You're About To Find Out If The GOP Is Caving On Its Anti-Bailout Rhetoric

Spencer Bachus

Photo: Wikimedia Commons

We just mentioned the fight between GOP Rep. Spencer Bachus and Sarah Palin, whom Bachus accuses of costing the GOP The Senate.Bachus is the likely going to be the leader of the House Financial Services Committee, but it’s not a done deal yet. Up against him is California Rep. Ed Royce.

Obviously all of Wall Street is watching this one closely, given the importance of this committee. If the GOP goes with Bachus, then it means they’re selecting a pro-TARP, pro-Fannie & Freddie Congressman, as Reason’s Tim Cavanaugh notes. If they go with Royce, they’re going with someone who opposed all of these things.

We imagine the Tea Party wing is also closely watching this one to see where the party’s head is on this crucial issue.

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