Congressional Republicans like Rep. Spencer Bachus were already seeking to allow more start-ups to grow into public companies.
Another subject of the CBS investigation was Alabama GOP Rep. Spencer Bachus, the chairman of the House Financial Services Committee.
Securities and investment firms also have solid connections with the ranking member of the House Financial Services Committee, Spencer Bachus, R-Ala.
Last week, U.S. Rep. Spencer Bachus co-sponsored a bill that would approve a measure to delay the implementation of to September 2012.
One of the bills, sponsored by Rep. Spencer Bachus (R-Ala.), would set up a sales tax compact involving at least 20 states.
Spencer Bachus, a Republican congressman who leads the congressional sub-committee that oversees the fund, smelt a political rat and quickly began to investigate.
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The House Financial Services Committee Chairman Spencer Bachus (R-AL) is calling for a law to terminate HAMP along with three other housing related support programs.
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This warning was transmitted in not one but two letters from Rep. Spencer Bachus (R-AL) and Rep. Dennis Kucinich (D-OH) on August 3, 1999 and November 8, 1999.
Now Spencer Bachus, a Republican who chairs the House Financial Services Committee, is said to be under investigation by the Congressional Ethics Office, although he strongly denies any wrongdoing.
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Representative Spencer Bachus urged investors and market players to submit ideas to the House of Representatives Financial Services Committee before September 7, saying that the rule as currently proposed would have a "devastating" impact on the U.S. economy.
Representatives Spencer Bachus (R-AL) and Dennis Kucinich (D-OH) have introduced legislation (HR 2204) entitled the "US Market Security Act of 1999" which would merely require that the names of foreign government-affiliated companies be provided quarterly to relevant Congressional committees.
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What's more, if draft legislation being pushed by House Financial Services Committee Chairman Spencer Bachus (R-Ala.) becomes law, Finra could also end up examining thousands of investment advisors who don't work for brokerage firms--a job now assigned to the SEC and state regulators.
Representative Spencer Bachus, the Republican chair of the House Committee on Domestic and International Monetary Policy, said in a letter to SEC Chairman Arthur Levitt that the regulator should delay the listing by 90 days to give it time to "determine whether sufficient disclosure has been provided to potential investors" in the registration process.
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