Sweetness & Light reports:
DEMOCRAT GOT $12M BAILOUT FOR HUSBAND’S BANK
Democrat Congresswoman Maxine Waters (D-CA) 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…
● OneUnited’s executives have donated $12,500 to Ms. Waters’s election campaigns…
● Ms. Waters acquired OneUnited stock worth between $250,000 and $500,000…
● Ms. Waters reported that her husband held between $250,000 & $500,000 worth of the bank’s stock.
● Mr. Williams also received interest payments from a separate holding at the bank, also worth between $250,000 and $500,000…
● Ms. Waters acknowledged she made a call to the Treasury on OneUnited’s behalf…
● OneUnited eventually secured bailout funds under the government’s $700 billion Troubled Asset Relief Program (TARP)…
● The bank received $12 million of TARP money, which arrived in December.
Also read:
RAP SHEET: Democrat Maxine Waters
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March 13, 2009 at 2:06 am
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