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Text Of Nancy Pelosi’s Speech On Bailout

Below is the text of the speech by House Speaker Nancy Pelosi (Above with Tip O’Neill) that Republicans have said hurt their feelings. It seems like a pretty good speech as far as I can tell.  

Here is the speech–

Madam Speaker, when was the last time someone asked you for $700bn?

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.

Democrats believe in the free market, which can and does create jobs, wealth, and capital. But left to its own devices, it has created chaos.

That chaos is the dismal picture painted by Treasury Secretary [Henry)] Paulson and Federal Reserve Chairman [Ben] Bernanke a week and a half ago in the Capitol. As they pointed out, we confront a crisis of historic magnitude that has the ability to do serious injury not simply to our economy but to the American people; not just to Wall Street, but to everyday Americans on Main Street.

It is our responsibility today, to help avert that catastrophic outcome. Let us be clear: This is a crisis caused on Wall Street. But it is a crisis that reaches to Main Street in every city and town of the United States.

It is a crisis that freezes credit, causes families to lose their homes, cripples small businesses, and makes it harder to find jobs. It is a crisis that never had to happen. It is now the duty of every member of this body to recognise that the failure to act responsibly, with full protections for the American taxpayer, would compound the damage already done to the financial security of millions of American families.

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October 1, 2008 Posted by | Politics, Uncategorized | , , , | 1 Comment

I May Have Rushed To Judgement In Next Year’s Race For Mayor Of Houston

Johnnie Cochran Dies at 67

As I recall, the term “rush to judgement” came into wide popular usage when Johnnie Cochran used the line while defending O.J. Simpson. Mr. Cochran spoke the phrase in his opening statement.

I’m going to borrow that line from Mr. Cochran (R.I.P.)

I may have rushed to judgement in my view of who should be the next Mayor of Houston, Texas. The election will be held in November of 2009.

There are, at this point, two leading Democratic contenders. City Controller Annise Parker and City Councilmember Peter Brown.

I’ve always had a visceral negative reaction to Ms. Parker. I’m now questioning if this reaction has been fair. 

Ms. Parker very often uses terms that allude to, or directly refer to, ideas like pragmatism and only seeking to get done things that, in her view, are politically obtainable. 

Ms. Parker’s language frustrates me. I feel that politics is at core about imagination. A political figure begins with an idea, sometimes even an idea that does not seem likely to suceed at first, and then works to see her idea become a reality.

Ms. Parker has reminded me at times of current Houston Mayor Bill White. In my observation, Mayor White is often simply dismissive of ideas that do not conform with his immediate agenda. He’s obnoxious and unimaginative in that way. 

What has given me a second thought about Ms. Parker was that as I was doing some research for another post, I came across an anti-poverty event she attended with former Presidential candidate John Edwards. Ms. Parker has had a standing concern about easier access to banking for low-income citizens of Houston.

Up to now I have been supporting Councilmember Brown. I felt that, when you got down to it, Councilmember Brown was to the left of Ms. Parker.

But just as I learned something about Ms. Parker that shifted my view, I also learned something about Mr. Brown that gave me pause.

In August, Mr. Brown attended a Republican fundraiser that had as featured speaker Karl Rove. I don’t believe Mr. Brown is a Republican. But I did feel that the whole thing was screwy. Just why would an elected Democrat, ( You can take a hike with that non-partisan municipal election junk) go to an event featuring Karl Rove?

Is this the kind of goofball campaign we are going to see from Mr. Brown?

So I’m going to wait and see on the question of who should be the next Mayor of Houston. I’m going to give Ms. Parker a new look and turn a harder eye to Mr. Brown. I may still end up supporting Mr. Brown, but I don’t want to make a “rush to judgement.”

October 1, 2008 Posted by | Houston, Politics | , , , , , , , , , | 2 Comments