Categorized | Economy, Featured, Politics

Pelosi Speech Today On Bailout

Nancy Pelosi made a speech which many found as partisan. Basically just before the speech she stepped on the plate a let lose a barrage of artillery on Bush administration and how this has been a colossal failure of not only this current regime, but Republican’s de-regulation anything goes policy.

Personally, I think she let the Republicans have it and the Republicans totally deserved it. I would blame the Republican policy for this America’s Economic 9/11. Even though a lot of my conservative friends have the habit of coming back with “These weak policies were set by Clinton” , I say give me a break.

Eight years is a long enough time for the Bush administration to change track for the better. This chaos is happening under the Bush administration guard and they deserve sole responsibility for it.

Below are the excerpts from Nancy Peloci’s speech:

Madam Speaker, when was the last time someone asked you for $700 billion?

“It is a number that is staggering, but tells us only the costs of the Bush Administration’s failed economic policies—policies built on budgetary recklessness, on an anything goes mentality, with no regulation, no supervision, and no discipline in the system.

“Democrats believe in the free market, which can and does create jobs, wealth, and capital, but left to its own devices it has created chaos.

“That chaos is the dismal picture painted by Treasury Secretary Paulson and Federal Reserve Chairman Bernanke a week and a half ago in the Capitol. As they pointed out, we confront a crisis of historic magnitude that has the ability to do serious injury not simply to our economy, but to the American people: not just to Wall Street, but to everyday Americans on Main Street.

Republicans and McCain specifically are for letting big business take care of themselves, which is nothing but the policy of De-Regulation. But come a disaster and suddenly everybody, democrats and republicans alike, are calling for restraints and regulations. Why this sudden change of heart?

And as far as Bailout vote failure is concerned, there is lot of opposition to the Bailout plan from regular folks, folks from every walk of life. Their contention is, why protect greedy corporates when the troubles are of their own making. When an individual loses money based on poor decisions, we don’t see government rushing to help them. Then why the different treatment for wall street.

Some are saying the law makers vehemently voted against the bill because people in their constituency flooded the representative offices complaining about the bailout.

In addition to all this drama, I see people searching for Nancy Pelosi’s email address. What could this be for? Are you going to write her an email complaining about the partisan way she behaved today? Or are you going to thank her for telling the Republicans on the face what she thinks about them.

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