As Politico is reporting, Waters is urging federal officials to include minority- and women-owned banks in its bailout plans.
"We are not going to sit back and allow billions of dollars to be dumped into this economy and watch the same old players be advantaged by it," Waters said. "We're not going to sit back and watch some of the players who are responsible for the economic mess we're in today be the recipients of these taxpayer dollars and provide services and make even more money despite the fact they have mismanaged their own businesses."Waters took some heat three weeks ago for setting up a meeting between Treasury Department officials and representatives of minority-owned OneUnited Bank. Waters and her husband have both invested in the firm, which was seeking a $50 million federal bailout due to its losses on investments Fannie Mae and Freddie Mac.
Waters' husband served on the board of the bank, which has been criticized by the FDIC for shoddy lending practices and for its executive compensation, which included a Porche SUV and a beachfront home for its CEO. Despite its problems, OneUnited ended up with $12 million in TARP funds.
Waters and the Congressional Black Caucus remain concerned, however, that minority- and women-owned banks will be left out when the government seeks private partners to invest in toxic securities. From a press release:
Congresswoman Waters cautioned against relying solely on a handful of major firms to fix the financial markets. "It doesn't make sense to trust just a few of the same old Wall Street firms with trillions of taxpayer dollars, especially since some of them are the same ones responsible for the crisis Americans are in now," she said.
She emphasized that our nation cannot afford to return to business as usual and must not exclude the talents of anyone. "In recent weeks, we have heard much about prominent banks and other institutions being 'too big to fail'. Today America's minority- and women-owned business enterprises are exclaiming, 'We have experience and qualifications that can help America out of the economic crisis, and we are too numerous to ignore,' and the CBC will make sure this does not fall on deaf ears."
It seems like OneUnited Bank is part of "the same ole payer." They were cited for given shoddy loans. Now that we have a black president, isn't time we get rid of affirmative action. I am a woman business owner and I don't want hand outs becauseI am a woman. Take some pride in yourself!!!!
What it comes down to is that if there's anything free being given away - especially money - Waters wants her share for "her people". It's the old ethnic entitlement mentality. She loves the Hand Outs. There's no better way to keep voters dependent on her then to ensure that when hand outs are given she secures a share for her constituents and family.