Today, the House Financial Services Committee held a formal organizational meeting, establishing subcommittee seats and ranking members positions. Congressman Spencer Bachus (R-AL), the Ranking Republican Member, issued the following statement: "I'm very excited about the talented new and freshman members who will bring diverse professional backgrounds and views to this… Read more »
Congressman Spencer Bachus (R-AL), the top Financial Services Committee Republican, released the following statement today after the House passed a resolution disapproving the release of the remaining $350 billion Troubled Asset Relief Program (TARP) funds: "Before another TARP dollar is spent, the Obama Administration needs to come to Congress and the American people With a… Read more »
Ranking Member Spencer Bachus delivered the following remarks at the Women in Housing and Finance group today. Hello and good afternoon. Thank you Mary Martha for the thoughtful introduction. It is a great honor to speak at what has become one of the premier venues for congressional leaders from both parties and chambers to discuss our economic challenges and landscapes. The swearing… Read more »
Committee Republican Leadership, led by Ranking Member Spencer Bachus, sent a letter today to Chairman Frank urging him to follow regular order and postpone floor consideration of his TARP bill and schedule a Committee mark up. "The original TARP was considered and enacted in a panicked rush to judgment. We are again moving far too quickly in considering whether to approve the… Read more »
Congressman Spencer Bachus, Ranking Member of the Financial Services Committee, made the following statement today regarding the request on behalf of President-elect Obama to receive the $350 billion remaining under TARP. Ranking Member Bachus said, "The economy is in a recession and many Americans are struggling to make ends meet, which is exactly why I feel we should proceed… Read more »
Following is the consensus view of the Republican Committee leadership regarding the TARP program. COMMITTEE TARP POSITION A majority of House Republicans opposed the TARP from the outset because it left the American taxpayer on the hook to pay for a $700 billion dollar bailout and injected government into private sector corporations and the free market. Those Republicans who… Read more »
Congressman Spencer Bachus (AL), Ranking Member of the House Financial Services Committee, made the following statement in response to a New York Times article detailing the ongoing investigations into wrongdoing in the municipal bond market. Ranking Member Bachus said, "For 12 years I have been calling for greater disclosure and transparency in the municipal bond market. In… Read more »
Congressman Spencer Bachus, Ranking Member of the House Financial Services Committee, announced today the selection of Congressman Jeb Hensarling (TX-05) as Ranking Member for the Subcommittee on Financial Institutions and Consumer Credit. Ranking Member Bachus said, "I am excited to appoint Congressman Hensarling as the Ranking Member of the Subcommittee on Financial Institutions… Read more »
Congressman Spencer Bachus, Ranking Member of the House Financial Services Committee, announced today the selection of Congressman Scott Garrett (NJ-05) as Ranking Member for the Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises. Ranking Member Bachus said, "During his six years on the House Financial Services Committee, Scott… Read more »
Congressman Spencer Bachus, Ranking Member of the House Financial Services Committee, announced today the appointments for Ranking Member for the Financial Services Subcommittees. Ranking Member Bachus said, "This Congress the Financial Services Committee will be central in responding to the ongoing financial crisis and will require tackling difficult and complex issues. I have… Read more »
