Posted on 09/24/2008 6:41:34 AM PDT by mathprof
House Speaker Nancy Pelosi is telling Democrats that she will not support President Bush’s $700 billion bailout of the financial sector unless there is significant Republican support for the controversial plan.
The politics of the bailout are tricky and dangerous for both political parties, particularly since it comes weeks before the presidential and congressional elections.
As a result, Pelosi (D-Calif.) has effectively sent the message that if she is going to jump off a cliff to rescue Wall Street, she wants House Minority Leader John Boehner (R-Ohio) and George W. Bush holding her hands when she leaps.
Pelosi made this scenario clear at a lengthy closed-door meeting of House Democrats on Tuesday. Many of those present said they took Pelosi’s message to mean that a “majority of the minority” needs to support the bill before she will bring it to the floor.
To get that kind of support, President Bush needs to go on television to speak directly to the public, and get on the phone to rally his fellow Republicans, said House Majority Whip James Clyburn (D-S.C.).
“If it’s a crisis,” Clyburn said in a statement, “and we all need to come together, then as leader of this nation, the president needs to take the lead and bring the country together.”
In the Senate, Republicans have also lined up to oppose their president’s bill, which led Senate Majority Leader Harry Reid (D-Nev.) to worry that he may not have enough Republican votes to pass the package.
“We need Republican votes to help us,” he said. “This is a Republican package and we need Republican votes.”
Several GOP senators voiced frustration over the plan during a Banking panel hearing at which Treasury Secretary Henry Paulson urged members of both parties to approve the package quickly.
(Excerpt) Read more at thehill.com ...
Pelosi = Leader in name only (LINO). Liberals always need a scapegoat.
Speaker Pelosi is quite the leader, isn’t she?
What a profile in courage.
Republicans should demand that we adopt the Republican Conservative proposal and chuck this clunker. The Dims have loaded so many freebies in it, and the part about bailing out foreign banks - it’s no wonder Americans far and wide are against this fiasco.
Probably not a bad move politically. Whether this thing passes or not, there’s going to be lots of pain. I wouldn’t be surprised if the only elected officials that don’t get hammered later, are the ones that vote in the minority (either for or against).
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
Reminds one of Bush and Kennedy’s amnesty fiasco.
The clock’s ticking Nancy. What you gonna do?
Don’t they recess again on Friday?
This is the smartest move Pelosi has made since being elected to Congress.
Yes, and pelosi has a botox appointment on Sat. Let’s git her done,boys.
Well, I'm not gonna join her. And I'm sure as hell not gonna talk her down.
She’s what you call a real leader.
Uh-oh. Jimmy Carter has come out against the bailout. Does that mean it’s actually a good idea?
In fact, not many Repubs are talking...I have seen very few quotes from them over the last few days.
When this bill passes, Repubs want to make sure the Dems are seen as "bailing out the rich" and not just them.
Pelosi would like to wait, but money markets are on a precipice and her congress will be known as the one that sent us into recession if she doesn't act. What to do? What to do?
What it doesn't tell you is that the taxpayer will be reimbursed for a huge amount when the assets are sold back into the marketplace.
A housing bill for half this amount was passed just a few weeks ago. Why no outcry then?
Where the hell is Bush on this bailout? Why hasn't he called a press conference to explain why we need this? Why hasn't he scheduled a "talk" with the American people to explain why this is necessary?
I'll tell you why. Because he doesn't have a clue. There is a leadership failure here, and it is not limited to the democrats. All of congress and the president share the blame.
Until someone can come and adequately explain to the American people how we actually got into this mess and how we are going to get out of it, then they have no business voting to put the taxpayers another trillion dollars into debt.
This is the quote I took from Pelosi:
“It’s their problem. It’s their bill. And they’re going to have to figure out if they can support it,” House Speaker Nancy Pelosi, D-Calif., said of Republicans
Nancy the Bold flips all pretense of responsibilty accountabily and leeadership over to the GOP, since the democrats have no strong suit in any of those areas..
Bailout is pure socialism!
Might as well vote for obama if conservatives are not going to fight hard against this.
I see no difference anymore!
I just called both my senators and my representative (Central TX)
Cornyn’s phones must be ringing off the hook — I couldn’t get through. His position is already public so I’m not worried about him.
Kay Bailey’s staffer said she has great misgivings — voted against Fanny Mae and Freddie Mac bailout — waiting to get the final copy to see what it’s all about.
Rep. Carter’s staffer said essentially the same thing.
I asked both of them to put me down as one who is opposed to having the financially responsible bail out the financially profligate, administered by someone (Paulson) who has demonstrated that his own judgment is highly flawed.
So far so good I guess.
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