News List

- 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 »

On July 23, 2008, the Democrat controlled House of Representatives approved legislation to bail out Fannie and Freddie. Just a few months later, on September 7, 2008, the government took over the two Government Sponsored Enterprises.  Since then, the Obama Administration has continued to throw taxpayer money at the companies and their executives, while ignoring the… Read more »

-Financial Services Committee Ranking Member Spencer Bachus made the following statement during a full committee hearing entitled "Second Liens and Other Barriers to Principal Reduction as an Effective Foreclosure Mitigation Program." "Preventing avoidable foreclosures is a serious issue for homeowners that has a great impact on our economy.  A leading credit… Read more »