Pelosi Offers to Postpone Congress' Adjournment to Address Economic Crisis

[Purveyor]

Source: ABC NEWS

September 18, 2008 6:28 PM

ABC News' George Stephanopoulos reports: In a letter to President Bush, Speaker Nancy Pelosi offered this afternoon to postpone Congress' planned adjournment next Friday, Sept. 26, to address the ongoing financial crisis.

In the letter, Pelosi says she wants to ensure a consistent approach to the "ongoing market turmoil" by developing a bipartisan recovery effort.

The speaker's letter signals that Democrats are prepared to accept the president's plan for Wall Street, but also demands a second stimulus package targeted at Main Street.

Pelosi says such a package must include five components: "Investment in infrastructure for economic growth and job creation here at home, home heating assistance at a time of record energy costs, extended Unemployment Insurance for the growing number of Americans looking for work, Food Stamps that will help ensure we feed hungry families in a time of crisis, and assistance to maintain critical health care coverage jeopardized by state budget cuts."

Pelosi says she wants to "balance accountability to the U.S. taxpayer with protecting American families from the crisis's fallout."

Below is the full text of the letter:

ABC NEWS: http://blogs.abcnews.com/politicalradar/2008/09/stephanopoulo-2.html



Read more: http://blogs.abcnews.com/politicalradar/2008/09/stephanopoulo-2.html

[Mojorabbit]

1. Perfect response. nt

[Purveyor]

7. Politically I agree but I just hope they don't rush into some plan that puts the taxpayers on the

hook for bad decisions made by the bloodsucking Wall Street bankers/investment firms.

We have enough of that already. I need much more information, indeed.

[ohio2007]

11. Be ready to bend over.. You are getting a tax hike up the gas soon

Maybe they will get China to buy up all this worthless debt ?


lol

Thats the ticket,
push it off onto the laps of thier great grandchildren !
our life is good

[Pete2069]

23. You mean China doesn't own us yet

Lets see ,,, republicans like McSame has sent our contracts
overseas along with our jobs to Britain and the republicans
has sent just about every manufacturing plant and our
government jobs all over this planet.

Bush Sr. with his Carlyle Group which Bush Jr. has given his
share of government contracts to has mover his business to
Dubai for their tax breaks and welfare.

Corporations are laughing their a.. off at the BS and
destruction Bush and Cheney has let them cause to our country 
in the past 7.5 years.

The only connection the Bush family has with this country is
to destroy it and stealing it's wealth and power.

Just ask any Bush what have they done for our country and
their honest answer would be ,,, take our money and run...

[Mojorabbit]

24. Oh we will pay for their mistakes

I posted "perfect response" because the fact that we will bail these companies out is a done deal and at least she is getting something that we want as a condition to agreeing with it.
Personally I am furious that we are being put on the hook for these companies mismanagement and greed.

[Pete2069]

20. Have you yet seem a normal plan from the democrats.

Democrats have given Bushsssssssssss everything he has asked
for plus more...  
Pelosi has to go , Reid has to go , Feinstein has to go ,
Schumer has to go and we all know d... well that the blue
republican dogs have to be made extinct for our democratic
party once and for all.  

Americans think the democrats are the majority in the house of
representatives ,,, but when you count the number of
Republicans and add them to their republican friends the blue
dogs it makes the republicans out number the democrats and
control the house.  

Republicans have been placing their republicans on the third
party tickets and the democrat's ticket , so if elected it
would give them control over the house and senate when their
republicans candidates are defeated by their
republican-democrat in the elections.
  
Lieberman is a very fine example of republicans helping a
Republican to win an election on another party's ticket... 
Blue Dogs are another very fine example of their control over
elections.


What did the republican candidate receive in the final voters
for the senator of Connecticut???
Republican candidate received 10 percent of the vote ,,, so
what does this tell you of the republicans ,, which follow in
line behind whatever they are instructed to do by their
leaders and voted for Lieberman and some of our democrats were
pushing democrats to vote for Joe...

[AlphaCentauri]

25. hope this is not a save *** solution

[Purveyor]

2. MORE...AP Source: US Weighing Financial Crisis Plans

The government is weighing several options to ease Wall Street's worst financial crisis in decades, according to a person with knowledge of the talks. But taking over banks' bad debt, an idea that rallied the stock market on Thursday, is no certainty.

Stocks surged late in the afternoon after a report that the administration was considering creating a government entity patterned after the Resolution Trust Corp. created in the 1980s in the aftermath of the savings and loan crisis.

---
Paulson, Cox and Bernanke were briefing congressional leaders in House Speaker Nancy Pelosi's office Thursday evening.

At the top of the meeting, Pelosi, D-Calif., made clear that any potential action must protect taxpayers who are already on the hook for potentially billions of dollars in bailouts to financial firms taken down by the financial crisis. "We are here to work together for solutions ... in a way that insulates taxpayers, consumers, Main Street from the crisis on Wall Street," she said.

Pelosi wrote to Bush on Thursday saying Congress would meet beyond its planned Sept. 26 adjournment, if necessary, "to consider legislative proposals and conduct necessary investigations" related to the financial crisis.

---
Rep. Barney Frank, D-Mass., said "the timetable has been greatly sped up" for Congress to consider ways of dealing with the financial meltdown. Asked whether a hearing he's planning next week on broad government intervention to address the crisis could morph into a legislative drafting session, Frank did not reject the suggestion.

Sen. Chuck Schumer, D-N.Y., would not comment on reports that Paulson was considering creating an RTC-like entity, but he said: "Everyone realizes this ad hoc situation can't last and we need a comprehensive plan. ... I think the administration knows that."

Schumer presented his own proposal for federal intervention, in which the government would lend struggling banks money in exchange for an equity stake. He said it would be conditioned on the banks agreeing to legislation that would let homeowners who have declared bankruptcy renegotiate their mortgages so they could keep their homes.

MORE...

AP: http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2008/09/18/national/w141050D08.DTL

[nashville_brook]

3. that would be wise. i had a physical reaction hearing on the radio that congress was about to adjoun

!! gave me a feeling of sickness. no way can they adjourn without appearing insane/cowardly/worthless.

[Ian David]

4. Since when did Pelosi begin to think she could be useful? n/t

[Demeter]

5. Did You Set That Table Yet, Nancy?

JUst asking.

[halobeam]

6. The day I cook a good dinner, is the day she sets the table.

For those who know me, that would be when Satan is snowboarding.

[KoKo]

19. On that show "The View" she said she was ahead of fellow females in "not cooking."

She was very proud of that. But, the audience didn't even "twitter a mild giggle" when she said it. She was looking for a laugh line...she didn't get for the rest of us who do occasionally or frequently DO COOK!

She's so out of touch it's embarrassing for us.

[Liberalynn]

8. Better than her Senate counterpart at least

she is offering to stay.

Congresswoman Pelosi, I just have to ask these few things:

Now can we add "regulation". put "impeachment" back on the table, and throw in some prison terms for some of the Wall St crooks too?

That would all go along way IMHO in helping me forgive you for taking impeachment off the table to begin with.

That being said her current suggestions put the Democrats squarely on the side of the middle class and if the Pugs insist on only helping Wall St sheisters, that should go along way towards making the case against the Pukes even stronger in Nov.

Of course where they are going to get the money for any of this, is any one's guess? :shrug:

At least it is improved from Harry Reid's earlier statement.

[ohio2007]

9. How much have they accomplished on her watch ?

a few more days before a mandatory early break ?
seriously, why are we paying these slackers in the first place if they duck real issues they were put there for in the first place ?

Congress May Adjourn, Leave Crisis to Fed, Treasury


Sept. 18 (Bloomberg) -- The Democratic-controlled Congress, acknowledging that it isn't equipped to lead the way to a solution for the financial crisis and can't agree on a path to follow, is likely to just get out of the way.

Lawmakers say they are unlikely to take action before, or to delay, their planned adjournments -- Sept. 26 for the House of Representatives, a week later for the Senate. While they haven't ruled out returning after the Nov. 4 elections, they would rather wait until next year .....

snip



http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aVPBaUbYV_qQ

At least they cut the price of gas and denied war funding like they promised..
oh, wait.

Maybe people forgot those details as they hit the circuit to renew more promises.

gmafb

[L. Coyote]

10. How about until some accountability is achieved, like EVERY SUBPOENA answered

then adjourn after impeachment, so Nancy doesn't get a day off until Barack takes over. (You reap what you sow girl.)

[Name removed]

12. Deleted message

Message removed by moderator. Click here to review the message board rules.

[rateyes]

13. You could have had Congress working with YOU to correct the problems, Nancy...

if you had done your damned job and impeached the bastards.

[BearSquirrel2]

14. She wants to keep Republicans out of their districts ...

She wants to keep incumbent Republicans out of their districts at a time when they are VERY vulnerable by keeping them pinned down with legislation!!!

Good move!!!

[Auggie]

15. For once it seems like they've out-thought Republicans

Though I don't expect any real reform. Purely political.

[endthewar]

16. Good payback for their drilling stunt in August

[xyouth]

17. If Nancy would have impeached these mfs,

we might not be in this situation now.

[KoKo]

21. Well....she just loves her "Blue Dogs." Probably the only pets she's ever owned....

:-(

[KoKo]

18. It's the least she can do...since Congress is letting Bush/Wall St. Get Away with raping Tax Payers

If she lets this "bastardized "Resolution Trust" but with Bail Out for Wall St. go trough she needs to be IMPEACHED! That will be the LAST STRAW!

[JDPriestly]

22. The Democrats had better make sure the Main Street stimulus package is passed.

No bail out for Wall Street without a bail out for Main Street.

[choie]

26. didn't they just get back from their summer recess?

WTF??

[natrat]

27. what about accountability? what about the concept of deregulation bankrupting this country?

so many real concerns and so much of pelosi's bullshit-she is a ridiculous pos along with most of the rest of them