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Congressman Spencer Bachus: My reputation important to me and you

Staff Report

As your congressman, I view my character and reputation as not only my business, but yours.

A book titled “Throw Them All Out” by Peter Schweizer is premised on the allegation that while Americans were losing their life savings in the financial crisis of 2008, members of Congress were getting rich by trading on inside information. While purposely designed to inflame, it was certainly not true for my wife, Linda, and me.

Although the author asserts I was among those members who profited, like many Americans, my wife and I lost a third of the value of our mutual fund, stock and pension savings in 2008.

The author further attempts to build animosity by claiming Congress is exempt from insider-trading laws. The truth is completely the opposite, as the director of enforcement for the U.S. Securities and Exchange Commission has stated repeatedly under oath. I have never traded on insider information.

Still, these facts did not prevent the author from launching into a long diatribe of false innuendoes concerning my financial investments. Books like this are a dime a dozen, because scandal sells, and distrust of Congress is at an all-time high.

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The Alabama Political Reporter is a daily political news site devoted to Alabama politics. We provide accurate, reliable coverage of policy, elections and government.

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