A House ethics panel has released the charges against left-wing firebrand Rep. Maxine Waters (D-Calif.) arising out her shady dealings with OneUnited Bank. (Her family owns an interest in the bank, which got $12 million from taxpayers.) We previously described the controversy here.
This is the same congresswoman who once told a CEO in a public congressional hearing, “This liberal will be all about socializing . . . would be about, basically, taking over and the government running all of your companies.”
Having socialist leanings apparently doesn’t stop a politician from cozying up to banks like the terribly mismanaged OneUnited Bank–or supporting corporate welfare. In practice, socialism has nothing to do with equality, as its supporters claim; it’s just a way to justify taking and spending other people’s money.
Despite her ethical problems, Waters is a powerful lawmaker. She inserted racial preferences into the financial reform bill, which became law despite criticism from the Wall Street Journal and economists.