How Maxine Waters and Barney Frank let one bank repackage its problem as a national crisis. - By Bethany McLean - Slate Magazine

How Maxine Waters and Barney Frank let one bank repackage its problem as a national crisis. - By Bethany McLean - Slate Magazine: "On Nov. 29, Congresswoman Maxine Waters, D-Calif., will face a House ethics trial for the role she allegedly played in helping a minority-owned bank called OneUnited—a bank in which her husband owned a sizable stake and on whose board he'd once sat—get $12 million in the 2008 bank bailout. Had OneUnited failed, the ethics committee that brought the charges alleges, Waters' husband's 'financial interest in OneUnited would have been worthless.' The ethics committee alleges that Waters' chief of staff and grandson, Mikael Moore, was 'actively involved' in helping OneUnited and that Waters' 'failure to instruct [him] to refrain from assisting' the bank violated House rules. Waters has strongly denied the charges: 'No benefit, no improper action, no failure to disclose, no one influenced: no case.'"

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