Kristopher V

Now we understand why Rep. Spencer Bachus (R-AL) has been railing against Socialists in Congress…capitalism hasn’t been too kind to Spencer lately…

Alabama Rep. Spencer Bachus , the top Republican on the committee that oversees Wall Street, lost enough in campaign investments to register a rare negative fundraising quarter for the first three months of 2009.

In a report filed with the Federal Election Commission, the ranking Republican on the Financial Services Committee disclosed $35,125 in contributions received — most of it from an assortment of political action committees and pawnbrokers — and “other receipts” of minus $61,700.

With a few other numbers factored in, Bachus ended up losing nearly $25,000 from Jan. 1 through March 31.

Bachus spokesman Tim Johnson confirmed that the unitemized “other receipts” in Bachus’ filing represented investment losses.

But it’s okay…the economy will improve and his investments will turn around…thanks to the Socialists in Congress. (I’m kidding…kidding…)

via CQ Politics | Market Losses Give Wall Street Overseer Negative Quarter.