Spencer Bachus Hit with Ethics Probe

Powerful online poker enemy neutralized by insider trading suspicions?

by , Feb 11, 2012 | 6:07 pm

Online pokerers can get their schadenfreude on, as one of our game’s staunchest opponents, Spencer Bachus (R-AL) faces a Congressional ethics probe for insider trading violations.

The independent, non-partisan Office of Congressional Ethics believes Bachus was “betting” the stock market with privileged information, the Washington Post reports.

OCE says they’ve been looking at the current Chairman of the House Financial Services Committee for more than a year to confirm suspicions that, essentially, Bachus, an active trader, was operating like a stock-options superuser! OK, maybe not exactly, because you gotta think Bachus woulda banked more than a few thousand bucks here and there if he were truly the Russ Hamilton of Wall Street politics. But still …


DC Power Broker? A leader in the cause of stifling online poker, seen here with his wife at an event honoring Rafe Furst and Phil Gordon, two Full Tilt Poker pros.

Regardless of whether or not this level of OCE censure might ultimately land Bachus in prison a la Martha Stewart (it’s often a fine line between unethical and illegal) Bachus’ woe is a big win for poker because such allegations alone effectively neutralize his power and influence on Capitol Hill. In the War on Poker, Bachus has been a General for the other side post-UIGEA, and twice before has shown the ability to stop online poker legalization efforts in their tracks by persuading other members to line up behind him on our issue. But not this go-round, it would seem …


One Comment to “Spencer Bachus Hit with Ethics Probe”


  1. Nick Bordeau
    says:

    There is a god! Scoreboard please… Poker = 1, 
    Bachus = Prison! Hooray for poker.

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