Patrick McHenryChairman

Washington, April 6, 2011 - Financial Services Committee Chairman Spencer Bachus issued this statement about someone impersonating Ranking Member Barney Frank:

“There certainly does need to be an investigation into who is impersonating Barney Frank because someone who looks and sounds exactly like him said on June 29, 2010, and this is verbatim: ‘I believe we will need a technical corrections bill that goes beyond minor things…I am committed to a bill subsequent to this on things that are not terribly controversial. And I think once we have the bill done, there becomes a mutual interest in technical corrections and clarifications which we would follow up on…’

“One would think a provision that was so egregious that it caused a shutdown of the asset backed securities market and caused the SEC to issue a no action letter would qualify as needing to be addressed.”