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Keyword: oneunitedbank

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  • Maxine Waters' Leaky Argument Can't Wash Away Banking Scandal Dirt

    03/22/2009 2:59:18 PM PDT · by Trueblackman · 7 replies · 1,405+ views
    Project21 ^ | 22 March 2009 | Trueblackman
    Maxine Waters' Leaky Argument Can't Wash Away Banking Scandal Dirt Banks pushed risky loans to people who could not afford them. Homeownership was promoted as a right for all instead of one for those who saved. Since the mortgage bubble burst, leaving many in financial trouble, a lot of anger has been directed at banks and the bankers involved. Lawmakers are worked up in a lather, but this should not remove them from scrutiny. In the case of Congresswoman Maxine Waters (D-CA), criticism of her involvement in one aspect of this crisis is extremely justified. Yet she is playing the...
  • Maxine Waters: Banking on Hypocrisy

    03/13/2009 5:12:13 AM PDT · by Kaslin · 18 replies · 1,152+ views
    Townhall.com ^ | March 13, 2009 | Michelle Malkin
    At a flail-and-wail House hearing last month, California Democratic Rep. Maxine Waters melted down in front of big banking CEOs. "Raise your hand! Raise your hand!" she shrieked as she harangued the executives on their business practices and management of federal bailout money. Sneering at the "captains of the universe," whom she refused to address by name ("You, Bank of America!"), Waters excoriated the corporate heads for their greed. "All of my political life," Waters bragged, "I have been in disagreement with the banking and mostly financial services community because of practices that I have believed to be not in...
  • Maxine Waters elected ranking member of House financial panel

    12/06/2012 5:12:18 PM PST · by Attention Surplus Disorder · 24 replies
    Reuters ^ | Dec 4, 2012 | unknown
    Maxine Waters elected ranking member of House financial panel (Reuters) - California Democrat Maxine Waters was elected to serve as ranking member of the House Financial Service Committee, according to an announcement from Waters' office on Tuesday.
  • Long delayed ethics charges against Rep Maxine Waters to finally go forward

    06/12/2012 9:02:06 AM PDT · by Oldpuppymax · 18 replies
    Coach is Right ^ | 6/12/2012 | Doug Book
    It was in August of 2010 the House Ethics Committee decided to proceed with charges against California Congresswoman Maxine Waters for contriving to procure “special favors” for the Massachusetts-based, OneUnited Bank. And although “Waters has done her damnedest during [these] three years to exploit as many legal technicalities as possible to try to get the investigation halted…” it now looks as though the jig might finally be up. (1) In 2008, Representative Waters set up a meeting between officials of the Treasury Department and members of a “trade association” of minority owned banks. The meeting, however, consisted almost exclusively of...
  • No House cleaning for dirty Waters

    05/01/2011 1:19:19 AM PDT · by Scanian · 7 replies
    NY Post ^ | April 29, 2011 | Michelle Malkin
    While ethics watchdogs dither, it's shady business as usual for scandal-plagued Rep. Maxine Waters. Last summer, the House Ethics Committee charged the California Democrat with three violations related to her dealings on behalf of minority-owned OneUnited Bank in Los Angeles. The panel accused Waters of bringing discredit to the House for using her influence to seek and secure taxpayer-subsidized special favors for the failing financial institution. Eight months have passed since the House ethics panel charged Waters. But to date, there has been no action. Instead, Waters is busy ginning up opposition to GOP budget and entitlement reform, introducing regulatory...
  • Maxine Waters Ethics Trial Canceled

    11/19/2010 12:24:17 PM PST · by Sub-Driver · 41 replies
    Maxine Waters Ethics Trial Canceled Posted by Brian Montopoli Leave Comment One day after it recommended censure for veteran Democrat Charles Rangel of New York, the bipartisan House ethics committee has canceled the Nov. 29th trial for California Democratic Rep. Maxine Waters. The committee said new material has come to light that has prompted a decision to send the Waters case back to the initial subcommittee that first looked into it, according to CBS Radio News Capitol Hill Correspondent Bob Fuss. That four-member subcommittee will now reexamine the evidence against Waters. Waters has been accused of improperly attempting to steer...
  • Ethics charges against Rep. Maxine Waters, D-Calif., looking much worse and they were...

    09/17/2010 1:36:51 PM PDT · by jazusamo · 29 replies
    Washington Examiner ^ | September 17, 2010 | Mark Hemingway
    Complete title: Ethics charges against Rep. Maxine Waters, D-Calif., looking much worse and they were bad to begin with Things looked pretty bad when Congresswoman Maxine Waters was caught helping arrange a taxpayer bailout for a bank where her husband was a former board member and had a significant financial interest in. The House Ethics Committee report on the matter was pretty damning. Today, the Washington Post has a lengthy and terrific piece of reportage that shows the circumstances of the OneUnited Bank bailout are even more suspicious than previously thought: From the moment Boston-based OneUnited Bank began seeking a...
  • New Waters/Frank Scandal Documents Uncovered by JW: OneUnited Bank Received “Less than...

    09/15/2010 11:17:08 AM PDT · by jazusamo · 6 replies
    Judicial Watch ^ | September 15, 2010
    Complete title: New Waters/Frank Scandal Documents Uncovered by JW: OneUnited Bank Received “Less than Satisfactory” Assessment Prior to Bailout Community Reinvestment Act (CRA) Evaluation: OneUnited “Ineffective” “Needs to Improve” “Less than Satisfactory” “Has Done a Poor Job” Washington, DC -- September 15, 2010Judicial Watch, the public interest group that investigates and prosecutes government corruption, announced today that it has received new documents from the U.S. Department of Treasury related to the controversial $12 million bailout grant provided to the Boston-based OneUnited Bank. The documents, obtained in response to a Freedom of Information Act (FOIA) lawsuit filed against Treasury, include internal...
  • LA Times: Bank at center of Rep. Waters inquiry has checkered past

    08/12/2010 5:34:30 AM PDT · by Oldeconomybuyer · 31 replies
    Los Angeles Times ^ | August 12, 2010 | By E. Scott Reckard and Stuart Pfeifer
    OneUnited Bank, the financial institution at the center of a congressional ethics investigation involving Rep. Maxine Waters, paid for a luxurious lifestyle for its chairman, including a Porsche and a house on Pacific Coast Highway in Santa Monica despite his having a record that includes arrests and allegations of drug use. The bank has been criticized by regulators in Florida for having an unusually poor record of lending to people in low-income neighborhoods. It also has failed to pay back $12 million in federal bailout funds. Cohee's high-flying perks came despite his having been charged in 2007 with felonies after...
  • It's not just Rangel--Rep. Maxine Waters, D-Calif, to be tried on ethics charges

    07/31/2010 3:09:37 AM PDT · by Scanian · 53 replies · 7+ views
    Washington Examiner ^ | July 30, 2010 | Mark Hemingway
    Here’s your Friday night news dump — move over Charlie Rangel: "Rep. Maxine Waters (D-Calif.) has chosen to go through an ethics trial, like the one lined up for New York Rep. Charles Rangel, rather than accepting charges made by an ethics subcommittee, a source familiar with the process tells POLITICO. The back-to-back trials of a pair of black lawmakers represent an unprecedented use of an ethics adjudication system that has rarely been used by House members accused of breaking House rules. Waters’ case revolves around allegations that she improperly intervened with federal regulators to help a bank that her...
  • Decision Near on Waters Ethics Case [corrected title]

    07/29/2010 5:49:37 PM PDT · by MrZippy2k · 19 replies · 3+ views
    Politico ^ | 7/29 | JONATHAN ALLEN & JOHN BRESNAHAN
    A House ethics subcommittee has completed its investigation into allegations of wrongdoing by Rep. Maxine Waters (D-Calif.), and could announce its next steps before lawmakers leave town for the August recess Friday, according to sources familiar with the process. The committee is in discussions with Waters about the case, in which investigators looked at whether she broke House rules by improperly intervening with federal officials on behalf of a local bank, OneUnited Bank, that her husband owned stock in and once sat on the board of directors. It’s not clear yet what would be contained in a Statement of Alleged...
  • Barney Frank's TARP Lies May Launch Ethics Investigation

    04/02/2010 11:14:40 PM PDT · by Shellybenoit · 24 replies · 826+ views
    The LID/Judicial Watch ^ | 4/3/2010 | The Lid
    Last January we reported that as part of the release of TARP dollars, Congressman Barney Frank directed funds to a local Massachusetts bank Cited by regulators for excesses (they bought the CEO a Porsche). Even worse the Bank has been cited for UNSOUND Business Practices: Frank, head of the powerful House Financial Services Committee, acknowledged that last fall he inserted into the government’s $700 billion Troubled Assets Relief Program bill specific language to help OneUnited, New England’s only black-owned bank. He also said he contacted someone at the Treasury Department about OneUnited’s application for emergency TARP funds, though he insisted...
  • (Rep. Maxine) Waters' Role In Bailout Scrutinized

    03/13/2009 11:08:02 AM PDT · by lilylangtree · 9 replies · 632+ views
    The Spokesman-Review ^ | 3-15-09 | Wire Reports
    Rep. Maxine Waters, one of Los Angeles’ most enduring liberal politicians, has come under scrutiny because of bailout funds that went to a bank in which her husband had owned stock and served on the bank board. Waters was a senior member of the congressional committee dealing with the financial crisis at the time that OneUnited Bank, one of the nation’s largest minority-owned institutions, received $12 million in bailout funds. Her husband, Sidney Williams, served on the bank board until early last year and held at least $500,000 in investments in the bank in 2007, the most recent year for...
  • Waters Helped Bank Whose Stock She Once Owned [Maxine]

    03/12/2009 3:22:06 AM PDT · by CutePuppy · 20 replies · 774+ views
    Wall Street Journal (public) ^ | March 12, 2009 | Susan Schmidt
    California Democrat Has Championed Minority-Owned OneUnited on Capitol Hill and Criticized Its Government RegulatorsWhen 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...
  • Political Interference Seen in Bank Bailout Decisions (Barney and the corrupt black bank)

    01/22/2009 8:44:55 AM PST · by milwguy · 4 replies · 659+ views
    wsj ^ | 1/22/2009 | DAMIAN PALETTA and DAVID ENRICH
    Troubled OneUnited Bank in Boston didn't look much like a candidate for aid from the Treasury Department's bank bailout fund last fall. The Treasury had said it would give money only to healthy banks, to jump-start lending. But OneUnited had seen most of its capital evaporate. Moreover, it was under attack from its regulators for allegations of poor lending practices and executive-pay abuses, including owning a Porsche for its executives' use. Nonetheless, in December OneUnited got a $12 million injection from the Treasury's Troubled Asset Relief Program, or TARP. One apparent factor: the intercession of Rep. Barney Frank, the powerful...