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Maxine Waters Tied To Bank She Helped

maxine_watersCalifornia Democrat Congresswoman Maxine Waters reportedly tried to secure a US $50 million loan for a bank she had family ties to.

The self-described “First Black-Owned Internet Bank,” OneUnited, was one of several minority-owned banks who got a special meeting with Federal regulators to talk about the losses they incurred after the Federal takeover of Fannie Mae and Freddie Mac. Ms. Waters’ husband, Sidney Williams, served on OneUnited’s board until early last year and had about US$250,000 in bank stock.

Regulators who attended the meeting were taken back by OneUnited’s approach. Kevin Cohee, OneUnited’s chief executive, boldy asked for a US $50 million bailout from the regulators. “Here you had a tiny community bank that comes in and they are not proposing a broader policy — they were asking for help for themselves,” said Stephen Lineberry, a former Treasury aide who attended the meeting. “I don’t remember that ever happening before.”

The bank did not get the US $50 million they wanted, but was one of the first to get money from the Troubled Asset Relief Program (TARP) to the tune of US $12 million.

“Although both my supporters and detractors often refer to me as influential, the truth is that I had no influence on what Bush administration officials in the Treasury Department or other departments did,” Waters said in a statement.

Related posts:

  1. House Ethics Probes Maxine Waters
  2. Charges Against Maxine Waters Revealed
  3. Probe “Birthers And Teabaggers” for “Racist Views”: Maxine Waters
  4. Waters May Face Ethics Trial
  5. Waters Knew Of Conflict Yet Acted Anyway

Posted in Democrat Scandals.

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6 comments

By NewsGuy – March 13, 2009

6 Responses

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  1. ETB says

    I wonder if anything will happen to her. DUH!

    March 13, 2009, 7:51 pm
  2. rjjrdq says

    How does this corrupt trash keep being reelected again and again? C’mon people pay attention!

    March 14, 2009, 4:14 pm
  3. DA says

    Brutto nero strega

    March 14, 2009, 5:51 pm

Continuing the Discussion

  1. House Ethics Probes Maxine Waters linked to this post on September 17, 2009

    [...] was revealed last March that Water’s husband, Sidney Williams, sat on the board of a bank that received Federal [...]

  2. Waters May Face Ethics Trial linked to this post on August 1, 2010

    [...] As previously reported, Waters reportedly tried to secure a US $50 million loan for the self-described “First Black-Owned Internet Bank,” OneUnited. Her husband, Sidney Williams, served on the bank’s board until early 2008 and had about US$250,000 in bank stock. [...]

  3. Waters Ethics Trial Suspended linked to this post on November 20, 2010

    [...] faces three ethics counts revolving around her association with self-described “First Black-Owned Internet Bank,” OneUnited. Her husband, Sidney Williams, [...]

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