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Letters Bolster Waters' Claim On Bank Conflict
Rep. Maxine Waters is stepping up her campaign to show she took no inappropriate action on behalf of OneUnited bank.
Waters' office has released to TPM two letters sent by the National Bankers Association (NBA), a trade group for minority-owned banks, to the Treasury Department, in reference to a September 2008 meeting Waters had helped set up between NBA and Treasury. The letters appear to back Waters' contention that the meeting, at which OneUnited's CEO reportedly asked explicitly for bailout money, was not set up exclusively to help OneUnited, but rather on behalf of minority-ownded banks more broadly.
That doesn't contradict anything the New York Times reported, it's worth noting. But it does appear to bolster Waters' claim, made in a statement she put out earlier today, that she wasn't looking out for OneUnited's interests above those of other minority-owned banks. Waters has long been an advocate in Congress for minority-owned banks.
Waters also released a 2007 document showing that she disclosed her ties to OneUnited -- her husband had previously served on the board, and owned stock -- before questioning witnesses at a House hearing on minority-owned banks.
It seems clear that Waters should have disclosed those ties again when she set up the 200 meeting. But it also appears that that meeting, which Waters has said she didn't attend, was arranged on behalf of minority banks broadly, not as a way to benefit OneUnited.
Given the general level of greed and hypocrisy we've seen in regard to the bailout, this looks at this point like a minor misstep.

















Go Maxine!!!
March 13, 2009 7:50 PM | Reply | Permalink
It seems the trend is for Democrats to come out of these situations that could ruin their credibility by presenting "just that facts, mam". I know this is a great disappointment to the hate-mongering Republicans who have always had Waters in their sites for making trouble for her. After 8 years of malfeasance by G. W. Bush, all this two-stepping by his fellow Republicans seems to be par for the course. Never own up to their own malfeasance but always attempt to change the subject by trying to impugn the words of a Democrat. Nice to see that it no longer works all that well for them.
March 14, 2009 1:39 AM | Reply | Permalink
"this looks at this point like a minor misstep."
It doesn't even look like a minor misstep.
A black woman advocating for minority owned banks being unexpected or being considered a misstep? Give me a break.
.
March 15, 2009 11:11 PM | Reply | Permalink