Speakeasy With John Harwood

As the House Democratic majority begins wielding power, Rep. Maxine Waters of California is among its tallest lightning rods. In her three decades on Capitol Hill, she has built a reputation for fiery advocacy on behalf of her constituents in a majority-minority Los Angeles district of below-average incomes. Now she will conduct oversight of the titans of Wall Street. The House Financial Services panel - once considered a “juice committee” for its ability to deliver big donations to members - has the first African-American, and the first woman, to wield the gavel of the chair. For years, Waters has clashed energetically with the Republican right, which has made her a target on ideological and ethical grounds. But for all her high-volume rhetoric, Republican lawmakers credit her as a trustworthy colleague with a practical streak that can, at times, produce bipartisan cooperation. A wary business community hopes it can work with her in the same way. Waters, 80, sat down with me in her office on Capitol Hill to