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ICYMI: Waters Listed #2 on The Root Magazine’s “7 People to Watch in 2015”

January 9, 2015
Press Release

WASHINGTON, D.C. – On Tuesday, the Root Magazine listed Rep. Maxine Waters (CA-43) as number two on its list of “People to Watch in 2015,” acknowledging her efforts as the Ranking Democrat on the House Committee on Financial Services and for her leadership in “tackling” economic issues important to moderate and middle income Americans.


ICYMI: “She moved up as ranking Democrat on the powerful House Financial Services Committee, where, in 2015, she’ll be a gigantic thorn in the side of the majority as it tries to repeal the Wall Street reform law known as Dodd-Frank. In the wake of a recession that destroyed over a quarter of the black middle class, Waters is someone African Americans will need in their corner. She’ll be loudly tackling a number of critical economic issues that we don’t hear enough about.” – The Root

See what else the media is saying about Rep. Maxine Waters:


Rep. Waters led a Democratic effort to stop Republicans from watering down important rules passed as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act


  • Politico: “Democrats stopped the House today from passing a package of 11 proposals that would have revised derivatives rules in the 2010 Dodd-Frank law, delayed restrictions on collateralized loan obligations in the so-called Volcker Rule and eased SEC disclosure requirements… Democratic votes were needed for passage and House Minority Leader Nancy Pelosi and House Financial Services ranking member Maxine Waters rallied opposition to the bill, citing concerns with the Volcker provision.”


  • CQ Roll Call (Banking & Finance): “The House is voting on it under a suspension of the rules, which allows for expedited consideration of the bill with no opportunity for amendment. Passage would require a two-thirds majority. While many provisions have previously attracted bipartisan support, Democratic critics hope to deny Republicans the two-thirds threshold, in part by arguing that the bill did not receive adequate consideration by lawmakers. ‘The process being used to consider these bills is unfair, lacks transparency, and is a poor way to debate important policy issues,’ Rep. Maxine Waters of California, the top Democrat on the Financial Services Committee, said in a letter to colleagues urging opposition.”


  • Think Advisor: “Democrats defeat eleven-bill package by a vote of 276-146. One of the bills would delay Volcker Rule implementation another two years. House Democrats pulled together Wednesday to defeat a package of bills being considered on the House floor designed to water down the Dodd-Frank Act. The House was set to consider the eleven-bill legislative package, H.R. 37, the Promoting Job Creation and Reducing Small Business Burdens Act, which Rep. Maxine Waters, R-Calif., said was within the purview of the Financial Services Committee, but has been brought to the House floor ‘without regard for due process or the opportunity for robust debate.’” [ Think Advisor, 1.7.2015]


Rep. Waters led the fight to oppose the so called “Cromnibus” spending bill that included Republican riders, allowing financial institutions to make risky bets with tax payers’ dollars

  • The Washington Post: “Rep. Maxine Waters (D-Calif.), who joined Warren, said there were ‘scores’ of congressional Democrats opposing the bill right because of the banking regulation change. She said that conservative opposition to the bill gives House Democrats some sway. ‘If they are expecting Democratic votes to put this out, then that gives us leverage. And I am hopeful we are able to use that leverage to pull this out’ said Waters, the top-ranking Democrat on the Financial Services Committee.”  [The Washington Post, 12.10.2014]


  • New York Times: “As The New York Times reported last year, lawmakers adopted nearly every word of Citigroup’s plan in drafting a bill. The bank’s recommendations are reflected in more than 70 of the 85 lines of that bill. ‘I am disgusted that in a back room deal, some members and lobbyists for the largest banks are trying to undo a seminal component of the Wall Street Reform Act,’ Representative Maxine Waters, the ranking Democrat on the House Financial Services Committee, said in a statement on Tuesday. ‘This legislation, which according to the New York Times was primarily authored by lobbyists at Citigroup, would be a huge gift for Wall Street’s largest banks.’” [NYT,12.9.2014]


  • CNN: “California Rep. Maxine Waters, the top Democrat on the House Financial Services Committee, tweeted Thursday afternoon that she was ‘rallying Democrats in strong opposition to #CRomnibus to stop the Wall Street giveaways and bank bailouts,’ with a photo of a meeting of nearly a dozen Democratic lawmakers in her office. She wrote a letter to colleagues earlier that day saying ‘if there was ever a time to fight for Democratic values, that time is now.’" [CNN, 12.11.2014]


  • Reuters: “‘I am increasingly optimistic that House Democrats will come together to defeat this effort to protect Wall Street's biggest banks,’ said Representative Maxine Waters, the top Democrat on the House Financial Services Committee. She said many Democrats spoke out against the provision at a meeting Thursday morning. Aides to House Democratic leaders said, however, that they were not actively campaigning to defeat the bill.” [Reuters, 12.11.2014]


  • The Hill: “The top House Democrat on the Financial Services panel says she’s ‘increasingly optimistic’ a spending bill will be blocked unless changes to the Wall Street reform legislation are stripped from the package. ‘I am increasingly optimistic that House Democrats will come together to defeat this effort to protect Wall Street's biggest banks,’ Rep. Maxine Waters (D-Calif.), the panel's ranking member, said in a statement. Liberals are up in arms over the Wall Street reform changes included in the $1.1 trillion government-funding package, though it appears many lawmakers are ready to approve the legislation to keep the government open.” [The Hill, 12.11.2014]


  • American Banker: “Rep. Maxine Waters, the top Democrat on the House Financial Services Committee, led the fight in the House to oppose the bill, even in the face of calls by President Obama to vote for it… ‘Rallying Democrats in strong opposition to CRomnibus to stop the Wall Street giveaways and bank bailouts,’ Waters tweeted on Thursday afternoon.” [American Banker, 12.11.2014]


  • Bloomberg: “The Republican-led efforts are likely to face fierce opposition from Democrats such as Senator Elizabeth Warren of Massachusetts and Representative Maxine Waters of California, both of whom criticized the agreement on the swaps measure this week. And Republicans, who will hold 54 of the 100 seats in the Senate, will need Democrats on board to advance major bills.”  [Bloomberg, 12.12.2014]


  • Rep. Maxine Waters takes down Republican Representative Kevin Yoder’s claim that spurring more risky bets will make banking safer in The Huffington Post: “…many ‘uncleared’ credit default swaps are still washing around the financial system without market scrutiny -- just like the bets that blew up seven years ago. These uncleared swaps can receive taxpayer backing under the provision Yoder supported. Lawmakers who opposed the change dismissed Yoder's defense." One thing he does not do is tell you how it makes it safer," Rep. Maxine Waters (D-Calif.), the ranking member on the House Committee on Financial Services who whipped votes against the spending bill in the House, told The Huffington Post. If he believed that people really understood it, I don’t think he would make those kinds of statements." [The Huffington Post, 1.6.2015]


  • Huffington Post: “Rep. Maxine Waters (D-Calif.), the top Democrat on the Financial Services Committee and a key architect of the revolt against the omnibus bill, said she launched her own whipping operation and told members not to be intimidated by the White House.  ‘We're fighting anybody who is lobbying for this bill,’ she said.” [The Huffington Post, 12.11.2014]


  • Democracy Now: “Speaking ahead of the vote, Democratic Rep. Maxine Waters said undoing critical regulation through a government spending bill must be opposed. Rep. Maxine Waters: ‘Under the cover of 'must pass' legislation, big bank lobbyists are hoping that Congress will allow Wall Street to once again gamble with taxpayer money – by reversing a provision that prohibits banks from using taxpayer-insured funds, bank deposits, to engage in risky derivatives trading activity. … This provision must be stopped. Enough is enough.’" [Democracy Now, 12.14.2014]