UPDATE:US Rep Pelosi: We Won't Hand Over $700 Billion `Blank Check'

[Purveyor]

Source: Dow Jones

By Patrick Yoest, Of DOW JONES NEWSWIRES

(Adds detail from Pelosi statement)

WASHINGTON -(Dow Jones)- U.S. House Speaker Nancy Pelosi said Sunday that Congress should not write a "blank check" to Wall Street in a bill to allow the U.S. to buy up distressed assets.

In a statement issued Sunday evening, Pelosi said a Treasury proposal received by Congress "does not include the necessary safeguards" and that congressional Democrats "will not simply hand over a $700 billion blank check to Wall Street and hope for a better outcome."

Members of Congress and Bush administration officials have been engaged in talks over the weekend on an administration proposal that would give the Treasury Department authority to buy up to $700 billion in distressed mortgage assets from financial institutions, which is expected to become the basis for legislation that could pass within days.

Pelosi, in her statement, said that the Democrats would seek to limit executive compensation - a position also floated recently by House Financial Services Chairman Barney Frank, D-Mass.
.

Read more: http://tinyurl.com/4rvr5j

[ClayZ]

1. Yay!

K and R

[hedgehog]

2. How about tying the bailout to increasing the minimum wage to $12 /hr?

[WriteDown]

38. Why 12$?

Just seems like an odd number :)?

[hedgehog]

40. Just off the top of my head - all I know for sure is that the current minimum wage

is a joke.

[aquart]

3. Sure you won't, Nan.

Why, I'll bet you make them say "Thank you" very politely.

[spotbird]

42. It's pathetic that she even bothers

to say so, an insult really.

We all know to a certainty how this is going to end.

[billybob537]

4. The right answer is recievship.

Don't let these bastards continue to run companies they've screwed in to the ground.

[bronxiteforever]

6. Brilliant point!

[AndyA]

5. Nancy Pelosi...big talker. She was going to hold the Bush Administration

accountable...remember? How's that going, Nancy? You've sure held George's balls to the fire since you became Speaker of the House!


























NOT! :eyes:

I'll believe it when I see it, and not a moment before.

[snappyturtle]

18. Ditto what you said. n/t

[CountAllVotes]

7. maybe some email boxes have been checked today

:thumbsup: folks!

We the People are getting the message out!

Do NOT and I repeat, do NOT bail out these crooks!

:kick:

[greyghost]

10. AGREED! We need to jam their e-mail boxes and the Hill PBX!

[Maven]

8. Well here's hoping.

Not that I have much faith in Pelosi to stand up to them.

[Booster]

9. Me neither.

[gristy]

11. How about no kind of check?

I want to see about two dozen strings attached to any check from Congress. Including intense congressional oversight.

[GoesTo11]

12. They're still planning a blank check

She's complaining that after giving away $700B for Paulsen to sprinkle among his Wall St. friends, there has to be another $25B to sprinkle on homeowners, ok, limit exec compensation. But she's not complaining about the "no review" clause that gives Paulsen dictatorial powers to do with the huge bundle of cash as he wants. The Dems are caving as Bush shouts about the urgency of the meltdown. We the taxpayers are going to be stuck with another tab for a handout to the rich.

[BlueIdaho]

13. Time to tell truth to power...

If they want 700 billion dollars from the American citizens - they are going to have to accept both regulation and review - PERIOD.

[eowyn_of_rohan]

22. she's not complaining about the "no review" clause that gives Paulsen dictatorial powers ..."

I thought that was addressed here: "Pelosi said a Treasury proposal received by Congress "does not include the necessary safeguards"
Hoped so anyway...

[GoesTo11]

24. Unclear. Maybe they are. That would be much better.

[Triana]

14. Ms. Nancy Marie Pelosi - you'll SAY you won't hand it over, but in the end...

...you WILL. And then WE will be taking it in OUR ends.


AGAIN.


MAKE ME WRONG, Lady. I DARE you! I'd be EVER SO HAPPY to be wrong this time about you, Nancy Marie...

[dixiegrrrrl]

15. If Obama wants my vote, HE needs to propose and/or vote for an alternative idea to the give away.

And his campaign will get my e-mail saying so.

Anyone else want to send one???
Hm??

anybody?

Money where your mouth is message to Obama?

As for Pelosi, she gets the blame...she coulda prevented all this by impeachment.
That woman is bought and paid for, and where I come from, there is a name for that.

[Catch22Dem]

17. "If Obama wants my vote"???

What are you planning to do otherwise? What was your main issue before these bailouts and bank failures? Where did you stand on Obama then?

Sorry, but your thinly veiled threat to vote for someone else is strange.

No, I don't want to join you in that e-mail. Sounds stupid. There are about 1000 things I care about, and my vote is not going to hinge on this ONE thing.

[dixiegrrrrl]

30. I made no threat, thinor otherwise, to vote for someone else..

[Captiosus]

34. Re-read your own lines...

"If Obama wants my vote, HE needs to propose and/or vote for an alternative idea to the give away."

The logical conclusion to this statement is that Obama will not get your vote if he doesn't propose and/or vote for an alternative idea to the give away. This is called a conditional statement. IF he does this, I'll give my vote; ELSE, I WON'T give my vote.

Yes, it's a threat, plain and simple.

[WriteDown]

37. I too would like to an alternative plan....

but at this point I do not think it will change my vote away from Big O.

[Atman]

16. It won't be a blank check. Nancy will use smiley-face i's and draw a heart in the memo line.

:eyes:

Pelosi has lost her leadership. When she could have stopped these madmen she took impeachment off the table. Now the crimes are worse than ever, and still...off the table. Fuck you, Nancy. You had the chance to DO SOMETHING and you didn't.

.

[Bluebear]

19. Big talker

[bvar22]

20. Fancy Nancy says "No" to the cameras on Sunday,

...and signs the Blank Check with a wink and a smile on Monday.

[WillParkinson]

21. That's right! Don't fund the Iraq war!

Oh, wait. You're not talking about THAT blank check.

[Trillo]

25. "Oh, wait. You're not talking about THAT blank check."

Are you sure?

This is about Wall Street, where creative financing reigns supreme.

[nradisic]

23. The Dems are growing a spine?

Holy shit on a stick! Nancy says no deal? Maybe the fact that Obama has reached out to all the Democratic leadership may have helped. No blank check. No way & No how.

[KoKo]

26. Mz Nancy Feeling Heat from her Opposition Candidate...who cannot be named on this site, maybe?

Nancy who "squeeks" before she complies....:puke:

[gate of the sun]

27. it needs to be way more than executive compensation

I think we all should recieve a % of these corporations if we are going to be so kind as to pay for the savings of these corporations...... I want my 0.05% and I want payouts....I hope the dems will lookout for our interests and stop this blank check.....this is the biggest screw job in history.

[fshrink]

28. That wouldn't be the first time...

In fact, these last 8 years have been a blank check after another. For a total that nobody can even compute. Some people definitely got way richer.

[L0oniX]

29. I have 0 confidence in "impeachment is off the table" Pelosi.

[Javaman]

31. Yeah whatever, I have heard these proclamations before. nt

[The Stranger]

32. The Pelosi Traitor has spoken.

Now you know we're fucked.

[bobthedrummer]

33. "Inconvenient truths about the New Democrats, the Third Way, Democratic Leadership Council, etc"

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x2973191

[BigBearJohn]

35. She's RIGHT. They will hand over a check for ONE TRILLION instead!!

[fascisthunter]

41. you know what... you might be joking but She Probably Will

[indio55555]

36. No.

It will be a $700 billion gift card.

[Supersedeas]

39. Bushler looking for one final govt handout to his tuxedo base prior to leaving office