(CNN) - House Speaker Nancy Pelosi is sending a letter to President Bush pressuring him to offer a "comprehensive and effective systemic response to ongoing market turmoil."
"We need to hear from you about a comprehensive and effective systemic response to ongoing market turmoil — one that will restore stability, grow our economy, create jobs, and insulate hardworking, middle-class Americans on Main Street from Wall Street’s crisis," Pelosi writes in the letter.
She also says Congress will be willing to stay on Capitol Hill beyond the target adjournment date of September 26 to deal with the problem.
Full letter after the jump
Dear Mr. President:
The worsening crisis in our financial markets demands strong solutions and decisive leadership.
Already, House and Senate committees are investigating both the regulatory lapses and market oversight failures that resulted in this crisis, as well as possible solutions. This work will continue.
Accordingly, we stand ready beyond the targeted adjournment date of September 26 to permit Congress to consider legislative proposals and conduct necessary investigations.
Going forward, we need to understand how government failed to prevent this financial crisis, and how we can avoid future mismanagement and denial.
Thus far, we have seen a reactive, case-by-case approach to a severe crisis – a crisis attributable in part to a history of indifference to responsible regulation of the financial markets. We need to hear from you about a comprehensive and effective systemic response to ongoing market turmoil — one that will restore stability, grow our economy, create jobs, and insulate hardworking, middle-class Americans on Main Street from Wall Street’s crisis.
The worsening economy demands another bipartisan economic recovery effort. This effort must address:
• investment in infrastructure for economic growth and job creation here at home,
• home heating assistance at a time of record energy costs,
• extended Unemployment Insurance for the growing number of Americans looking for work,
• Food Stamps that will help ensure we feed hungry families in a time of crisis, and
• assistance to maintain critical health care coverage jeopardized by state budget cuts.
We stand ready to work with you and your Administration to consider constructive solutions that stabilize our financial markets and balance accountability to the U.S. taxpayer with protecting American families from the crisis’s fallout.
Thank you for your willingness to work with us to address these issues which affect every American family.
drill here drill now and quit worrying about gays getting married in your district!
PELOSI GO RATTLE SOME CAGES ON YOUR SIDE AND GET THEM DEAD BEATS UP AND RUNNING AGAIN....
THIS IS WHY THERE SHOULD BE TERM LIMITS FOR THE CONGRESS AND THE SENATE... IT SURE WOULD HELP IF TERM LIMITS WERE IMPOSED MAYBE THEN THIS PROBLEM WOULD NOT HAVE HAPPENED.
FIRE THEM GOOD OLD BOYS AND START OUT NEW
Pelosi has not done much to impress me but when Bush is vetoing everything sent by the Democrats and the Senate at 49 Democrats and 49 Republicans, there was not a whole lot Congress could do. The Republicans have not been interested in change....well, until they saw how popular that word became with Obama.
the only thing circling is obama on larry sinclair!
I CANT BELIEVE THAT A WOMEN IN OUR COUNTRY HAS HAD THE THINGS SAID ABOUT HER THAT PALIN HAS INDURED............WE WOMEN VOTE ......AND MALLICK FROM CANADA AND ALL CANADIANS SHOULD SHUT UP AND GO BACK TO CANADA..............SHE IS OF THE LOWEST LOW TO SAY SUCH THINGS ABOUT A WOMEN OF PALINS CHARACTER.........I DONT KNOW HOW PALIN ENDURES WHAT SHE DOES..........WOW AND JUST HAD A NEW BABY TOO ............AND CAMPAINGING.........WOW NOW IRANIANS DONT WANT HER TO COME BECAUSE HILLARY THREW A FIT AND WANT COME...........JEWS ONLY WANT DEMS THERE............WATCH HILLARY WILL SNEAK UP THERE ............HILLARY WILL STILL DO ALL SHE CAN FOR THE DEM PARTY EVEN THOUGH THEY SCREWED HER......AGAIN ...AGAIN ....AGAIN.......AGAIN.......REMEMBER JARRETT IRANIAN BORN ...........OBAMA IRANIAN TALKER ................THESE IRANIANS ARE NOT OUR FRIENDS .....I WOULDNT INVITE THEM TO DINNER ...........
Pelosi wants action??? How many years has she been majority leader of a do-nothing Congress??? Now that it's an election year, she wants action. Figures. She talks out of both sides of her mouth, just like all politicians.
I find it be be just absolutely disgraceful and unbelievable that Sarah Palin and her husband will refuse to comply with a subpoena and that John McCain would endorse this behavior. Already, before they are even elected McCain and the Palins are engaging in illegal, unethical, sneaky behavior. For this VP candidate to hide behind the shirt tales of John McCain and to use this candidacy as a reason to engage in unethical and illegal behavior is outrageous. Since when is a political candidate above the law, much less the spouse of such? If this is how they behave now, imagine the shenanigans and illegal political maneuvering which would go on if they were elected. Disgraceful! And then there is the issue of unethical behavior in regards to her usage of email. Unbelievable!!
civics 101.....minority dem congress wih a Rep Pres (with power to Veto) dah...what is so hard to understand?Don't blame Pelosi. Blame Bush and his veto and the Reps who continue to vote along party lines to keep their jobs. It's a power struggle..pure and simple.
If I can see this, why can't some Americans see it?
if McCain is elected, I think Ill stuff my money in an old sock and bury it in the backyard.
Hey Joe Cool, by the time Democrats took over a very corrupt Republican house the damage to the economy was done. To say that the eight years that George Bush has spent in office is irrelavant to the economic crises ridiculous! This is his fault because for eight years he has been a president who has engaged in extreme fiscal irresponsibility and he allowed this to happen.
It's true!!! 95% of the American people are illiterate blithering idiots!!!
Did any of you attend "grammar" school?
Well, the middleman takes another big hit in the 40lK department. I think Bush and the boys have about drained all they can out of us.
They're leaving, what do they care?
McCain is showing signs of Alzheimers, why is no one picking up on this! These are not gaffs the man is ill, he is not mentally fit to be President. Someone close to him has to know it. This is a cover up.
i don't think the middleman has anything left to get. With the latest Wall Street news, we've been cleaned out.
CNN, why do you not allow comments on your stories especially the Palin stories? Where is the story where people walked out of the event while McCain was still talking? This news organization does not publish much of the news, mainly when it pertains to McLiar/Palin or is it Palin/McLair campaign and their gaffees. What is going on Candy, Wolf and Campbell, is your guy screwing up - McLiar.
Florida is voting McCain/Palin. Pelosi and Reid will crap their pants when they get to Washinton. Ha Ha I can't wait.