Maxine Waters Tries To End Hearing But Is Quickly SHUTDOWN By Republican Counterpart

By Mark Whittington | Friday, 16 December 2022 02:10 PM
3
Views 17.7K
Maxine Waters Tries To End Hearing But Is Quickly SHUTDOWN By Republican Counterpart

The collapse of the cryptocurrency company FTX and the arrest of its former CEO Sam Bankman-Fried has sent shockwaves through official Washington.

Rep. Maxine Waters, D-California, the chair of the House Financial Services Committee, was supposed to have Bankman-Fried as the star witness at a hearing examining the FTX affair. Waters had to content herself with having the current FTX CEO, John Ray III, who had been hired to guide the company through bankruptcy.

According to the Western Journal, the hearing erupted in fireworks when Waters tried to pull a fast one. She attempted to adjourn the hearings when she had finished questioning Ray. The committee’s Republican ranking member, Rep. Lance Gooden, R-Texas, objected because he had not had his turn to question the witness.

 WATCH: NICOLE WALLACE AND THE END OF DEMOCRACYbell_image

“Chairwoman Waters, Chairwoman Waters, I’ve not had the opportunity to testify — or [rather] to question the witness,” he said.

 YIKES! IS MARJORIE TAYLOR GREENE LOSING HER 'GRIP' IN POWER STRUGGLE?bell_image

Waters, who had been giving her closing remarks, abruptly stopped. After an aide whispered something in her ear, the congresswoman picked up where she had left off.

 WATCH: FETTERMAN CONFRONTED BY A PRO-HAMAS ACTIVISTbell_image

Gooden was having none of it. “Chairwoman Waters. Parliamentary inquiry. Are all members entitled to question witnesses?”

After a brief and frank exchange of views, Waters allowed Gooden five minutes to ask Ray questions.

According to Red State, Ray’s testimony was damning, “FTX commingled customer funds with the FTX Foundation and affiliated nonprofits to advance SBF’s vanity projects and progressive causes.”

 TESLA IN TURMOIL: MUSK OUSTS TOP EXECS AND PREPARES FOR MASSIVE LAYOFFS, WHAT'S HAPPENING?bell_image

Ray also went on about his difficulties in handling the company’s bankruptcy. “It’s one of the worst from a documentation standpoint. Even in the most failed companies you have a fair roadmap of what happened. We’re dealing with literally, sort of a paperless bankruptcy, in terms of how they created the company. It makes it very difficult to trace and track assets particularly, as I’ve said, in the crypto world. It’s really unprecedented in terms of the lack of documentation.”

 PROFESSIONAL "PROTEST CONSULTANT" CAUGHT ON VIDEO STIRRING UP CHAOS AT COLUMBIA UNIVERSITYbell_image

Red State speculates that Waters wanted to bring the hearing to an abrupt end because the Bankman-Fried had been very generous to Democratic politicians with his ill-gotten gains. The politicians who benefited from the donations included members of the Financial Services Committee, Waters, and Reps. Sean Casten, Chuy Garcia, Jim Himes, Ritchie Torres, and Josh Gottheimer.

Since the Republicans took control of the House during the 2022 midterm elections, Waters will no longer be chair of the Financial Services Committee. Then, a proper investigation of the collapse of FTX can begin.

X