Friday, March 13, 2009

Waters Helped Bank Whose Stock She Once Owned

MAXINE WATERS AND THE CULTURE OF CORRUPTION: Waters Helped Bank Whose Stock She Once Owned. "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."

UPDATE: More here: "Note that OneUnited is the same bank whose relationship with Barney Frank raised some eyebrows back in January. After receiving $12 million in bailout funds with Frank's help, the FDIC issued a cease-and-desist order against the bank, in part related to the fact that the bank was paying for the CEO's beach house and Porsche." The country's in the very best of hands.

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