Maxine Wants Revenge
"La vengeance est un plat qui se mange froide" (“revenge is a dish best served cold”) is an oft-cited proverb from Pierre Choderlos de Laclos's novel Les Liaisons Dangereuses, published in 1782. A good line in a book or play, but a mentality that should have no place in the business of public policy. Such is not the case.
Last month an elected representative publicly stated that revenge is a part of her motivation and agenda when Representative Maxine Waters (D-CA) told a constituent gathering in Los Angeles that she is “going to do to you what you did to us.” The “you” Waters was referring to are players in the mortgage and banking industry. The odd twist here is that Waters is planning revenge on institutions for doing what she herself instructed them to do.
Waters, who was easily re-elected in the 2018 midterms with nearly 76% of votes cast, represents California’s 43rd congressional district which includes much of south-central Los Angeles. She appears poised to chair the House Financial Services Committee when Democrats assume control of the House of Representatives in January.
In a speech at The Proud Bird, a historic restaurant in L.A., Waters made clear her intentions upon assuming the chairmanship:
"I have not forgotten you foreclosed on our houses. I have not forgotten that you undermined our community. I have not forgotten that you sold us those exotic products, had us sign on the line for junk and for mess we could not afford. …What am I going to do you? What I’m going to do you is fair, I’m going to do to you what you did to us!”
A sitting House representative threatening U.S. businesses with retribution is remarkable enough, but retribution for what?
Apart from the dismissal of personal responsibility inherent in the idea that people were somehow forced into purchasing something they couldn’t afford, of note here is how the situation came about in the first place; how citizens of Waters’ community found themselves able to qualify for mortgages that were beyond their financial means. Making such loans is not in a lending institution’s best interests, so why would one do it? The institutions did it because Maxine Waters, among others, forced them to.
In the late 1990s and early 2000s a small cadre of House Democrats, most prominently Waters and Barney Frank (D-MA), worked in cahoots with then-CEO of Fannie Mae,Franklin Raines, to loosen mortgage lending standards and practices for the purpose of making homeownership a reality for a greater number of economically disadvantaged Americans. (Raines was subsequently embroiled in a scandal at Freddie Mac and Fannie Mae that resulted in him having to pay a record $24.7 million settlement.)
At the time Waters heaped praise upon banks and lending institutions for allowing people to sign on the line for loans they could not afford, saying in aSeptember 2003 hearing of the House Committee on Financial Services:
"Mr. Chairman, we do not have a crisis at Freddie Mac, and in particular at Fannie Mae, under the outstanding leadership of Mr. Frank Raines. Everything in the 1992 act has worked just fine. In fact, the GSEs have exceeded their housing goals. What we need to do today is to focus on the regulator, and this must be done in a manner so as not to impede their affordable housing mission, a mission that has seen innovation flourish from desktop underwriting to 100 percent loans.”
In later comments during the hearing, Waters made clear the true mission for Fannie and Freddie that Democrats had in mind, which was finding ways to get minorities into mortgaged houses even if they could not meet qualification requirements for standard loans, such as the ability to bring a down payment to the closing transaction or to borrow an amount in excess of typical underwriting limits.
“Since the inception of goals from 1993 to 2002, loans to African-Americans increased 219 percent and loans to Hispanics increased 244 percent, while loans to non-minorities increased 62 percent. Additionally, in 2001, 43.1 percent of Fannie Mae’s single-family business served low-and moderate-income borrowers….”
Congressional and public records alike show that at the time Waters was a staunch opponent of anything resembling more oversight of lenders or lending practices; thus, more and more loans were made to those least able to pay them back and most likely to default on them.
And default they have, which brings the story full circle to last month when Waters vowed revenge on those banks and lenders that have “done this” to her constituent communities. Sadly, many in those communities believe it. They believe the reason they lost their homes is because when they fell behind on payments and were foreclosed upon, it was because those big banks forced them to take out a loan they couldn’t afford -- without realizing that their congressional representative forced those banks to lend them the money in the first place.
As for Waters’ accusation of banking having done this “to us,” at last check there have been no foreclosure proceedings brought against her $4.69 million, 8-bedroom, 5-bathroom, 6,100-square-foot West Hollywood mansion.
http://mexicanoccupation.blogspot.com/2017/07/john-binder-californias-surrender-to.html
In 2013, California lawmakers passed legislation
that allowed illegal aliens to obtain driver’s licenses if they can prove to
the Department of Motor Vehicle (DMV) their identity and state residency. The
plan was one of the largest victories to date by the open borders lobby.… JOHN BINDER –
BREITBART.com
VIVA LA RAZA SUPREMACY,
WIDER OPEN
MAXINE
WATERS, LOUIS FARRAKHAN, ERIC HOLDER and BARACK OBAMA – RACIST, VIOLENT HATE
MONGERS!
JOHN BINDER
CALIFORNIA, HOME TO THE LA RAZA BARONESS NANCY
PELOSI, WAR PROFITEER DIANNE FEINSTEIN, HITLERMAL KAMALA HARRIS, MAD MAXINE
WATERS and HISPANDERING GAVIN NEWSOM….
MOVES CLOSER TO FINAL ANNEXATION BY MEXICO
DE FACTO CITIZENSHIP PER LA RAZA:
NO TEST, NO BACKGROUND CHECKS
ON CRIMINALITY, NO BACK TAXES, NO
FINES.... JUST JUMP STRAIGHT TO VOTING BOOTHS!
AND VOTE OFTEN!!!
http://mexicanoccupation.blogspot.com/2017/07/john-binder-californias-surrender-to.html
In 2013, California lawmakers passed legislation
that allowed illegal aliens to obtain driver’s licenses if they can prove to
the Department of Motor Vehicle (DMV) their identity and state residency. The
plan was one of the largest victories to date by the open borders lobby.… JOHN BINDER –
BREITBART.com
BEL AIR MAXINE WATERS AND HER CRACK ALLEY CONSTITUENTS
WALL STREET BANKSTERS AND THEIR BOUGHT
DEMOCRAT POLS PREPARE FOR THE NEXT WAVE OF BOTTOMLESS NO-STRING BANKSTER
BAILOUTS…
Will this one finish off the American economy?
*
Considering her record and documented
history of poor ethical and moral fitness, it’s outrageous that Maxine Waters
is up for chair of the ultra-powerful House Financial Services Committee, which
has jurisdiction over the country’s banking system, economy, housing, and
insurance.
*
*
"Wall Street billionaires
are pushing a new plan to swipe the profits of Fannie Mae and Freddie Mac from
U.S. taxpayers–and in the process revive the system of privatized-profits and
public-risk that contributed to the severity of the Great Financial
Crisis."
*
The Moelis plan stands out as
a strikingly bold grab for control of the companies and their profits. It calls
for the dividend payments to the Treasury to cease so that the companies can
rebuild capital. Shockingly, it also calls for the cancellation of the senior
preferred stock altogether–with no
compensation for the past risk and future profits currently
due to taxpayers. It is as if a company proposed to do a stock buyback by
proposing to cancel its shares rather than purchasing them for cash.
*
So
will Maxine Waters be the crusading financial protector of our 401k plans and
save America from the next financial bubble? Well, there will certainly be lots
of harassment and shakedowns. But don't count on her steering us clear of Wall
Street excesses. If history is any guide, Mad Maxine will be way too busy
raising money from the people she is now in charge of regulating. Stephen Moore is a senior fellow at The
Heritage Foundation
*
Waters,
who represents some of Los Angeles’ poorest inner-city neighborhoods, has also
helped family members make more than $1 million through business ventures with companies and causes
that she has helped, according to her hometown newspaper. While she and her
relatives get richer (she lives in a $4.5 million Los Angeles mansion), her constituents get poorer.
JUDICIAL WATCH
PATHOLOGICAL LIAR BARACK OBAMA MOCKS TRUMP
Obama orchestrated the greatest transfer of
wealth to the rich in U.S. history!
THE WALL STREET BOUGHT AND OWNED DEMOCRAT PARTY
SERVING BANKSTERS, BILLIONAIRES and INVADING ILLEGALS
THE CRONY CLASS:
Income inequality grows FOUR TIMES FASTER under
Obama than Bush.
“By the time of Bill Clinton’s election
in 1992, the Democratic Party had completely repudiated its association with
the reforms of the New Deal and Great Society periods. Clinton gutted welfare
programs to provide an ample supply of cheap labor for the rich (WHICH NOW
MEANS OPEN BORDERS AND NO E-VERIFY!), including a growing layer of black
capitalists, and passed the 1994 Federal Crime Bill, with its notorious “three
strikes” provision that has helped create the largest prison population in the
world.”
MAXINE
WATERS USES NAZIS TACTICS TO HARASS TRUMP
…. But where was her big mouth when Obama
and the Clinton were sucking in bribes and looting the poor of Haiti, or
operating a fraudulent slush fund charity????
"But
what the Clintons do is criminal because they do it wholly at the expense of
the American people. And they feel thoroughly entitled to do it: gain power,
use it to enrich themselves and their friends. They are amoral, immoral, and
venal. Hillary has no core beliefs beyond power and money. That should be clear
to every person on the planet by now."
---- Patricia McCarthy -
AMERICANTHINKER.com
Rep. Maxine
Waters is fine with Farrakhan. And the left is fine with Waters. Eric Holder
recently posed with Farrakhan. DANIEL GREENFIELD / FRONTPAGE MAG
Fannie Mae and
'Freddie Maxine'
https://www.cnsnews.com/commentary/stephen-moore/fannie-mae-and-freddie-maxine
White House report on socialism
The specter of Marx haunts the
American ruling class
Fannie Mae and 'Freddie Maxine'
https://www.cnsnews.com/commentary/stephen-moore/fannie-mae-and-freddie-maxine
Democratic Rep. Maxine Waters of
California appears a lock to become the next chairman of the House's powerful
Financial Services Committee. Waters is pledging to be a diligent watchdog
for mom and pop investors, and recently told a crowd that when it comes to
the big banks, investment houses and insurance companies, "We are going
to do to them what they did to us." I'm not going to cry too many tears
for Wall Street since they poured money behind the Democrats in these midterm
elections. You get what you pay for.
But here we go again asking the
fox to guard the henhouse.
Back during he the financial
crisis of 2008 to 2009, which wiped out trillions of dollars of the wealth
and retirement savings of middle-class families, we put the two major
arsonists in charge of putting out the fire. Former Democratic Sen. Chris
Dodd of Connecticut and former Democratic Rep. Barney Frank of Massachusetts
were the co-sponsors of the infamous Dodd-Frank regulations. Readers will
recall that good old Barney resisted every attempt to reign in Fannie Mae and
Freddie Mac and said he wanted to "roll the dice" on the housing
market. That worked out well.
Meanwhile, Dodd took graft
payments in the form of low-interest loans from Countrywide, while greasing
the skids for the housing lenders in these years. Instead of going to jail or
at least being dishonorably discharged from Congress, he wrote the Dodd-Frank
bill to regulate the banks.
Enter Maxine Waters. Back in
2009, I had a run-in with "Mad Maxine," as she is called on Capitol
Hill. The two of us appeared together on HBO's "Real Time With Bill
Maher," and when she pontificated about the misdeeds of the housing
lobby, I confronted her on the money she took from Fannie Mae and Freddie Mac
PACs for her campaign.
Here is how the conversation
went:
MAHER: Don't you think Wall
Street needs regulation? That's where the problem is: that there was no
regulation.
MOORE: Well, let's talk about
regulation. One of the biggest institutions that have failed this year was
Fannie Mae and Freddie Mac. This is an institution that your friends, the
Democrats, in fact, you, Congresswoman Waters, did not want to regulate. You
said it wasn't broke five years ago at a congressional hearing, and you took
$15,000 of campaign contributions from Fannie and Freddie.
WATERS: No, I didn't.
MOORE: Yeah, you did. It's in the
FEC (Federal Election Commission) records.
WATERS: No, it's not.
MOORE: And so did Barney Frank.
And so did Chris Dodd.
WATERS: That is a lie, and I
challenge you to find $15,000 that I took from Fannie PAC.
I have to confess that Waters is
very persuasive. I feared when the show was over that I had gotten my numbers
wrong and that I had falsely charged the congresswoman of corruption. But
several fact-checking groups looked it up, and sure enough, I was right. She
took $15,000 from the PAC and another $17,000, all told.
I was also right about her
statements during a 2004 congressional hearing when she said:
"Through nearly a dozen
hearings, we were frankly trying to fix something (Fannie and Freddie) that
wasn't broke. Chairman, we do not have a crisis at Freddie Mac, and
particularly at Fannie Mae, under the outstanding leadership of Franklin
Raines."
We learned the hard way just four
years later; this was all a fraudulent claim to avoid oversight of her
campaign contributors. Imagine if a Republican had said these things.
She took in more than $100,000
from Wall Street this year as well. None of this is illegal, but it calls
into question her shakedown tactics. First, she threatens to put their head
in a noose as chairman of the Financial Services Committee — as she is
getting them to pony up campaign contributions. Pay to play? You decide.
Waters has had run-ins with the
House Ethics Committee because of fundraising tactics and insider wheeling
and dealing. Back during the financial crisis, she was suspected of helping
arrange meetings with Treasury Department officials and getting bailout money
for OneUnited, a troubled bank that her family owned major stock holdings in.
She beat the rap of corruption, but it sure smelled bad.
So will Maxine Waters be the
crusading financial protector of our 401k plans and save America from the
next financial bubble? Well, there will certainly be lots of harassment and
shakedowns. But don't count on her steering us clear of Wall Street excesses.
If history is any guide, Mad Maxine will be way too busy raising money from
the people she is now in charge of regulating.
Stephen Moore is a senior
fellow at The Heritage Foundation and an economic consultant with
FreedomWorks. He is the co-author of "Fueling Freedom: Exposing the Mad
War on Energy."
|
|
Fannie Mae and
'Freddie Maxine'
https://www.cnsnews.com/commentary/stephen-moore/fannie-mae-and-freddie-maxine
Democratic
Rep. Maxine Waters of California appears a lock to become the next chairman of
the House's powerful Financial Services Committee. Waters is pledging to be a
diligent watchdog for mom and pop investors, and recently told a crowd that
when it comes to the big banks, investment houses and insurance companies,
"We are going to do to them what they did to us." I'm not going to
cry too many tears for Wall Street since they poured money behind the Democrats
in these midterm elections. You get what you pay for.
But
here we go again asking the fox to guard the henhouse.
Back
during he the financial crisis of 2008 to 2009, which wiped out trillions of
dollars of the wealth and retirement savings of middle-class families, we put
the two major arsonists in charge of putting out the fire. Former Democratic
Sen. Chris Dodd of Connecticut and former Democratic Rep. Barney Frank of
Massachusetts were the co-sponsors of the infamous Dodd-Frank regulations. Readers
will recall that good old Barney resisted every attempt to reign in Fannie Mae
and Freddie Mac and said he wanted to "roll the dice" on the housing
market. That worked out well.
Meanwhile,
Dodd took graft payments in the form of low-interest loans from Countrywide,
while greasing the skids for the housing lenders in these years. Instead of
going to jail or at least being dishonorably discharged from Congress, he wrote
the Dodd-Frank bill to regulate the banks.
Enter
Maxine Waters. Back in 2009, I had a run-in with "Mad Maxine," as she
is called on Capitol Hill. The two of us appeared together on HBO's "Real
Time With Bill Maher," and when she pontificated about the misdeeds of the
housing lobby, I confronted her on the money she took from Fannie Mae and Freddie
Mac PACs for her campaign.
Here
is how the conversation went:
MAHER:
Don't you think Wall Street needs regulation? That's where the problem is: that
there was no regulation.
MOORE:
Well, let's talk about regulation. One of the biggest institutions that have
failed this year was Fannie Mae and Freddie Mac. This is an institution that
your friends, the Democrats, in fact, you, Congresswoman Waters, did not want
to regulate. You said it wasn't broke five years ago at a congressional
hearing, and you took $15,000 of campaign contributions from Fannie and
Freddie.
WATERS:
No, I didn't.
MOORE:
Yeah, you did. It's in the FEC (Federal Election Commission) records.
WATERS:
No, it's not.
MOORE:
And so did Barney Frank. And so did Chris Dodd.
WATERS: That is a lie, and I
challenge you to find $15,000 that I took from Fannie PAC.
I
have to confess that Waters is very persuasive. I feared when the show was over
that I had gotten my numbers wrong and that I had falsely charged the
congresswoman of corruption. But several fact-checking groups looked it up, and
sure enough, I was right. She took $15,000 from the PAC and another $17,000,
all told.
I
was also right about her statements during a 2004 congressional hearing when
she said:
"Through
nearly a dozen hearings, we were frankly trying to fix something (Fannie and
Freddie) that wasn't broke. Chairman, we do not have a crisis at Freddie Mac,
and particularly at Fannie Mae, under the outstanding leadership of Franklin
Raines."
We
learned the hard way just four years later; this was all a fraudulent claim to
avoid oversight of her campaign contributors. Imagine if a Republican had said
these things.
She
took in more than $100,000 from Wall Street this year as well. None of this is
illegal, but it calls into question her shakedown tactics. First, she threatens
to put their head in a noose as chairman of the Financial Services Committee —
as she is getting them to pony up campaign contributions. Pay to play? You
decide.
Waters
has had run-ins with the House Ethics Committee because of fundraising tactics
and insider wheeling and dealing. Back during the financial crisis, she was
suspected of helping arrange meetings with Treasury Department officials and
getting bailout money for OneUnited, a troubled bank that her family owned
major stock holdings in. She beat the rap of corruption, but it sure smelled
bad.
So
will Maxine Waters be the crusading financial protector of our 401k plans and
save America from the next financial bubble? Well, there will certainly be lots
of harassment and shakedowns. But don't count on her steering us clear of Wall
Street excesses. If history is any guide, Mad Maxine will be way too busy
raising money from the people she is now in charge of regulating.
Stephen Moore is a senior fellow at The Heritage Foundation and
an economic consultant with FreedomWorks. He is the co-author of "Fueling
Freedom: Exposing the Mad War on Energy."
“A series of recent
polls in the US and Europe have shown a sharp growth of popular disgust with
capitalism and support for socialism. In May of 2017, in a survey conducted by
the Union of European Broadcasters of people aged 18 to 35, more than half said
they would participate in a “large-scale uprising.” Nine out of 10 agreed
with the statement, “Banks and money rule the world.”
White House report on socialism
The specter of Marx haunts the
American ruling class
Last month, the Council
of Economic Advisers, an agency of the Trump White House, released an
extraordinary report titled “The Opportunity Costs of Socialism.” The report
begins with the statement: “Coincident with the 200th anniversary of Karl
Marx’s birth, socialism is making a comeback in American political discourse.
Detailed policy proposals from self-declared socialists are gaining support in
Congress and among much of the younger electorate.”
The very fact that the
US government
officially acknowledges
a growth of popular
support for socialism,
particularly among the
nation’s youth,
testifies to vast changes taking
place in the political
consciousness of the
working class and the
terror this is striking
within the ruling
elite. America is, after all, a
country where
anti-communism was for the
greater part of a century
a state-sponsored
secular religion. No
ruling class has so
ruthlessly sought to
exclude socialist politics
from political
discourse as the American ruling
class.
The 70-page document is
itself an inane right-wing screed. It seeks to discredit socialism by
identifying it with capitalist countries such as Venezuela that have expanded
state ownership of parts of the economy while protecting private ownership of
the banks, and, with the post-2008 collapse of oil and other commodity prices,
increasingly attacked the living standards of the working class.
It identifies socialism
with proposals for mild social reform such as “Medicare for all,” raised and
increasingly abandoned by a section of the Democratic Party. It cites Milton
Friedman and Margaret Thatcher to promote the virtues of “economic freedom,”
i.e., the unrestrained operation of the capitalist market, and to denounce all
social reforms, business regulations, tax increases or anything else that
impinges on the oligarchy’s self-enrichment.
The report’s arguments
and themes find expression in the fascistic campaign speeches of Donald Trump,
who routinely and absurdly attacks the Democrats as socialists and accuses them
of seeking to turn America into another “socialist” Venezuela.
What has prompted this
effort to blackguard socialism?
A series of recent
polls in the US and Europe have shown a sharp growth of popular disgust with
capitalism and support for socialism. In May of 2017, in a survey conducted by
the Union of European Broadcasters of people aged 18 to 35, more than half said
they would participate in a “large-scale uprising.” Nine out of 10 agreed
with the statement, “Banks and money rule the world.”
Last November, a poll
conducted by YouGov showed that 51 percent of Americans between the ages of 21
and 29 would prefer to live in a socialist or communist country than in a
capitalist country.
In August of this year,
a Gallup poll found that for the first time
since the organization
began tracking the figure, fewer than half
of Americans aged 18–29
had a positive view of capitalism, while
more than half had a
positive view of socialism. The
percentage of young
people viewing
capitalism positively
fell from 68 percent
in 2010 to 45 percent
this year, a 23-
percentage point drop
in just eight years.
This surge in interest
in socialism is bound up with a resurgence of class struggle in the US and
internationally. In the United States, the number of major strikes so far this
year, 21, is triple the number in 2017. The ruling class was particularly
terrified by the teachers’ walkouts earlier this year because the biggest
strikes were organized by rank-and-file educators in a rebellion against the
unions, reflecting the weakening grip of the pro-corporate organizations that
have suppressed the class struggle for decades.
The growth of the class
struggle is an objective process that is driven by the global crisis of
capitalism, which finds its most acute social and political expression in the
center of world capitalism—the United States. It is the class struggle that
provides the key to the fight for genuine socialism.
Masses of workers and
youth are being driven into struggle and politically radicalized by decades of
uninterrupted war and the staggering growth of social inequality. This process
has accelerated during the 10 years since the Wall Street crash of 2008. The
Obama years saw the greatest
transfer of wealth from the bottom to the
top in
history, the escalation of the wars
begun under Bush and their spread to
Libya,
Syria and Yemen, and the
intensification of mass surveillance,
attacks by police state.
549 S Lucerne Blvd
Los Angeles, CA 90020
8 beds5 baths6,081 sqft
OFF MARKET
Zestimate®:$4,266,524
Rent Zestimate®: $24,815 /mo
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549 S Lucerne Blvd, Los Angeles, CA is a townhouse home that contains 6,081 sq ft and was built in 2000. It contains 8 bedrooms and 5 bathrooms.
The Zestimate for this house is $4,266,524, which has decreased by $657,970 in the last 30 days. The Rent Zestimate for this home is $24,815/mo, which has decreased by $567/mo in the last 30 days.
Facts and Features
Type
Townhouse
Year Built
2000
Heating
Other, Wall
Cooling
No Data
Parking
5 spaces
Lot
4.27 acres
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