by Axios | Updated on 11.19.18
Democratic Rep. Maxine Waters is proposing a new direction for the House Financial Services Committee, which she will almost certainly lead in the next Congress, Axios has learned.
Between the lines: The most notable proposed change: is lumping oversight of “International Financial Institutions" — which could mean anything from the World Bank to foreign banks — with the existing Terrorism and Illicit Finance subcommittee, while scrapping the Monetary Policy and Trade subcommittee.
Background: Waters has been fixated on going after international financial institutions for their potential roles as laundromats for bad actors like Russia and China.
Other proposed changes to the House Financial Services Committee include dropping insurance from the "Housing and Insurance" subcommittee, and renaming it "Housing and Community Development."
The bottom line: It's common for new leaders to shift the agenda of subcommittees, but the proposals are a strong signaling of priorities for Waters.
Written by Axios
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Yes - I want us involved with global banking- not paying attention in that arena is how we got into our last global financial meltdown - under George W. how quickly we forget or perhaps swallowed the GOP/Conservative Kook [sic] Aid and didn’t know in the first place. You go Maxine.
For what purpose. Is this another way of saying, I want to impeach our President. I think it’s time to investigate her. She isn’t Lilly white. The Republican Party should start taking legal action on her. What is her mandate. Let the public know her motives. In case she’s unaware of how much of our tax payers will be spent on this new rabbit hole. Between 5 & 10 million. Why because she wants to seePresident Trumps income taxes. Advance notice of how this ends. President does not release his Income Taxes. It’s nobodies business. It won’t have any impact on his re-election. Total waste of taxpayers money but Democrats will have some talking points for 2020. The Democrats are loosing thousands to Independents.
I am all for monitoring the US activities of foreign banks doing business in the US. Last I checked, the US doesn’t have the power to monitor foreign activities of foreign banks. Oh, and by the way, there has been zero evidence linking President Trump to any Russian money laundering. Nice try though.
Maybe they should target Maxine Waters and find out how she made so much money as a public Servant.
We are not the global police, the CIA, FBI and how many others we don’t know about to monitor financial transactions and investigate, do they not have better things to do to help the American people..... why not overhaul the FICO rating system, help students with debt, get the government out of backing big banks, colleges and business, a balance budget. Sounds like another activity to waste Taxpayers money for our welfare government representatives.
The CFPB is not holding banks accountable for their wrong doing. Sent records to all 3 branches of the United States of America government proving it. Not one of them did anything to stop it , in fact they made things worse.
God help us with that lunatic Maxine Waters in charge of anything
I definitely want increased oversight of financial institutions that rake in record profits while paying their executives astronomical salaries and benefits. If these institutions are not being held accountable for the ways they manage their money, treat their customers, and follow regulations, then we are at the same risk we were at the beginning of the financial crisis in the last decade. If Maxine finds reason to better protect Americans from these institutions and keep us from another financial crisis, then she should act.
Time to rein in the behavior of big banks/financial institutions, here and worldwide.
If they are investigated and found to havecommitted crimes absolutely they should be charged and prosecuted.
This is a complicated issue. Waters has made no secret of her opinions and goals. However, since: 1)Deutsche Bank has already been caught laundering at least $10,000,000 for Russia, 2) Deutsche Bank remains the bank of choice in the Trump family, (which raises other questions, in light of his “America First” slogan), 3) The Trump Org is also closely linked to Russian money laundering through their property and apartment sales, 4) The potential for harm to our system of government is great, it does seem prudent to look closer at this bank, and others doing business with Americans. In addition, it only makes sense to end duplication, and consolidate committees when possible. I think it can’t hurt to see what Waters does. I prefer to have both parties engaged in government. Oversight is overdue, and will give me more confidence about our government.
Should we monitor those who robbed the LIBOR of trillions, tax evasion in the Panama Papers and Cayman Islands, world banks lending with national tax dollars that citizens are completely unaware of? Buying risky ventures without acquiring the risk of the financial instrument creating moral hazard, and those responsible for falsifying bond and stock index ratings that caused a global meltdown in 2008? Sovereign wealth funds buying financial instruments instead of investing in their own infrastructure? Should we monitor them? YES
If international banks make it their business to meddle in our affairs and aid criminals then their should be investigations into their practices.
Water head don’t this job. Kick her out. Asap
Maxine waters is an idiot. I wouldn’t want her piloting a canoe...let alone a Congressional Committee.
Global banks are where “Trump does his laundry”😉
Yes global banks are out of control. There is far to much corruption & money laundering.
You have the power to stop crime!