Press Releases

- Financial Services Committee Ranking Member Spencer Bachus today praised Senate Republicans for voting to ensure the Senate considers real financial reform that will end "too big to fail" and address the root causes of the financial crisis. "The action taken by Senate Republicans is a step in the right direction to ensure we adopt policies that address the real cause… Read more »

- Financial Services Committee Ranking Member Spencer Bachus wrote to Treasury Secretary Tim Geithner for the second time in six months asking him to answer specific questions on how the bailout authority that the Obama Administration is advocating will work and how much money will be needed to "resolve" a failed non-bank. "I asked you six months ago to answer how the… Read more »

- Financial Services Committee Ranking Member Spencer Bachus today released the following statement regarding the SEC Inspector General's report detailing numerous instances of SEC employees using government computers and time to view pornography. "The disturbing revelations in this report are further evidence of a much larger problem facing the agency.  This may help… Read more »

- Financial Services Committee Ranking Member Spencer Bachus today released the following statement in response to President Obama's remarks on financial regulatory reform in New York.  "If President Obama is serious about creating a solid foundation for our economy, he should start by reining in his out of control spending and letting the free market he so strongly claims… Read more »

  Democrat Proposals Create A Command and Control Regime    April 21, 2010 -Financial Services Committee Ranking Member Spencer Bachus today made the following remarks on the Democrats' bailout bill during a House Republican leadership press conference: "There are three things in the bill that are different.  There are a lot of things that are… Read more »

-Financial Services Committee Ranking Member Spencer Bachus today made the following statement during the Full Committee hearing entitled "Public Policy Issues Raised by the Report of the Lehman Bankruptcy Examiner." "In response to disturbing revelations of accounting manipulations revealed by the Lehman bankruptcy examiner last month, I called upon Chairman Frank to… Read more »

- Financial Services Committee Ranking Member Spencer Bachus today released the following statement upon reports that the Securities and Exchange Commission charged Wall Street firm Goldman Sachs with civil fraud. "Today's action by the SEC is yet another reason why we need real financial regulatory reform that starts with ending the bailouts.  "The Democrat bailout… Read more »

-Financial Services Committee Ranking Member Spencer Bachus today joined House Republican Leadership for a Tax Day press conference and issued the following statement on the Democrats job-killing agenda. "Republicans are offering real reform and opposing the bad bills that kill jobs and make our economic situation even worse. "Business owners are reluctant to spend,… Read more »

   ***Why don't the Democrats have a plan? Click here for Fannie, Freddie bailout timeline.*** April 14, 2010  -Financial Services Committee Ranking Member Spencer Bachus made the following statement during a full committee hearing on the future of housing finance. "It's been a year and a half since the bail out of Fannie and Freddie, and the Administration… Read more »

***Why don't the Democrats have a plan? Click here for Fannie, Freddie bailout timeline.*** - While Fannie and Freddie continue to hemorrhage billions of dollars, the Obama Administration and Congressional Democrats are intent on ignoring the problem and the need for action. Today, in response to a question from Ranking Member Spencer Bachus, HUD Secretary Shaun Donovan confirmed that… Read more »