The truth shall set you free (Spencer Bachus)

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

Excerpts:

House Republicans on Wednes­day promoted Bachus to chairman of the House Financial Services Committee, which has wide juris­diction over banks, capital markets, housing, consumer credit and the overall health of the American fi­nancial system. […]  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.

The above requires no comment or, at least, it shouldn’t.

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