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At the end of September, 2008, George Bush, a very lame duck president, demanded-- and then pleaded-- with his party to go along with Secretary of the Treasury Paulsen's bankster bailout bill (the Emergency Economic Stabilization Act of 2008). Full Article at Down With Tyranny!
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For instance, Alabama Rep. Spencer Bachus, the top Republican on the House Financial Services Committee, is listed as returning money to the U.S. Treasury between July 1 and Sept. 30 "for reduction of the public debt." How much? $276.26. That's Bachus' Full Article at USA Today
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Nov. 19 (Bloomberg) -- NYSE Euronext, LCH.Clearnet Ltd. and three other firms are asking Congress to drop a proposal that would bar companies that are more than 20 percent owned by banks from offering clearing and trading systems in the... Full Article at Bloomberg.com
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Nov. 19 (Bloomberg) -- Republican lawmakers demanded a Congressional hearing to review whether the Federal Reserve Bank of New York was unprepared to deal with the bailout of American International Group Inc. last year. Full Article at Bloomberg.com
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Name: Rep. Spencer Bachus (R-Ala.) Position: Although Bachus isn't new to the House Financial Services Committee, he's relatively new to the committee's ranking member position, which he assumed in 2007. Full Article at Open Secrets
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On November 3, 2009 your Congressman Spencer Bachus sent a letter to Secretary of the Treasury Timothy Geithner and Ben Bernanke the Chairman of the Federal Reserve Board requesting the US Treasury to comply fully with the December 1, 2009 deadline... Full Article at Poker Player's Alliance
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Senate Minority Whip Jon Kyl and Financial Services Committee ranking member Spencer Bachus wrote to Treasury Secretary Tim Geithner and Federal Reserve Chairman Ben Bernanke this week opposing calls to delay by a year the implementation of a 2006 law... Full Article at National Journal
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From a Washington Post article on proposed legislation to regulate overdraft fees: “Rep. Spencer Bachus (R-Ala.) said he avoided overdraft fees with a credit line and asked if many of the problems could be eased with consumer education.” Good on you,... Full Article at Brad DeLong's Semi-Daily Journal
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House Financial Services Committee Ranking Republican Rep. Spencer Bachus (R-Ala.) calls finance legislation sponsored by committee chair Rep. Barney Frank (D-Mass.) the most “far reaching, significant reform of our financial system since the Great... Full Article at Talk Radio News Service
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Treasury Secretary Timothy Geithner speaks says the legislation will not lead to propped-up firms. Full Article at USA Today
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WASHINGTON — Treasury Secretary Timothy Geithner said Thursday that giving the government the power to dismantle mammoth financial firms like Lehman Brothers will prevent future bailouts. Full Article at Deseret News
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WASHINGTON (MarketWatch) -- Managers of hedge funds and private-equity funds would be required to shed some light on their investments by registering with the Securities and Exchange Commission and opening up their books to agency examiners, under... Full Article at MarketWatch
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Earlier this afternoon we looked at some of the obstacles to passage of meaningful health care reform, primarily obstacles from Big Business in the form of an entrenched culture of corruption between many members of the Senate and with the Executive... Full Article at Down With Tyranny!
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The proposed Consumer Financial Protection Agency took another step forward Thursday in the House, moving out of the Financial Services Committee -- albeit a bit weaker -- on its way toward the floor. Full Article at Huffington Post
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Federal Reserve Chairman Ben S. Bernanke warned Congress this week about efforts to move up the effective date of tough new rules for credit card companies, saying such action could hurt consumers as much or more than help them. Full Article at Boston Herald
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Inside the Beltway, the best place to play Laser Shot is (where else?) at the National Rifle Association, where the staff set up a huge screen in the conference room for political fundraising tournaments, complete with trophies for the winner. Full Article at The Hill
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Some of the biggest Wall Street firms are back in the political-spending game after hunkering down while they were getting government bailout funds. Full Article at Green Change
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The House Financial Services Committee is expected to take up legislation this week or next to move up to Dec. 1, from late February next year, implementation of a law enacted in May to curb abusive credit card billing practices. Full Article at CQ Politics
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WASHINGTON-- Implementing tougher new credit card disclosure rules more quickly could help consumers but could also lead to unintended consequences and bank compliance problems, Federal Reserve Chairman Ben Bernanke said on Wednesday. Full Article at FOX Business
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Indiana bigot Mike Pence blew the whistle on this one. Full Article at Down With Tyranny!
About Spencer Bachus
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Martin Luther King III (C), his wife Arndrea Waters King (2nd L), US Congressmen John Lewis (2nd R) and Spencer Bachus (L) observe silence in memory of the victims of last year's attack by gunmen, in front of the historic Gateway of India in Mumbai February 18, 2009.
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Chairman of the House Financial Services Committee Barney Frank (R) (D-MA) and ranking member Spencer Bachus (L) (R-AL) question Chairman of the Federal Reserve Ben Bernanke during a hearing on Capitol Hill in Washington February 10, 2009.
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House Financial Services Committee members, from left, Rep. Peter King, R-N.Y. , Rep. Michael Castle, R-Del. , Rep. Shelley Moore Capito, R-W.Va. , back to camera, Rep. Jeb Hensarling, R-Texas. and the Committee's Ranking Republican Rep. Spencer Bachus, R-Ala. , confer on Capitol Hill...
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The House Financial Services Committee ranking Republican Rep. Spencer Bachus, R-Ala. , left, talks with Rep. Jeb Hensarling, R-Texas. on Capitol Hill in Washington, Tuesday, Oct. 20, 2009, during the markup of legislation.
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Rep. Jeb Hensarling, R-Texas. , center, speaks as the House Financial Services Committee ranking Republican Rep. Spencer Bachus, R-Ala. , left, and Committee Chairman Rep. Barney Frank, D-Mass. , right, listen, during the markup of legislation on Capitol Hill in Washington, Tuesday, Oct...
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The House Financial Services Committee ranking Republican Rep. Spencer Bachus, R-Ala. , second from left, talks as Rep. Jeb Hensarling, R-Texas. , second from right, listens during the markup of legislation on Capitol Hill in Washington, Tuesday, Oct. 20, 2009.
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House Financial Committee Chairman Rep. Barney Frank, D-Mass. , right, and the committee's ranking Republican Rep. Spencer Bachus, R-Ala. , talk on Capitol Hill in Washington, Thursday, Oct. 1, 2009, during the committee's hearing on financial regulators.
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House Financial Services Committee Chairman Rep. Barney Frank, D-Mass. , right, and the committee's ranking Republican Rep. Spencer Bachus, R-Ala. , are seen on Capitol Hill in Washington, Thursday, Sept. 24, 2009, during the questioning of former Federal Reserve Bank Chairman, and curr...
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The House Financial Services Committee ranking Republican Rep. Spencer Bachus, R-Ala. , left, talks with former Federal Reserve Bank Chairman, and current White House economic adviser Paul Volcker on Capitol Hill in Washington, Thursday, Sept. 24, 2009, before the start of the committee...
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The House Financial Services Committee's ranking Republican Rep. Spencer Bachus, R-Ala. , left, shakes hands with former Federal Reserve Bank Chairman, and current White House economic adviser Paul Volcker on Capitol Hill in Washington, Thursday, Sept. 24, 2009, prior to Volcker testify...
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Republican Rep. Spencer Bachus, R-Ala, (C) speaks during a news conference on 'The Anniversary of the Government Intervention in the Financial Markets and the Need for Regulatory Reform.' at the Capitol Hill in Washington, DC, on September 15, 2009.
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Republican Rep. Spencer Bachus, R-Ala, (C) speaks during a news conference on 'The Anniversary of the Government Intervention in the Financial Markets and the Need for Regulatory Reform.' at the Capitol Hill in Washington, DC, on September 15, 2009.
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Republican Rep. Spencer Bachus, R-Ala, speaks during a news conference on 'The Anniversary of the Government Intervention in the Financial Markets and the Need for Regulatory Reform.' at the Capitol Hill in Washington, DC, on September 15, 2009.
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Republican Rep. Spencer Bachus, R-AL, speaks during a news conference on 'The Anniversary of the Government Intervention in the Financial Markets and the Need for Regulatory Reform.' at the Capitol Hill in Washington, DC, on September 15, 2009.
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Republican Rep. Spencer Bachus, R-AL, (C) speaks during a news conference on 'The Anniversary of the Government Intervention in the Financial Markets and the Need for Regulatory Reform.' at the Capitol Hill in Washington, DC, on September 15, 2009.
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House Financial Services Committee Chairman Rep. Barney Frank, D-Mass. , center, flanked by the committee's ranking Republican Rep. Spencer Bachus, R-Ala. , left, and Rep. Paul Kanjorski, D-Pa. , looks up at the clock on Capitol Hill in Washington, Tuesday, March 24, 2009, during the c...
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House Financial Services Committee Chairman Rep. Barney Frank, right, and the committee's ranking Republican Rep. Spencer Bachus, R-Ala. , presides over committee's hearing on AIG, Tuesday, March 24, 2009, on Capitol Hill in Washington.
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WASHINGTON - FEBRUARY 25: U.S. President Barack Obama (L) speaks from the Diplomatic Reception Room of the White House while delivering a statement discussing the need for financial regulatory reform February 25, 2009 in Washington, DC.
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WASHINGTON - FEBRUARY 25: U.S. President Barack Obama (L) departs the Diplomatic Reception Room of the White House after making a statement discussing the need for financial regulatory reform February 25, 2009 in Washington, DC.
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WASHINGTON - FEBRUARY 25: U.S. President Barack Obama (L) departs the Diplomatic Reception Room of the White House after making a statement discussing the need for financial regulatory reform February 25, 2009 in Washington, DC.
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WASHINGTON - FEBRUARY 25: U.S. President Barack Obama (C) speaks from the Diplomatic Reception Room of the White House while delivering a statement discussing the need for financial regulatory reform February 25, 2009 in Washington, DC.
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WASHINGTON - FEBRUARY 25: U.S. President Barack Obama (L) departs the Diplomatic Reception Room of the White House after making a statement discussing the need for financial regulatory reform February 25, 2009 in Washington, DC.
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U.S. President Barack Obama (C) makes an announcement on his meeting with Senate Banking and the House Financial Services Committee at the White House in Washington, February 25, 2009.
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President Barack Obama exits the Diplomatic Reception Room of the White House in Washington, Wednesday, Feb. 25, 2009, after making comments after a meeting between his economic team and Congressional financial committee leaders.
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President Barack Obama makes comments in the Diplomatic Reception Room of the White House in Washington, Wednesday, Feb. 25, 2009, following a meeting with Congressional financial committee leaders and his economic team.
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Chairman of the House Financial Services Committee Barney Frank (R) (D-MA) and ranking member Spencer Bachus (L) (R-AL) question Chairman of the Federal Reserve Ben Bernanke during a hearing on Capitol Hill in Washington February 10, 2009.
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Even a cursory reading shows that the administration has chosen to continue its failed policy of costly taxpayer bailouts orchestrated behind closed doors by officials at the Treasury and the Federal Reserve
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The proposal places taxpayers first in line to bear the losses when the government invokes its resolution authority ... And for those who believe that those taxpayer losses would be recouped from surviving firms, I would direct their attention to the recent examples of GM, Chrysler, Fannie Mae, Freddie ...
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