When is maxine waters ethics trial

Twitter Facebook. Please enter email address to continue. Please enter valid email address to continue. Chrome Safari Continue. Be the first to know. Maxine Waters, D-California, on November 29 will not be held, according to an ethics committee statement released Friday. The committee decided to instead return the issue to investigators "due to materials discovered that may have had an effect" on the case, the statement said.

Waters, a term Los Angeles congresswoman, is alleged to have helped steer federal bailout money to Massachusetts-based OneUnited Bank, in which her husband had a financial stake. Waters has repeatedly denied any wrongdoing and insisted she will not cut a deal with the committee. She has also complained that the investigation has lasted more than a year without a trial.

The ethics committee's "decision to cancel the hearing and put it off indefinitely demonstrates that the Committee does not have a strong case and would not be able to prove any violation has occurred," Waters said in a statement after the decision was announced. Another difficulty in proving the violations: the provision by itself did not qualify any bank for bailout money. All banks applying for bailout funds had to meet a number of Treasury thresholds to get the assistance.

The Fannie-Freddie section merely instructed Treasury not to overlook banks that lost money due to their investments in the mortgage companies. Both Fannie Mae and Freddie Mac were taken over by the government. Waters has acknowledged that in early September , she asked then-Treasury Secretary Henry Paulson to arrange a meeting between Treasury officials and a trade group of minority-owned banks.

The purpose was to assist institutions harmed by the devalued Fannie and Freddie stock, she said. While Waters did not attend, the two representatives of the National Bankers Association at the meeting were OneUnited's chief executive officer and its senior counsel — who also was chairman-elect of the association. No other bank was represented. Waters has contended that she was acting solely on the request of the association, and argued that she never made any request to Paulson on what should be done.

If OneUnited had not received federal financial help, the charges said, the investment could have become worthless. IE 11 is not supported. For an optimal experience visit our site on another browser. Politics Covid U.