ByÂ Larry Margasak-Associated Press
Information that forced postponement ofÂ Rep. Maxine Waters‘ ethics trial raises new questions about an investigative panel’s charges that the California Democrat improperly tried to steer federal bailout money to a minority-owned bank where her husband is a stockholder and former director.
A newly discovered e-mail written byÂ Mrs. Waters‘ chief of staff at the height of the 2008 financial crisis may have thrown a cloud over the case rather than offering investigators a smoking gun. The surfacing of the e-mail written by staff chiefÂ Mikael Moore, who also isÂ Mrs. Waters‘ grandson, has forced a delay in her ethics trial, which had been scheduled to begin Monday.
A key question is whetherÂ Mrs. Waters instructedÂ Mr. Moore to get assistance forÂ OneUnited Bank. Her husband’s investment in the Boston-based bank was in danger of becoming worthless during the near financial collapse of late 2008.
Mrs. Waters has contended she was simply trying to help all minority banks in trouble â€” and specifically those, likeÂ OneUnited, that were hurt by their investments in the then-collapsing mortgage giantsÂ Fannie MaeandÂ Freddie Mac.
TheÂ House ethics committee last week postponed indefinitely a Nov. 29 trial forÂ Mrs. Waters. a senior member of theÂ House Financial Services Committee, on three counts of violatingÂ House ethics rules and returned the case to an investigatory subcommittee to consider the new evidence.
Ethics trials are rare. Last week, theÂ ethics committee recommended that theÂ House publicly censure 20-termÂ Rep. Charles B. Rangel of New York for fundraising and financial conduct that violated congressional rules. It was only the secondÂ House trial proceeding in the past two decades.
The recently discovered e-mail had been sent byÂ Mr. Moore on Sept. 28, 2008, to staff aides for theÂ committee who were writing legislation that became theÂ Bush administration‘s controversial $700 billion TARPÂ â€” Troubled Asset Relief ProgramÂ â€” bailout for banks, insurance companies, auto companies and other financial institutions.
To read more, visit: http://www.washingtontimes.com/news/2010/nov/25/new-evidence-in-waters-ethics-case/
Don’t let the MSM censor your news as America becomes Great Again. Over 500,000 Americans receive our daily dose of life, liberty and pursuit of happiness along with Breaking News direct to their inbox—and you can too. Sign up to receive news and views from The 1776Coalition!
We know how important your privacy is and your information is SAFE with us. We’ll never sell
your email address and you can unsubscribe at any time directly from your inbox.