MSNBC "The Rachel Maddow Show" - Transcript: "The process of impeachment."

Interview

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MADDOW: Michael Schmidt, Washington correspondent for "The New York Times" -- playing an important role in breaking this continuing to break story. Thanks for being here. It`s really good to have you here. All right. I want to bring into the conversation now one of the chairs of one of the six committees that was mentioned today by speaker Pelosi when she made this announcement. When she announced a formal impeachment inquiry into the president today, she listed off the six committees that have been investigating the president already. She said those half dozen committees will continue investigating him, but now under the umbrella of an impeachment inquiry. I have a lot of questions about how this is going to work and what we should expect to see next. I`m very pleased to say that joining us now live is Congresswoman Maxine Waters, who is the chair of the Financial Services Committee. Chairwoman Waters, thank you so much for making time to be with us tonight.

REP. MAXINE WATERS (D-CA): You`re welcome. Delighted to be with you.

MADDOW: So, this has been a very fast-moving day. I want to start just by getting your top line reaction to the events of this day and to this announcement by the speaker.

WATERS: Well, I`m absolutely supportive of the way in which the speaker has provided the leadership to get into this formal impeachment inquiry. I`ve known for some time that the president of the United States had been in violation of what is expected of a president, and I could count any number of reasons why I think he should have been impeached. And it seemed as if this latest revelation by the whistleblower has caused others to join me in saying that there should be an impeachment inquiry. This has kind of -- he went over the line. It`s like a thousand nicks, and he`s finally stepped into a situation with the whistleblower where people are tending to believe that there`s a lot to this. And so, the speaker has moved very decisively. She now knows that she has the support of most of the caucus, and she has formalized the impeachment inquiry. And I support that.

MADDOW: In terms of that formalization of the inquiry, I wonder if you could share with us some of how this is going to work. Obviously, your committee is key here. Your committee has already been investigating a number of allegations about the president related to the remit of your committee, financial services. When the speaker said today that your committee and five others are going to pursue these matters and then essentially forward potential articles of impeachment to the Judiciary Committee for them to collate and make a decision on, do you expect that that means that everything that you`ve been investigating the president for already will be wound up in this impeachment proceeding --

WATERS: No.

MADDOW: -- or are you specifically focusing on this Ukraine issue?

WATERS: Well, no, here`s what I understand. I understand that all of the chairs of the six committees will be involved in basically coming up with what should be articles of impeachment based on the work that we have been doing. Some will have more to say about what those articles should be based on the work that they have been doing, some will say less. And we will agree basically what those articles should be based on our experiences that we`ve had with our investigations and that will be what the Judiciary Committee will be working with.

MADDOW: Can you tell us anything about the expected timeline there, either in terms of when you and your fellow chairs are expected to meet to talk together about these matters or when this overall is something that we should expect to come to fruition?

WATERS: Well, it`s going to move very quickly. We met today and we will be meeting perhaps tomorrow, programs the next day. But it`s going to move quickly.

MADDOW: When do you expect the Judiciary Committee might be considering potential articles of impeachment?

WATERS: I don`t have that information, but I do expect that the Judiciary Committee is prepared to move very quickly.

MADDOW: Madam Chair, one last question for you. In terms of the investigations that you have been pursuing thus far, and I know some of that has brought you into court. You`ve been involved in litigation to try to shake loose documents that your committee has been seeking. Do you feel that you have the support you need to -- and the resources that you need to get answers to the questions that you have been pursuing? Do you feel that you have the support and the resources that you need to follow this new process that you`re describing with regard to this new impeachment proceeding?

WATERS: Well, let me just say that we have been seeking documents relative to Deutsche Bank and his involvement with the president of the United States, but we`ve also been seeking documents from several other banks. We are getting information in. The information that we`re seeking that directly speaks to the relationship between Deutsche Bank and Trump, we don`t have yet. It is still under litigation. Now, remember -- if you remember, we sought subpoenas, we got subpoenas, we got support for that. That has been absolutely opposed by the Trump lawyers, and so now we`re still in court. And we have to follow the court processes. No, I don`t have all of the information that I need in order to move forward with specific language that would go into the impeachment inquiry.

MADDOW: Given what you`re describing about how fast this is moving, this specific new proceeding announced today by the speaker. As far as I remember from looking at the congressional calendar, a new recess for Congress I think is supposed to start on Friday of this week. Do you know if there`s any consideration to potentially cancelling that recess in order to keep this proceeding going rather than taking a break so soon after it starts?

WATERS: I know that a discussion has started on that. I don`t know that it will happen, that we will not be in recess. But I know that that is under discussion.

MADDOW: Congresswoman Maxine Waters, the chair of the Financial Services Committee in the House -- Madam Chair, thank you so much for taking time to be with us tonight.

WATERS: You`re so welcome. Thank you.

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