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Bachus Named Chairman of Financial Services Committee

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: The House Republican Conference today confirmed the Steering Committee's choice of Congressman Spencer Bachus (R-AL) as Chairman of the House Financial Services Committee.  Bachus has been a member of the Financial Services Committee since 1993, and has served as Ranking Member since 2007. "This is a tremendous honor and I'm grateful for the support from incoming House…

Bachus: Taxpayers Deserve A Real End To TARP

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-  Financial Services Committee Ranking Member Spencer Bachus issued the following statement regarding the Democrats' claim that the Troubled Asset Relief Program (TARP) will end on October 3rd. "The TARP program is alive and actively funding the Democrats' liberal agenda. While Americans want an end to TARP and all taxpayer-funded bailouts, Democrats are intent on continuing…

Bachus Interview on CNBC: Democrat Governor Ed Rendell Says GSE Reform Should Have Been Included in Dodd-Frank Act

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Financial Services Committee Ranking Member Spencer Bachus today joined Pennsylvania Governor and former DNC Chairman Ed Rendell on CNBC's "Squawk Box" to discuss the need to reform Fannie Mae and Freddie Mac, the two government sponsored entities at the heart of the financial crisis that are propped up by unlimited taxpayer support. During the interview, Rendell expressed agreement with…

Bachus: Democrats Vote Once Again to Extend Taxpayer-Funded Bailouts

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-  Financial Services Committee Ranking Member Spencer Bachus said the Democrats voted once again to extend taxpayer-funded bailouts by rejecting this week's YouCut submission, offered by Rep. Eric Paulsen (R-MN), that would permanently end TARP and the billions of dollars in programs that were created under its authority. "Extending the taxpayer-funded bailouts is a clear…

Democrats Let the Clock Run Out on Fannie/Freddie Reform

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"The failure of the Democrats to even consider meaningful reforms to fix Fannie Mae and Freddie Mac - the two government sponsored entities at the heart of the financial crisis that are propped up by unlimited taxpayer support - is irresponsible, and a total abdication of congressional responsibility.  Committee Republicans have offered plans to shut off the $150 billion (and…

Bachus Floor Statement Supporting Repeal of Section 929I of Dodd-Frank to Ensure Transparency, Accountability at the SEC

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-  Financial Services Committee Ranking Member Spencer Bachus made the following statement during House consideration of legislation to repeal section 929I of the Dodd-Frank Act. "Madam Speaker, I rise in support of S. 3717, legislation to amend and repeal a provision of the Dodd-Frank Act - Section 929I- that grants the Securities and Exchange Commission a broad exemption…

Bachus Statement On A Pledge To America

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- Financial Services Committee Ranking Member Spencer Bachus issued the following statement on the release of A Pledge to America, which was presented today by House Republicans after an unprecedented initiative of  listening to the views and concerns of Americans across the country. "America is the largest economy in the world, larger than our four next…

Bachus Calls On Secretary Geithner to Focus on Producing Economic Certainty

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-  Financial Services Committee Ranking Member Spencer Bachus made the following statement during a full committee hearing on "The State of the International Financial System, Including International Regulatory Issues Relevant to the Implementation of the Dodd-Frank Act." "America is the largest economy in the world, larger than our four next competitors.  We…

Bachus Statement on President Obama's CNBC "Town Hall"

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  -  Financial Services Committee Ranking Member Spencer Bachus today released the following statement as President Obama deflected all blame for Americans' economic woes during a "town hall" hosted by CNBC in Washington, D.C.  "The record levels of government spending and deficits, along with political uncertainty over the Democrats'…

Bachus Statement on President Obama's Appointment of Elizabeth Warren as "Credit Czar"

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  September 17, 2010 -  Financial Services Committee Ranking Member Spencer Bachus today released the following statement upon reports of President Obama's decision to override the clear intent of the law by placing Professor Elizabeth Warren in a staff level "credit czar" position, running the powerful new financial regulatory agency.  "The…