Press Releases

Bachus Statement On Administration's Financial Regulation Proposal

WASHINGTON, January 21, 2010 -

-Congressman Spencer Bachus, the top Republican on the Financial Services Committee, made the following statement today regarding the Obama Administration changing course on financial regulation:

"We believe the problems the president has identified are best addressed by H.R 3310, the regulatory restructuring legislation introduced by Republicans on July 23, 2009.

"The Republican plan would end the bailouts, get the government out of picking winners and losers and restore market discipline.  Accomplishing these goals is essential in reviving our economy and getting Americans back to work.

"This was the first and continues to be the most effective and comprehensive approach to addressing the  excesses that lead to the financial crisis and uncertainties created by repeated government interventions and ever changing policies."

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