Congresswoman Maxine Waters is now chairwoman of the powerful House Financial Services Committee, and she vowed Friday she would use her power to right what she sees as wrongs committed due to race.

While addressing Jesse Jackson’s Rainbow PUSH Wall Street Project, Waters praised Jackson, and warned there’s a new financial sheriff in town.

“I want this day to go down in honor of Rev. Jesse Jackson,” Waters told attendees, “in ways that is described as this is a new day.

“This is a new day and we’re not simply begging, we’re not simply pleading. A black woman has the gavel now,” she said as the crowd cheered wildly.

“And I’ve lived too long, experienced too much, struggled too hard not to use it. They will hear the sound of my gavel all over the world!” she said.

Just days before the Midterm elections, Waters warned she would use her committee power for paybacks.

“We have an election November 6th,” Waters said. “This is big. This may be the most important one that you’ve ever had to experience.

“This is the midterm election and often times people only vote in the presidential election because they don’t think this is important enough. But this is absolutely important,” she lectured.

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“First of all, if we take back the House, most of the members of the Congressional Black Caucus will be chairs of the committees of the Congress of the United States of America,” Waters said, waving her fingers as the audience applauded.

“I will be the first African-American, the first woman to chair the powerful Financial Services Committee.

“That’s all of Wall Street. That’s all the insurance companies, that’s all the banks. And so, of course, the CEOs of the banks now are saying, ‘What can we do to stop Maxine Waters because if she gets in she’s going to give us a bad time?'” she said.

“I have not forgotten you foreclosed on our houses,” she warned.

“I have not forgotten that you undermined our communities,” she continued with the tone of a preacher.

“I have not forgotten that you sold us those exotic products, had us sign on the dotted line for junk,” she yelled, “and for mess that we could not afford.”

“I have people who are homeless who have never gotten back into a home. What am I going to do to you?

“What I am going to do to you is fair. I’m going to do to you what you did to us,” she vowed.