In Financial Crisis, Pelosi Chose Politics Over Statesmanship, Killing Bailout
My colleague Rob Schlesinger takes exception to my earlier post criticizing House Speaker Nancy Pelosi's speech ahead of yesterday's bailout vote. Against expectations, the vote failed, and the California Democrat's unnecessary partisanship appears to have played a role in that. Rob chides late-switching Republicans for sacrificing the nation's interest to playground retaliation for Pelosi's remarks.
As I noted, a good many House members on both the right and the left had already noted their opposition to the bill prior to Pelosi's speech. Even with those "no" votes, the bill was ready to pass. One way or another, the speaker—whose job is to lead the House—managed to tip the balance the other way.
Now, I'm hardly defending those GOPers who might have changed their minds simply because Pelosi was being mean. But the bottom line is that this was a delicate vote, and her decision to use that important moment on the House floor for, as David Brooks' described it, a campaign fundraiser speech, showed extraordinarily poor judgment. She chose politics over statesmanship; is it any wonder that choice prompted the same in others?
Financial Services Chairman Barney Frank has managed to whitewash his full-throated defense of Fannie Mae and Freddie Mac earlier in the decade by claiming that, because the Republicans were then in charge of Congress, ultimately any failure to reform these housing giants was theirs. Well, yesterday, more than 40 percent of House Democrats voted against the bailout (although Frank still manages to entirely blame Republicans). Perhaps the attention should be on why the party in charge of Congress failed to secure a margin large enough to withstand its leader's childish impulses.
Tags: House of Representatives | legislation | politics | Nancy Pelosi
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Democrat Fat Cats
No need for Pelosi to spend more of our hard earned tax money to have an investigation about how the economy failed. We have learned all the reasons why on The FOX NEWS Special regarding The Economy this weekend, and we know now that Pelosi and Barney Frank and Obama (with his other crooked friends in low places), along with the majority of the other democrats were the main part of the problem. Had they all listened to President Bush and McCain a long time ago, none of this would have happened ! We are all wising up out here. Shame on all of you big pork spending pigs with no brains or consience. Every time I have to hear you democrats lie (which is every time you speak) is like watching yet another episode of "As The Stomach Turns." And by the way....shame on you Republicans for being such whimps and not standing up to the Democrats and insisting that things get fixed a long time ago !! We really do need to clean house and get some new representatives who have an educaton in ecomonics and who care about their citizens who voted for them. Thinking of voting Libertarian now , just to send ALL of you losers an even stronger message. WHEW!!!
The Demo-carps did it again
Out of control spending and poor fiscal management has been the ear mark of the Democraps and the Republicons. If you expect this bail out to fix the root problem in this countries economy, you are badly decieved!
Thats like me expecting that my quarterhorse mare will suddenly turn into a thoroughbred stud! It just aint gonna happen.
I have always taken issue with Nancy Pelosi, but I find myself on unfamiliar ground here, for I agree with her, that we should not bail out the high rollers of Wall Street! Yet, it was, in fact the Clinton Administration who fathered this current economic crisis! I quote:
The Real Culprits In This Meltdown
INVESTOR'S BUSINESS DAILY
Posted 9/15/2008
Big Government: Barack Obama and Democrats blame the historic financial turmoil on the market. But if it's dysfunctional, Democrats during the Clinton years are a prime reason for it.
Obama in a statement yesterday blamed the shocking new round of subprime-related bankruptcies on the free-market system, and specifically the "trickle-down" economics of the Bush administration, which he tried to gig opponent John McCain for wanting to extend.
But it was the Clinton administration, obsessed with multiculturalism, that dictated where mortgage lenders could lend, and originally helped create the market for the high-risk subprime loans now infecting like a retrovirus the balance sheets of many of Wall Street's most revered institutions.
Tough new regulations forced lenders into high-risk areas where they had no choice but to lower lending standards to make the loans that sound business practices had previously guarded against making. It was either that or face stiff government penalties.
The untold story in this whole national crisis is that President Clinton put on steroids the Community Reinvestment Act*, a well-intended Carter-era law designed to encourage minority homeownership. And in so doing, he helped create the market for the risky subprime loans that he and Democrats now decry as not only greedy but "predatory."
A vote of no confidence in the media and our goverment leadership
I would rather watch it all go down in flames than to support one more move toward socialism. Does anyone even read things like the constitution anymore? I am sick and tired of the entitlement mentality that has taken over this once great country. If you think you would live better in France, move. I know many of us out here doing all the work and never asking for entitlements will help you pack! The tax payers owe neither people to sorry to improve their own life by working or the corporations with the lobbyist who have stolen our congressional leadership.
Yes, life is hard. Yes, you have to work. Yes, lying on your couch will not help you get ahead. It seems like every one wants to blame the rich, at least they are working; unlike our Congress and the entitlement populace.
The media, that’s a joke. I think Hitler had about the same objectiveness in his news papers. How about the truth; not the YELLOW journalism that is practiced today? I do not appreciate the news and the journalists trying to brain wash me or my daughter. My daughter asks if she could take Journalism in high school this year. My answer to her was no and my reason, I explained that I had no desire for her to learn to lie and twist the truth from her teachers. Politicians and Journalist will be the death of this great nation.
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