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Top banking regulators were taken aback late last year when a California congresswoman helped set up a meeting in which the chief executive of a bank with financial ties to her family asked them for up to $50 million in special bailout funds, Treasury officials said.
Representative Maxine Waters, Democrat of California, requested the September meeting on behalf of executives at OneUnited, one of the nation’s largest black-owned banks. Ms. Water’s husband, Sidney Williams, had served on the bank’s board of directors until early last year and has owned at least $250,000 in stock in the institution. Treasury officials said the session with nearly a dozen senior banking regulators had been intended to allow minority-owned banks and their trade association to discuss the losses they had incurred from the federal takeover of Fannie Mae and Freddie Mac. But Kevin Cohee, OneUnited’s chief executive, instead seized the opportunity to plead for special assistance for his bank, federal officials said.
“Here you had a tiny community bank that comes in and they are not proposing a broader policy — they were asking for help for themselves,” said Steve Lineberry, a former Treasury aide who attended the meeting. “I don’t remember that ever happening before.”
More from Ken Silverstein:
Ratio of the number of cicada eggs per square mile of southern New Jersey to the number of stars in the Milky Way:
Jeffrey Lockwood, University of Wyoming (Laramie)/American Museum of Natural History (N.Y.C.)
A Singaporean company unveiled Kissenger, a pair of plastic lips mounted on a large plastic egg, which transmits real-time interactive kisses to a distant lover. “I am not interested in the sexual uses for it,” said the device’s inventor. “We’ve taken several steps to minimize the creepiness.”
The practice of sexualized eyeball licking was causing conjunctivitis in Japanese sixth graders.
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