Pelosi: Dems bear no responsibility for economic crisis

[Nambe]

Source: The Hill

... 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.”

Read more: http://thehill.com/leading-the-news/pelosi-dems-bear-no-responsibility-for-economic-crisis-2008-09-16.html

[Hugin]

1. Um... I'll take choice number one Speaker Pelosi.

He doesn't know what he's talking about.

I'd hate to think it was choice number 2! :scared:

[Winterblues]

12. I am fairly certain it is both

He does not know what he is talking about and what little he does know he is misrepresenting or actually LIEING...

[maxsolomon]

2. President Clinton signed a deregulation bill in 1999, right?

that's what i've read argued here on DU? i'm sure i'll be corrected if i'm wrong.

regardless, i like nancy's answer. the GOP lies everytime they breathe. we ought to try it once in a century, too.

[sinkingfeeling]

4. Yes, Clinton signed the bill.

[Narkos]

8. Yes, he signed off on repealing Glass Stegall

but the Bushies had plenty of time to figure that they had an impending mess on their hands.
http://www.nytimes.com/2007/12/18/business/18subprime.html

[defendandprotect]

15. Clinton DLC compliance with GOP Agenda ... betrayal of us all --

eh ... betrayal lite --

including ending 60 + years of welfare guarantees which GORE encouraged Clinton

to do --- !!


Thanks DLC -- Welcome aboard Biden -- !!!

[wvbygod]

43. ending 60 + years of welfare guarantees

I am always confused by the whole "ending welfare as we know it" game. What happened to the
people on welfare after this took place? What are they doing now to fill in the income gaps?

[defendandprotect]

53. Well, if it's a "game" it's a harsh & brutal one --

Many disabled & totally disabled on rolls --

During Reagan years something like 2000+ suicides --
not much reported by corp-press.

As for others, wellfare mothers -- the majority "white" --
were forced to take Minimum wage jobs --
with no provisions made for care of their children --

Sick people were forced to work --
and many areas offered jobs that were dangerous and filthy
w/o providing training nor equipment --

Many mentally ill are on welfare because their medicines alone
can be over $2400 per month & if they work they have to pay
for the drugs themselves --

That none of us really knows their plight shows lack of interest
by corp-media.

Also, there is a limit now on assistance --
5 years of aid over lifetime/????

[DainBramaged]

55. Clinto is no longer President, or is this today's talking point from the RNC?

keep bashing OUR President, we'll keep wondering.

[defendandprotect]

64. If telling TRUTH about Clinton & DLC is "bashing" him ...

then it is truth which is hurting you --

And your desire to censor with suggestions that it's not Clinton or the DLC betraying

Democrats is, in fact, a right-wing impulse to suppress truth --

Meanwhile let's look at Democrats who can't face reality and wonder how they encouage

and enable the right-wing/DLC take-over of the Democratic Party ... !!

[bvar22]

21. He also signed the Telecommunications Act of 1996....

...which deregulated Big Media.

AND

He campaigned on, fought FOR, and signed NAFTA which deregulated International Trade between Mexico, Canada, and the US, but opened the door for ALL the others.


The DLC (Republican Wing of the Democratic Party) is VERY BIG on "Deregulation".

The current crises are NOT totally the fault of The Republicans. The Republican Wing of the Democratic Party bears some of the responsibility.
The Republicans NEVER needed 60 votes in the Senate to ram through their Economic Piracy....they could always count on the DLC.

[geckosfeet]

30. Clinton signed it because he had no chance of enforcing a veto.

[DainBramaged]

56. The RNC enablers here, and Clinton BASHERS forget he was President

during 6 years of GOP controlled Congress. How soon they forget (purposely) to spread ill will.

[defendandprotect]

65. Clinton/DLC gave LEADERSHIP to GOP agenda ...

issues --

[Better Believe It]

66. Did Clinton Fight The GOP Congress? Who Won?

[DainBramaged]

67. Yeah yeah yeah, let's keep blaming Clinton

when all else fails, bleat out Reich wing talking points.

[TechBear_Seattle]

3. Yup, the Dems in Congress did everything they could to prevent this disaster

:eyes:

I'll agree that most of the blame falls squarely on the Republicans. But to claim that the Democrats "bear no responsibility" the current mess is a flat-out lie. I have $50 that says the Dems were enablers, if not co-conspirators.

[defendandprotect]

14. The Dems from day ONE of GOP Corporate-"god" agenda have been ...

mainly SILENT --

SILENCE is also a response, Nancy!

A few authors tried to tell the public what was going down ...

Wm. Greider -- and in his footsteps, Bartlett & Steele not quite as well --

Zinn -- Chompsky --

Press bowed to "love" for Reagan & GOP corp policies --

and their selling govt in best Nixon tradition --

Nixon/GOP policies of revenge on Democratic states/areas --

Anything that looked like a free press is long gone --

and the stealing will go on until the "few" have every last nickle & dime --

and total conyrol over all of us --

[Elidor]

17. Very true

And part of the dem's strategy has been to gain electoral support as a result of Bush's screwups. One of them once said they decided to let Bush "have his war."

But they can't own up to how pathetically ineffective they have been as an "opposition" party. Goddamn. Even I'm not as cynical as this bunch.

[Demeter]

46. Is That Table Set Yet, Nancy?

Not responsible, my eye! The non-responsive Democratic House Leadership is DEFINITELY equally if not more responsible.

[whistle]

5. Pelosi is absolutely correct, under her leadership as House Speaker since January 2007

...Democrats were not allowed to interfere with any of this republican foolishness

[timeoutofjoint]

11. and we were not allowed to impeach Bush!

[whistle]

27. Especially that...not impeachment...no confrontation,,,no risk,,,smae ol' same ol'!

[madrchsod]

6. ya..right nan......you did everything you could to

do nothing!

[The Stranger]

7. Instead of pulling the trigger when she had the GOP in her sights, she played to lose and now has to

dodge the press blaming Congress for the GOP's continued raping of the nation.

[ejpoeta]

9. Now, I understand that the republicans ran the congress

with bush in the wh until 06. There were, however, opportunities for the dems to do SOMETHING. if it was standing on their head and shouting. but they didn't. and even after they got a majority, they wring their hands and don't want to make any sudden moves! there is plenty of blame to go around, as far as i am concerned. Though, i do find it funny how the republicans who spearheaded the deregulation which imo helped to start this whole ball rolling seem to be trying to blame the dems.

[FVZA_Colonel]

10. Maybe if the Democrats hadn't been so scared of the Republicans and their asshole President,

that would be the case.


I have no doubt this will come back and hurt Obama.

[defendandprotect]

18. Who was Clinton frightened of when he overturned so much of New Deal ..

with Gore's encouragement ... ???

DLC or skullduggery -- ???

AND where is Dem Party accountability to Dem voter on ANY issue --- ???

Where do Dem voters hold ANY leverage on Pelosi/Reid, etal-- ??

[Habibi]

28. These are very good questions

that apparently no one here wants to answer.

[defendandprotect]

29. They don't even want them to be asked -- !!

[geckosfeet]

31. Look up thread. He had no chance of enforcing a veto. The repubs

rammed it through.

[eilen]

33. Oh Bullshit

Bill Clinton dug his heels in when he wanted to. He managed to "shut down" the government how many times when pushing for a balanced budget? He had charisma and was very influential among Democrats. I think he was looking out for his own career plans post Presidency. Granted, the impeachment proceedings (and served as an effective smokescreen) may have decreased his political capital-(-and would not have been necessary at all if it weren't for his incredible arrogance in respect to the Paula Jones case), but not for very long. He and other DLC sold us out, while telling us they "felt our pain."

That is why I am a registered Independant who happens to support the Democratic candidate. I am frustrated however with the turning around of issues however, I cannot consider another 4 years of Republican rule.


edited to correct a typo

[sendero]

13. I'm as disgusted as anyone..

... with the Dems, but Pelosi is right - this problem belongs 100% to the delusional free-markets-good-regulation-bad crowd, that being Republicans.

It is 100% THEIR management philosophies that have gotten us here. Maybe the Dems didn't try hard enough, but in most cases they were totally outgunned and in the minority.

[Old Codger]

16. Pelosi

Is tied to *'s coat tails as sure as McLame is

[frylock]

19. stfu, you enabling coward

[superconnected]

20. Too bad she supported everything he asked for.

[abumbyanyothername]

22. It's not an economic crisis

It's a financial crisis.

However, since the "finance" economy is somewhere between 3 and 30 times the size of the actual economy, it is a financial crisis with economic consequences.

[defendandprotect]

24. It's a "deregulation of capitalism = organized crime" crisis ... AGAIN --

[defendandprotect]

25. Evidently, Pelosi knows she can still play this game ...

[Zhade]

23. Um, never heard of NAFTA, I take it?

Stupid cowardly LIAR.

[amandabeech]

48. And "Most Favored Nation" trading status for China?

Those two trade agreements did a lot to destroy the middle class job base.

Let's not forget the overuse of the H-1B and L-1 visas for cheap tech and science people from Asia and other places. It no longer makes sense to study those subjects now, unless one can do it without accruing any debt.

[natrat]

26. fuck you nancy you pos

[melm00se]

32. this comment

is proof positive that the Congressional Democrat leadership are just like all current federal politicians:

They look at issues not as things that need to be addressed for the good of the country but rather they look at them and address them, or not address them as a way to score political points to acquire or maintain power.

Political power has become the goal, not the good of the country.

[Enrique]

34. Pelosi strongly lays the blame where it belongs, on the republicans

DU bashes her and blames Clinton. :crazy:

[natrat]

38. please-had this come from someone genuine the response would be different

du bashes her because she has sat back and allowed our country arrive at a point where it literally may break-so fuck her and all her bs politics-she is a skank of the highest order

[Enrique]

39. I don't trust your assessment of Pelosi

based on your calling her a skank, I think your opinion of Pelosi isn't based on anything meaningful.

[nichomachus]

44. Perhaps it's Pelosi who isn't meaningful

She's all talk and no action.

[Enrique]

52. except to homeless veterans

who will benefit from increased funding provided by a Pelosi-led Congress, and except to recipients of food stamps, which got a funding increase in the Farm Bill which passed over Bush's veto, and except to recipients of Medicare, whose funding was secured by a Pelosi-led Congress, also overriding a Bush veto.

I don't recall reading anyone on DU calling for people to contact Congress about any of those programs. Somewhere out there, someone was working to get those things done. I wonder where the "action" really is?

[nichomachus]

59. Those were the things we should have expected her to do

She would be a Republican, if she didn't. But on other overarchingly important issues, she let us down.

Trying to claim she's some kind of a hero for upholding the basics of the Democratic party is like the guy who once tried to get me to give him a "merit increase" because he was on time for work most of the time.

[Enrique]

61. she's not a hero, she's a politician

and an honest appraisal of her work as a politician would include this actual legislation that actually was passed over actual opposition, and will benefit actual people who actually need the help.

But the appraisals most often appearing on DU are not honest, they are groupthink namecalling orgies.

[nichomachus]

62. Give her my regards

I assume you work in her office.

[Enrique]

63. I work with her, not for her

I had her back on the drilling issue, contacting my republican Congressman a number of times. He ended up being one of 15 republicans voting with the dems last night.

[wvbygod]

49. If you really think the Dems in power did not enable the rethugs...

then reality really is elusive.

[DainBramaged]

58. Such a shame, you wonder who your friends are here

[bdamomma]

35. too little too late, Nancy

[Claire Beth]

36. Go Nancy - you go girl!!! Tell them

about it!!!

:dem:

[slackmaster]

37. Completely ridiculous but typical Pelosi

She's more than a little out of touch with reality.

[JuniperLea]

40. There's blood on your murdering hands in this, Pelosi!

Don't you even DARE think any of us will forget how you used us for your own gain and then ignored our pleas for justice! You cowardly swine! How DARE you talk of the George W. Bush administration's failures! You were party in this! We could have gotten out in front of this storm two fucking years ago if you had held Bush accountable then and there! You filthy Congressional whore.

I'm so sick of all of them. No one wants to accept responsibility for their actions, or their inactions.

[Hawkowl]

41. Pelosi is a corporate WHORE

Probably the second most powerful person in the country and she sits on her goddamned hands. Worthless piece of fucking shit.

[wvbygod]

42. Follow the money

Who in a position of power stood to gain the most from these companies and their political
donations?

Anyone know how to search on money these companies gave to political candidates?

[chill_wind]

45. Go to opensecrets.org.

Prepare to get angry.

[chill_wind]

57. Although usually when I post facts from there, nobody talks to me for at least a couple weeks...

[hughee99]

47. Sorry Nancy, it was a bipartisan effort...

While the repukes may have been the ones pushing the bad ideas, they wouldn't have gotten it done without Democratic cooperation.

[chill_wind]

50. *****$341.4 million A DAY*** guzzled on a war economy--- our Dems had NOTHING to do with that??!!!

And the rubberstamping funding and spending has continued....and continued........Bull-bleep!!

http://www.nationalpriorities.org/costofwar_home

[RufusTFirefly]

51. Any talk of Democratic responsibility is "off the table"!

Go get 'em, Nancy!

[chill_wind]

54. These "risk taking and greedy institutions" at opensecrets-- you'll love it.

“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.



Finance, Insurance and Real Estate Sectors:

2008* D $159,739,245 R $151,248,521 51% - 49%
2006* D $112,960,648 R $140,455,110 44% -54%


http://www.opensecrets.org/industries/indus.php?ind=F




Fannie Mae and Freddie Mac

http://www.opensecrets.org/news/2008/09/update-fannie-mae-and-freddie.html

Top recipients Office State Party Grand Total Total fromPACs Total from Individuals


Dodd, Christopher J S CT D $165,400 $48,500 $116,900
Obama, Barack S IL D $126,349 $6,000 $120,349
Kerry, John S MA D $111,000 $2,000 $109,000
Bennett, Robert F S UT R $107,999 $71,499 $36,500
Bachus, Spencer H AL R $103,300 $70,500 $32,800
Blunt, Roy H MO R $96,950 $78,500 $18,450
Kanjorski, Paul E H PA D $96,000 $57,500 $38,500
Bond, Christopher S 'Kit' S MO R $95,400 $64,000 $31,400
Shelby, Richard C S AL R $80,000 $23,000 $57,000
Reed, Jack S RI D $78,250 $43,500 $34,750
Reid, Harry S NV D $77,000 $60,500 $16,500
Clinton, Hillary S NY D $76,050 $8,000 $68,050
Davis, Tom H VA R $75,499 $13,999 $61,500
Boehner, John H OH R $67,750 $60,500 $7,250
Conrad, Kent S ND D $64,491 $22,000 $42,491
Reynolds, Tom H NY R $62,200 $53,000 $9,200
Johnson, Tim S SD D $61,000 $20,000 $41,000
Pelosi, Nancy H CA D $56,250 $47,000 $9,250

AIG


AIG has given almost TWICE as much to Dems since 06.

http://www.opensecrets.org/orgs/summary.php?id=D000000123

see Top Recipients: http://www.opensecrets.org/orgs/toprecips.php?id=D000000123


ALL insurance money:

http://www.opensecrets.org/industries/summary.php?cycle=2008&ind=F09


Lehman Brothers



Since 1989, Lehman Brothers's employees and political action committee have given $9.2 million to federal candidates, parties and political action committees, with 54 percent of that going to Democrats. In the current Congress, 271 lawmakers have collected nearly $3 million since 1989, with 72 percent going to Democrats. Democratic presidential candidates and senators Hillary Clinton and Barack Obama top the list of all-time recipients for the company, collecting $410,000 and $395,600 respectively. Sen. Charles Schumer, D-N.Y., a member of both the Senate Banking, Housing and Urban Affairs Committee and the Senate Finance Committee, hauled in $181,450, while Sen. Chris Dodd, chair of the Senate banking committee, has collected $165,800. The top recipient of PAC money from Lehman Brothers has been Rep. Mike Castle (R-Del.), a member of the House Financial Services Committee, which has jurisdiction over banking and the securities industry. Castle has collected $38,500 from Lehman's PAC since 1993.

This election cycle, Lehman employees have given about $1.3 million to presidential candidates. Only fellow financial giants Goldman Sachs, Citigroup and Morgan Stanley have given more to the presidential hopefuls this election cycle. Lehman employees have made their firm one of the top contributors to both Obama ($370,500) and John McCain ($117,500) this election cycle. The company is also on track to spend more than $800,000 on federal lobbying this year.

The following members of the 110th Congress have received contributions from the employees and PAC of Lehman Brothers since the 1990 election cycle.

Members of the 110th Congress who have received campaign contributions from Lehman Brothers, 1989-2008

Clinton, Hillary $409,980

Obama, Barack $395,574

Schumer, Charles E $181,450

Dodd, Christopher J $165,800

Lieberman, Joe $165,450

Kerry, John $151,664

McCain, John $145,100


(see full list--- I just listed the top few ....)

http://www.opensecrets.org/news/2008/09/brothers-grim-is-lehman-next.html

[ramapo]

60. Stupid thing to say

No credibility with a remark like this