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  • Bachus: Fannie and Freddie's Blank Check Is Bad Policy
    Dec 24, 2009 - - Congressman Spencer Bachus, the top Republican on the Financial Services Committee, made the following statement after the Obama administration eliminated limits on the bailouts of Fannie Mae and Freddie Mac. "The timing of this Executive Order giving Fannie and Freddie a blank check is no coinci... More
  • Bachus: We Must End, Not Perpetuate the Bailouts
    Dec 11, 2009 - - Congressman Spencer Bachus, the top Republican on the Financial Services Committee, made the following statement regarding H.R. 4173, a bill passed today by the majority Democrats that would make federal bailouts of failed non-bank financial companies permanent. Ranking Member Bachus said, "This ... More
  • End The TARP Program
    Dec 9, 2009 - December 9, 2009 TARP Is Not Making A Profit For Taxpayers. To date, the Treasury Department has received around $13 billion from interest and dividend payments, the sale value of stock and the sale of stock warrants for the government's financial interventions using the TARP program, and Treasury p... More
  • Bachus: We Need To End TARP, Taxpayers Must Be Repaid
    Dec 8, 2009 - - Congressman Spencer Bachus, the top Republican on the Financial Services Committee, made the following statement regarding the Obama Administration's plan to divert TARP money to fund its political priorities. Ranking Member Bachus said, "President Obama's plan to use TARP to fund more government... More
  • FBI Confirms Online Gambling Opens Door To Fraud, Money Laundering; Age Verification Software Ineffective
    Dec 3, 2009 - -- In response to a letter from Financial Services Committee Ranking Member Spencer Bachus regarding Internet gambling, the Federal Bureau of Investigation (FBI) rejects vendors' claim that age verification software can adequately prevent children from online gambling. The FBI also warns that techn... More
  • Bachus: Regulators Must Enforce Illegal Internet Gambling Law
    Dec 3, 2009 - UIGEA Continues To Be Needed To Protect America's Youth - Congressman Spencer Bachus, the top Republican on the Financial Services Committee, made the following statement during a full Committee hearing on illegal Internet gambling. "As we all know, Chairman Frank and I approach this very different... More
  • Bachus Opposes Democrats' Permanent Bailout Authority Bill
    Dec 2, 2009 - December 2, 2009 - Congressman Spencer Bachus, the top Republican on the Financial Services Committee, made the following statement regarding Committee passage of the Democrats' H.R. 3996, the so-called "Financial Stability Improvement Act." "The debate was a clear choice between ending the bailout... More
  • Geithner Fails To Provide Information On Financial Regulatory Reform Legislation Submitted To Congress
    Dec 1, 2009 - - More than a month after Treasury Secretary Tim Geithner submitted legislative language to Congress to improve the stability of the financial system, he has failed to provide responses to a number of fundamental questions Ranking Member Spencer Bachus sent to him after the October 29th hearing of ... More
  • Bachus: AIG's Disparate Treatment Of U.S. Regional Banks Must Be Examined
    Nov 24, 2009 - - Congressman Spencer Bachus, the top Republican on the Financial Services Committee, requested information from Treasury Secretary Tim Geithner regarding the disparate treatment of U.S. banks and foreign institutions by insurance giant American International Group (AIG). In March, Bachus urged Fin... More
  • Bachus: Proper Oversight Of The Federal Reserve Is Essential To Financial Regulatory Reform
    Nov 20, 2009 - - Congressman Spencer Bachus, the top Republican on the Financial Services Committee, made the following statement today during Committee consideration of an amendment offered by Rep. Ron Paul (R-TX) that would subject the Federal Reserve to audits by the Government Accountability Office (GAO): "Mr... More