Regulators exist to ‘serve the banks,’ next House finance chairman declares

[Modbert]

Regulators exist to ‘serve the banks,’ next House finance chairman declares | Raw Story

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.

Bachus later told the Birmingham News he merely meant Congress shouldn't micromanage banks.

'Quis custodiet ipsos custodes?

 

[Madeline]

Regulators exist to ‘serve the banks,’ next House finance chairman declares | Raw Story

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.

Bachus later told the Birmingham News he merely meant Congress shouldn't micromanage banks.

'Quis custodiet ipsos custodes?

We have a collection of morons as incoming committee chairs, apparently. Regulators who serve the regulated persons are called "felons", or should be.

 

[Avatar4321]

Do the people serve the politicians or do the politicians serve the people?

Another question for you: do you want the banks serving the politicians?

 

[Madeline]

Do the people serve the politicians or do the politicians serve the people?

Another question for you: do you want the banks serving the politicians?

How's about everyone just do their jobs and stop trying to curry favor or build up a fiefdom?

 

[Avatar4321]

Do the people serve the politicians or do the politicians serve the people?

Another question for you: do you want the banks serving the politicians?

How's about everyone just do their jobs and stop trying to curry favor or build up a fiefdom?

You mean "Forget yourself and get to work"?

Sound advice. We need to empower individuals. Individuals are the basis of a society and if we have weak individuals, we have weak societies.

 

[Yurt]

i see nothing wrong with his statement, and he clarified it...but modbert thought he could get a gop gotcha moment

yawn

 

[Truthmatters]

Hey the banks made their jobs possible

 

[ConHog]

i see nothing wrong with his statement, and he clarified it...but modbert thought he could get a gop gotcha moment

yawn

Truth.

 

[Avatar4321]

Hey the banks made their jobs possible

The banks make alot of our jobs possible. See they loan people money to start businesses and those business owners hire us.

Is that somehow bad? I thought we wanted more jobs.

 

[loosecannon]

i see nothing wrong with his statement, and he clarified it...but modbert thought he could get a gop gotcha moment

yawn

You say he clarified it, got a link?

Because on it's face it sounds disastrous considering his new position. I mean we all know it is true, actions have already spoken louder than words, the banks get full comfort and support from the feds while we the people get double talk and crumbs.

But to actually say it as if it wasn't a bombshell betrays a callousness that is intolerable.

 

[Agit8r]

ANNNNNNNNNNND, bushism rears its ugly head again

 

[Agit8r]

Do the people serve the politicians or do the politicians serve the people?

Another question for you: do you want the banks serving the politicians?

to be quite frank, i would like the regulators to serve the interest of the people

 

[Madeline]

Do the people serve the politicians or do the politicians serve the people?

Another question for you: do you want the banks serving the politicians?

to be quite frank, i would like the regulators to serve the interest of the people

Bingo.