Spencer Bachus 2012 ?   INVESTIGATED FOR INSIDER TRADING

A Pro-Wall-Street Republican career politician who voted to kill Medicare as we know it

According to The Washington Post, the Office of Congressional Investigation has begun an investigation into insider trading by Spencer Bachus.

"OCE investigators have notified Bachus that he is under investigation and that they have found probable cause to believe insider-trading violations have occurred."

"In 2008, Rep. Spencer Bachus, R-Ala., was the ranking minority member of the House Financial Services Committee. That would have put him right in the middle of many of the crucial discussions that had the potential to seriously swing stocks in the financial industry.

"Looking back at Bachus' personal accounts during 2008 reveals that while the most serious chapter of the financial meltdown was unfolding, he was pocketing thousands by trading General Electric options. Many investors will remember that GE was right in the middle of the financial-meltdown scrum thanks to its giant finance arm.

"Between Sept. 10, 2008, and Sept. 19, 2008, Bachus traded $25,217 worth of GE options through 13 transactions. Those trades earned him $5,240. Not a bad take in just over a week.

Bachus did not return our requests for comment."
The Motley Fool

Maybe Bachus finds that $174,000 per year (plus perks) is just not enough.

Supports Big Business (lotsa $).

People? Not So Much.

Spencer, conservative Republican representative..
  - Supported ending Medicare
        as we know it
  - Anti-abortion
  - Pro-business
 
6th Congressional district of Alabama

DOB: December 28, 1947
First elected to U.S. House: 1992
Bio

July, 2011: Republicans are refusing to extend the national debt limit unless THEY dictate the terms (more budget cuts, preserving tax breaks for the rich and corporate jet deductions). Yet:

During Bush Presidency, Current GOP Leaders Voted 19 Times To Increase Debt Limit By $4 Trillion

PURELY PARTISAN POLITICS, as Americans are suffering.

"Goodbye to All That: Reflections of a GOP Operative Who Left the Cult"

By Mike Lofgren, who served 30 years as a professional staff member on Capitol Hill

Top 100 contributors
From the Kochtopus: $10,000

View Bachus' Campaign Contributors

source: Center for Responsive Politics.

From $452,010 to $1,118,999
Assets: 12 totaling $502,010 to $1,134,000
View Bachus' Personal Finance Disclosure

source: Center for Responsive Politics.

JP Morgan loses $2 billion in the same sort of speculative trading that brought the world to its knees. The actual amount could end up double that, or more.

NONE of the Wall Street crooks have gone to jail.

The politicians, especially the Republican politicians like Bachus, oppose REAL regulation to prevent catastrophes of the same sort from happening again.

JP Morgan was resoundingly, and rightfully, criticized.

Spencer Bachus?
Bachus Defends JPMorgan Against Critics

Spencer Bachus works for the banks, not the people.
They pay better.
  

Voted To Kill Medicare As We Know It:
Bachus voted for the Paul Ryan budget to eliminate Medicare as we know it. According to the Congressional Budget Office, medical costs for seniors would skyrocket.

Bachus and his Republican cohorts spent the country into debt during the Bush years. AND they voted time after time after time to raise the debt limit. The debt limit more than DOUBLED.

Yet, now that there's a Democratic president and a tiny group of teabaggers holding Congress hostage, Bachus is apparently willing to let the country go over the cliff. And he's apparently willing to let his constituents pay higher taxes because of an extreme-right purely political ideology of hostage-taking.

What comes first, Spencer?
Party?
Or country?