Spencer Bachus: “It was a colossal and historical failure by the entity that is supposed to be the lead watchdog for these investors, the…”

In this economy, the last thing we need is to make it harder for businesses to operate and employ workers, and by that I mean legitimate businesses.

However, my continued concern is that the program threatens to dry up legitimate sources of credit and financing.

Again, I thank the chairmen, the ranking members, and their staff for putting this together. The resolution process for financial institutions is one of the pieces of unfinished business from the 2008 financial crisis, and we will finish…

The program also can deny legitimate merchants access to financial networks they need to survive.