unelected, un-vetted bureaucrat
Rep. Darrell Issa, R-Calif., reported that he and his wife had $5 million to $25 million invested in a Goldman Sachs high-yield fund and a similar range invested in a JPMorgan Chase & Co. high-yield fund. The Justice Department is investigating mortgage speculation at Goldman Sachs, which also faces civil fraud charges from the Securities and Exchange Commission.
Rep. Carolyn Maloney, D-N.Y., reported that she owes CitiMortgage $500,000 to $1 million for a Washington, D.C., property and Cardinal Bank up to $500,000 for the mortgage on an Arlington, Va., condominium.
Rep. Maxine Waters, D-Calif., disclosed that her husband has $350,000 to $750,000 invested in OneUnited Bank.
Small Business Committee Chairwoman Nydia Velazquez, D-N.Y., disclosed a Chase mortgage of $1 million to $5 million on a property in Brooklyn, N.Y., and a Chase home equity line of credit debt of $100,000 to $250,000.
The wife of another conference committee member, Rep. Melvin Watt, D-N.C., used to be executive director of the Minbanc Foundation, a charity that promotes minority- and women-owned bank ownership. The foundation's board during Eulada Watt's years of service included top American Bankers Association lobbyist Ed Yingling.
Watt said he would not recuse himself from negotiations on the bill because of his wife's foundation employment, which appears to have ended in 2008.