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Old 12-13-2010, 9:01pm   #1
Exotix
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Default (R-Ala.) Bachus ~ *We're here to serve the Banks*

Rep. Bachus tells local paper that Washington should 'serve' banks

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Rep. Bachus tells local paper that Washington should 'serve' banks - The Hill's On The Money



Rep. Spencer Bachus (R-Ala.), the incoming chairman of the House Financial Services Committee, is coming under fire from liberal groups for suggesting that federal lawmakers and regulators exist to "serve the banks."

Bachus, who is poised to oversee the implementation of the Dodd-Frank financial regulatory overhaul, made the comment in an interview with The Birmingham News.



"In Washington, the view is that the banks are to be regulated, and my view is that Washington and the regulators are there to serve the banks," he said.


[Another (R) taken out of context on] ... Bachus later clarified his remarks to the paper and said he meant that regulators should set parameters for banks, but not micromanage them. ... [/taken out of context off]


The comment comes after Bachus had to fend off a challenge from Rep. Ed Royce (R-Calif.) to head the Financial Service committee.

Bachus received the endorsements of all the ranking members of the committee's subcommittees, but Royce had the high-profile backing of some conservative groups, including an endorsement from The Wall Street Journal's editorial board.

The comment has been seized by liberal groups as an indication that Bachus plans to undercut the implementation of regulations mandated by Dodd-Frank, including derivatives reform.




A post on the Think Progress blog, run by the liberal Center for American Progress, highlighted the comment.

Wonk Room Incoming Financial Services Chairman: Washington’s Role Is ‘To Serve The Banks’



"Rarely has a Republican lawmaker laid out so starkly just whose interests he believes Washington is supposed to be protecting," the post stated.






Rep. Spencer Bachus (R-AL)

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Old 12-13-2010, 9:14pm   #2
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The roof fell in at the Metrodome and get the banks to fix the roof
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Old 12-13-2010, 9:16pm   #3
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The roof fell in at the Metrodome and get the banks to fix the roof

Beck said it debunked Global Warming ... he might want to warm up to Tinkerbell ...


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Old 12-13-2010, 9:17pm   #4
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Beck said it debunked Global Warming ... he might want to warm up to Tinkerbell ...


I need to get the take from Al Gore he is the expert on Global Warming
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Old 12-13-2010, 9:21pm   #5
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I need to get the take from Al Gore he is the expert on Global Warming
Al Gore is so full of hot air that he could single handedly re-pressurize the dome in spite of the tears.
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Old 12-13-2010, 9:37pm   #6
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A famous person once said Everyone is a Comedian; few are Funny.
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Old 12-13-2010, 9:49pm   #7
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so....it was just a Freudian slip? .........riiiiiight.
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Old 12-13-2010, 9:52pm   #8
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so....it was just a Freudian slip? .........riiiiiight.
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Old 12-15-2010, 8:45am   #9
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What famous person was that?
Well if you don't know, then you don't know.
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Old 12-15-2010, 12:09pm   #10
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Translation: Chas pulled more garbage out of his rectum.
Better me than you ...
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