Ethics Office Investigates Bachus for Trading on Nonpublic Information

The Washington Post reports that the Office of Congressional Ethics has notified Rep. Spencer Bachus, chairman of the House Financial Services Committee, that it has found probable cause that he violated the ethics rules because of trading on nonpublic information.  Rep. Bachus said in a statement that he welcomes the opportunity to present facts and set the record straight.  The ethics investigation reportedly began last year.  Rep. Bachus is a frequent trader, especially making short-term trades in stock options.  WPost, Rep. Spencer Bachus faces insider-trading investigation