Alabama Republican Spencer Bachus, the incoming chairman of the House banking committee, suggested Congress and federal regulators should play a subservient role with banks.
"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," Bachus told The Birmingham News in an interview.
The Republican leadership last week designated Bachus the next chairman of the powerful House Financial Services Committee, which is tasked with overseeing banks, financial markets, housing and consumer credit.
Democrats characterized the remark as a Freudian slip, nicknaming the Alabaman "Big Bank Bachus" and claiming the new Republican-controlled House will put the interests of financial institutions ahead of the American public.
"Congressman Spencer 'Big Bank' Bachus has given Americans a startlingly honest answer about the House Republican agenda – do whatever is good for the big banks and Wall Street special interests, rather than what’s good for hardworking Americans,” said Jesse Ferguson, a spokesman for the Democratic Congressional Campaign Committee.
I don't think it was a slip at all. He only went back and tried to clear up his position after Democrats pointed out what he said and that it sounded like he was admitting that Republicans existed to serve the nation's big banks. Somebody else had to point out to him that actually admitting that might be a problem.
But that's how Republicans roll. I maintain that Bachus felt there was nothing wrong with what he said at the time he said it, because, after all, it was the truth.
Republicans get in trouble when they tell the truth, you see.
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Republicans get in trouble when they tell the truth, you see.
really? i haven't seen much evidence of that in the last few years. either them telling the truth or getting called out on the rare occasions when they do.
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