“My view is that Washington and the regulators are there to serve the banks.”
Did you miss this revelation? From the new chairman of the House Financial Services Committee– the Congressional body that regulates the banking industry– Spencer Bachus.
Bachus received about $1 million in campaign contributions from the banking industry.
“Now is the time to get the farmers out of the way,” said Bachus, “so the foxes can create chickens and grow the farm.”
There is a Twilight Zone episode in which aliens land on earth promising solutions to all mankind’s problems, energy, food, pollution. They also encourage humans to come visit their planet. They have with them a guide book in their own language which some stubborn scientists have obtained and try to decipher. One of them succeeds. It translates as “To Serve Mankind”.
Hundreds of humans are happily boarding the alien spaceship, breathing a sign of relief.
But just as the protagonist has decided to get on the spaceship and visit the alien world, a friend of his, one of the scientists, rushes to the spaceport. She screams at him, “don’t get on the space ship!”.
They have succeeded in translating the rest of the book.
It’s a cookbook.
Spencer Bachus has arrived, with his cookbook, to serve Americans.
If you thought there might be relief in sight from the Democrats, you should know that Barney Frank himself, the outgoing Democratic chairman, accepted about $1 million in campaign contributions from the banking industry.
I’ll bet the Tea Party people are really upset about that.