The speech that sank Wall Street
Did Nancy Pelosi’s speech to Congress really sink the bi-partisan rescue plan? Republicans would have you think so.
As everyone heard Monday, the first go-round for a rescue plan for Wall Street and Main Street died in the House of Representatives causing markets to plummet. Immediately afterward the finger-pointing began.
One claim from Republicans charged Speaker of the House Nancy Pelosi with the defeat. House Minority Leader John Boehner claimed her speech to House members before the vote was so partisan it deterred members from voting for the bill.
“We could have gotten it if it were not for this partisan speech that Speaker Pelosi gave,” Boehner said.
Democrats have dismissed that charge. Rep. Barney Frank responded most vehemently.
But is there any truth to that Republican charge? See (or read) for yourself.
Pelosi is not to blame for the failure of this bill. GOP leaders conceded that late yesterday once calmer heads had prevailed, The Washington Post reported.
However, given the importance of this bill, Pelosi’s speech was too partisan. She had a chance to rise above the bitter divides and deliver an inspiring and rousing speech on the House floor—and she didn’t.
Meanwhile, Pelosi's Republican counterpart in the House, Boehner, gave a five minute speech before the vote that sought to rally both parties in Congress to vote for the bill. Take a look.