Corporate Welfare

A Pot and a Kettle Walk Into a Bar…


Speaking of Maxine Waters, the Citizens for Responsibility and Ethics in Washington (CREW) says she's one of the 13 most corrupt politicians in Congress. The Wall Street Journal describes her as an enabler, considering that Waters used her position on House Financial Services Committee to push for bailout cash for OneUnited. The New York Times says she's family-oriented: Her husband was on the OneUnited "board until early last year and has owned at least $250,000 of its stock." And says OneUnited got in trouble with the FDIC "for 'unsafe or unsound banking practices,' including excessive compensation for its chief executive."

As Waters said in her remarks yesterday, there is indeed a "small group" creating public mistrust, and Waters is part of it. Sure, she can try to explain herself, as Geithner attempted to do yesterday. But the public should respond to her the same way she dismissed Geithner:

"I don't wanna get the nuances to the point where we misunderstand each other"

Reason contributor David Harsanyi called the government's reaction to AIG a phony outrage. More "public distrust" of Congress, AIG, and bailouts here