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September 27, 2012

U.S. Rep. Maxine Waters
U.S. Rep. Maxine Waters

Probe Clears U.S. Rep. Maxine Waters; Her Career is Ready to Take Off

by Frederick H. Lowe
The U.S. House of Representatives Ethics Committee, following a two-year investigation, has cleared U.S. Rep. Maxine Waters of alleged wrongdoing. Their finding paves the way for her to become the ranking Democrat on the House Financial Services Committee and possibly its chairman if Democrats retake the House in the November election.

Bob Goodlatte, a Virginia Republican and acting chair of the Ethics Committee, announced the panel’s decision on Friday.

Waters, a California Democrat, had been accused of the violating House rules by seeking federal financial assistance for OneUnited Bank, a Boston-based, African-American-owned, Internet bank that at one time had ties to her husband, Sidney Williams. He is a former U.S. Ambassador to the Commonwealth of the Bahamas and at one time was a OneUnited board member.


The House Financial Services Committee oversees the nation’s economy Billy Martin, an outside attorney for the Ethics Committee, determined, however, that Waters called Treasury Secretary Henry Paulson in 2008 on behalf of all minority banks, not just OneUnited. When she learned that OneUnited was seeking federal bailout funds, she discontinued her involvement, Martin said.

The House Ethics Committee’s decision clears a major roadblock for Waters to advance her congressional career.

Late last year when U.S. Rep. Barney Frank (D., Mass.) announced his retirement, it opened the door for Waters to become the ranking Democrat or possibly chairman of the House Financial Services Committee. It oversees the nation’s economy through the Federal Reserve Board, the U.S. Treasury and the production and distribution of currency.

Dr. David Bositis of the Joint Center for Political and Economic Studies, a Washington, D.C.-based think tank for black elected officials, said last year that Waters could gain the coveted post if the ethics committee cleared of the charges.

Waters, a St. Louis native, represents California’s 35th Congressional District, which includes South Central Los Angeles, Westchester, Playa del Rey and Inglewood.

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