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How Would Maxine Waters Question Maxine Waters About The Kevin Cohee Allegations?

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As previously mentioned, Maxine Waters has been accused of some questionably ethical dealings. The Congresswoman from California has denied that she's violated any house rules and as a result, will take part in a public hearing rather than admitting to any wrongdoing. Naturally you can expect any hearing involving Waters to be an extremely entertaining event but today the Boston Herald takes one for the team, raising a few points that ensure there will be a minimum of, ballparking it, 5 delightful awkward exchanges, vis-a-vis a pal of hers named Kevin who allegedly has a coke, sodomy and Porsche problem.

The married bank honcho at the center of the Maxine Waters ethics firestorm was arrested for allegedly sodomizing a woman and possessing cocaine at a company-owned manse just months before U.S. Rep. Barney Frank arranged a controversial taxpayer bailout for the Hub-based lender. The charges against OneUnited Chairman and CEO Kevin L. Cohee, 52, who splits his time between Chestnut Hill and Santa Monica, were dismissed - including allegations of possessing cocaine, illegal narcotics and opiates in his company’s $6.4 million beachfront villa. Cohee agreed to participate in a “drug diversion program” in exchange for the drug charges being dismissed, according to Santa Monica Police Sgt. Jay Trisler.

It was completely without merit,” Cohee told the Herald yesterday. “No convictions. Not even any charges. Utter and complete nonsense that went nowhere.” In testimony to a House ethics panel, Waters called Cohee a “friend” and said she had been to one of his homes for a Christmas party and a fund-raiser.

Cohee’s legal plight played out until the drug charges against him were dropped in July 2008 - the month before he began working to secure a federal bailout for his bank, raising serious questions about the degree of vetting by federal regulators and members of Congress.

Frank has previously denied Waters had any sway over his efforts to help OneUnited, but admitted he was working on behalf of Cohee and disgraced state Sen. Dianne Wilkerson. In October 2008, federal regulators and the Bay State’s division of banks ordered OneUnited to sell its $6.4 million beachfront property in Pacific Palisades, a prestigious area between Santa Monica and Malibu, and sell its bank-owned Porsche and other cars - like the gray Jaguar that Cohee was driving at the time of his 2007 arrest. Regulators also demanded the bank end excessive payments and benefits for its executives.

At the time of his arrest on the sodomy accusation, Cohee told police he met his accuser, a woman he briefly dated, while she worked as a stylist on a photo shoot being filmed at the bank-owned home for an “MTV series,” according to a police report.

In January 2003, Cohee and his wife acquired a bank in Waters’ district after the congresswoman’s outspoken advocacy for Family Savings Bank to remain in African-American hands. The acquisition nearly doubled the size of Cohee’s bank, which he re-branded OneUnited. The following year, Waters’ husband, Sidney Williams, joined the board of OneUnited. He remained a member until April 2008, retaining shares worth about $350,000 in the bank. A spokesman for Waters, Mikael Moore, said the congresswoman did not know that Cohee had been arrested or that the charges were dropped.

So, as we suggested earlier, if Congress really wants this hearing to be an event people will pay good money to see, they should have Maxine question Maxine. Based on the above, what do you think some of her possible lines of questions would be? If you need a refresher on MW's style, please review the following:

Hub bank honcho’s checkered past includes sex-assault and coke charges [BH via BI]


Jamie Dimon To Be Asked Why He Was Running JPMorgan Like SeaWorld, Hopefully

If we're being totally honest, while it had its moments, last week's Jamie Dimon Congressional hearing to discuss Whale Boy was a bit of a letdown, theatrically-speaking. This was probably due in large part to the fact that it was conducted by the Senate Banking Committee, and the Senate typically comes off intelligent and reasonable compared to the House,* and proceeded accordingly. As we surely don't have to tell you, this is not the kind of hearing we are interested in. We are interested in hearings that involve Congressmen and women screaming "I CAN'T BELIEVE YOU HAVEN'T BEEN PROSECUTED YET!!!" at financial services employees and accusing them of dressing up as Girl Scouts in order to deceive the public. We are interested in hearings that involve the use of the term "smart-alecks." We are interested in hearings that involve subjects being told to be more like Magic Johnson. We are interested in hearings that involve subjects who've never worked for Goldman Sachs being grilled until they break about working at Goldman Sachs. We are interested in hearings that involve bath salts, or the suggestion that the people conducting it have taken a bunch of them and at any moment might leap across the dais to eat the witness's face off. Fortunately, we might get the chance for all that and more tomorrow, when Dimon makes another trip down to D.C. to appear before the House Financial Services Committee to talk whales. In House Testimony, Dimon Sticks To Script [Dealbook] *Make no mistake, most of them fell short of becoming Rhodes Scholar Quarterfinalists, but we're speaking in relative terms here.