Washington’s Role Is ‘To Serve The Banks’

[Chomsky]

it doesn't get any more naked than this.

Spencer Bachus, incoming GOP chairman of the House Financial Services Committee, offered up his regulatory philosophy:


"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.



http://blog.al.com/sweethome/2010/12...y_gets_hi.html

[peakishmael]

Re: Washington’s Role Is ‘To Serve The Banks’

"He later clarified his comment to say that regulators should set the parameters in which banks operate but not micromanage them."

to "micromanage" would = actually preventing them from doing something...

to "set the parameters" = shovel lots of $ their way

[shiny!]

Re: Washington’s Role Is ‘To Serve The Banks’

"He later clarified his comment to say that regulators should set the parameters in which banks operate but not micromanage them."

I don't think it's "clarifying" as much as "back peddling".

[Chomsky]

Re: Washington’s Role Is ‘To Serve The Banks’

I don't think it's "clarifying" as much as "back peddling".

LOL. I think it's back-pedaling on (overt) influence peddling.

[KGW]

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



http://www.rawstory.com/rs/2010/12/i...s-serve-banks/

[Chomsky]

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

I posted a link to this yesterday:

http://www.itulip.com/forums/showthr...83977#poststop

[aaron]

Re: Washington’s Role Is ‘To Serve The Banks’

I met him once. It is hard to explain the feeling I got, but if many politicians are psychopathic, he definitely would be included in the bunch. Creepy.

Just did a Google search "max baucus psychopath" --> guess I am not the only one.

[BigBagel]

Congressman..."we serve 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."
Spencer Bachus, the incoming chairman of the House Financial Services Committee.

I actually respect this guy. He's a self admitted slave to banking interests and is not embarrassed to admit it. I wish they all would come out of the closet.

[Chomsky]

Re: Congressman..."we serve banks".

already a thread on this here:

http://www.itulip.com/forums/showthr...ghlight=bachus

[BigBagel]

Re: Washington’s Role Is ‘To Serve The Banks’

This is not Max, it's Spencer.