Nancy Pelosi Killed the Financial Bailout with This Speech
The first woman Speaker of the House Nancy Pelosi, democrat from San Francisco, wagged her finger, and blamed President Bush in a speech that was so harsh, and so partisan, that even the majority democrat House of Representatives would not vote to pass the financial bailout. What Nancy failed to point out, is that the democrat party prevented and blocked the reform that could have prevented this mess, and Bill Clinton enacted his own rules that accelerated and led to the failure of the mortgage market, by requiring mortgage loans to be given to minorities who could not afford those loans. President Bush, and the preceding Republican congress tried to reform Clinton’s rules, but democrats blocked it all saying there was "no problem," until the whole financial market crashed, and banks and financial institutions went out of business.
Nancy Pelosi talks about working together in a bipartisan way, while giving a partisan speech blaming everyone except the people actually responsible for this mess.
If you listen to the start of this video, you can hear than Pelosi was only give ONE MINUTE for her speech, but she took up 16 minutes and 24 seconds. Her arrogance is overwhelming.
I’m glad the bill didn’t pass. I would rather see this whole mess shake out on its own, rather than have housing prices stay artificially high, and then crash again even worse later down the road.
Here’s something to think about. How can the same home owners who got home mortgages they couldn’t afford, somehow be able to afford those same mortgages after the tax payers buy those mortgages with this bailout package? With the economy slowing down those same home owners might be out of work, or be making even less money. When those same home owners default on their home mortgage a second time, our democrat congress, will once again try to blame someone else, while again demanding the tax payers bailout the home mortgage market again.
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Whats great about all of this is it’s really hurting McCain in the polls. Which is what this country really needs. Obama will lead us out of this crisis and back to the financial stability we had when Clinton ran this country.
***HG says***
Obama has never been the leader of anything, because he has no executive experience. Even his wife is head of the household. With Obama’s plan to increase taxes, after giving a tax rebate, the country’s financial stability will turn into a financial meltdown, and a deepening depression like happened when Jimmy Carter was President. Ronald Reagan saved us from certain economic disaster, and Clinton had money to burn as a result of Reagan’s policies.
Comment by Jeff — September 30, 2008 #
It makes me sick how the majority blames Bush and his admin for everything. Even the media is so biased I don’t watch the news anymore. Obama is great at making unrealistic promises to get himself. Wake up people!!!! Please do your research before jumping onto the Obama wagon.
Comment by ABC — September 30, 2008 #
…..AND McCAIN WALKS ON WATER. YOU SOUND JUST LIKE McCAIN, ALWAYS THE DEMOCRATS FAULT. DO WE REALLY WANT A MEAN SPIRITED OLD MAN WITH A TRIGGER TEMPER AS PRESIDENT? DO WE REALLY WANT A BIG TIME GAMBLER, GAMBLING WITH OUR FUTURE? I HOPE NOT.
***HG says***
John McCain’s wife is a billionaire. He can’t be bought like Obama has been bought. McCain has a lifetime of experience and service to American. Obama has, um, volunteer work he’s done that was paid for by the government.
McCain knows what he’s doing, says what he means, and means what he says. Obama, changes his mind on a daily basis. It’s not wonder Obama’s wife wears the pants in that family.
Comment by SCOTTY — September 30, 2008 #
McCain couldnt lead a horse to water. He votes the same way G.W.B. does and you see where that has gotten us. I’ll be glad when the election is over and in Jan when Obama is President. McCain is just sinking himself right now. You see it in the polls. All of the Republicans are worried because they know they will lose this election, as they deserve to. Bush’s economic policies are trash. The only policy he has is to put more money on the pockets of the oil companies.
***HG says***
Bush tried to reform the mortgage companies policies Bill Clinton enacted, but democrats blocked that effort even during the 2004 meltdown, and so now we have an even bigger meltdown. This has nothing to do with Bush, and everything to do with democrats getting kickbacks.
You had to throw talk about oil companies in there just to show you know the democrat talking points, but oil has nothing to do with mortgages and equities in the financial meltdown.
Comment by Jeff — September 30, 2008 #
Why the heck is someone using my “ABC” alias. This is the real ABC. Anyways, the bailout is not a good solution anwyays. What the government is doing is buying bad debt due to risky bad decisions these corporations made and forcing tax payers to cough up that money. $700 Billion has better use than bailing these bad businesses/banks out. A good investment of the $700B is to give loans to small businesses which looks promising and are willing to hire americans when it expands its operations, or provide loans to students so that when they become doctors or teachers, they can give back to society. Let the bad divisions of a business die out, and let the rest of the business be bought out by smart corporations and businesses.
***HG says***
Excellent points.
Comment by ABC — September 30, 2008 #
Truth is neither of these guys will do anything… look at the facts, the world today is screwed. Words won’t save anything, we have a GENOCIDE in multiple continents and no one cares, financial problems will soon be the least of our worries, time for America to become less immortal and struggle through problems like other countries do.
Neither minority-appealing Obama or slimy snaky McCain will do anything… you people fail to realize a president’s role in a country (do absolutely nothing, take credits for the victories and blame someone/something else for the defeats)..
Open your eyes, just because Obama is black, doesn’t mean he’s got an S on his chest.
Comment by Justin — September 30, 2008 #
Just, your last sentence totally kick-S!
Comment by query — October 1, 2008 #