It’s been a rough week for the Congressional Black Caucus as another member becomes the target of an ethics violation. Last week, Charles Rangel was hit with 13 charges of ethics violations. The Democrat hoped to negotiate a deal with his contemporaries, but such a deal fell through when Republicans refused to acquiesce. Now, Democrat Maxine Waters is facing trouble.
Waters has been under investigation for a possible conflict of interest involving a bank that was seeking federal aid. Her husband owned stock in the bank and had served on its board.
Waters came under scrutiny after former Treasury Department officials said she helped arrange a meeting between regulators and executives at Boston-based OneUnited Bank without mentioning her husband’s financial ties to the institution.
Her husband, Sidney Williams, held at least $250,000 in the bank’s stock and previously had served on its board. Waters’ spokesman has said Williams was no longer on the board when the meeting was arranged.
Waters has said the National Bankers Association, a trade group, requested the meeting. She defended her role in assisting minority-owned banks in the midst of the nation’s financial meltdown and dismissed suggestions she used her influence to steer government aid to the bank.
“I am confident that as the investigation moves forward the panel will discover that there are no facts to support allegations that I have acted improperly,” Waters said in a prior statement.
As for the American public, we’re relieved that House Speaker Pelosi has assured us that she will operate the most ethical Congress ever.
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