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  • Bachus Statement on Demand for Automobile Industry Restructuring Plan
    Nov 20, 2008 - Congressman Spencer Bachus, Ranking Member of the Financial Services Committee, made the following remarks today after the Democrat leadership announced that the Big Three automakers will have to submit to Congress a restructuring plan before receiving a taxpayer bailout. Ranking Member Bachus said... More
  • Ranking Member Bachus Seeks Relief For Retirees Facing Savings Tax Penalty
    Nov 19, 2008 - Congressman Spencer Bachus, Ranking Member of the Financial Services Committee, today said, "Federal tax law should not force seniors to take money from their retirement accounts at a time when the value of their investments has plummeted." Congressman Bachus is an original cosponsor of legislation... More
  • Bachus Statement Regarding TARP Implementation
    Nov 12, 2008 - Congressman Spencer Bachus, Ranking Member of the Financial Services Committee, made the following statement today after Treasury Secretary Paulson announced that Treasury has changed its focus away from buying troubled assets under the Troubled Asset Relief Program (TARP). Ranking Member Bachus sa... More
  • Bachus Statement on UIGEA Rules
    Nov 12, 2008 - Ranking Member Spencer Bachus made the following statement today after the Treasury Department and the Federal Reserve finalized rules to implement that Unlawful Internet Gambling Enforcement Act (UIGEA). Bachus said, “The Treasury and Federal Reserve actions provide the tools needed to put an end ... More
  • House Republicans Urge Justice Department to Investigate Role of Fannie, Freddie in Current Crisis
    Oct 21, 2008 - Congressman Spencer Bachus, Ranking Member of the Financial Services Committee, joined other House Republicans in requesting that the Department of Justice (DOJ) examine the role of Fannie Mae and Freddie Mac in the current financial crisis as part of DOJ’s ongoing “Operation Malicious Mortgage” in... More
  • Bachus Invites Community Banker to Testify at Hearing
    Oct 20, 2008 - Ranking Member Spencer Bachus requested the participation of Mike Washburn, President and CEO of Red Mountain Bank in Birmingham, Alabama to provide the Committee with the perspective of Main Street banks on how the regulatory system should be modernized. Mr. Washburn, will testify on behalf of the... More
  • Bachus Statement on Today's Actions by Financial Regulators
    Oct 14, 2008 - Congressman Spencer Bachus, Ranking Member of the Financial Services Committee, made the following statement today after financial regulators announced comprehensive and coordinated actions to address the current financial crisis. Ranking Member Bachus said, “The coordinated program announced today... More
  • Bachus Letter to SEC on Mark to Market Accounting
    Oct 14, 2008 - Congressman Spencer Bachus, Ranking Member of the Financial Services Committee, sent a letter today to the Securities and Exchange Commission on mark to market accounting. Click here for a copy of the letter. # # # More
  • Committee Republicans Urge Inquiry on GSEs, ACORN
    Oct 14, 2008 - Republican Members of the Financial Services Committee, led by Ranking Member Spencer Bachus, urged Committee Chairman Barney Frank today to invite former executives of Fannie Mae and Freddie Mac to testify at the scheduled hearing on October 21 on restructuring and reform of the financial system. ... More
  • Bachus: Treasury Should Use All Tools to Facilitate Capital in Banking System
    Oct 10, 2008 - Congressman Spencer Bachus, Ranking Member of the House Financial Services Committee, made the following statement regarding the ongoing implementation of the Emergency Economic Stabilization Act: “When I first met with Secretary Paulson and Chairman Bernanke on September 18, I said that we needed ... More