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Monday, September 22, 2008
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Pelosi Balks at Bailout Scheme. Nancy Pelosi isn’t buying into the idea of a $700-billion gift basket for Wall Street without any strings attached. The House speaker is all for a bailout, so long as it’s clear “the party is over for the Bush Administration[base ']Äôs anything goes, failed economic policies.”
Only time will tell how serious the Democrats are about oversight. Much of the deregulation that enabled this turmoil was supported with bipartisan zeal, after all.
Update: The candidates are also calling for tougher rules for how the money is doled out.
Update 2: Congressional Democrats set terms.
The Page:
[base ']ÄúCongress will respond to the financial markets crisis by taking action this week in a bipartisan manner that will protect the taxpayers[base ']Äô interests. The Administration[base ']Äôs $700 billion proposal does not include the necessary safeguards. Democrats believe a responsible solution should include independent oversight, protections for homeowners and constraints on excessive executive compensation.
[base ']ÄúWe will not simply hand over a $700 billion blank check to Wall Street and hope for a better outcome. Democrats will act responsibly to insulate Main Street from Wall Street.
[base ']ÄúAs we proceed to deal with this crisis, this is clear recognition that the party is over for the Bush Administration[base ']Äôs anything goes, failed economic policies that have damaged our economy, undermined the middle class and further pointed out the need for a New Direction.[base ']Äù
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 [Truthdig: Drilling Beneath the Headlines]
8:35:22 AM 
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Fleecing Whatâo[dot accent]s Left of the Treasury. The lobbyists and corporate lawyers, the heads of financial firms and the crooks who control Wall Street, all those who spent the last three decades assuring us that government was part of the problem and should get out of the way, are now busy looting the U.S. treasury. They are also working feverishly inside the Democratic and Republican parties to blunt any effective regulatory reform as they pass on their distressed assets to us.
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 [Truthdig: Drilling Beneath the Headlines]
8:33:46 AM
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© Copyright 2008 Patricia Thurston.
Last update: 10/1/08; 3:55:48 PM.
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