Pelosi says “No U.S. House bank bailout vote unless passage certain”

October 2, 2008 by · Leave a Comment
Filed under: Legal News 

Well it will be interesting to see if she can get the support they need before Friday. I am still in opposition to the plan and I hope the congress will uphold the majority of the people’s will and block this socialist corporate welfare in our free enterprise economy. When I make bad investment decisions, no one comes to bail me out so why should we take our hard earned income to support failed banks and there bad investment. It seems that this notion that credit will not flow if these bank go under is just flat wrong.

Yes, easy credit/money will be harder to find but this is what helped get us into this situations. We need to get back to basics which is sound money, saving money and making exports that people want to so we can keep our trade balanced or in our favor so we can retire the national debt. You can disagree if you care but these is what the solution is.

Press Release:

U.S. House of Representatives Speaker Nancy Pelosi said on Thursday that she would not schedule a vote on a $700 billion financial bailout bill unless she had enough votes for passage.

“We’re not going to take a bill to the floor that doesn’t have the votes. I’m optimistic that we will take a bill to the floor,” Pelosi, a California Democrat, told reporters.

“We want to see if we still have the 141 (Democratic) votes that we had before and that seems to be coming in pretty well,” she said.  On Monday, the House rejected a bailout bill, which triggered a record 778-point drop in the U.S. stock market. The U.S. Senate on Wednesday approved a bailout bill after adding a number of tax breaks to attract more support.

Source: Reuters

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!