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Maxine Waters Targets Big Banks While Facing Campaign Questions

Will this presidential election be the most important in American history?

Democrat California Representative Maxine Waters is taking on the big banks but her campaign is facing legal questions.

Waters promised to examine the banking industry if the Democrats took over the House of Representatives and as Chairwoman of the Financial Sevices Committee, she is keeping her commitment.

The Wall Street Journal reports:

The hearing before the House Financial Services Committee marks an opening salvo in House Democrats’ plans to put the industry back in Washington’s crosshairs. It is expected to include the chief executives of JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp., Goldman Sachs Group Inc., Morgan Stanley and Wells Fargo & Co.

Rep. Maxine Waters, the new chairwoman of the financial-services panel, has pledged to review the activities of the banking sector. In a speech last week, the California Democrat said she planned to hold many hearings on the biggest banks.

Two big bank CEOs have already met with Waters in preparation for the House to look into their industry.

CNBC reports:

J.P. Morgan CEO Jamie Dimon and Goldman Sachs CEO David Solomon recently met in private with leading Wall Street critic Rep. Maxine Waters, who leads the powerful House banking panel, people with direct knowledge of the matter told CNBC.

Dimon and Solomon visited Washington to give Waters their perspectives on a wide range of topics, including where they stand on the economy, and left the door open to a continued dialogue with her, these people said on the condition of anonymity. It was unclear what specific ideas and concerns they expressed to Waters, a California Democrat who has vowed sharp scrutiny of Wall Street and its practices.

Waters’ campaign is facing questions about money sent to her daughter’s public relations firm and other matters.

Fox News reports:

The Citizens for Waters report to the Federal Election Commission from Dec. 11 lists $183,022 in debt to her daughter Karen Waters, who is in charge of distributing “slate mailers.”

The mailers have faced scrutiny since 2010 because the campaign, beginning in 2004, has paid Waters’ daughter or her public relations firm Progressive Connections to produce, print and mail the sample ballots. Watchdog groups have raised questions about the propriety of campaign funds financially supporting a family member, as well as Waters raising contributions in excess of federal limits through an unusual process. Since 2004, the campaign has paid the younger Waters almost $1 million, based on previous news reports.

Waters is going to investigate the banks which fit with the Democrat’s agenda of attacking capitalism.

Meanwhile, it looks like Waters needs to answer some questions about her own campaign.

Tom Borelli

Dr. Tom Borelli is a Newsmax TV contributor and radio commentator addressing political issues from a conservative grassroots perspective. As a columnist, he has written for The Washington Times and authored articles for Newsmax Magazine, Newsmax Insider and previously was a co-host with his wife Deneen Borelli on the SiriusXM Patriot channel. Dr. Borelli appeared on numerous television programs, including the highly ranked Fox News Channel’s “The O’Reilly Factor,” “Hannity,” “The Kelly File," and "America’s News Headquarters." He has also appeared on Fox Business Network’s “Making Money with Charles Payne” and “After the Bell” as well as TheBlaze TV’s "The Glenn Beck Program" and "Dana!" Prior to working for public policy organizations, Dr. Borelli was a managing partner with the investment advisory firm of Action Fund Management, LLC and a portfolio manager for the Free Enterprise Action Fund (FEAF) where he used shareholder activism to challenge corporations that sought to profit from the growth of government. During his 25 years with the Altria Group, Inc., he built a foundation in public policy and issues management, drawing from diverse experiences ranging from basic research to corporate affairs. Dr. Borelli served as science fellow for the U.S. House of Representatives' Committee on Science, Space, and Technology during the 100th Congress. Dr. Borelli has also published scientific papers on interferon and human leukemia.

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