Archive for the ‘Maxine Waters’ Category

Rep. Waters Demands Obama Clarify AIG Bonus Provision

March 21, 2009

Waters’ comments were the strongest criticism yet from a Democrat over the controversy that continues to grow.

Fox News

Rep. Maxine Waters, D-Calif., called on President Obama on Friday to explain what happened when a provision was added to his economic stimulus bill last month that allowed AIG employees to receive $165 million in bonuses.

Waters’ comments were the strongest criticism yet from a Democrat over a controversy that continues to grow.

Sen. Christopher Dodd, D-Conn, confessed Wednesday to adding language to a spending cap in the stimulus bill that specifically excluded executive bonuses agreed to before the bill’s passage. But he added that Treasury officials forced him to make the change to protect the government from potential lawsuits.

It was a reversal from Dodd’s position a day earlier, when he strongly denied he had anything to do with adding the provision.

“They’ve got some explaining to do,” Waters told Joe Scarborough on his WABC radio show Friday morning. “And I think the president is going to have to clarify to the American public what took place between Treasury and Mr. Dodd.

“Obviously, there appears to be some sort of an agreement that they would protect AIG from having to give those bonuses. I don’t know who said what and when,” she added. “Chris Dodd said he wrote the language but that he was pressured practically by Treasury. Maybe the president is not up to speed on what is going on, but I think it is going to have to be clarified.”

The provision added to the stimulus bill was a broad measure that applied to all companies receiving bailout money, not just AIG, though the AIG bonuses in particular have caused outrage in Washington and around the country after the insurance giant received more than $170 billion in federal aid.

The U.S. government now has an 80 percent stake in the company, which was hit hard by the downturn in the housing sector and by the failure of complex securities based on risky mortgages.

US President Barack Obama, seen here on January 29, 2009, sits ... 
US President Barack Obama, seen here on January 29, 2009, sits alongside Treasury Secretary Timothy Geithner.  Obama has to get his face out of the same photo with Geithner’s face….


Geithner, Obama Under Fire From Dem Maxine Waters

March 20, 2009

California’s Democratic Congresswoman Maxine Waters says Treasury Secretary Tim Geithner knew or certainly should have known about the Treasury’s approved bonuses for AIG employees.

She says President Obama must not have heard the full story on what Geithner knew and when he knew it.

Geithner Must Go To Save Obama “Face,” Regain Congressional, Voter Confidence

Obama, Geithner, Congress Squandering Confidence Needed For Recovery

Rep. Waters Demands Obama Clarify AIG Bonus Provision

Ms Waters was interviewed by Fox News.

The far left and liberal Waters has always been seen as a strong supporter of Barack Obama.

Her criticism of Obama Treasury Secretary may mean that other Democrats are tiring of Geithner and perhaps the president will be moved to replace him if enough Democrats speak out…..

Waters herself has been under fire.

In this Aug. 27, 2008 file photo, Rep. Maxine Waters, D-Calif., ... 

From Politico:
Rep. Maxine Waters’ reelection campaign lent $25,000 last August to a nonprofit run by the California Democrat’s daughter, according to campaign finance records. The funds were used to underwrite the costs of events at the Democratic National Convention in Denver, a campaign official said.

Waters herself serves on the board of the nonprofit group African-American Committee 2000 and Beyond, the lawmaker’s financial disclosure filings show.

Sidney Williams, the congresswoman’s husband, has also been a director of the nonprofit, according to recent tax filings for the group.

Read the rest:

Maxine Waters Helped Steer Bailout Funds to Bank With Family Ties

Culture of Corruption: Many Americans Losing Trust in Government?

Michelle Malkin:

Maxine Waters Helped Steer Bailout Funds to Bank With Family Ties

March 12, 2009

Do you think Nancy Pelosi will investigate her California pal Maxine Waters for conflict of interest?  There is still an ethics panel in the House, isn’t there?


When 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 regulators during congressional hearings. Last fall, she helped secure the bank a meeting with Treasury officials.

Read the rest from the Wall Street Journal:

[Rep. Maxine Waters] Getty Images

Rep. Maxine Waters, center, with Earvin “Magic” Johnson, left, and Ms. Waters’s husband, Sidney Williams, at the 2009 BET Honors Reception in Washington, D.C.