On Tuesday, House Democrats unanimously selected Rep. Maxine Waters (D-CA) to be the top Democrat on the House Financial Services Committee.
Waters will be the ranking member on the committee that deals with banking issues. Last year, the House Ethics Committee investigated Waters, one of the most partisan members of the Congressional Black Caucus, for allegedly using her position in Congress to bail out a bank in which her husband owned $350,000 worth of stock.
The Ethics Committee cleared Waters of any wrongdoing, because it could not find “clear and convincing evidence” that Waters used her influence and position to directly help OneUnited Bank secure a $14 million federal bailout from the TARP program. Six members actually recused themselves from the investigation.
The Ethics Committee did send Waters’ grandson and chief of staff, Mikael Moore, a letter of reproval for his role in taking “certain actions on behalf of OneUnited when he knew or should have known” of his family’s financial interest.” Waters’ office aggressively lobbied the Treasury Department in 2008 to secure bailout funds for OneUnited Bank.
Moore told the committee he had no idea his grandfather owned stock in OneUnited Bank and said it was an “impossible standard” for him to have to find out whether his family members potentially owned stock in banks for which his office was trying to secure bailout funds.
Melanie Sloan, head of the left-leaning Citizens for Responsibility and Ethics (CREW), said then that Moore’s employment in his grandmother’s office “set the stage for potential problems.”
“In light of this case, perhaps now the Administration Committee will add grandchildren to the list of relatives members may not employ,” she said.
Rep. Jeb Hensarling (R-TX) will chair the House Financial Services Committee, and Waters said she hoped to “reconcile our visions” in the next Congress. The two do not agree on much. Hensarling wants to reform Dodd-Frank, while Waters wants to strengthen the legislation that is crippling small banks with regulation.
Waters also said she intends top push for “housing finance reform” and a financial system that “facilitates economic opportunity and wealth creation for all.”
“Housing finance reform, in particular, will be crucial to ensuring the long-term success and stability of our economy,” Waters said. “I believe we need a financial system that facilitates economic opportunity and wealth creation for all, and I stand ready to work with my colleagues towards that goal.”
Archive for the ‘bailout’ Category
The environmental agenda has been infected by extremism—it’s become an economic suicide pact. And we’re here to challenge it. On Earth Day, visit http://www.freemarketamerica.org.
We all know why the Watermelons (Green outside, red inside) want America to fail. A failed state is ripe for totalitarian takeover. Just ask the Germans, the Russians, the Chinese, the Cubans, the Venezuelans, the Vietnamese, the Rhodesians (if you can find any), soon the Argentinians. and on and on and on
And to remind you of how long the Watermelon totalitarians and their media accomplices have been working on this:
From Newsweak (sic) April, 28, 1975
I have been wondering about the seemingly incoherent policies propagating out of the District of Corruption and trying to develop a model of thinking and goals that would be consistent with the insanity. I have had to abandon any thought of citizen or taxpayer well-being or maintenance of American exceptionalism in order to come up with a somewhat consistent model.
The District of Corruption has become, in essence, a wholesale club sized Faculty Lounge that has developed a plan to run the country as a university focused on the welfare of the faculty over the students or the payers of the tuition.
First is the plan to get out of debt seems to be Quantitative Easing III, IV, V, VI, and however many more it takes to make all those outstanding Treasury Bills (and their interest obligations) worthless. The fact that it will impoverish the American citizenry is as Microsoft used to say, “not a bug, but a feature.” It will wipe out the rich as well as the successful and the thrifty, thus putting all citizens’ welfare in the hands of those best qualified to judge a persons worth (no not the free market, that is seen as cruel, unfair and idiotic to the insufficiently rewarded, it must be those with the wisdom of Solomon, the Tenured).
This destruction of the dollar not only gets us out of debt while punishing those so rude to have been more successful in the free market than the new masters, but also sets the stage for the resurgence of America as a “properly structured society.” In other words the serfs need to acknowledge their proper place in the presence of their accredited and credentialed betters.
That brings us to the master stroke. In claiming that the oil companies get a “tax incentive” by writing off business expenses such as depreciation, exploration, and the cost of failed production attempts (things that legitimate costs of doing business in every other business, just bigger numbers in the oil business), the stage is set for the DOE to revoke all leases and nationalize the oil fields. After the dollar has been destroyed and whether the new currency that purchases oil is a “basket of currencies” or the PetroBuck® the wealth in the oil fields of what was previously called the United States will be more than enough to support the proletariat in their virtual slavery while the masters party like Nero. Issuing decrees as the Gods from Olympus (you have to “properly guide” those serfs, dontcha know?).
I can’t understand how Trade Unions and others like the Mine Workers can stand with government unions. I have sent much of my like in “Right to Work” states and have specifically requested trade union sub-contractors for building projects because I have watched unions like the IBEW train, certify and produce exceptional tradesmen ofttimes working with less than “prime” candidates. To me someone who has gone through a trade union’s training is much preferred over someone simply “licensed” by government. The mining, seafaring and manufacturing unions whose primary objectives are the safety and just treatment of their members are also good organizations. This i not to say I believe in union protectionism. I believe that unions should have to sell their product to the members and their worth to their consumers. “Look for the union label” used to mean higher quality, and it still should.
Government unions (and now the UAW with their cozy relationship and funding running back and forth with corrupticrat politicians) are the ones that draw my ire and the following video sums it up in a nutshell. The Government Unions have become the way to make the taxpayer fund big government politicians at the expense of the taxpayers.
Congressman Patrick McHenry (NC-10) illustrates the sheer magnitude of President Obama’s $3,728,686,000,000 budget proposal – and discusses how House Republicans are listening to the American people by cutting spending to create jobs.
We are being old that unemployment dropped 0.4% with a total of 103,000 jobs. Let’s see now, that means that 0.1% would be 26,000 (rounded up). Then the remaining 9.4% could be totally solved by 94X26,000 which is 2,244,000 jobs. But the Department of Labor said about unemployment benefits:
“The total number of people claiming benefits in all programs for the week ending Dec. 18 was 8,765,952.”
Ok, who out there can convince me that there isn’t something fishy going on?
Oh, and before you say that the BLS numbers don’t cont those not looking for work, please note that anyone receiving benefits ha to certify that they are looking for work, so they should indeed be counted
Sources for the numbers: