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By: Twitter Buttons

Bachus Uses Campaigns Funds To Play Stock Market - Lost $61,700

July 23rd, 2009

Story From “Politics 4 All”

http://politics4all.com/users/theworldaroundyou/blog/1853-now-we-understand-why-bachus-is-ranting

Now We Understand Why Bachus is Ranting

Thu. Apr. 16, 06:41am EST

Now we understand why Rep. Spencer Bachus (R-AL) has been railing against Socialists in Congress…capitalism hasn’t been too kind to Spencer lately…

Alabama Rep. Spencer Bachus , the top Republican on the committee that oversees Wall Street, lost enough in campaign investments to register a rare negative fundraising quarter for the first three months of 2009.

In a report filed with the Federal Election Commission, the ranking Republican on the Financial Services Committee disclosed $35,125 in contributions received — most of it from an assortment of political action committees and pawnbrokers — and “other receipts” of minus $61,700.

With a few other numbers factored in, Bachus ended up losing nearly $25,000 from Jan. 1 through March 31.

Bachus spokesman Tim Johnson confirmed that the unitemized “other receipts” in Bachus’ filing represented investment losses.


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Stan Cooke is a candidate for U.S. Congress - House of Representatives - Alabama's 6th District.

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