(AP Photo) On Tuesday, House Democrats unanimously selected Rep. Maxine Waters (D-CA) to be the top Democrat on the House Financial Services Committee.
Waters will be the ranking member on the committee that deals with banking issues. Last year, the House Ethics Committee investigated Waters, one of the most partisan members of the Congressional Black Caucus, for allegedly using her position in Congress to bail out a bank in which her husband owned $350,000 worth of stock.
The Ethics Committee cleared Waters of any wrongdoing, because it could not find “clear and convincing evidence” that Waters used her influence and position to directly help OneUnited Bank secure a $14 million federal bailout from the TARP program. Six members actually recused themselves from the investigation.
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