For This Old Socialist, Maxine Waters, Socialism Starts at Home - John Ransom - Townhall Finance Conservative Columnists and Financial Commentary - Page 1

For This Old Socialist, Maxine Waters, Socialism Starts at Home - John Ransom - Townhall Finance Conservative Columnists and Financial Commentary - Page 1: If you thought nation’s financial services were battered under Barney Frank and Chris Dodd, wait until you see who’s batting cleanup for the Democrats in the House.

Maxine Waters, the ranking Democrat on the Capital Markets and Government

Sponsored Enterprises Subcommittee of the House Financial Services Committee and who serves as the deputy whip for the Democrats in the House- and who will take over for Frank now that he is retiring - is embroiled in another scandal involving money and nepotism.

Waters apparently has paid family members close to $1 million from public or campaign funds since 2007, according to a recent report by Citizens for Responsibility and Ethics in Washington (CREW).

Waters, 74, is next in line of seniority on the House committee after Rep. Barney Frank retires this year. That means that if the Democrats capture back the House, Waters would exercise oversight authority over Fannie Mae, Freddie Mac, FHA, the Securities and Exchange Commission, the New York Stock Exchange and the NASDAQ, as well as all capital formation for new businesses… you know, just to name a few areas.

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