Spencer Bachus investigated for insider trading - Poker Legislation

House Financial Services Committee chief Rep. Spencer Bachus is the subject of an insider-trading probe by a congressional watchdog group, the Washington Post reported late Thursday. The Alabama Republican was among those highlighted in a CBS News report on "60 Minutes" about members of Congress allegedly profiting from insider information, a practice that is set to become illegal under a bill recently passed by both houses. The probe into Bachus's trading was opened last year and focuses on "numerous suspicious trades on Bachus's annual financial disclosure forms," the report said, citing unnamed sources. It quoted a Bachus statement as saying: "The Office of Congressional Ethics has requested information and I welcome this opportunity to present the facts and set the record straight."

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02-10-2012 , 12:46 AM

2DMB2LIV

adept

Join Date: Jul 2010 Posts: 1,011

Just like all the other scumbags in congress, that guy is untouchable and nothing at all will happen to him.

Still, hopefully this will somehow destroy his rep, make him go insane, something...one time?

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02-10-2012 , 04:07 AM

SpaceGhost

adept

Join Date: Jan 2011 Posts: 1,089

Breaking on Drudge... Rep. Spencer Bachus (R) is apparently under investigation by the Office of Congressional Ethics... Link to the full story:

http://www.washingtonpost.com/politi...i2Q_print.html

Cross posted to NVG...

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02-10-2012 , 08:50 AM

b finkelstein

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Join Date: Oct 2011 Posts: 667

hope this scumbag gets jailtime.

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02-10-2012 , 08:58 AM

Doc T River

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Join Date: Sep 2007 Posts: 13,059

Nothing will come of it. I've got the book the 60 Minutes investigation was based on and Bachus is just the tip of the iceberg. And it's a damn big iceberg.

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02-10-2012 , 09:43 AM

Riverman

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congressional ethics investigations are beyond lol. google charlie rangel for details.

im sure bachus is terrified of a censure.

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02-10-2012 , 11:53 AM

ChaosReigns

old hand

Join Date: Dec 2010 Posts: 1,974

Agree that nothing will come of it. There are others in Congress who've done the same thing (trading on inside information) and made a whole lot more money. Why aren't they being investigated?

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02-10-2012 , 01:08 PM

Namath12

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Quote:

Originally Posted by Doc T River

Nothing will come of it. I've got the book the 60 Minutes investigation was based on and Bachus is just the tip of the iceberg. And it's a damn big iceberg.

What is the name of the book? I'd really like to read it.

And I agree this is much ado about nothing. "Ethics violations" lol

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02-10-2012 , 01:10 PM

ChaosReigns

old hand

Join Date: Dec 2010 Posts: 1,974

Guessing he's talking about Throw Them All Out. Can't think of how to spell the author's last name, though.

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02-10-2012 , 05:49 PM

#10

Jah Onion

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what i'm hoping for is that it'll at least put a bit of public heat on him so that he might want to shy away from the spotlight for a while, thus maybe not ****ing with any ipoker developments that might arise

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02-10-2012 , 08:29 PM

#11

Riverman

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more likely is that he tries to emphasize his 'morals' by vociferously opposing ipoker

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02-10-2012 , 08:38 PM

#12

Black Hat

veteran

Join Date: Dec 2004 Posts: 2,927

Quote:

Originally Posted by Riverman

more likely is that he tries to emphasize his 'morals' by vociferously opposing ipoker

Probably but hopefully it'll have the opposite effect in that he'll stay away from moral subjects so he doesn't look like the hippocrate that he is.

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02-10-2012 , 08:48 PM

#13

Karak

ELIte

Join Date: May 2004 Posts: 62,726

Quote:

Originally Posted by Riverman

congressional ethics investigations are beyond lol. google charlie rangel for details.

im sure bachus is terrified of a censure.

the difference being bachus is GOP, rangel is DNC :-P. see: tom delay!

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02-10-2012 , 09:00 PM

#14

sajeffe

banned

Join Date: May 2010 Posts: 5,058

Quote:

Originally Posted by ChaosReigns

Guessing he's talking about Throw Them All Out. Can't think of how to spell the author's last name, though.

by Peter Schweizer.

I agree with those who believe Spencer Bachus will just skate through this. What he did wasn't illegal at the time. He's a god in his district here (runs unopposed). Too bad.

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02-10-2012 , 10:23 PM

#15

RiverAnAce

old hand

Join Date: Apr 2009 Posts: 1,227

Quote:

Originally Posted by sajeffe

by Peter Schweizer.

I agree with those who believe Spencer Bachus will just skate through this. What he did wasn't illegal at the time. He's a god in his district here (runs unopposed). Too bad.

Almost unopposed.

Edit: Better link:

http://weldbham.com/secondfront/2012...ont-be-boring/

Last edited by RiverAnAce; 02-10-2012 at 10:35 PM. Reason: Link

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03-08-2012 , 12:45 AM

#16

RiverAnAce

old hand

Join Date: Apr 2009 Posts: 1,227

A local ad against Spencer Bachus:

http://www.youtube.com/watch?v=ch8XXzKwtG8

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03-08-2012 , 05:54 AM

#17

sajeffe

banned

Join Date: May 2010 Posts: 5,058

Interesting. Would be nice if we could actually get him out of D.C. But, I'm afraid Alabama will be like Mississippi, who re-elected the guy who had $90,000 in his freezer.

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03-08-2012 , 06:41 AM

#18

tamiller866

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Join Date: Oct 2008 Posts: 3,651

Are you referring to Rep William Jefferson from New Orleans, Louisiana, who lost his bid for re-election before going to prison?

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03-08-2012 , 07:45 AM

#19

Doc T River

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Join Date: Sep 2007 Posts: 13,059

Quote:

Originally Posted by sajeffe

Interesting. Would be nice if we could actually get him out of D.C. But, I'm afraid Alabama will be like Mississippi, who re-elected the guy who had $90,000 in his freezer.

Quote:

Originally Posted by tamiller866

Are you referring to Rep William Jefferson from New Orleans, Louisiana, who lost his bid for re-election before going to prison?

Another difference is that Jefferson took a bribe they traced while Bachus didn't (hasn't).

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03-09-2012 , 01:36 AM

#20

RiverAnAce

old hand

Join Date: Apr 2009 Posts: 1,227

Quote:

Originally Posted by sajeffe

Interesting. Would be nice if we could actually get him out of D.C. But, I'm afraid Alabama will be like Mississippi, who re-elected the guy who had $90,000 in his freezer.

He must have tons of money. I have seen about 30 or more of his commercials and only one against him. I have not seen even one for either of the other two running against him. I don't think he will lose this primary. I hope a Democrat or independent with some money runs against him in the election.

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03-09-2012 , 04:38 PM

#21

Thew92

Lone Star Advocate

Join Date: Apr 2009 Posts: 498

Who is running against Baucus?

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03-09-2012 , 06:31 PM

#22

RiverAnAce

old hand

Join Date: Apr 2009 Posts: 1,227

Quote:

Originally Posted by Thew92

Who is running against Baucus?

The link is in post 15. ^^^

Beason and Pate.

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03-09-2012 , 07:24 PM

#23

wilmont

enthusiast

Join Date: Feb 2012 Posts: 68

Quote:

Originally Posted by pokerjunky

Probably but hopefully it'll have the opposite effect in that he'll stay away from moral subjects so he doesn't look like the hippocrate that he is.

Not defending but investigating 1 senator for this is like going into a rehab center and arresting 1 person for drug use! They are all guilty as hell.

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03-09-2012 , 08:02 PM

#24

DonkeyQuixote

veteran

Join Date: Jan 2009 Posts: 3,283

Quote:

Originally Posted by sajeffe

Interesting. Would be nice if we could actually get him out of D.C. But, I'm afraid Alabama will be like Mississippi, who re-elected the guy who had $90,000 in his freezer.

FWIW, I think Marion Barry is running for re-election, and may win, again. (One of my favorite pieces of SNL video.)

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03-09-2012 , 08:29 PM

#25

sajeffe

banned

Join Date: May 2010 Posts: 5,058

Quote:

Originally Posted by tamiller866

Are you referring to Rep William Jefferson from New Orleans, Louisiana, who lost his bid for re-election before going to prison?

Yep. My bad. (Short term memory issues.) But I think he did win his primary. Not sure now.

At any rate, I'm almost 100% sure Bachus will win his nomination. He's been endorsed by the Birmingham News as well as by Jeff Sessions.

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