Maxine Waters, Heister of TARP Funds, Named Top Democrat On House Financial Services Committee

Disgusting.

She helped secure TARP funds for a bank that her husband was part owner of, despite Barney Frank's warning to NOT do it.

But to Democrats she is a reasonable, responsible and ethical human being. 

Rep. Maxine Waters (D-Calif.) has been officially named the top Democrat on the House Financial Services Committee.

The outspoken liberal vowed Tuesday to protect the Dodd-Frank financial reform law from GOP attempts to dismantle it, while pursuing reform of housing finance with the new chairman, Rep. Jeb Hensarling (R-Texas).

While Waters and Hensarling rarely see eye to eye on policy, she said in a statement she hoped to “reconcile our visions” at the top of the banking panel. But she gave little indication she was willing to consider changes to the Dodd-Frank financial reform law, which Hensarling has harshly critiqued.

“I look forward to working with my colleagues to protect, defend and implement the important provisions of Dodd-Frank, which will continue to strengthen our financial system,” she said. “I understand that regulatory certainty is an important aspect of growing our economy, and remain committed to ensuring clear and transparent regulation which creates the space for innovation, safety and soundness.”

Keep reading…

This is a total Banana Republic move.

Here's another Banana Republic move:

Detroit Councilwoman To Obama: We Voted For You Now Show Us The Money!

City Council member JoAnn Watson said Tuesday the citizens support of Obama in last month's election was enough reason for the president to bailout the struggling the city. (Click the video player to listen) 

"Our people in an overwhelming way supported the re-election of this president and there ought to be a quid pro quo and you ought to exercise leadership on that," said Watson. "Of course, not just that, but why not?" 

Nearly 75 percent of Wayne County voters pulled the lever for Obama in November."After the election of Jimmy Carter, the honorable Coleman Alexander Young, he went to Washington, D.C. and came home with some bacon," said Watson. "That's what you do."

AND REMEMBER WHAT I SAID:

Prenbendalism: America, Under Obama, Is Beginning To Look Like A Degenerate "Prebendialist" State Such as Nigeria

From Wiki:

Richard A. Joseph, director of The Program of African Studies at Northwestern University, is usually credited with first using the term prebendalism to describe patron-client or neopatrimonialism in Nigeria. Since then the term has commonly been used in scholarly literature and textbooks.

The Catholic Encyclopedia defines a prebend as the "right of member of chapter to his share in the revenues of a cathedral."

Joseph used the term to describe the sense of entitlement that many people in Nigeria feel they have to the revenues of the Nigerian state.

Elected officials, government workers, and members of the ethnic and religious groups to which they belong feel they have a right to a share of government revenues.

Joseph wrote in 1996, "According to the theory of prebendalism, state offices are regarded as prebends that can be appropriated by officeholders, who use them to generate material benefits for themselves and their constituents and kin groups..."

As a result of that kind of patron-client or identity politics, Nigeria has regularly been one of the lowest ranked nations for political transparency byTransparency International in its Corruption Perceptions Index.

Other results include the corruption investigations into the activities of 31 out of 36 Nigerian governors, the frequent comments in the Nigerian press about the problems of corruption (for example, Victor E. Dike's article in the Daily Champion of Lagos, "Nigeria: Governance and Nigeria's Ailing Economy" and the common defenses of prebendalism as necessary for justice and equality in government funding (for example Oliver O. Mbamara's editorial, "In Defense of Nigeria: Amidst the Feasting of Critics" at Africa Events.

A Prebendalist State is a primitive state in which tribes send representatives to loot the Central authority for a region. The region functions as a state, even when it lacks natural cohesion other than that being vaguely defined in the aftermath of Colonialist rule.


Prebendalism is acknowledged as being active in post-colonial states like those of Nigeria and India.


Obama's 1) Identity Politics,  2) his allegiance to Union cronies,  and 3) the vote-buying system he uses to push his agenda, have turned America into a Prebendalist State. 


Given Obama's obsession with the evils of American Imperialism and "Colonialist" abuse, is it surprising that Obama's model for a working state is Africa?


It is possible, maybe even likely, that Obama sees minorities in America as being the victims of American Colonialism, just as much as Africans are. 


Therefore, because Prebendalism is a means for such victims to obtain "Justice" thought payment of something very much like Reparations, Obama seems to be instituting exactly the same kind of system, as if by design.

Whether it is intentional or not, the course we taking, into African-style Prebendalism, is absolutely frightening.