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House Republicans on Wednes­day promoted (Spencer) Bachus to chairman of the House Financial Services Committee, which has wide juris­diction over banks, capital markets, housing, consumer credit and the overall health of the American fi­nancial system. Come January, the 62-year-old lawyer from Vestavia Hills will be in the national limelight as the new Republican majority prepares to rework the landmark Wall Street reforms passed earlier this year.

"In Washington, the view is that the banks are to be regulated, and my view is that Washington and the regulators are there to serve the banks," he said.
He later clarified his comment to say that regulators should set the parameters in which banks operate but not micromanage them.

http://blog.al.com/sweethome/2010/12/sp ... ts_hi.html

Refreshingly honest.

kalm wrote:

House Republicans on Wednes­day promoted (Spencer) Bachus to chairman of the House Financial Services Committee, which has wide juris­diction over banks, capital markets, housing, consumer credit and the overall health of the American fi­nancial system. Come January, the 62-year-old lawyer from Vestavia Hills will be in the national limelight as the new Republican majority prepares to rework the landmark Wall Street reforms passed earlier this year.

"In Washington, the view is that the banks are to be regulated, and my view is that Washington and the regulators are there to serve the banks," he said.
He later clarified his comment to say that regulators should set the parameters in which banks operate but not micromanage them.

http://blog.al.com/sweethome/2010/12/sp ... ts_hi.html

Refreshingly honest.

So, which banks own HIM.

Traitor to the US. Should be impeached.

Good ol' kalm! Ace instigator, bombthrower and scourge of the right!



Impeachment seems a bit too harsh for a typical politico's malaprop.

Ivytalk wrote:Good ol' kalm! Ace instigator, bombthrower and scourge of the right!



Impeachment seems a bit too harsh for a typical politico's malaprop.

Financial Markets shouldn't have to fear their people, people should fear their financial markets.

Anybody who doesn't think the banks don't own the federal government hasn't paid attention to what has happened since summer 2008. My industry is a prime example with the SAFE ACT setting one set of rules for mortgage opiginators who work for mortgage lenders and brokers but originators who work for banks performing the exact same function are exempt. This applies to both individuals and companies.

Of course this is not anything recent and initially the Gramm, Leach, Bliley Act and later the TARP and stimulus, coupled with the SAFE ACT, really put the banks in charge of everything.

BTW, Bernanke, where is that $3.3 trillion????????

Yep, Barney's turned over a "new page."

Ivytalk wrote:Yep, Barney's turned over a "new page."

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