Pelosi: Dems bear no responsibility for economic crisis »
Posted By FSU92grad 1 year, 4 months ago in NewsHouse Speaker Nancy Pelosi, when asked Tuesday whether Democrats bear some of the responsibility regarding the current crisis on Wall Street, had a one-word answer: “ No.”
Pelosi (D-Calif.) ripped President Bush’ s “ mismanagement” of the economy and a lack of regulation that led to the current situation.“ I think the American people have had it with this situation where the middle-income people in our country are not protected from the ramifications of the risk-taking and the greed of these financial institutions,” Pelosi told MSNBC. When asked whether the Democrats “ deserve some responsibility” regarding the economic crisis, Pelosi responded: “ No.”“ John McCain said that this is a result of overregulation by the Democrats in Congress,” she added. “ Either he doesn’ t know what he' s talking about or he’ s misrepresenting the facts as he knows them. But it’ s simply not true.”
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FSU92grad
40 year old married male with a 2 yr. old little girl. I live in Florida and love this country. I am neither Republican nor ...
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FSU92grad1 year, 4 months ago
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“The Pelosi-Obama Congress has failed to pass an all-of-the-above energy plan, failed to stop earmarks, and failed to break the partisan gridlock that plagues Washington,” RNC spokesman Alex Conant said. “If Pelosi thinks the Democratic Congress is doing a good job handling the economy now, then just imagine how bad our economy would be if Democrats controlled the White House, too.”
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nostalgia1 year, 4 months ago
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"The Pelosi-Obama Congress has failed to pass an all-of-the-above energy plan"
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I read the energy bill the House is debating
It's HR 6899
What a scam
There won't be a single drop of oil produced with the bill
What amazes me - Hydro power won't meet the definition of renewable energy the Democrats crafted in the bill
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mesodudeComment removed: Retracted by user39 Replies
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quackpot1 year, 4 months ago
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The energy "plan" is a scam and needs to be rejected.
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Earmarks have GREATLY decreased under the democrats.
The Republican controlled congress with little deadlock is what got us into the mess. The "deadlock" is putting the brakes on the Republican disaster that created the mess. -
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UnusualSuspect1 year, 4 months ago
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Who's been President the last, almost, 8 years...Mr Bush...
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Who controlled Congress from 1994 to 2006...the Republicans...
What party had a spending spree the last 8-10 years that makes it difficult to get things done because of the huge debt...the Republicans...
Who's blocked so many efforts by the Democrats over the last 10-12 years to get things done right for the lower- and middle-classes...while giving the wealthiest all the breaks... the Republicans...
And who's going to win the Presidency and many of the national Congressional/Senate (not to mention many state level) seats this coming November because the people of this country are sick and tired of all that's happened, and want new ideas to correct the sorry state we're in now?...the Democrats...
Obama/Biden 08! -
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jordan111 year, 4 months ago
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And again. Nothing can get passed when CONS filibuster every piece of Democratic legislation, which then requires a vote of 60 to break the filibuster. Democrats don't have 60 votes. If you want something done, then might I suggest you stop putting CONS in the Senate. Can't have your cake and eat it too.
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Blackacereturn1 year, 4 months ago
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Yes the DEMS are running the country not Bush...and when you GOPers had all of the government you sure as hell did a good Job making sure the country was well run...none of this mess has anything to do with you and yours> The GOPers hands are clean on all of this. Grow up and learn to take responsibility for your actions you lie, you pilfer and you kill, you are the scourge of this country and you are fully responsible for the state of this nation but as expected you don't have the guts to stand up to that. COWARDS ALL OF YOU!
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Do you really think the American people are as stupid as you obviously think they are? Why do you think Obama is now ahead in the polls? Because people are listening to this delusional drivel?
Sad and pathetic attempt to hold on to a sinking ship!
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FSU92grad1 year, 4 months ago
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Pelosi is such a pompous, arrogant, elitist who thinks her precious party can do no wrong....
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Hey Pelosi? Check your approval ratings....Why do you think they're that low, Pelosi?
Go get some more plastic surgery and come back to us when you have a plan....There's a reason WHY they call you guys "do-nothings".... -
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nostalgia1 year, 4 months ago
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Not just money
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You look at Obama’s economic advisers, the guys he has counted on from day one and who have raised him a ton — and I mean a ton — of money: Franklin Raines and Jim Johnson, both of them are waist to neck deep in the mortgage debacle.”
Both Raines and Johnson have served as CEO of Fannie Mae, with Raines taking over from Johnson. Both are key political and economic advisers to Obama
http://www.freerepublic.com/focus/f-news/2083615/p...
It should be easy for Obama to get info on how Freddie and Fannie got into trouble - just ask his economic advisors. They have inside information -
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pc251 year, 4 months ago
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you have got Dodd and Obama also with their sweetheart loans, the money from Freddie and Fannie for their campaign and Edwards whose Fortress investments was heavily invested in sub prime mortgages.........I would like to know what the Democratic controlled congress has done for the past 2 years except pass one non binding resolution after another
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wtagg1 year, 4 months ago
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So the blame can't really be laid at their feet due to the fact that they haven't done anything.
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Isn't minimizing governmental actions into the workings of the economy the cornerstone of conservatism? You are stating that the Congress has followed that credo for the last 18 months. Ironic, isn't it?
Do you really think this is a problem that has manifested itself only in the last 18 months or is this what you have been told by a talk show entertainer? -
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Spinward1 year, 4 months ago
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Here's a truth that applies to BOTH parties:
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"A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves money from the public treasury." - Alexander Tyler, 1850
Beg your representatives to KNOCK IT OFF! -
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findoc1 year, 4 months ago
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The entire political arena is populated with self aggrandizing, ego driven, small minded, power hungry, idealistic wannabes. Both parties are to blame as both have had participants in the Freddie Mac, Fannie Mae, Indy bank, and Countrywide fiascos. Our elected representatives seem to think that the election gives them permission to do whatever they want to do as opposed to what they need to do to serve the electorate. Of course, blaming the administration in power is simple and easy to do. Both parties have engaged in this practice in the past. Concentrate on fixing the system and keeping it open and above board, transparent for all. Regulate with an eye toward efficiency as opposed to lining one's own pockets. Re-election should be a function of merit not bombast. Ms. Pelosi is blinded by the party mantra of do all that needs to be done to topple Bush. Republicans are also as blinded by the same self serving principles that motivate Democrats. From an economic standpoint the system can be fixed, not through government intervention but through government regulation that allows the markets to be guided by sound fundamental economic principles as opposed to speculative, derivative driven greed mongering.
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Klarissa1 year, 4 months ago
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FSU92grad1 year, 4 months ago
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Well...have you so seen this "energy bill" that they are proposing ? It's so laughable and it's an attempt to pass SOMETHING that resembles an energy bill...
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The problem with it is if you look at the "meat" of the bill, it basically states that you cannot drill in 97% of the locations because it falls in that "50 mile radius" clause or something like that....
But what's going to happen is the Republicans are going to review it, vote it down because it's a crap bill and the Democrap Congress is going to blame the Republicans and say " You see ? It's the Republicans who are against solving our energy crisis !"
It's is so asinine-ing !!!!
And it Pelosi gets any more collagen pumped into those lips of hers.....
We could save energy right there by making sure Pelosi's lips are properly inflated.... -
PsychoHosebeastComment removed: Spammer, Abusive
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wtagg1 year, 4 months ago
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As far as the economy goes, isn't this exactly the conservative mantra? The government shouldn't stick its nose into the workings of the economy.
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Of course, since republicans are not conservative, the growing of the government is exactly what they desire to encourage. -
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era1 year, 4 months ago
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The current finacial collapse is mostly due to deregualtion and no oversight.
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Dereguation was brought to you by the Republicans and Phil Gramm of WorldCom.He the one who said "we're a nation of whiners" He's also McCain's finacial advisor.
I would assume anyone who knows about the congress would realize the problem is gridlock.Just because the Dems have a majority of 51 does not give them the ability to get anything done.You need 60 votes and then Bush vetoes it anyway.
So you have no proof... -
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jordan111 year, 4 months ago
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And again. Democrats can't get anything of significance passed when CONS filibuster every piece of their legislation. It takes 60 votes to break the CONS filibusters, and Democrats don't have the votes. If you want something done, stop electing CONS, and give Democrats the votes needed to pass legislation.
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icono11 year, 4 months ago
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I'm sure that Comrade Pelosi is so stressed out from all the false hoods and out right lies the Facist Neo-Cons have been saying about her precious flock of Limo Liberals that she and her followers probably need an extended recess to recover from all the 'defending and counter arguing' they have had to do to cover their well paid 'do-nothing' arses.
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But I hear that Comrade Putin knows of some really great Dachas in Georgia that cater to the psychologically depressed and 'misunderstood' politicians of the world. They give special rates to Limo Liberals that pay cash but will take any Swiss Bank 'check' in a pinch. -
MRRanchhandsir2UComment removed: Retracted by user2 Replies
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Bkumm1 year, 4 months ago
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Oh, yeah, here we go. I was wondering when somebody would try to pin this mess on the Democrats.
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Well, kids, here's the deal. When the deregulation craze started under the Republican Congresses of the 1990's, because, hey, the "free market" will solve everything, it led to many of the money men not being, well, regulated. What that means is that they could basically do anything they wanted. Then, the geniuses at the Fed, in connivance with their buddies in Congress and on Wall Street, decided it would be a good idea to keep the interest rates as low as possible to keep "fueling" the economy, basically flooding the market with cheap loans.
Now, this works GREAT, as long as nothing changes. It's basic supply side (read that complete BS economics) economics. Give money to the people to spend and they will. Which is true. Except that money has to come from somewhere and that somewhere is China. But, back to the basics, something changed. Actually, several things changed.
One, we have massive instability in the ME and Russia, caused, in large part, by inept foreign policy decisions by the United States. This leads to higher prices for oil.
Two, we have deregulation on speculators who are not making the money in the stock market they could be making, so they see an opportunity in the oil market. They take it, driving the price of oil higher.
Three, the Fed, trying to slow inflation (read keep a finger in the dike) lower interest rates.
Four, low interest rates and **** poor lending oversight have every Tom, **** and Harry who can't afford a loan, getting one.
Five, speculation in the oil market leads to record gas prices, hurting the economy, which immediately affects the people least able to handle the change, ultimately leading to foreclosures when their loans fail.
Six, banks and brokerage firms, who have inordinate amounts of money in the only "strong" sector of the economy, the housing market, start to feel the pinch when people start losing their houses.
Seven, banks and brokerage houses start going broke and the government steps in to bail them out.
What caused it? Deregulation. Who caused it? John McCain and one of his chief financial advisers, Phil Gramm. And who has to fix it? The American taxpayer.
You can try to pin this garbage on the Democrats, but this one isn't our fault in any way, shape or form. You can blame this on all of the supply side economic (read that voodoo economics) gurus who told you that the "free market" will solve everything.-
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Wolfie20071 year, 4 months ago
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You can equivocate all you like Bkumm but the truth is that Bush tried to get an overhaul of Freddie and Fannie but your corrupt democrat congress blocked the effort.
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I assume they did so to continue getting campaign donations and sweetheart deals on financing for their houses. There is no doubt that this is the democrats fault and since they took over congress in 2006 the US economy has went into the toilet. It's ridiculous to say or think otherwise. -
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nostalgia1 year, 4 months ago
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Now now Bkumm!
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At least TRY to look at the history
Who was president when the degregulation you condemn was president?? Who signed the legislation??? None other than Bill Clinton
This mess goes back to the Financial Services Competition Act of 1999
Who supported of H.R. 10, the Financial Services Competition Act of 1999
Notice she actually applauds dismantling depression era regulation!
CONGRESSIONAL RECORD: Extensions of Remarks HON. SHEILA JACKSON-LEE
Today I rise in support of H.R. 10, the Financial Services Competition Act of 1999
Today's vote represents groundbreaking financial services legislation that would dismantle many of the depression era laws currently hindering the financial services industry from engaging in a modern global marketplace.
CRA is a success story. Between 1993 and 1997, the number of home purchase loans to African Americans soared 62%; Hispanics saw an increase of 58 percent, Asian Americans nearly 30%; and loans to Native Americans increased by 25%
In Congress, we have spent more than twenty years debating how to update the Nation's antiquated banking laws that prohibit banks, securities firms and insurance companies from entering into another's businesses.
http://64.233.167.104/search?q=cache:BbjQwpXE_UsJ:...
You don't much further to the left than Sheila Jackson Lee!
Why don't you read the rest of the Congressional record and see which other Democrats applauded this legislation-
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nostalgia1 year, 4 months ago
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AND Bkumm
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Who warned us about Fannie and Freddie back in 2005 and co-spomsored legislation that would have provided oversight??
John McCain cosponsored a bill in 2005 to create an oversight board for Fannie May and Freddie Mac because he saw warning signs of trouble. He cosponsored the FEDERAL HOUSING ENTERPRISE REGULATORY REFORM ACT OF 2005. In words that now sound like prophecy, McCain said: "I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole." Unfortunately, the bill was blocked by democrats who complained that the oversight would prevent lenders from giving out risky loans to those who couldn't afford them, and the bill was killed.
http://forums.mercurynews.com/topic/mccain-changes... -
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Bkumm1 year, 4 months ago
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Now, now, nostalgia, I didn't say the Republicans were the ONLY ones to blame, but to say that it is the fault of the current Democratic Congress is sophistry and ridiculous.
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By the way, what was the full name of the law that came from the House Resolution?
Gramm-Leach-Bliley Financial Services Modernization Act
So, you can spin it however you want, but the fact remains that this was an Act introduced by Republicans and rammed through a Republican controlled Senate.
Further, under Bill Clinton the Republicans had a bullet-proof majority. Do try to take SOME responsibility for your Party's actions.
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KISA452a1 year, 4 months ago
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It's true that the Dems bear no responsibiliyt. They have done nothing, acomplished nothing, tried nothing, and basically just sat back saying "We aren't them". The only way to fail, or succeed for that matter, is to try. The Dems don't try.
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willottica1 year, 4 months ago
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I'm just curious... aren't the republicans supposed to be about LESS government intervention? And then you complain that the Dems aren't intervening enough? The circular arguments used by both sides on these threads are remarkable. So many people refusing to see any wrong in their affiliated party.
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Only when you are willing to take off the blinders and honestly assess the failings of your own party will you be able to make an objective and valid comparison of the two parties.
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HowAboutTheTruth1 year, 4 months ago
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They are in control that make sthem to blame to. Let's be real here, Pelossi Talks the Talk but Walks away from true issues because she wants them addressed during the new congress and she hopes under a democratic president. It kills her and the rest of the democrats that Ronald Reagan is considered to be the best since FDR. She and the Democrats are playing roulette with ALL OF OUR LIVES while they drag their feet for another 2-3 months. If they really and I mean REALLY cared about the USA and the people, they would do whats right and do it NOW. Not offer a joke bill allowing drilling 50 miles out when you could have the same safe guards and faster success by drilling 25 miles off shore. Boot Peolssi and the Democrats NOW and do NOT give them control of the White House too.
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GLee1 year, 4 months ago
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I think both parties have had a big hand in the current crisis although, in '03 (please correct me if I'm wrong) Bush did attempt to forward a bill regulating Fannie & Freddie but it was shot down by Frank & Company because "there is nothing wrong with Fannie & Freddie". BUT, in and event, both parties have screwed up substantially over the last several years.
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FSU92grad1 year, 4 months ago
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That's the whole point of this story....The pompous, arrogance of the left that cannot even admit that it COULD be partly THEIR fault....
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We know there are some Republicans that are also problematic, but at least we can admit it....
And with the libs always complaining about Bush being a cowboy, a rebel, arrogant, not willing to admit mistakes, this is a shining example of where the Democraps are doing the very same thing....
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werkovnaComment removed: Spammer, Hard Banned
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SAAB76991 year, 4 months ago
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You can only blame the government,Republican or Democrat for so much.The companies
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themselves are responsible for their actions ultimately.These corporatons get too big and they don't have enough in-house overseeing to keep everyone who works for them on course.
The other problem I think is that people are too afraid to take responsibility for mistakes and shortcomings.Instead of problems being brought to the surface immediately,they are buried
away with the hope that by the time complications do arise it will be too late to track down the original culprit. -
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mbruny1 year, 4 months ago
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is pelosi kidding or does she really believe that? well with a 9%approval rating i guess you would be in denial too haha... they ran on change and shaking up washington in 2006 and look what we got. dodd is top recipient of funds from freddie mac and socialist loser obama is second with over 100,000 in just 3 years.. charley rangel dosnt know how many houses he has or that he has to pay taxes on them even tho he is head of house ways and means...yet they blame it all on bush... remember pelosi shut out the lights and went home rather than vote on drilling for oil..i guess that was bush's fault too..face it this congress is a bunch of greedy do nothing losers and they think obama will join them to keep up this farce... vote mccain and stop this train wreck before it bankrupts america... and if obama is really for change and cleaning up washington lets see him call for rangel to resign...dont hold your breath on that one tho... this man never goes against his own party
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wtagg1 year, 4 months ago
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If they haven't done anything, how is that bankrupting America?
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If you want to argue that congress is allowing us to continue the course of status quo that was established prior to their seating in 2007, you'd have something. The best you can allege with your logic is that they haven't applied the brakes to the runaway train that we have been on for the last 7+ years. To that, I could wholeheartedly agree.
How did the train become a runaway? -
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ind061 year, 4 months ago
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According to Real Clear Politics, the current approval rating for Congress is 20.7%, not 9%.
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20.7% is not a spectacular, stop the presses approval rating, in fact, it's wretched, but it is substantially higher than 9%.
http://www.realclearpolitics.com/epolls/other/cong...
It is worth adding that while the Democrats control Congress, their controlling margin, especially in the Senate, is paper thin. The dismal approval rating is not for "the Democrats in Congress, excluding the blameless Republicans", it is for Congress in general, meaning the whole magilla; Democrats, Republicans, Independents, the lot. Heck, America probably doesn't even much care for the single vacant seat in the House.
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reviewer1 year, 4 months ago
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If the majority of Congress, particularly the Senate, worked in the public sector they would be canned. Marking yourself as "present" and causing more problems than solutions is not a productivity bar that even McDonald's would accept. Some of these bozos need to go...and more props given to the ones who do work hard as a representative of the people.
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nlknlk74421 year, 4 months ago
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It makes no difference. The Republicans or the Democrats try to buy their way to power with our money. This finance mess was caused by greed (Dem and Repub) and the folks like me get to pay for it. Now I see a Dem talking about cutting taxes for most, and increasing benefits for all. Common thought is ;it has never worked, and it won't work. When some are confronted by the facts they switch to emotional unsupported claims. Those types are why we have a government that is out of control. Centralized healthcare will not work to deliver the standard of care we are accustomed to. On the reverse the big pharma industry is asking the citizens of the US to pay for the world's drug bill and their profits. Medicare pays for less each year but an illegal can go to a hospital and get free care. The Freddie and Fanny bailout helped the Chinese more than any one since they hold the most paper on those operations. Yep, we helped foreign investors more than we helped our locals. I dislike both running for pres. One is too close to the past and the other is simply a created being of smoke and mirrors. What a choice. Pelosi is just another pontificating demigogue if she thinks the Dems have nothing to do with this mess. This was 15 years in the making at least ,so there is plenty of blame for both parties. I wish we would start discussing real solutions rather than what can be given away. Now we want to tax the folks that create jobs the most since they already pay most of the tax? The $250 gross revenue bar discussed by Dems will hit my heating and AC guy. He netted 65K last year. Yea, a rich guy! He will compensate by laying off one of his two helpers. What did we gain? Nothing but another person unemployed and taxes collected go down as one no longer has a tax paying job. Another great solution. I want a guy/gal in office that suggest working harder, buying less, borrowing nothing, and spending less. To hell with giving me anything. I will earn it if left alone by both parties.
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nlknlk74421 year, 4 months ago
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A Chinese guy told me when I lived in Asia. It is all about power and money buys power. It also buys the politicians that use the power to create more money for more power. It is the same for both parties. Do you think they do anything for the stupid schmo that goes to work every day? That motivation passed away about one generation after the revolution. Each generation has fewer leaders and more takers. Repub-Dem they work together to create a mess, then use our cash to fix it. They borrow from the world to give to today's voters and shaft our children. If things are so great for the working guy why don't the members of congress use the same health payment system. Better yet, put them on medicare and pay them through social security. Talk about seeing solutions and change! Have you ever met a politician that takes blame for messing up. Heck, most evidently don't even know what sex is and surely don't know when they make a mess. Do you honestly expect a fair shake from a bunch of attorneys chasing power by holding elected office? If you do, give me a call. I have some investment opportunities for you. They are guaranteed to make you dead broke. Study what they say, dig out the facts and you will see both running for Pres are not near what they claim to be. One can't even get his family tree or major maturity happenings to match the dates given from talk to talk. Pelosi, she would not know anything but the party line no mater what. She has an aversion to the truth as do most. The party lines make no room for the truth. The best you get is their truth which is no truth at all.
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icono11 year, 4 months ago
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" Do you honestly expect a fair shake from a bunch of attorneys chasing power by holding elected office? If you do, give me a call. I have some investment opportunities for you. They are guaranteed to make you dead broke."
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Flat out fxking right on target.
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