Los Angeles Democrat, Maxine Waters has joined fellow Democrat Charles Rangel in giving pre election ethics headaches to the Democratic Party. Waters, who has served for over 3 decades in Congress, is accused of using her connections to obtain government bailout funds for a bank in which her husband has an interest. The Los Angeles Times reports as follows.
“One of Los Angeles’ most enduring black politicians, Waters came under scrutiny last year after Massachusetts-based OneUnited Bank, one of the nation’s largest minority-owned institutions, received $12 million in bailout funds.
The funding came three months after Waters, a senior member of the committee that oversees banking, helped arrange a meeting between officials of the bank, other minority-owned financial institutions and Treasury Department representatives.”
Waters claims to have disclosed her husband, Sidney William’s financial interest in the bank as well as his service on the bank’s board of directors. Additionally, she claims that her assistance to the bank was in keeping with her efforts to help promote economic opportunity for minorities in her district.
The conflict of interest allegations are another midterm election season headache for the Democrats, who would like to dispose of the charges with a perfunctory slap on the wrist. Waters, however defends her actions and could choose to do so in formal proceedings rather than make what she feels is an undeserved admission of guilt.
The accusations against Waters differ from those against Charles Rangel, whose alleged ethics violations span a long period of time and constitute a pattern of questionable behavior. Maxine Waters, on the other hand is accused of a specific set of actions, of helping a bank with which her husband has ties get preferential treatment. This does not constitute a pattern of actions over time, as do the alleged misdeeds of Charles Rangel.
Observers of past ethics panel proceedings in the past say that Maxine Waters could get away with a light reprimand. Punishment could extend as far as a public censure in front of Congress or even expulsion. The real fear of the Democrats, however is the backdrop in the minds of voters of corruption allegations juxtaposed to Nancy Pelosi’s much publicized declaration of intent to run an ethical Congress. The trials of Rangel and Pelosi in the court of public opinion are, of course what is on everyone’s mind. Those verdicts will be delivered in November.
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