Skip to Content

Bachus Statement on Recent Financial Market Developments

| Posted in Press Releases

Congressman Spencer Bachus, Ranking Member of the Financial Services Committee, made the following statement today regarding recent developments in the financial markets. Ranking Member Bachus said, "This is not the time for fault-finding or recrimination.  "At this time, we all need to work together to restore stability to the markets and to support our…

House Approves Measure to Enhance SEC Enforcement and Investor Protection

| Posted in Press Releases

Congressman Spencer Bachus was an original cosponsor of bipartisan legislation to enhance investor protection and the competitiveness of our capital markets. The legislation, H.R. 6513, the Securities Act of 2008, was approved by the House of Representatives yesterday. Congressman Spencer Bachus said, "This bill provides new protections for investors during a very tumultuous time…

Bachus Statement on Treasury's GSE plan

| Posted in Press Releases

Ranking Member Spencer Bachus (AL) made the following statement today regarding the Department of the Treasury's four part plan for Fannie Mae and Freddie Mac. Ranking Member Bachus said, "We must all hope that the actions announced today by Secretary Paulson will have the desired effect of stabilizing our mortgage lending markets and protecting American taxpayers. …

Bachus Statement on Fannie and Freddie Developments

| Posted in Press Releases

Ranking Member Spencer Bachus (AL) today made the following statement regarding Treasury's plans for Fannie Mae and Freddie Mac. Ranking Member Bachus said, "Stability in the mortgage lending markets is critical.  Ultimately, what the markets need is a long-term resolution of the status of Fannie and Freddie."

Bachus Applauds FASB's Decision to Delay Accounting Changes

| Posted in Press Releases

Ranking Member Spencer Bachus released the following statement commending the Financial Accounting Standards Board's (FASB) decision to extend their timeline for changes to FASB Statement 140 and Interpretation 46(R).  Ranking Member Bachus said, "FASB's decision to delay their proposed rules is welcome news and will allow regulators and market participants to fully evaluate…

Bachus Request SEC, FASB to Carefully Review Accounting Changes

| Posted in Press Releases

Ranking Member Spencer Bachus sent a letter on July 22, 2008, to the Chairmen of the Securities and Exchange Commission (SEC) and the Financial Accounting Standards Board (FASB) expressing concern regarding their proposed timeline and anticipated changes to FASB Statement 140 and Interpretation 46(R).   Bachus recommends the SEC and FASB extend the deadline for changes to…

Bachus Letter to SEC Regarding Short Selling

| Posted in Press Releases

  Ranking Member Spencer Bachus urged the Securities and Exchange Commission in a letter yesterday to extend their emergency order intended to curb naked short selling. In the letter, Bachus also asked the SEC to consider expanding the emergency order to include additional financial institutions. Click here for a copy of the letter. # # #      

Bachus Statement Regarding the Federal Deposit Insurance System

| Posted in Press Releases

Ranking Member Spencer Bachus (AL) today released the following statement regarding the federal deposit insurance system, increased protections for retirement savings, and the Federal Deposit Insurance Reform Act that he helped author during the 109th Congress. Ranking Member Bachus said, "The deposit insurance reforms enacted in 2006 are serving the system and the nation well as…

Bachus Urges Review of Treasury's GSE Proposal

| Posted in Press Releases

Ranking Member Spencer Bachus (AL) urged Chairman Barney Frank in a letter yesterday to allow for an adequate analysis of the Treasury Department's proposal regarding Fannie Mae and Freddie Mac. Click here for a copy of Ranking Member Bachus's letter. # # #  

Back to top