News / Finance
Nancy Pelosi Partisan Speech Blamed by Republicans for Failed Bailout Vote
Republicans in the House of Representatives blamed Democratic speaker Nancy Pelosi's speech for the failed bailout bill vote on Monday.
Pelosi, the Speaker of the House, gave what they considered as a partisan speech prior to the vote for HR 3997, the Emergency Economic Stabilization Act of 2008, which asked Congress to relinquish $700 billion to bail out Wall Street.
"[W]hen was the last time someone asked you for $700 billion?," asked Pelosi prior to the vote. "It is a number that is staggering, but tells us only the costs of the Bush administration's failed economic policies — policies built on budgetary recklessness, on an anything-goes mentality, with no regulation, no supervision, and no discipline in the system."
Despite Pelosi's September 29th impromptu speech, two-thirds of Democrats voted for the bill. Democrats voted 140 to 95 in favor of the legislation, while just 65 Republicans backed the bill and 133 opposed it.
The full text of the Congressional bailout bill (HR 3997) is located on the House of Representatives website.
The video of Pelosi's speech on the floor of the House prior to the HR 3997 vote is located on YourFindit Videos.
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