News List

- Financial Services Committee Ranking Member Spencer Bachus today said the America Speaking Out (ASO) initiative is the latest effort by House Republicans to ensure real voices are heard in Washington and will guide the debate. "The American people are tired of being ignored when it comes to issues like continued government bailouts and cutting wasteful spending," Bachus… Read more »

To see the letter Ranking Member Spencer Bachus sent earlier today to Chairman Frank click here.  Politico reports: "Majority Leader Steny Hoyer (D-Md.) said the conferees are not likely to be appointed until after the Memorial Day recess, saying it will be done ‘shortly after we get back.' He smiled when asked if the delay was meant to prevent a clock from starting… Read more »

- Financial Services Committee Ranking Member Spencer Bachus today asked the Obama Administration to explain its role in the bailout of ShoreBank in light of recent reports suggesting that the Administration pressured banks that previously received funding under the Troubled Asset Relief Program (TARP) to inject capital into the Chicago-based bank. "The Obama Administration's… Read more »

- Financial Services Committee Ranking Member Spencer Bachus today said Democrats are again voting for more bailouts as the Committee Democrats voted to send a $30 billion bailout bill (H.R. 5297) to the floor without approving key Republican amendments to protect taxpayers and increase oversight. "It's about time the Democrats finally start to focus on one of the driving… Read more »

- Financial Services Committee Ranking Member Spencer Bachus today delivered the following statement during a Full Committee hearing on the Democrats' TARP 3.0 program (H.R. 5297). "Thank you, Mr. Chairman, for calling today's hearing to consider two recently-introduced bills designed to jump-start lending to small businesses.  While Republicans share the goal of… Read more »

- Financial Services Committee Ranking Member Spencer Bachus today said the Senate failed taxpayers once again by killing the only amendment that would have addressed bipartisan concerns on the future of housing finance and reforming Fannie Mae and Freddie Mac.  Senator McCain's amendment was largely based on the comprehensive financial regulatory reform legislation introduced last… Read more »

- Financial Services Committee Ranking Member Spencer Bachus made the following statement today during a Subcommittee hearing entitled, "The Stock Market Plunge:  What Happened and What Is Next?" "The American financial markets are the most modern in the world.  They execute trades more efficiently and economically than ever before.  They are the envy… Read more »

Despite the memo-writing efforts of Chairman Frank to drown out the calls for housing finance reform in the financial regulatory reform bill, nobody's buying the Democrats' spin.  Just ask Rep. Paul Kanjorski - the Chairman of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises - who had a tough morning trying to defend the… Read more »

   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 »