Press Releases

- Financial Services Committee Ranking Member Spencer Bachus today called on the Senate to address the future of the Government Sponsored Enterprises (GSEs) as Senate Banking Committee Chairman Chris Dodd announced the failure to reach agreement on a bi-partisan financial regulatory restructuring bill in the Senate. "Fannie Mae and Freddie Mac were at the center of the mortgage… Read more »

- Financial Services Committee Ranking Member Spencer Bachus made the following statement during a Financial Institutions Subcommittee hearing entitled, "Money Services Business Regulation" "Thank you, Mr. Chairman for holding this important hearing about an issue that is long overdue for a fair and effective solution. "Money Services Businesses, or MSBs, offer a… Read more »

- Financial Services Committee Ranking Member Spencer Bachus made the following statement during a Full Committee hearing entitled, "Community Development Financial Institutions (CDFIs): Their Unique Role and Challenges Serving Lower-Income, Underserved and Minority Communities." "Thank you, Mr. Chairman for holding this hearing on the role of Community Development… Read more »

-Financial Services Committee Ranking Member Spencer Bachus released the Committee Republicans views on FY 2011 budget. Click here to view a copy.   Read more »

- Financial Services Committee Ranking Member Spencer Bachus made the following statement on the Republican alternative at today's Full Committee Markup on "Budget Views and Estimates for 2011." Mr. Chairman, this is a substitute amendment that offers a Republican vision of what should be our Committee's budget priorities -- addressing our nation's unsustainable debt path… Read more »

-Financial Services Committee Ranking Member Spencer Bachus made the following statement during a Full Committee hearing on compensation in the financial industry: "We are the largest and strongest economy in the world.  We didn't get there by having government run businesses.  The traditional view, which I share, is that we got there through the free enterprise system in… Read more »

-In response to questions from Financial Services Committee Ranking Member Spencer Bachus on whether federal deficit levels are unsustainable, Federal Reserve Chairman Ben Bernanke said that "given the numbers that the CBO or the OMB have projected, that's right." Federal Reserve Chairman Bernanke warned that "I do think that it's very important that we begin to look at… Read more »

-Financial Services Committee Ranking Member Spencer Bachus made the following statement today during a Full Committee hearing entitled, "Prospects for Employment Growth: Is Additional Stimulus Needed?" "We all want the same thing, Mr. Chairman. We all want every American who wants a job to have a job, and we want those jobs to be real, productive employment. "A… Read more »

-Financial Services Committee Ranking Member Spencer Bachus made the following remarks today during a press conference to announce the Accurate Accounting of Fannie Mae and Freddie Mac Act. "Scott Garrett, our Ranking Member of the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, is to be commended for this legislation to put the taxpayer cost of… Read more »

- Financial Services Committee Ranking Member Spencer Bachus made the following statement regarding Chairman Ben Bernanke's statement on the Federal Reserve Board's strategy for unwinding its extraordinary government intervention in the financial markets: Ranking Member Bachus said, "The term ‘intervention' implies that the government is interfering with economic and market… Read more »