"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.
We knew that, but thanks for blurting it out so clearly, Spence.
He later clarified his comment to say that regulators should set the parameters in which banks operate but not micromanage them.
"Clarified" is DC-speak for trying to clean up after a gaffe, i.e. inadvertently telling the truth.
"Republicans putting Spencer Bachus in charge of financial regulation is voting for the fox to guard the henhouse," said Ryan Rudominer of the Democratic Congressional Campaign Committee.
Dude, it's what Repugs do, it's who they are. Their whole focus is be in charge of our money so they can give it to their Masters. They've done this pretty well over the last thirty years.
"To Serve Banks" is a cookbook just like in the old Twilight Zone episode "To Serve Man". Recipes for disaster.
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