Congresswoman Waters in hot water with ethics committee

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Alex Wong/ Getty Images

U.S. Rep. Maxine Waters (D-CA) speaks at a news conference on Capitol Hill February 12, 2009 in Washington.

New York Congressman Charlie Rangel is facing a trial by the House of Representatives Sources on ethics charges. Now Los Angeles Congresswoman Maxine Waters could face a similar trial.

The accusations stem from the federal response to the nation’s banking crisis two years ago. Congresswoman Waters pushed federal banking officials to include black-owned banks in bailouts.

She doesn’t apologize for fighting to get them bailout money like the cash offered to the “too big to fail” megabanks. But Waters and her husband owned stock in one of those minority-owned banks. She’s accused of communicating with the top executive of that bank at the same time it was applying for federal help.

Sources told “The New York Times” and “Politico” that Congresswoman Waters chose a trial rather than accept the charges by the ethics committee. Formal charges are expected to be released next week.

The House of Representatives left town Friday night for its summer recess. A note on the website of the ethics committee says it will issue “no further statement” on the Waters case.

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