Press Releases

   The bailout tab for Fannie and Freddie reached $145 billion this week and scrutiny of the taxpayer funded GSE's reaches a new high. And what do the Senate Democrats do to address the billions of taxpayer dollars lost? They promise to study the issue some more. Meanwhile, Senator McCain should be commended for offering an amendment that protects the American… Read more »

- Financial Services Committee Ranking Member Spencer Bachus today called on the Senate to quit ignoring the "elephant in the room" as Fannie Mae, one of the Government Sponsored Enterprises that has been bailed out with billions of taxpayer dollars, reported a $13 billion loss in the first quarter and requested $8.4 billion in more government funding.  "You… Read more »

- House Financial Services Committee Ranking Member Spencer Bachus today sent a letter to Senate Majority Leader Harry Reid, Republican Leader Mitch McConnell, and Senators Chris Dodd and Richard Shelby requesting the American public to have 30 days to review the amended version of the financial regulatory reform bill prior to the Senate's final consideration.     … Read more »

- Financial Services Committee Ranking Member Spencer Bachus made the following statement after Freddie Mac released its first quarter report for 2010 and news broke of a memo to the White House in which Chairman Barney Frank claimed Fannie and Freddie are not losing any money.  Freddie Mac reported $ 6.7 billion in losses and requested $10.6 billion in taxpayer dollars. … Read more »

Politico reports that in a memo addressed to White House Chief of Staff Rahm Emanuel, HUD Secretary Shaun Donovan, Treasury Secretary Timothy Geithner, and Senate Banking Committee Chairman Chris Dodd, Chairman Barney Frank urged Democrats to fight back on Fannie and Freddie, arguing that housing reform does not need to be included in financial regulatory bill and defending the… Read more »

- Financial Services Committee Ranking Member Spencer Bachus today said that a White House report entitled "Top Ten Most Wanted Lobbyist Loopholes" conveniently omits any mention of numerous carve-outs and loopholes for favored Democrat constituencies in the regulatory reform bill currently pending in the Senate and supported by the White House. "The White House-backed… Read more »

"Jerry, just remember, it's not a lie if you believe it."  -- George Costanza In what can only be described as an act of political projection, White House Communications Director Dan Pfeiffer today posted on the official blog a list of "Lobbyist Loopholes" to watch as the regulatory reform debate unfolds in the Senate, ambiguously highlighting one that he… Read more »

- Financial Services Committee Ranking Member Spencer Bachus today made the following statement regarding the DISCLOSE Act, which was introduced by Senator Charles Schumer, the former Chairman of the Democratic Senatorial Campaign Committee, along with the companion bill drafted by Representative Chris Van Hollen, the current chairman of the Democratic Congressional Campaign Committee. … Read more »

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@font-face { font-family: Cambria Math; } @font-face { font-family: Calibri; } @page Section1 {size: 8.5in 11.0in; margin: 1.0in 1.0in 1.0in 1.0in; mso-header-margin: .5in; mso-footer-margin: .5in; mso-paper-source: 0; } P.MsoNormal { MARGIN: 0in 0in 0pt; FONT-FAMILY: "Times New Roman","serif"; FONT-SIZE: 12pt; mso-style-unhide: no; mso-style-qformat: yes; mso-style-parent: "";… Read more »