I've long criticized Maxine Waters for seeming to display a truly astonishing lack of knowledge about the financial system her committee regulates. Apparently, however, she does have some sources in the financial industry:
Top federal regulators say they were taken aback when they learned that a California congresswoman who helped set up a meeting with bankers last year had family financial ties to a bank whose chief executive asked them for up to $50 million in special bailout funds.
Ms. Waters, a member of the House Financial Services Committee, did not disclose her ties to OneUnited to Treasury officials, who said they learned of them only later.