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Severe Sanction Unlikely in Waters Case


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severe-sanction-unlikely-in-waters-case-20120920#.UFuQ9-6YvLM.twitterNational Journal:


The Ethics Committee is signaling that it will not ask the full House to reprimand, censure, or expel Rep. Maxine Waters, D-Calif., as a result of its long-running conflict-of-interest probe involving federal bailout money.


What exactly the committee will do will officially be revealed during a vote at a public hearing on Friday morning.


The hearing is expected to bring a conclusion, finally, to the panel's probe into whether Waters improperly intervened on behalf of a bank in which her husband had a financial stake. The bank at the heart of the matter did get $12 million in bailout money in December 2008, but Waters contends she was acting on behalf of all minority-owned banks.


If the Ethics Committee does not ask the House to consider severe disciplinary sanction against Waters, the second-ranking Democrat on the Financial Services Committee, would seem to have clear sailing to rise to the top Democratic spot on that panel next year with the retirement of ranking member Rep. Barney Frank, D-Mass.


The announcement of the hearing came on Thursday from acting House Ethics Chairman Bob Goodlatte, R-Va., and acting ranking member John Yarmuth, D-Ky., without explanation of what, precisely, its purpose was.


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California Democratic Rep. Maxine Waters won't be charged with ethics violations following allegations she steered a $12 million federal bailout to a bank where her husband owns stock.


House Ethics Committee members said Friday at a hearing their investigation found no violation by Waters, a senior member of the House Financial Services Committee.


However, the committee said Waters' chief of staff, Mikael Moore, did take actions in Congress in an attempt to help the bank and violated House standards of conduct. Moore likely will receive a letter admonishing him for his conduct but will not face more severe punishment, such as a reprimand, by the full House.


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