"She [Congresswoman Maxine Waters] said she did try to help an association of minority-owned banks, which included OneUnited. They were in trouble partly because of their investments in troubled mortgage giants Fannie Mae and Freddie Mac." — AP, Jun 5, 2012
For nearly three years, Congresswoman Maxine Waters has been under investigation for improperly steering TARP funds to OneUnited Bank. Recently, a newly impaneled selection of legislators for the House Ethics Committee has ruled that her rights were not infringed during the course of the investigation.
I am amazed that this legislator has been permitted to stall her ongoing improprieties intermixed with the Housing Crisis and the Troubled Asset Relief Program (TARP) initiated in 2008. Sometimes, one gets the untimely impression that minority legislators get undue mercy just because other Congressmen are afraid of the "race card".
TARP was a bad idea from the start, but the South Bay Democrat's efforts to assist either one bank or an association of banks at the expense of the entire financial system is just reprehensible altogether.
When she is not shouting at a crowd of underemployed constituents that "the Tea Party should go straight to hell," she is expanding and micromanaging the role of the federal government in the financial sector of this country. Her economic policies are failing California voters. The interventions of stimulus dollars, excessive regulations, and medical insurance mandates, all supported by Waters at the outset of Obama's term in office, have made things worse for South Bay residents. Her deceiving and insulting rhetoric is dissuading segments of this country from embracing the free market reforms that will instill reform without harming individual liberty.
The reign of Queen Maxine must come to an end. The pandering of federal officials to minority voters must stop. The state of California no longer has a majority population by race, and the entire country is witnessing a significant and welcome shift in demographics, in which "minority" births are now the majority.
Even if Waters did not improperly tip her hand to send a $12 million bailout to her husband's bank, her overzealous efforts on behalf of "minority" banks is a crass anachronism of statist overreach which must be scrapped.
If this country's legislators want to do well by all citizens, they must remove from any favoritism in disbursing financial aid to hurting citizens (why not end the exorbitant welfare state altogether?), end the costly and wasteful drain of taxpayer dollars on shoring up failing banks and other private institutions, and demand full and prompt accountability from all of our Congressional representatives, no matter what their race, creed, or color.