Rep. Maxine Water will most likely become the chair of the House’s Financial Services Committee following the Democrats’ victory in the midterm elections on Tuesday, according to CNBC. Waters, who’s been a vocal critic of Wall Street and President Donald Trump, is currently the top Democrat on the banking panel.
The congresswoman has asked for more regulation of the nation’s top banks, which put her in direct opposition of Trump and Republicans who favor deregulation. In July, she proposed that financial institutions that violated the law could face fines.
“We expect the House Financial Services Committee will create an elevated level of headline risk for banks for the next two years,” Height Capital Markets analysts told Marketwatch on Wednesday.
Analysts don’t believe that Waters, who has the power to hold hearings involving banks, will get far since Republicans still control the Senate. They believe she is “creating negative perceptions and market worries for parts of the financial industry” and have expressed worry that she will subpoena banking documents.
Director Ava DuVernay tweeted Trump on Wednesday, who called the midterm elections a “tremendous success,” that he will be held accountable now that Democrats have regained control of the House.
“Hmmm. You can’t pass laws without Dem approval. Your worst nightmares @RepMaxineWaters + @AdamSchiff now head the Financial Services + Intelligence Committees. You’ll be checked/balanced ‘til your combover can’t lay straight. And you call that success. Why you gotta lie, Craig?” she wrote.
Hmmm. You can’t pass laws without Dem approval. Your worst nightmares @RepMaxineWaters + @AdamSchiff now head the Financial Services + Intelligence Committees. You’ll be checked/balanced ‘til your combover can’t lay straight. And you call that success. Why you gotta lie, Craig? https://t.co/zr85aOYmjz
— Ava DuVernay (@ava) November 7, 2018
The 14-term House member has also sparred openly with Trump, who has routinely questioned her intelligence and sanity.
“Congresswoman Maxine Waters, an extraordinarily low IQ person, has become, together with Nancy Pelosi, the Face of the Democrat Party,” he wrote in August.
“I don’t care what he calls me. I know who I am. I know what I do,” Waters said in July. “I am perfectly comfortable with me. He can call me whatever he wants to, he does not intimidate me, and I am not going to stop talking about him.”
What's Your Reaction?
Teddy is a multimedia journalist who serves as the culture and political writer for EBONY. His work has appeared in NBC's Owned and Operated stations, as well as DNAInfo, which covered local neighborhood news in New York City. He received his Masters in Journalism from the Craig Newmark School of Journalism at CUNY in 2017.