stearns exec – Dodd received a cottage in Ireland from the guy after Dodd helped secured a Clinton pardon for his insider trading conviction.

We could add to this list all the Obama appointees with financial scandals, but getting back to Maxine Waters, here’s more:

Sheila Krumholz, executive director of the Center for Responsive Politics, a watchdog group, says Ms. Waters should have recused herself from any matters involving the bank. If her support helped OneUnited, “it was a disservice to her constituents,” Ms. Krumholz says.

Water’s entire career has been a disservice to her constituents, filled with cronyism for her family and despicable race-baiting.  As Michelle predicts, it’s only a matter of time before Waters accuses the WSJ of racism.

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