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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:
Perspective — October 23, 2013, 8:00 am
How pro-oil Louisiana politicians have shaped American environmental policy
Postcard — October 16, 2013, 8:00 am
A trip to one of the properties at issue in Louisiana’s oil-pollution lawsuits
On a Friday evening in January, a thousand people at the annual California Native Plant Society conference in San Jose settled down to a banquet and a keynote speech delivered by an environmental historian named Jared Farmer. His chosen topic was the eucalyptus tree and its role in California’s ecology and history. The address did not go well. Eucalyptus is not a native plant but a Victorian import from Australia. In the eyes of those gathered at the San Jose DoubleTree, it qualified as “invasive,” “exotic,” “alien” — all dirty words to this crowd, who were therefore convinced that the tree was dangerously combustible, unfriendly to birds, and excessively greedy in competing for water with honest native species.
In his speech, Farmer dutifully highlighted these ugly attributes, but also quoted a few more positive remarks made by others over the years. This was a reckless move. A reference to the tree as “indigenously Californian” elicited an abusive roar, as did an observation that without the aromatic import, the state would be like a “home without its mother.” Thereafter, the mild-mannered speaker was continually interrupted by boos, groans, and exasperated gasps. Only when he mentioned the longhorn beetle, a species imported (illegally) from Australia during the 1990s with the specific aim of killing the eucalyptus, did he earn a resounding cheer.
Percentage of Britons who cannot name the city that provides the setting for the musical Chicago:
An Australian entrepreneur was selling oysters raised in tanks laced with Viagra.
A tourism company in Australia announced a service that will allow users to take the “world’s biggest selfies,” and a Texas man accidentally killed himself while trying to pose for a selfie with a handgun.
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“Shelby is waiting for something. He himself does not know what it is. When it comes he will either go back into the world from which he came, or sink out of sight in the morass of alcoholism or despair that has engulfed other vagrants.”