A few hours ago the U.S. House of Representatives defeated the $700 billion “emergency rescue” package designed to boost our nation’s financial systems and prevent an economic meltdown. More than two-thirds of Republicans and 40% of Democrats voted against this legislation.
AP Reporter Julie Hieschfeld Davis reported the following comments from Speaker of the House Nancy Pelosi (D-CA) after the measure’s failure to pass:
“The legislation may have failed; the crisis is still with us,” said House Speaker Nancy Pelosi, D-Calif., in a news conference after the defeat.
“What happened today cannot stand,” Pelosi said. “We must move forward, and I hope that the markets will take that message.”
Sounds like she was disappointed that the vote was insufficient to move the package out of the House, doesn’t it? Likewise Democrats were quick to blame Republicans for defeating this bill. However, that’s only part of the story. Some Republicans are saying they feel that Pelosi poisoned Read More…
This post was written by PonderstormMike on September 29, 2008