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« William K. Black on The Latest Keiser Report -- Banking Rackets & Financial Fraud (Awesome Clip) | Main | Protestor Throws Apple Pie In Sen. Levin's Face (VIDEO) »
Tuesday
Aug172010

HYPOCRITICAL SCALLYWAG: GOP Congressman Bachus defends 'near death' vote for TARP

I find this definiton of scallywag to be the most appropriate:

  • "A person who is known to be a treacherous lying son-of-a-bitch, and usually smells bad."

Story, quotes, and unbelievably hypocritical video are inside.

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Video:  Scallywag Rep. Spencer Bachus says "End the bailouts"

The only problem for Bachus is that he voted 'yes' on TARP, the greatest and most obscene of all the bailouts.  Fracking hypocrite.

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The top Republican on the House Financial Services Committee said he does not regret voting for the 2008 financial bailout, but that it was a political "near death experience."

Rep. Spencer Bachus (R-Ala.) said the $700 billion bailout, known as the Troubled Asset Relief Program (TARP), was necessary at the time, but that he and Republicans feel new Democratic financial regulatory legislation "institutionalizes" future bailouts.

"A lot of people who I respect said you have to act. So we did act," Bachus said in an interview taped for C-SPAN's "Newsmakers" program. "I don't know what would have happened if we hadn't. I imagine most economists said it needed to be done. I think most of those same economists say now if you continue to do this you'll create moral hazard by the bucket load."

Bachus said that in the fall of 2008 constituents urged him strongly to oppose the TARP legislation. He said he and other Republicans successfully added provisions that required banks to pay dividends and issue warrants to the federal government as part of the package. Bachus voted for the original bill setting up the TARP program.

"People in my district were saying 99 to one, you know, I'm opposed to this," Bachus said. "I voted for it because I felt like it was necessary. It was a near death experience. I can tell you it was a gift that keeps on giving."

 

 

 

 

 

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Reader Comments (12)

http://www.c-span.org/Watch/Media/2010/06/13/HP/A/34131/Rep+Spencer+Bachus+RAL.aspx

c-span video where he makes the claims about tarp and his near-death experience...bastard...
Aug 17, 2010 at 3:45 PM | Registered CommenterDailyBail
"People in my district were saying 99 to one, you know, I'm opposed to this," Bachus said. "I voted for it because I felt like it was necessary. It was a near death experience. I can tell you it was a gift that keeps on giving."

Some will be shocked that this blatant demonstration of anti majority rule occurred in an alledged "Democracy" (it has not been the first time), others will continue with their favorite tv shows, and vote for him next election strictly over affiliation.

Don't worry, Bachus and the others will be rewarded for their servitude.
Aug 17, 2010 at 4:26 PM | Unregistered CommenterS. Gompers
They're all puppets dancing to what ever strings the elite rulers are pulling.

99 to one means nothing to any of them. I figure our Democratic Republic died the day the Federal Reserve Act was enacted.

For the last 97 years the elite few have been using their government puppet show and the FED to gather the wealth of the people unto themselves. Pukes like Rep. Spencer Bachus are making sure it happens that way.

He knows if he gets voted out ( as Gompers says) " He will be rewarded for his servitude".

As far as he's concerned, those Constituents who were 99 to one against the tarp can kiss his rosy red ass he works for a higher power.
Aug 17, 2010 at 6:06 PM | Unregistered CommenterSagebrush
Have we forgotten what Bernanke and Paulson told them...

Start at 2:08..."Look, I was there when the Secretary and the Chairman of the Federal Reserve..."

http://www.youtube.com/watch?v=pD8viQ_DhS4

It was a shameful shakedown!!! The threatened that the entire banking system would collapse.

SO…this all makes Bachus the hypocrite?

This is another one of those posts that needs to be a lot more certain as to on the point it is trying to make.

DB…Are you supporting Bachus?
Would you have had the stones to just ignore the dire imminent predictions on the collapse of the banking system and let the chips fall without taking any action?
Will you not let the GOP help us not only apply the brakes but put this ship in full reverse?

Sorry, but this entire post is phony bullshit. What conclusions do you want us to draw DB? Man up, don’t pussyfoot with this stuff. If you want to get closer to Ron Paul and the original Tea Party, you need to rethink this direction. You say it yourself DB, they are politicians. Give them a way to save face and change course or you will get more of the same.

You got Gomp and Sage on your tiny ship to nowhere.

“Those who do not learn from history are doomed to repeat it”. George Santayana
Aug 17, 2010 at 6:42 PM | Unregistered CommenterZ
SO…this all makes Bachus the hypocrite?

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I thought i t was obvious with the video i posted above...bachus supported and STILL supports the TARP bailout...but he went on C-Span screaming to end the bailouts...you don't see hypocrisy there?...i thought I was quite clear with my point...
Aug 17, 2010 at 7:01 PM | Registered CommenterDailyBail
Hey, the average politician doesn't get it. I will give you that much. They never get to or want to see where the rubber meets the road. Their Congressional trips are to Copenhagen, Paris and to vacation hot spots.

Sorry, I see a guy trying to apply the brakes. I think he is starting to see what is happening...

http://www.bloomberg.com/news/2010-08-17/geithner-says-fannie-mae-freddie-mac-need-overhaul-to-reduce-u-s-role.html

Maybe he is too proud or too slow to understand what TARP was for and who it was for but I really do think he is getting it. I think there are way better ways to make your point. A lot of politicians (Obama) are not only staying the course but digging in deeper.
Aug 17, 2010 at 7:16 PM | Unregistered CommenterZ
If it is hypocricy, it is throwing an apple pie hypocrisy. I like apple pie.
Aug 17, 2010 at 7:18 PM | Unregistered CommenterZ
A lot of politicians (Obama) are not only staying the course but digging in deeper.

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Couldn't agree more and i've written dozens of stories on obama and his love of bailouts...but i think you are mistaken to think that bachus is figuring it out...maybe you didn't check the dates of the components of this story...the c-span interview where he says end all the bailouts is from Dec. of 2009...and the story from the Hill about how he STILL supports his TARP vote is from June of 2010...so your thesis that he is figuring it out with time is completely wrong...

We both know the real problem, you simply don't like to hear ANY negative stories about Republicans...and you react and strike out without thinking whenever you read one...otherwise you would have taken the time to see that everything i said about bachus is true...he's all for show...hypocrisy at its worst...and sadly, sometimes your analytical prism is too heavily tainted by a preference for politics over truth...

Republicans are lying hypocrites just like Democrats...one day you will get my point...i hope...
Aug 17, 2010 at 7:41 PM | Registered CommenterDailyBail
"Republicans are lying hypocrites just like Democrats."

D.B. I think you hit the nail on the head.

I myself don't differentiate between Democrats and Republicans any more. Except for Ron Paul and a few others of both parties I see them all as corrupt lying hypocrites.

Problem is unless we completely reform our electoral process, and they will fight like hell to prevent that from happening, the controlling majority of our government will remain corrupt lying hypocrites until we do.
Aug 17, 2010 at 9:00 PM | Unregistered CommenterSagebrush
"Problem is unless we completely reform our electoral process, and they will fight like hell to prevent that from happening, the controlling majority of our government will remain corrupt lying hypocrites until we do. "

And the faithful of both parties will do everything in their power to insure the ping pong game continues, as both herds can see no flaw in their own sacred cows. Meanwhile the true agenda marches on...
Aug 17, 2010 at 9:10 PM | Unregistered CommenterS. Gompers
That is indeed the problem gomp...how do we get a majority elected who are not corrupt, lying hypocrites...the elections of 2010 and 2012 will be the first true test...we are at a point in our history i think where one could honestly say that we are nearing a tipping point...the anger at government is more palpable than at any time in the last century, save for the 2 years of anger and malaise that surrounded watergate...
Aug 17, 2010 at 9:25 PM | Registered CommenterDailyBail
I have been trying to educate Bachus's followers for more than a decade. Google terry reagin and you will see. He is a huge part of our country's financial problems yet his supposedly conservative followers continue to look the other way

Semper fi
Sep 8, 2011 at 1:38 PM | Unregistered CommenterTerry Reagin

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