Pelosi: George Bush Has No Credibility On The Economy

Speaker Pelosi addressed reporters today on the current economic crisis, saying:

One thing is clear: George Bush and John McCain have no credibility when it comes to the economy. Just the brevity of the President's statement. We wondered if he was ever going to come out of hiding on this subject. He came out and in one minute he said very little. What was expected was an explanation to the American people of what has happened because it has a direct impact on their lives. What would be hoped for would be an apology to the American people for the situation that we're in.

George Bush and John McCain, as I said, they have no credibility. How else could John McCain in the midst of the greatest financial crisis since the Great Depression tell the American people, "the fundamentals of our economy are strong"? What could he have been thinking? George Bush and John McCain neither understand the economic hardships facing Americans, nor do they have solutions to address the crisis.

You know that much of this happened because of lack of regulation, lack of oversight in terms of the Administration making sure that these financial institutions were capitalized as they took risks.

This is what this is. This is the failure of an ideological "anything goes" economic policy. They call it the free market. Democrats support the free market and we want to encourage the markets. But it's not a free market when you can run wild, anything goes, privatize the gain, nationalize the risk and when you fail, the middle class bails you out. It's just not fair. It's just not right.

So when John McCain says, when he told the Wall Street Journal, "I am the greatest deregulator you'll ever interview," what a sad boast. What a sad boast. Especially in light of the consequences of that deregulation.

To aggressively address the final crisis, we will investigate the Bush Administration's mismanagement of financial market regulation, how it led to this crisis, and what solutions Congress can act upon. We hope we can work together with the Administration on this, that they will have some positive initiatives.

Category:

News & Politics

Tags:

• Economy
• Bush
• McCain
• Economic
• Crisis
• AIG

[TheKuKluxKlan2012]

If I had a penny for every lie and guise that came out of this Illuminati-whores mouth I'd be in the Bilberburg group I'd be so rich.

[HotaruZoku]

Actuelly Madam.....that's EXACTLY what a "Free Market" is. I know, I know. You people are loosing your mind over not being to filter my opinion out of the internet, of course you can't imagine freely associating groups operating under their own codes.

Oh, and nice one getting in that tried and true shot about how -everything- is from a "Lack of regulation". God knows the more the Government's involved in my life the better it is for the world.

Try to regulate your talking points sometime.

[fluteygurl0]

And you have credibility, Pelosi? Next time you have a thought, just let it go, please...

[jkingsmill]

You have no credibility as an American you socialist!

[anyusmoon1]

Appalling pelosi hypocrisy- did u sign bailout bill? Yes! Did u sign stimulus bill? Yes! You criticize the previous admin 4 bailing out AIG, as do I yet u went forward with 'applause' 2 bailout $4 clunkers & bailing out GM! Then to add insult to injury you bailout health care pharmaceutical and insurance industries! This healthcare fiasco is identical in private-company bailout as AIG! YOU HYPOCRITE! It's hard to believe you, Re-id, Boxherd, Frwank made it trough the shellacking.

[carmenelectra10]

you go pelosi! i LOVE how you people are so threatened by her STRENGTH...

funny how you 'fright' wing-nuts have no problem though with that divisive, gunny-happy, violence advocating racist pop-tart pseudo politician palin...

Y'ALL ARE SO CONFUDDLED!

[carmenelectra10]

ironworker20008 - WAAH! what a surprise that the repugnican'ts are trying to pass the buck for their financial screw-ups.

sorry, but since 1995 all the way thru 2007, the Republicans controlled both chambers (House of representatives & Senate)

it was your financial screw ups that put this country into the toilet & it was your precious george w bush who deregulated EVERYTHING he could because he favored BIG CORPORATIONS more than the american people.

wake up & educate yourself

[fordatude]

dont forget to investigate obama and while your at it investigate yourselve pelosi ..

[cgburr72]

@ForTehLOLs ..........George Bush may have made some mistakes, but it wasn't until the democrats gained the majority in congress in '06 that the coruption started....If you would read up on this you wouls see that Bush tried to get Fannie Mae and Freddie Mac investigated but it was shot down by a majority vote by noneother than the dems...John McCain voted for it.....Dem. Barney Frank and his cohorts protected Fannie and Freddie because they were geting kickback.....

[CrismaFire]

I don't understand how she is still in office. I don't think a single American likes her. Maybe Acorn counted the votes. She has got to be the absolute worse politician in American history. You know how you can tell she is lying? she opened her mouth.