Connect with us


Trump’s Deutsche Bank ties just one of several issues for House, Rep. Waters says



California Democrat Rep. Maxine Waters said an investigation into President Donald Trump‘s personal financial dealings with Deutsche Bank is just one of several issues the House Financial Services Committee has on its plate.

Waters, who is in line to become chair of the committee next year when Democrats take control of the House, told Bloomberg News in an interview Wednesday that the committee was also focused on housing policies and the Consumer Financial Protection Bureau, an agency created by the 2010 Dodd-Frank financial reforms that has been under attack by Republicans ever since.

Congressional Democrats have already been investigating ties between Trump and Germany’s Deutsche Bank, which has been ordered by regulators to shore up internal controls to prevent money laundering. Waters was one of a handful of lawmakers who requested information from the bank last year, including whether loans it made to Trump were guaranteed by the Russian government.

As the new majority on the committee, Waters could use subpoena power to put more force behind such requests. Asked whether she would use that power, Waters said: “That’s simply one piece of the business that we have to do. You know that we have requested information from the Treasury about everything from sanctions to Deutsche Bank, and we know that Deutsche Bank is identified as one of the biggest money laundering banks in the world, perhaps, and that they’re the only ones who were amenable to providing loans to this president. So we want to know some things about that.”

She added, “We have the power to deal with subpoenas, but I want you to know we’re not just focused on that alone.”

She said supporting the CFPB is another task at hand, calling it one of “the most important centerpieces” of the 2010 reforms. Republicans have been trying to dismantle the agency from the start. This summer, Mick Mulvaney, a Trump economic advisor and its acting director, fired the CFPB’s 25-member advisory board, some of whom had been critical of his leadership.

“I’ve got to do everything that I can possibly do to undo some of the harm that Mr. Mulvaney has done,” Waters told Bloomberg. “He is going to come to understand that he cannot just summarily dismiss the advisory committee. That’s not going to work.”

Waters said the committee would also work to insure consumers are protected from fraud and predatory lending.

As for Trump, Waters said he should also steer clear of trying to direct the Federal Reserve‘s policies on interest rates and monetary issues. Trump has been publicly critical of Fed Chair Jerome Powell, whom he nominated to the post. Powell has steadily raised interest rates, something Trump has said he is “not thrilled” with.

“The president should not interfere with the Federal Reserve,” Waters said in the interview. “The president doesn’t understand. He’s not a dictator, and he cannot interfere. As a matter of fact, he could really cause problems in the markets by just rolling out saying things that he should not say because he does not understand the complexity of how they make those decisions.”

“He should leave him alone and let them do their work and not continue to try and make them do what he would have them do.”

Watch the Bloomberg interview here.

Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Comedian Zelenskiy wins Ukrainian presidential race by landslide: exit poll



Volodymyr Zelenskiy, Ukrainian comedian and candidate in the upcoming presidential election, hosts a comedy show at a concert hall in Brovary, Ukraine March 29, 2019.

Valentyn Ogirenko | Reuters

Volodymyr Zelenskiy, Ukrainian comedian and candidate in the upcoming presidential election, hosts a comedy show at a concert hall in Brovary, Ukraine March 29, 2019.

Ukraine entered uncharted political waters on Sunday after an exit poll showed a comedian with no political experience and few detailed policies had easily won enough votes to become the next president of a country at war.

The apparent landslide victory of Volodymyr Zelenskiy, 41, is a bitter blow for incumbent Petro Poroshenko who tried to rally Ukrainians around the flag by casting himself as a bulwark against Russian aggression and a champion of Ukrainian identity.

The national exit poll showed Zelenskiy had won 73 percent of the vote with Poroshenko winning just 25 percent.

If the poll is right, Zelenskiy, who plays a fictitious president in a popular TV series, will now take over the leadership of a country on the frontline of the West’s standoff with Russia following Moscow’s annexation of Crimea and support for a pro-Russian insurgency in eastern Ukraine.

Zelenskiy, whose victory fits a pattern of anti-establishment figures unseating incumbents in Europe and further afield, has promised to end the war in the eastern Donbass region and to root out corruption amid widespread dismay over rising prices and falling living standards.

But he has been coy about exactly how he plans to achieve all that. Investors want reassurances that he will accelerate reforms needed to attract foreign investment and keep the country in an International Monetary Fund program.

“Since there is complete uncertainty about the economic policy of the person who will become president we simply don’t know what is going to happen and that worries the financial community,” said Serhiy Fursa, an investment banker at Dragon Capital in Kiev.

“We need to see what the first decisions are, the first appointments. We probably won’t understand how big these risks are earlier than June. Perhaps nothing will change.”

View an election graphic here

Source link

Continue Reading


Explosions at churches and hotels in Sri Lanka on Easter Sunday



At least 129 people were killed and nearly 500 hospitalized from injuries in near simultaneous blasts that rocked three churches and three hotels in Sri Lanka on Easter Sunday, the state-run Daily News reported.

A security official told The Associated Press that the death toll was 138 people, and included worshippers and hotel guests.

Two of the blasts were suspected to have been carried out by suicide bombers, according to the official, who spoke on condition of anonymity as he was not authorized to speak with reporters.

It was the worst violence in Sri Lanka since the end of the civil war a decade ago. The magnitude of the bloodshed recalled the random bombings perpetrated by the separatist Tamil Tigers that targeted a bank, a shopping mall, a Buddhist temple and hotels popular with tourists.

No one has claimed responsibility for the blasts.

St. Anthony’s Shrine and the three hotels where the blasts took place are in Colombo, and are frequented by foreign tourists. A National Hospital spokesman, Dr. Samindi Samarakoon, told AP they received 47 dead, including nine foreigners, and were treating more than 200 wounded.

Local TV showed damage at the Cinnamon Grand, Shangri-La and Kingsbury hotels.

The Shangri-La’s second-floor restaurant was gutted in the blast, with the ceiling and windows blown out. Loose wires hung and tables were overturned in the blackened space.

A police magistrate was at the hotel to inspect the bodies recovered from the restaurant. From outside the police cordon, several bodies could be seen covered in white sheets.

Alex Agieleson, who was near the shrine, said buildings shook with the blast, and that a number of injured people were carried away in ambulances.

Other blasts were reported at St. Sebastian’s Church in Negombo, a majority Catholic town north of Colombo, and at Zion Church in the eastern town of Batticaloa. St. Sebastian’s appealed for help on its Facebook page.

The explosion ripped off the roof and knocked out doors and windows at St. Sebastian’s, where people carried the wounded away from blood-stained pews, TV footage showed.

Sri Lankan security officials said they were investigating. Police immediately sealed off the areas.

Sri Lankan security forces in 2009 defeated Tamil Tiger rebels who had fought to create an independent homeland for the country’s ethnic minority Tamils. The U.N. initially estimated the death toll from 26 years of fighting to be about 100,000 but a U.N. experts’ panel later said some 45,000 ethnic Tamils may have been killed in the last months of the fighting alone.

Government troops and the Tamil Tigers were both accused of grave human rights violations, which prompted local and international calls for investigations.

Source link

Continue Reading


Explosions hit two churches in Sri Lanka on Easter Sunday



Two Sri Lankan churches and two hotels were hit by explosions on Easter Sunday, wounding several people, police sources said.

The hotels and one of the churches are in the nation’s capital Colombo. The other church is in Negombo, north of Colombo.

A source in the police bomb squad said that one of the explosions was at St Anthony’s Church in Kochcikade, Colombo. “Our people are engaged in evacuating the casualties,” the source said.

Sources from two leading tourist hotels in Colombo also confirmed the explosions but did not give any details.

Colombo National hospital said several wounded had been brought in for treatment.

St. Sebastian’s church at Katuwapitiya in Negombo posted pictures of destruction inside the church on its Facebook page, showing blood on pews and the floor, and requested help from the public.

There were no immediate claims of responsibility.

Source link

Continue Reading