Law Blog - WSJ.com (Free subscription) | yesterday
Spencer Bachus, the top Republican on the House financial panel is demanding data on banks he suspects are being asked to take significant haircuts on loans they extended to subsidiaries of AIG.
KeNo's Housing and Economic Portal (Free subscription) | yesterday
KeNosHousingPortal.blogspot.com TOP STORIES : FHA delays the release of disputed audit of its finances - ( www.washingtonpost.com ) The Federal Housing Administration abruptly delayed the release of a long-awaited independent audit of the financial soundness of the agency, citing potential problems with the accuracy of some of the study's economic models. The audit, compiled by Integrated Financial...
The LRC Blog (Free subscription) | 11/21/2009
Just for your record, here is the list of representatives who voted on the Paul-Grayson amendment and how they voted. If you are someone who votes, you might want to remember this if one of the “nays” is your representative. AL-06 Rep. Spencer Bachus – yay CA-12 Rep. Jackie Speier- yay CA-22 Rep. Kevin McCarthy – yay CA-27 Rep. [...]
Campaign For Liberty Blog (Free subscription) | 11/20/2009
By Gary Howard Audit the Fed Amendment Passes House Committee WASHINGTON-November 20, 2009 -During the House Financial Services Committee markup of the Financial Stability Improvement Act of 2009, Congressman Ron Paul's (R-TX) amendment to increase Federal Reserve transparency was passed by a vote of 43 to 26. During the proceeding, parallel amendments were introduced, one by Paul, the other by Congressman...
OpenSecrets.org (Free subscription) | 11/19/2009
Although Bachus isn't new to the House Financial Services Committee, he's relatively new to the committee's ranking member position, which he assumed in 2007. Since 1992, employees and political action committees associated with the financial sector have given Bachus $4 million -- exponentially more than any other sector during that time.
Total Bankruptcy (Free subscription) | 11/18/2009
A new amendment to the U.S. bankruptcy code could help troubled financial institutions reorganize their debts more effectively and eliminate the status of "too big to fail" that has prompted government intervention over the past two years. H.R. 3310, introduced by Rep. Spencer Bachus (R-AL), is called the Consumer Protection and Regulatory Enhancement Act, and would [...]
Jim Hamilton’s World of Securities (Free subscription) | 11/08/2009
SEC Commissioner Pushes Back on Bachus FINRA Amendment to House Legislation SEC Commissioner Luis Aquilar is deeply troubled by an amendment to the House Investor Protection Act that would transfer oversight of a substantial number of investment advisers from the SEC to an industry self-regulator, FINRA, which he describes as outsourcing regulatory responsibility from the SEC. In remarks at the Institute...
Emptysuit (Free subscription) | 11/08/2009
House Vote 887 – H.R.3962: On Passage Affordable Health Care for America Act Result: Passed by 5 votes Date of Vote: November 7, 2009 Roll Call Number: 887 Yes Votes (220) No Votes (215) Member Party Dist. Member Party Dist. Neil Abercrombie D HI-1 Robert B. Aderholt R AL-4 Gary L. Ackerman D NY-5 Todd Akin R MO-2 Robert E. Andrews D NJ-1 Rodney Alexander R LA-5 Michael Arcuri D NY-24 Jason Altmire...
Pokerati | Texas hold'em blog (Free subscription) | 11/06/2009
via the PPA … Sen. Jon Kyl (R-AZ) and Rep. Spencer Bachus (R-AL) have submitted their petition asking Treasury Secretary Tim Geithner and Federal Reserve Chairman Ben Bernanke to ignore requests seeking to delay enforcement of the UIGEA. [DC] Bachus Kyl Letter (11/03/09) Related Posts Banks Prepping for Final Kibosh on Online Poker Payments? (0) Online Poker Needs [...]
Climateer Investing (Free subscription) | 11/06/2009
From the Wall Street Journal's Developments blog: Two House Republicans warned that growing losses at the Federal Housing Administration could lead to a taxpayer-funded bailout and have asked the Department of Housing and Urban Development for data backing up the FHA’s assertion that it won’t need to ask Congress for any taxpayer money. “Congress and HUD must take whatever steps are...
DownWithTyranny! (Free subscription) | 11/05/2009
Yesterday the House overwhelmingly passed-- though not without some tough fights-- Carolyn Maloney's H.R. 3639 , a much needed amendment to the Credit Card Accountability Responsibility and Disclosure Act of 2009. The idea was to establish an earlier effective date for the consumer protections inherent in the original bill. The credit card companies were none to keen to see that pass; and let me come...
The Business Insider (Free subscription) | 11/05/2009
Two House Republicans warned that growing losses at the Federal Housing Administration could lead to a taxpayer-funded bailout and have asked the Department of Housing and Urban Development for data backing up the FHA’s assertion that it won’t need to ask Congress for any taxpayer money. “Congress and HUD must take whatever steps are necessary to ensure that this program operates...
Jim Hamilton’s World of Securities (Free subscription) | 11/02/2009
Bachus Amendment to House Hedge Fund Adviser Legislation Clarifies Fiduciary Duty An important amendment offered by Financial Services Committee Ranking Member Spencer Bachus to the Private Fund Investment Advisers Registration Act, HR 3818, is designed to protect the fiduciary obligations that investment advisers owe their clients. The legislation gives the SEC the ability to define the term "client"...
Wall Street Pit (Free subscription) | 11/02/2009
From a Washington Post article on proposed legislation to regulate overdraft fees: “Rep. Spencer Bachus (R-Ala.) said he avoided overdraft fees with a credit line and asked if many of the problems could be eased with consumer education.” Good on you, Spencer. You have a credit line — which many of...
The Baseline Scenario (Free subscription) | 11/02/2009
From a Washington Post article on proposed legislation to regulate overdraft fees: “Rep. Spencer Bachus (R-Ala.) said he avoided overdraft fees with a credit line and asked if many of the problems could be eased with consumer education.” Good on you, Spencer. You have a credit line — which many of your constituents can’t get — and [...]
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