--- title: "Meaning & Key Takeaway of: My view is that Washington and the…" description: "\"My view is that Washington and the regulators are there to serve the banks.\" — Spencer Bachus" image: "https://sms4smile.com/quotes/i/e1c/spencer-bachus-25479_banks_my-view-is-that-washington-and-the-regul_386004.png" --- # My view is that Washington and the regulators are there to… ![“My view is that Washington and the regulators are there to serve the banks.” quote by Spencer Bachus](https://sms4smile.com/quotes/i/e1c/spencer-bachus-25479_banks_my-view-is-that-washington-and-the-regul_386004.png) [Download](https://sms4smile.com/quotes/i/e1c/spencer-bachus-25479_banks_my-view-is-that-washington-and-the-regul_386004.png) [Open image](https://sms4smile.com/quotes/i/e1c/spencer-bachus-25479_banks_my-view-is-that-washington-and-the-regul_386004.png) > “My view is that Washington and the regulators are there to serve the banks.” [Spencer Bachus](https://sms4smile.com/quotes/author/spencer-bachus/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Banks influence regulators to prioritize their interests over public welfare. **In simple terms:** Regulators serve banks more than public. Key Takeaway Advocate for stronger oversight. Themes regulation finance public interest Mood critical concerned Type political analytical When to use this quote - policy making - banking oversight - legislative hearings Key Concepts regulatory capture conflict of interest Questions to Reflect On - How can we ensure regulators act independently? - What safeguards reduce industry influence? A Different Perspective Regulators may lack independence despite reforms. ★ ★ ★ ★ ★ No ratings yet [Banks](https://sms4smile.com/quotes/about/banks/) [Funny](https://sms4smile.com/quotes/about/funny/) [Inspirational](https://sms4smile.com/quotes/about/inspirational/) [Love](https://sms4smile.com/quotes/about/love/) [Regulators](https://sms4smile.com/quotes/about/regulators/) ## Related quotes > [Every time Washington regulators pass down another heavy-handed rule or levy another hefty fine, Colorado loses potential jobs, revenue, and economic security.](https://sms4smile.com/quotes/bob-beauprez/every-time-washington-regulators-pass-down-another-heavy-handed-rule/) [Bob Beauprez](https://sms4smile.com/quotes/author/bob-beauprez/) > [If we have a common currency, the main regulator for policy in the country is the fiscal policy.](https://sms4smile.com/quotes/iveta-radicova/if-we-have-a-common-currency-the-main-regulator-for-policy-in-the/) [Iveta Radicova](https://sms4smile.com/quotes/author/iveta-radicova/) > [Every day Big Government heaps demands and restrictions upon businesses that sink some enterprises, cause others to direct resources away from serving customers and…](https://sms4smile.com/quotes/joel-miller/every-day-big-government-heaps-demands-and-restrictions-upon/) [Joel Miller](https://sms4smile.com/quotes/author/joel-miller/) > [“Whereas if they change a rule and something good happens, they don’t even get a reward. 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It is a state created tool…](https://sms4smile.com/quotes/joel-bakan/the-corporation-is-not-an-independent-person-with-its-own-rights/) [Joel Bakan](https://sms4smile.com/quotes/author/joel-bakan/) ## More by Spencer Bachus > [Today, the technology is there to give early and normally ample warning when a powerful tornado approaches. When a tornado strikes, all of us…](https://sms4smile.com/quotes/spencer-bachus/today-the-technology-is-there-to-give-early-and-normally-ample/) [Spencer Bachus](https://sms4smile.com/quotes/author/spencer-bachus/) > [The rapid growth in many of our suburbs has spawned a booming construction industry eager to hire low wage immigrants who gladly fill these…](https://sms4smile.com/quotes/spencer-bachus/the-rapid-growth-in-many-of-our-suburbs-has-spawned-a-booming/) [Spencer Bachus](https://sms4smile.com/quotes/author/spencer-bachus/) > [In 2003, I introduced and passed The Tornado Shelters Act, which allows local governments to use Community Development Block Grant funds to construct storm…](https://sms4smile.com/quotes/spencer-bachus/in-2003-i-introduced-and-passed-the-tornado-shelters-act-which-allows/) [Spencer Bachus](https://sms4smile.com/quotes/author/spencer-bachus/) > [Pre-teens, teens and college students have unlimited access to the Internet - 24 hours a day, seven days a week. Because of the repeated…](https://sms4smile.com/quotes/spencer-bachus/pre-teens-teens-and-college-students-have-unlimited-access-to-the/) [Spencer Bachus](https://sms4smile.com/quotes/author/spencer-bachus/) > [Immigration in America is a highly polarized issue and there are passionate views on both sides.](https://sms4smile.com/quotes/spencer-bachus/immigration-in-america-is-a-highly-polarized-issue-and-there-are/) [Spencer Bachus](https://sms4smile.com/quotes/author/spencer-bachus/) > [Most illegals are without health insurance, and when these workers need emergency healthcare, the American taxpayer gets stuck with the bill.](https://sms4smile.com/quotes/spencer-bachus/most-illegals-are-without-health-insurance-and-when-these-workers/) [Spencer Bachus](https://sms4smile.com/quotes/author/spencer-bachus/) > [As the number of available jobs has decreased in border states like Texas, cities halfway across America have begun to see an influx of…](https://sms4smile.com/quotes/spencer-bachus/as-the-number-of-available-jobs-has-decreased-in-border-states-like/) [Spencer Bachus](https://sms4smile.com/quotes/author/spencer-bachus/) > [Shockingly, a University of Pennsylvania study says the number of young people addicted to gambling - largely due to increased exposure to the Internet…](https://sms4smile.com/quotes/spencer-bachus/shockingly-a-university-of-pennsylvania-study-says-the-number-of/) [Spencer Bachus](https://sms4smile.com/quotes/author/spencer-bachus/) > [Illegal immigrants are beginning to comprise a black market class of workers in our society, jeopardizing the financial health of companies which play by…](https://sms4smile.com/quotes/spencer-bachus/illegal-immigrants-are-beginning-to-comprise-a-black-market-class-of/) [Spencer Bachus](https://sms4smile.com/quotes/author/spencer-bachus/) > [Harvard Medical School, the University of South Florida and the American Psychiatric Association have all conducted studies showing that the earlier one begins gambling,…](https://sms4smile.com/quotes/spencer-bachus/harvard-medical-school-the-university-of-south-florida-and-the/) [Spencer Bachus](https://sms4smile.com/quotes/author/spencer-bachus/) > [For generations, America has served as a beacon of hope and freedom for those outside her borders, and as a land of limitless opportunity…](https://sms4smile.com/quotes/spencer-bachus/for-generations-america-has-served-as-a-beacon-of-hope-and-freedom/) [Spencer Bachus](https://sms4smile.com/quotes/author/spencer-bachus/) > [For 180 years, we voted in English. That is the true American tradition, and this amendment is true to our heritage, not what has…](https://sms4smile.com/quotes/spencer-bachus/for-180-years-we-voted-in-english-that-is-the-true-american-tradition/) [Spencer Bachus](https://sms4smile.com/quotes/author/spencer-bachus/) > [By encouraging its citizens to violate our border, Mexico is pushing a tremendous welfare burden off of its shoulders and onto ours, while also…](https://sms4smile.com/quotes/spencer-bachus/by-encouraging-its-citizens-to-violate-our-border-mexico-is-pushing-a/) [Spencer Bachus](https://sms4smile.com/quotes/author/spencer-bachus/) > [It is my belief CAFTA will be beneficial for Alabama and the United States as a whole.](https://sms4smile.com/quotes/spencer-bachus/it-is-my-belief-cafta-will-be-beneficial-for-alabama-and-the-united/) [Spencer Bachus](https://sms4smile.com/quotes/author/spencer-bachus/) > [In fact, a University of Connecticut study showed that as many as three in four pre-teens and teens who are exposed to Internet gambling…](https://sms4smile.com/quotes/spencer-bachus/in-fact-a-university-of-connecticut-study-showed-that-as-many-as/) [Spencer Bachus](https://sms4smile.com/quotes/author/spencer-bachus/) [Explore all 23 Spencer Bachus quotes ](https://sms4smile.com/quotes/author/spencer-bachus/) ## More Banks quotes > [What we prefer to do is operate our investment bank in a way that is like what investment banks used to be, which is…](https://sms4smile.com/quotes/warren-stephens/what-we-prefer-to-do-is-operate-our-investment-bank-in-a-way-that-is/) [Warren Stephens](https://sms4smile.com/quotes/author/warren-stephens/) > [We now have power under the Dodd-Frank legislation to break up banks. And I've said I will use that power if they pose a…](https://sms4smile.com/quotes/hillary-clinton/we-now-have-power-under-the-dodd-frank-legislation-to-break-up-banks/) [Hillary Clinton](https://sms4smile.com/quotes/author/hillary-clinton/) > [“Ever notice how the same politicians who claim to be against trickle-down economics have no problem bailing out banks and other politically connected businesses?”](https://sms4smile.com/quotes/colin-m-mcgroarty/ever-notice-how-the-same-politicians-who-claim-to-be-against-trickle/) [Colin M. McGroarty](https://sms4smile.com/quotes/author/colin-m-mcgroarty/) > [My nightmare scenario is that the government saves Citibank once again, as well as the other banks, and business resumes as usual. Then, the…](https://sms4smile.com/quotes/nassim-nicholas-taleb/my-nightmare-scenario-is-that-the-government-saves-citibank-once/) [Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/) > [“The rich run a global system that allows them to accumulate capital and pay the lowest possible price for labour. The freedom that results…](https://sms4smile.com/quotes/charles-moore/the-rich-run-a-global-system-that-allows-them-to-accumulate-capital/) [Charles Moore](https://sms4smile.com/quotes/author/charles-moore/) > [With post offices and postal workers already on the ground, USPS could partner with banks to make a critical difference for millions of Americans…](https://sms4smile.com/quotes/elizabeth-warren/with-post-offices-and-postal-workers-already-on-the-ground-usps-could/) [Elizabeth Warren](https://sms4smile.com/quotes/author/elizabeth-warren/) > [Much of what Germany and France have done in the rescue of Greece has also helped German and French banks, who for a long…](https://sms4smile.com/quotes/mario-monti/much-of-what-germany-and-france-have-done-in-the-rescue-of-greece-has/) [Mario Monti](https://sms4smile.com/quotes/author/mario-monti/) > [The world needs banking but it does not need banks.](https://sms4smile.com/quotes/bill-gates/the-world-needs-banking-but-it-does-not-need-banks/) [Bill Gates](https://sms4smile.com/quotes/author/bill-gates/) > [Banks are the temples of America. This is a holy war. Our economy is our religion.](https://sms4smile.com/quotes/giannina-braschi/banks-are-the-temples-of-america-this-is-a-holy-war-our-economy-is/) [Giannina Braschi](https://sms4smile.com/quotes/author/giannina-braschi/) > [In the old days we were the challenger brand competing against the big banks, but today I go round the world and I sit…](https://sms4smile.com/quotes/lloyd-dorfman/in-the-old-days-we-were-the-challenger-brand-competing-against-the/) [Lloyd Dorfman](https://sms4smile.com/quotes/author/lloyd-dorfman/) > [“The kind of data and the data-analytical perspective privy to banks is quite unique to banks.”](https://sms4smile.com/quotes/hendrith-vanlon-smith-jr-ceo-of-mayflower-plymouth/the-kind-of-data-and-the-data-analytical-perspective-privy-to-banks/) [Hendrith Vanlon Smith Jr, CEO of Mayflower-Plymouth](https://sms4smile.com/quotes/author/hendrith-vanlon-smith-jr-ceo-of-mayflower-plymouth/) > [My father, Cecil Banks Mullis, and mother, formerly Bernice Alberta Barker, grew up in rural North Carolina in the foothills of the Blue Ridge…](https://sms4smile.com/quotes/kary-mullis/my-father-cecil-banks-mullis-and-mother-formerly-bernice-alberta/) [Kary Mullis](https://sms4smile.com/quotes/author/kary-mullis/) > [If your only arbiter of anything is money, really you should... go and rob banks.](https://sms4smile.com/quotes/bruce-dickinson/if-your-only-arbiter-of-anything-is-money-really-you-should-go-and/) [Bruce Dickinson](https://sms4smile.com/quotes/author/bruce-dickinson/) > [No paper trail means no banks. And no banks means cash houses. -Mia](https://sms4smile.com/quotes/fast-five/no-paper-trail-means-no-banks-and-no-banks-means-cash-houses-mia/) Fast Five > [I did something that challenged the banking world. Conventional banks look for the rich; we look for the absolutely poor. All people are entrepreneurs,…](https://sms4smile.com/quotes/muhammad-yunus/i-did-something-that-challenged-the-banking-world-conventional-banks/) [Muhammad Yunus](https://sms4smile.com/quotes/author/muhammad-yunus/) [Browse all 387 Banks quotes ](https://sms4smile.com/quotes/about/banks/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "My view is that Washington and the regulators are there to serve the banks.", "creator": { "@type": "Person", "name": "Spencer Bachus" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/spencer-bachus/my-view-is-that-washington-and-the-regulators-are-there-to-serve-the/", "about": { "@type": "Thing", "name": "Banks" }, "@id": "https://sms4smile.com/quotes/spencer-bachus/my-view-is-that-washington-and-the-regulators-are-there-to-serve-the/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/e1c/spencer-bachus-25479_banks_my-view-is-that-washington-and-the-regul_386004.png", "contentUrl": "https://sms4smile.com/quotes/i/e1c/spencer-bachus-25479_banks_my-view-is-that-washington-and-the-regul_386004.png", "url": "https://sms4smile.com/quotes/i/e1c/spencer-bachus-25479_banks_my-view-is-that-washington-and-the-regul_386004.png", "width": 1080, "height": 1080, "caption": "“My view is that Washington and the regulators are there to serve the banks.” — Spencer Bachus", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Spencer Bachus", "item": "https://sms4smile.com/quotes/author/spencer-bachus/" }, { "@type": "ListItem", "position": 4, "name": "My view is that Washington and...", "item": "https://sms4smile.com/quotes/spencer-bachus/my-view-is-that-washington-and-the-regulators-are-there-to-serve-the/" } ], "@id": "https://sms4smile.com/quotes/spencer-bachus/my-view-is-that-washington-and-the-regulators-are-there-to-serve-the/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```