Wolves Guarding The (Hen) House
It’s often said that politicians just want to do what lobbyists or special interests tell them to do. Rarely, however, do politicians admit it. Let me introduce Rep. Spencer Bachus (R-AL), your new Chair of the House Financial Services Committee.
Bachus, in an interview Wednesday night, said he brings a “main street” perspective to the committee, as opposed to Wall Street.
“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.
A gaffe was once defined as a politician inadvertently speaking the truth. I don’t think we’re likely to get a better example of a gaffe any time soon.Click here for reuse options!
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