Maxine Waters (D) case delayed via Democratic incompetence?

That’s what the Washington Post reports, at least (H/T: The Daily Caller).  To refresh people’s memories: Rep. Waters used her position on the House Financial Services Committee to intervene on behalf of OneUnited Bank, which happens to be a bank with a personal connection with Waters.  The case was set to go in September, only to be delayed at the last second.  It will be looked at in the next Congress, much to the displeasure of Democrats.

Highlights from the WaPo article:

  • The ostensible reason for the delay of the Waters case is that new information in the investigation was suddenly deemed necessary for a proper prosecution.  Current Ethics chair Zoe Lofgren (D) took this event as an opportunity to try to get two investigators fired; this was blocked by Rep. Jo Bonner (R), who is the current Ranking Member*.
  • Lofgren allegedly mucked up the investigation from the start by not being aggressive on subpoenaing either Rep Waters and/or Rep. Barney Frank (chairman of Finance) and his staff.
  • Lofgren also allegedly encouraged an unseemly haste to the proceedings, from trying to lock in a pre-election trial date to cutting investigators’ allotted time to present their case by four-fifths.
  • By all accounts, Lofgren had also not prepared herself or her committee for a scenario where Rep. Waters was prepared to fight the charges; thus creating a leadership crisis when Waters did not make a deal.

Continue reading Maxine Waters (D) case delayed via Democratic incompetence?

Jan Schakowsky (D, IL-09) saves Shorebank after all.

Back in May it was reported that the failing, yet politically-connected Shorebank in Illinois was to be bailed out.  The bank actually closed last Friday, but was resurrected yesterday and turned into a new bank – one that will of course have no obvious relationship to Rep. Jan Schakowsky (IL-09), who lobbied very strenuously to save Shorebank… even though it’s not based in her district.  It is, however, the bank that Schakowsky’s convicted felon husband Robert Creamer used to partially extricate himself from the consequences of his fraud scheme; the bank provided critical assistance to Creamer that allowed him to avoid default – which would have beneficial effects on his sentencing a decade later*.  There is a strong whiff of this transaction being part of a quid pro quo – with the latter half being paid off, well, right about now.

If you’re wondering why Jan Schakowsky can get away with having her and her husband being  tied up in a dirty bank deal without censure by the House of Representatives, while Rep. Maxine Waters is currently facing ethics charges for her and her husband’s involvement with OneUnited, the answer’s easy: Schakowsky is white, and is thus simply fundamentally real to Democratic leadership in a way that no African-American Member of Congress could hope to be to them.  It should not be a surprise that House ethics investigations are being allowed to continue only against those legislators whose seats are considered locked-in by the Democrats anyway.

Yes, let me clear: I’m explicitly calling the House Democratic leadership a bunch of racists.  They are, you know.  And it’s never more obvious than when you consider the things that they don’t do, when they don’t have to.

Moe Lane

PS: Joel Pollak is the GOP candidate for IL-09, and he’s been all over this topic.  I’ve met him: he’s a good guy.  Check him out.

Continue reading Jan Schakowsky (D, IL-09) saves Shorebank after all.

Your “NO! Really? Who would have thought it?” headline of the day.

Banks with political ties got bailouts, study shows

(Via Drudge)  Oddly enough, Reuters completely forgot to mention any particularly egregious examples.  This one in particular: you’d think that they would have wanted to do some actual reporting on skulduggery.

OneUnited Bank in Massachusetts got aid after Rep. Barney Frank (D-Mass.) inserted language into the bailout bill that effectively directed Treasury to give the bank special consideration. Rep. Maxine Waters (D-Calif.) also helped the bank, in which her husband held shares, by arranging a meeting between government officials and a group including OneUnited’s chief executive. The bank got $12.1 million last December, but it has made only a single dividend payment. It has now missed payments in three straight quarters, and it is not required to make up the missed payments.

You’d think.