Morning Quote: Rep. Spencer Bachus “Washington is there to serve the banks”

Rep. Spencer Bachus (R-AL), who will be the new chairman of the House Financial Services Committee in the 112th Congress, to The Birmingham News:

In Washington, the view is that the banks are to be regulated, and my view is that Washington and the regulators are there to serve the banks,

Well, that should fill his campaign coffers with Wall Street money.

Via Think Progress