Spencer Bachus Serves His Paymasters: Wall Street & The Banks

From Public Citizen:

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Rep. Spencer Bachus (R-Ala.), the Wall Street crony who leads the House committee in charge of banking policy, has launched a campaign to derail the Volcker Rule, one of the Dodd-Frank Wall Street reform law’s most significant protections designed to keep Wall Street’s recklessness from damaging the broader economy.

Bachus has said that he believes “Washington and the regulators are there to serve the banks,” and his new campaign shows it. 

Echoing the Volcker Rule’s critics on Wall Street, Bachus has called the rule “burdensome,” and is soliciting comments for an “alternative” that is easier on the Big Banks. 

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Here are Bachus' paymasters 

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