Swamp Watch: Rep. Maxine Waters

Swamp Watch: Rep. Maxine Waters

STEVE: THE DEMOCRATS ARE TAKING
OVER THE HOUSE AND THAT MEANS
SOME OF THEIR SWAMPIEST LEADERS
ARE TAKING OVER SOME VERY
IMPORTANT COMMITTEE.
ONE OF THEM IS IN LINE TO
REGULATE WALL STREET AND THE
FINANCIAL INDUSTRY HAS LITERALLY
BEEN CALLED ONE OF THE MOST
CORRUPT MEMBERS OF CONGRESS.
YES, HE'S BACK.
MAXINE WATERS IS TONIGHT'S
"SWAMP WATCH."
MAXINE WATERS HAS OF COURSE
BECOME NOTORIOUS FOR HER ROLE IN
FLIPPING UP POLITICAL WAR AND
VIOLENCE.
>> IF YOU SEE ANYBODY IN THE
CABINET IN A RESTAURANT, IN A
DEPARTMENT STORE, AT A GASOLINE
STATION, YOU GET OUT AND CREATE
A CROWD AND YOU PUSH BACK ON
THEM AND YOU TELL THEM THEY'RE
NOT WELCOME.
STEVE: BUT THAT IS FAR FROM THE
FIRST STAIN ON HER RECORD IN
CONGRESS.
FOR STARTERS WITH WATERS WAS THE
SUBJECT OF A HOUSE ETHICS
COMMITTEE INVESTIGATION IN 2010.
IN THE MIDST OF A FINANCIAL
CRISIS SHE ARRANGED A MEETING
WHEN THE TREASURY SECRETARY OF
ONE UNITED.
ONE UNITED GOT $12 MILLION IN
BAILOUT FUNDS HANDILY ENOUGH IN
MAXINE WATERS WHOSE HUSBAND WITH
A MAJOR SHAREHOLDER.
IN 2004 SHE AND HER HUSBAND EACH
SEPARATELY BOUGHT ONE UNITED
STOCK WORTH 250,000 AND HALF A
MILLION DOLLARS, HER HUSBAND
HELD SEPARATE STOCK WORTH
ANOTHER 250,000 TO HALF A
MILLION.
THAT SAME YEAR WATERS SOLD HER
ONE UNITED STOCK AND HER HUSBAND
SOLD WHERE BETWEEN A QUARTER ON
A HALF OF HIS HOLDINGS BUT HE
BECAME A MEMBER OF THE BANK'S
BOARD.
BY THE TIME MAXINE WATERS
SCHEDULED THE MEETING WITH THE
TREASURY SECRETARY, HER HUSBAND
OWNED 350,000 DOLLARS IN ONE
UNITED STOCK ALL OF WHICH WOULD
HAVE GONE DOWN THE DRAIN WITHOUT
THE BAILOUT MONEY SHE HELPED
SECURE.
HOW LOVELY FOR HER TO HAVE THE
POWER TOE PROTECT OR IN
FACTMENTS
INCTMENTS
HECTMENTS
HERTMENTS
HERINENTS
HERINVETS
HERINVESTMENTS.
THE SCANDAL LED THOSE IN
WASHINGTON TO NAME WATERS ONE OF
THE MOST CORRUPT MEMBERS OF
CONGRESS IN 2011.
IT'S NO SURPRISE THAT THIS
CHAMPION OF THE BOOR AND
DOWNTRODDEN OWNS MULTIPLE
PROPERTIES IN CALIFORNIA,
INCLUDING A MULTIMILLION DOLLAR
HOME THAT ISN'T EVEN IN HER
DISTRICT.
HERE'S ANOTHER WAY SHE BRINGS IN
THE CASH.
SLATE MAILERS, SAMPLE BAT LOTS
THAT WATERS SENDS TO 200,000
VOTERS IN THE LOS ANGELES AREA
HIGHLIGHTING THE LOCAL OFFICIALS
THAT WATERS ENDORSES.
WHAT'S WRNG WITH
WHAT'S WROG WITH
WHAT'S WRONGWITH
WHAT'S WRONG WTH
WHAT'S WRONG WITH THAT, YOU
MIGHT SAY.
SHE CHARGES TENS OF THOUSANDS OF
DOLLARS TO BE LISTED ON HER
MAILER.
WHEN SNRAN NAIR GAVIN NEW SOME
WAS RUNNING FOR LIEUTENANT
GOVERNOR HE PAID 45,000 FOR A
SPOT, CAMILLA HAIRS PAID TO BE
ON THE BALLOT.
GUESS WHO IS IN CHARGES OF THE
ORGANIZATION THAT RUNS THIS
SCHEME, NONE OTHER THAN WATERS'
DAUGHTER KAREN.
BUT HER HUSBAND IS IN ON IT TOO.
HE REPORTEDLY MADE NEARLY HALF A
MILLION DOLLARS WORKING PART
TIME AS A CONSULTANT TO AN
UNDERWRITING FIRM WHICH HE USED
TO COURT SOME OF THE POLITICIANS
TO PAY FOR SLATE MAILER
ENDORSEMENT.
IN ONE RESPONSE THE REPORTERS'
QUESTIONS ABOUT THESE SCHEMES TO
ENRICH HER FAMILY WATERS SAID,
QUOTE, THEY DO THEIR BUSINESS
AND I DO MINE.
WELL THAT'S ONE WAY OF PUTTING
IT I SUPPOSE.
HER HUSBAND SAID HIS WIFE FILES
ALL OF THE PROPER DISCLOSURE OF
HIS CLIENTS AND BEYOND THAT YOU
CAN'T ASK ME ANYTHING ABOUT MY
BUSINESS.
OF COURSE NOT.
YOU'RE MAKING MONEY OFF THE BACK
OF YOUR WIFE'S POSITION IN
CONGRESS.
HOW DARE ANYONE QUESTION THAT.
BUT THE CORRUPTION GOES MUCH
DEEPER.
IT'S INSTITUTIONAL CORRUPTION.
LOOK AT WHAT HE RECENTLY SAID
ABOUT THE BANKS ONCE SHE'S CHAIR
OF THE FINANCIAL SERVICES
COMMITTEE.
>> GOING TO DO TO YOU WHAT YOU
DID TO US.
>>
.>
STEVE: SO WHAT EXACTLY DID THE
FINANCIAL SERVICES INDUSTRY DO
TO YOU, MAXINE.
LINED YOUR POCKETS THAT'S WHAT.
YOU TOOK 10,000 FROM AMERICAN
EXPRESS, 11,000 FROM USB, 10
NOWRKS FROM STATE FARM
INSURANCE, 10 NOWRKS FROM THE
MANAGED FUNDS ASSOCIATION, 150
NOWRKS FROM THE MORTGAGE BANKERS
ASSOCIATION, 10 NOWRKS FROM THE
NATIONAL ASSOCIATION OF CREDIT
UNIONS, 10 NOWRKS FROM THE
NATIONAL ASSOCIATION OF
INSURANCE AND FINANCIAL ADVISERS
ALL TOLD WATERS BROUGHT IN
230,000 DOLLARS AND OVER 330,000
DOLLARS FROM THE INSURANCE
INDUSTRY SINCE SHE BECAME
RANKING MEMBER OF THE FINANCIAL
SERVICES COMMITTEE IN 2012.
ONCE SHE'S THE CHAIR OF THAT
COMMITTEE, YOU CAN BET HER
CONFLICT DONATIONS WILL
SKYROCKET AS A RESULT.
SHE ALSO BRINGS IN PLENTY OF
CASH FROM LOBBYISTS WHOSE
CLIENTS SHE REGULATES.
NOW THIS ONE IS SO UNBELIEVABLE
I THOUGHT IT WASN'T TRUE, BUT IT
IS.
ONE OF THOSE LOBBYISTS IS MIKE
RUSE WHO PREVIOUSLY SERVED WITH
WATERS IN THE CALIFORNIA STATE
ASSEMBLY.
IN 2009 HE WAS REPRESENTING A
CLIENT WHICH HAS SIGNIFICANT
BUSINESS INTERESTS IN THE
MORTGAGE INDUSTRY.
WATERS, HIS FRIEND OF 30 YEARS,
WAS THEN IN CONGRESS AND
CHAIRMAN OF THE FINANCIAL
SERVICES HOUSING SUBCOMMITTEE.
SO THEY WORKED TOGETHER TO PUSH
LEGISLATION THAT JUST HAPPENED
TO BENEFIT HIS CLIENTS YES
BOTTOM LINE.
BUT THIS TURNED OUT TO BE MUCH
MORE THAN A FAVOR FOR A FRIEND.
A CLOSE LOOK REVEALED THAT
WATERS' LOBBYIST FRIEND PAID HER
HUSBAND 15,000 DOLLARS AS A
CONSULTANT AT THE SAME TIME SHE
WAS SPONSORING THE LEGISLATION.
MAXINE WATERS IS UP TO HER NECK
IN THE SWAMP.
SHE'S USED HER PUBLIC OFFERS TO
PROTECT HER INVESTMENTS, BENEFIT
HER FRIENDS AND ENRICH HER
FAMILY ALL WHILE TAKING HUNDREDS
OF THOUSANDS OF DOLLARS IN
CONFLICT DONATIONS FROM MEMBERS
OF THE INDUSTRIES THAT SHE
REGULATES.
IF YOU SEE HER AT A RESTAURANT
OR IN A DEPARTMENT STORE OR A