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In today's Financial Services Committee hearing on "Why Debt Matters," Ranking Member Maxine Waters (D-CA), underscored the importance of promoting growth and reducing income inequality through short-term increases in discretionary fiscal stimulus in order to reduce the nation's debt and deficit.
By William Alden, Ny Times Dealbook
Representative Maxine Waters, the ranking Democrat on the House Financial Services Committee, said on Tuesday that the proposed budget "fails to adequately fund our financial regulators."
Two primary regulators of Wall Street are preparing, once again, to make the most of scarce resources.
Congresswoman Maxine Waters, Ranking Member of the Financial Services Committee, released the following statement regarding the omnibus appropriations legislation.
"While this agreement is an improvement from the harmful funding levels called for by the sequester, I'm disappointed that the omnibus appropriations legislation fails to adequately fund our financial regulators, shortchanges many of our housing programs and declines to promote a strong global economy.
In the wake of the massive Target data breach that compromised more than 40 million credit and debit card accounts as well as the personally identifiable information of as many as 70 million consumers, Democratic members of the Financial Services Committee have called for an inquiry into the problem.
By Rachel Louise Ensign and Michael R. Crittenden, Wall Street Journal
The "Holding Individuals Accountable and Deterring Money Laundering Act" highlights some lawmakers' dissatisfaction with recent money-laundering penalties and provides a new roadmap for strengthening enforcement.
Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, released the following statement in anticipation of the nomination of Janet Yellen as Chairman of the Board of Governors of the Federal Reserve.
"President Obama's choice in nominating Janet Yellen to lead the Fed is both historic and important for our nation's economy. Ms. Yellen's experience as a former Chair of the Council of Economic Advisers, Regional Fed Bank President, and Vice-Chair of the Federal Reserve make her one of the most qualified people ever to be nominated.
In a speech on the floor of the House of Representatives, Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, today highlighted the serious consequences of the U.S. defaulting on its debt. Waters also urged Republicans to stop using the debt ceiling to push extremist ideology, calling for a vote on a clean debt-limit increase. She delivered the following remarks.
As prepared for delivery:
With only 13 days until the nation reaches its debt limit, and in the aftermath of the Department of Treasury's report on the impact of defaulting on our debt, Congresswoman Maxine Waters (D-CA) today called on Republicans to stop threatening the nation's economy to move their ideological priorities. She released the following statement:
"As if the consequences of a government shutdown are not bad enough, Republicans are now threatening to hold the full faith and credit of the United States hostage to advance their ideological agenda.
Congresswoman Maxine Waters authored the following opinion editorial for the American Banker:
In 2008 we saw the consequences of the risky, irresponsible lending and financial practices resulting from the false ideology that financial markets can somehow properly police themselves. Lax mortgage standards and an unhealthy amount of risk taken by financial institutions and other market participants led to an economy that was not rooted in reality.
Amanda Terkel & Zach Carter, Huffington Post
A majority of the Democratic women serving in the House of Representatives are urging President Barack Obama to nominate Janet Yellen as chair of the Federal Reserve, putting additional pressure on the president to reject economist Larry Summers, who is rumored to be the frontrunner.