"The announcement that Goldman Sachs has re-purchased the warrants it issued to the government at the full asking price is good news for American taxpayers. On a $10 billion investment, the taxpayers have earned a total return of $1.418 billion, an annualized return of 23 percent. "While I have opposed the continued policy of government bailouts, it appears Goldman… Read more »
- Congressman Spencer Bachus, the top Republican on the Financial Services Committee, wrote to Chairman Barney Frank last week requesting a hearing to inquire into the differences between the government's treatment of creditors and counterparties of American International Group (AIG). In the letter, Ranking Member Bachus states, "On several occasions, questions have been… Read more »
- Congressman Spencer Bachus, the top Republican on the Financial Services Committee, made the following statement today regarding the implementation of the Secure and Fair Enforcement for Mortgage Licensing Act, which he authored. "The significant progress that has been made in complying with the SAFE Act will protect consumers as they navigate the home financing process. … Read more »
Congressman Spencer Bachus, the top Republican on the Financial Services Committee, made the following statement today regarding the Administration's legislative language to create a Consumer Financial Protection Agency: " The proposed CFPA appears to be premised on the idea that Washington is better at making financial decisions for all Americans than leaving that choice up to… Read more »
- Prepared remarks of Congressman Spencer Bachus (AL), the top Financial Services Committee Republican, for today's press conference to discuss Committee jurisdiction issues in regards to the Waxman-Markey Bill follow: "It's essential that we have hearings on safely creating a massive, multi-trillion dollar derivative market overnight, and on burdening a struggling housing… Read more »
- Congressman Spencer Bachus (AL), the top Financial Services Committee Republican, made the following statement regarding the Administration's regulatory reform plan: "Last week, House Republicans offered a comprehensive plan for regulatory reform that protects taxpayers, consumers, and investors by making Wall Street responsible for its actions. "Unfortunately,… Read more »
Plan Presents A Clear Exit Strategy From Taxpayer Funded Bailouts, While Modernizing the Financial Services Regulatory Structure Financial Services Committee Republican Leadership, led by Ranking Member Spencer Bachus (AL), unveiled their comprehensive plan to modernize the regulatory structure of the financial services industry during a press conference today. The Republican plan… Read more »
June 9, 2009 Ranking Member Spencer Bachus announced the appointment of Vincent Randazzo as Deputy Staff Director, Communications. In this role, Randazzo will lead the strategic communications efforts at the Committee, including coordination with leadership and member offices. Ranking Member Bachus said, "Vince is a great addition to our team. His extensive experience… Read more »
Congressman Spencer Bachus (AL), the top Financial Services Committee, made the following statement in response to news reports that JP Morgan is subject to an SEC investigation of its dealings with Jefferson County Alabama: "For 12 years I have been calling for greater disclosure and transparency in the municipal bond market. In 1997, I assisted in writing to then SEC Chairman… Read more »
- Congressman Spencer Bachus (AL), the top Financial Services Committee Republican, offered a commonsense amendment aimed at combating scam artists from preying upon struggling homeowners to a larger mortgage bill being considered by the House today. Before the House adopted the amendment, Bachus delivered this floor speech: "Before I begin discussing my amendment, I would like to… Read more »
