September 18th, 2008
06:11 PM ET
6 years ago

Pelosi urges Bush to take action in letter

(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.

Sincerely,

Nancy Pelosi


Filed under: Nancy Pelosi
soundoff (266 Responses)
  1. John from LA

    Please tell Pelosi to SHUT HER LOUD MOUTH-this country NEVER had a speaker of the house as idiotic as her-Boy oh boy-don't you just miss Tip O'Neal?Hhe was NEVER in the spotlight as she has been!!!

    September 18, 2008 06:26 pm at 6:26 pm |
  2. dennis from chicago

    contrary to her wailing PELOSI AND REID ARE ALLL PART OF THE DO NOTHING DEMOCRATS///// PARTY FIRST......COUNTRY SECOND THAT'S THEIR CRY

    September 18, 2008 06:27 pm at 6:27 pm |
  3. Tom

    We got all we will get from this idiot (Bush). A two minute speech saying this is hard work. lol

    September 18, 2008 06:27 pm at 6:27 pm |
  4. highschoolstudentmakingadifference

    Pelosi is amazing.

    It's sad that you have women like Pelosi, Sebelius, Napalitano and McCaskill that get cast into the shadows while Sarah Palin makes the cover of magazines and becomes headline news.

    September 18, 2008 06:28 pm at 6:28 pm |
  5. Rick

    Nancy Pelosi telling someone to take action?? Nancy, what in the world have you and your do-nothing congress been doing for the past 2 years? Oh, I know.....nothing!

    September 18, 2008 06:28 pm at 6:28 pm |
  6. Angela

    This is why we need a democratic President. This way we can get things done without the worry of the president vetoing everything.

    September 18, 2008 06:28 pm at 6:28 pm |
  7. Barney

    If they are going to hang around anyway, why not start impeachment proceedings against Bush/Cheney – there isn't enough time to get it done, but it needs to be in his "impeccable legacy record".

    Send the message to the next crew that "IMPEACHMENT IS ALWAYS ON THE TABLE". And in cases like Bush/Cheney it should be used !!

    September 18, 2008 06:28 pm at 6:28 pm |
  8. VIRGINIA VETERANS FOR OBAMA!!

    47 days, and we can be done with all of them!!

    NOVEMBER 4th!!! We can be done with them. Forget about age, skin color and gender and think about what is best for this country.

    We can not afford another do nothing, care about nothing republican in the White House.

    Fix the mess!! VOTE DEM!!

    September 18, 2008 06:29 pm at 6:29 pm |
  9. Hammerlock

    To the poster wanting Pelosi to impeach Bush/haul him in front of a committee:

    Won't happen. At least not until February; there isn't a sufficiently large majority in the House/Senate to force the issue and the Republicans will pull the "Total Hypocrite" card and scream partison hack job politics for attempting to go after the sitting president.

    The republicans are setting records for the most obstructionist party in modern history.

    September 18, 2008 06:29 pm at 6:29 pm |
  10. Emily

    Nancy, you are a bit slow. We want more aggressive leadership from you. Bush needs to take a responsibility for the wrong war, economy crush, and his lies to American people. I am sure even Republicans will support you to impeach him.

    September 18, 2008 06:30 pm at 6:30 pm |
  11. DRJ

    You've got to be kidding me. Is that all she could write? Recycled lines from the campaign trail ("From Wall Street to Main Street...") Why doesn't SHE do something if she thinks individuals can suddenly reverse this festering mess.

    September 18, 2008 06:30 pm at 6:30 pm |
  12. Ron

    I have a novel idea. Instead of bailing out banks,insurance companies and auto makers,lets bail out the people who are
    providing the money for these bailouts and pay off everyones
    mortgage. That way they would be paid back all their investments.

    September 18, 2008 06:30 pm at 6:30 pm |
  13. Howard

    Nancy Pelosi is such a joke. So, now she decides to give the phony appearance that congress is willing to address this problem Where was she a few weeks ago when she stone walled, and ignored the people's business ... and when congress went on vacation, when the nation needed them?

    September 18, 2008 06:31 pm at 6:31 pm |
  14. Robert Deming

    Sure, but if she asked bushdog to do it then she should be asking both Mr. O and Mr McPalin! This would clear up some questions.

    Obama and me! 2012

    September 18, 2008 06:31 pm at 6:31 pm |
  15. RJ, CA

    What is causing the current economic crisis?

    The subprime mortgage meltdown.

    When did the subprime mortgage meltdown begin?

    In 2006/2007.

    Who was given an overwhelming mandate by the American voters in 2006?

    The Democratic Congress.

    Who voted 98% of the time with the Democrats in Congress?

    Barrack Obama.

    The legislative branch (Congress) makes our laws - the president
    merely enforces these laws.

    So dribble your dried-up estrogen somewhere else, Pelosi (how about The View or Oprah) - and FIX THE MESS YOU MADE!

    McCain/Palin!!!!!!!!!!!!!!!!!!!!!!!

    Who will put the USA back on the RIGHT track!
    NO bigger government.
    NO welfare state.

    NO OBAMA, NO WAY, NOT NOW, NOT EVER!

    September 18, 2008 06:31 pm at 6:31 pm |
  16. Sam Rose

    Obama-Biden

    That is the TEAM that will get it done--

    September 18, 2008 06:31 pm at 6:31 pm |
  17. No plan, No future.

    But on Tuesday, when asked how much worse the economy would have to get before the campaign released a specific plan, McCain senior adviser Doug Holtz-Eakin said that it wasn't "imperative" for an "exact" plan to be drawn up yet.

    September 18, 2008 06:32 pm at 6:32 pm |
  18. Jeff Brown

    Don't waste your time Nancy, this idiot can't do anything right!

    September 18, 2008 06:32 pm at 6:32 pm |
  19. angela

    Pelosi is a tool – an ineffective one at that. She promised that she and her Democratic-majority Congress would accomplish great things. What has she accomplished - other than contributing to the current financial crisis by doing nothing and blaming Bush for every problem? No wonder Congress' rating is significantly lower than Bush's rating.

    September 18, 2008 06:33 pm at 6:33 pm |
  20. PALIN POWER

    Didn't know Bush was part of the Legislative Branch... you know the one that makes laws...

    Now I understand why our congress is clueless... the leaders there are!

    September 18, 2008 06:33 pm at 6:33 pm |
  21. Joe Regis

    I hope Obama/Biden share their plan with the current administration because, I do not think they can do anything right at this point in time. I think they may make things worse.

    Obama/Biden will fix things again and bring back prosperity and security to America.

    September 18, 2008 06:33 pm at 6:33 pm |
  22. John Kaleto

    And where have the democrats been for TWO YEARS??? They control both houses, THEY make the laws, NOT the president.

    Nice timing of Pelosi, just as Congress heads home to campaign for reelection.

    September 18, 2008 06:34 pm at 6:34 pm |
  23. Vote Republican because

    Dear Nancy,

    When you send a message to George W. Bush be sure to use very small words like stop, no and go when you want him to do a specific action.

    In some cases you might want to draw a diagram to explain things like Iran is here, Texas is located here and George, you are here.

    Make sure you explain such things like Wachovia is a bank and banks lend money, Nationwide sells insurance and Ford is a Car company. He will need your help with understand true logic..

    When it comes to clueless you are writing to the biggest loser so be sure to understand your audience before sending him anything.

    Signed,

    Vote Republican because

    September 18, 2008 06:34 pm at 6:34 pm |
  24. Pel Jones

    I think the best part of George Bush was lost in his conception !! He is by far and away the worst President this Vountry has ever produced and makes Herbert Hoover look like progressive !!! And this from an Independently Registered Voter who like most of the Country counts the days until his reign is over !!!

    September 18, 2008 06:35 pm at 6:35 pm |
  25. readysteady

    Is this the same Nancy Pelosi who refuses to let a legitimate vote on offshore drilling take place and thinks Congress deserves a 5 week vacation in the middle of an energy crisis? What we need, Nancy, is for you to step down...

    September 18, 2008 06:35 pm at 6:35 pm |
1 2 3 4 5 6 7 8 9 10 11