Last year’s book, “Throw Them All Out,” by the Hoover Institution’s Peter Schweizer, accused various members of Congress of using inside knowledge of the legislative process in Washington, D.C., to get rich as the American economy wilted.
The book singled out Alabama Republican Rep. Spencer Bachus, chairman of the House Financial Services Committee, as one of those members having profited from the 2008 financial collapse. And last week, The Washington Post reported that Bachus is facing an investigation by the Office of Congressional Ethics.
But in an appearance Friday on CNBC’s “The Kudlow Report,” Schweizer suggested there was something else at play — that Bachus is a scapegoat for other members of Congress accused of doing the same thing.
“Well yeah, I named a number of people in the book,” Schweizer said. “He was one of them. You know, I think there was a couple of things going on. Number one – there’s been a big debate on Capitol Hill about dealing with this issue. You’ve had the STOCK Act that passed in the Senate, a different version in the House, and there’s been a lot of criticism that they’ve really softened and weakened the bill.”
And in order to look proactive on this issue, Schweizer said the investigation into Bachus was leaked to make the problem appear less widespread.
“So honestly I think the timing of this leak, this was a leak that this investigation was taking place,” Schweizer said. “I think a lot of it has to do with a desire to show how tough they are being. And I’m a critic of Spencer Bachus, but I think this is really not a problem of one or two individuals. This is a widespread systemic problem. So I think to a certain extent they’re scapegoating him in a way.”