Banking Law

From a narrowly selfish standpoint, that of a blogger who enjoys reading fodder to feed his need for posting, the fact that Rep. Spencer Bachus is turning out to be as much of a mock-worthy politico as his Democratic counterpart Barney Frank is a glad tiding to ring in this holiday season. As a citizen of a country that could use intelligent leadership, however, especially when it comes to the banking grease that keeps the economic wheel turning (albeit slowly these days), he fills with me with inertia.

Last month, he was in a lather about the "threat" of US banks moving to Botswana, Chad, or some other offshore banking havens because of the Volcker Rule. Last week, he gave an interview to a home-state (Alabama) newspaper in which he made a statement akin to "I come not to regulate banks, but to serve them." Democrats (rightly) jumped "his stuff" over that one, including his clown college roommate Barney, who bloviated that Bachus' remarks revealed "a seriously flawed view of the relationship that should exist between financial institutions and those who set the rules governing safety and soundness." Well, Barn, when it comes to "seriously flawed views of the relationship that should exist between financial institutions and those who set the rules governing safety and soundness," all we can say is "it takes one to know one." For entirely different reasons, you and you Republican buddy are two peas in a pod.

Unfortunately, it's a "pod" from the movie "The Pod People," and you're both worthy of being forced to answer the question posed by Crow T. Robot in an episode of MST3K dedicated to mocking that movie: "What is it about the Gates of Hell that compels people to walk through them?"