Turns out Maxine Waters is not the only crook in town. This may be the biggest story of the next two months.

You will need to remember OneUnited. It is a bank, but just not any old bank.. It is the bank of which Maxine Waters' husband owns a "substantial" interest. Last week, the crook, Charles Rangel, was found guilty of 11 charges of misconduct, some of which appear to be criminal.

Now we have the Maxine Waters affair. The trial was to start after this week's break but has been postponed. The following is from the Finance Committee and is an explanation for the postponement. It seems that more Democrats than Waters are complicit in the transference of money (these clowns call this money "loans").

A newly discovered exchange of e-mails led the House ethics committee on Friday to delay its trial of Representative Maxine Waters, a California Democrat accused of helping steer bailout money to a bank in which her husband owned shares.

The e-mails are between Mikael Moore, Ms. Waters’s chief of staff, and members of the House Financial Services Committee, on which Ms. Waters serves. The e-mails show that Mr. Moore was actively engaged in discussing with committee members details of a bank bailout bill apparently after Ms. Waters agreed to refrain from advocating on the bank’s behalf. The bailout bill had provisions that ultimately benefited OneUnited, a minority-owned bank in which her husband, Sidney Williams, owned about $350,000 in shares. ..

The subcommittee’s original report found that in early September 2008, Representative Barney Frank, Democrat of Massachusetts and the committee’s chairman, told Ms. Waters not to get involved with any issues involving OneUnited and that Ms. Waters agreed to refrain from advocating on the bank’s behalf. The case against Ms. Waters hinged largely on a series of e-mails between Mr. Moore and OneUnited, which may suggest that Ms. Waters’s office continued to lobby on behalf of the bank, although Mr. Moore has argued that he was primarily on the receiving end of the messages.

A person directly involved in the investigation said the new e-mails could show that members of her staff continued to work on the bank’s behalf.

“It may directly contradict a bit of Maxine’s story, if not the actual facts, the way she has told it,” said the person, who did not want to be identified because of the sensitivity of the trial.

Remember a thing called TARP ? It was intended to be spent on "toxic assets." Turns out that not a nickle went to such assets, seriously. Instead, the Fed took care of that problem and we taxpayers are paying off the Fed bill; could be well over 1 trillion dollars.

The bank, OneUnited, received several millions in TARP money, and unlike the other 706 applicants, got to count that cash among its assets before actually receiving the money. Understand that there were more than 700 banking applicants and OneUnited was the only bank permitted to count the money as an asset.

Barney Frank is a member of Financial Services committee; folks at Treasury may be complicit as well. In fact, he is the current chairman of this committee. And the Republicans are coming to town loaded with subpoena power.