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GOP Tries to Blame Bailout Failure on 'Partisan' Pelosi Speech

As you probably know, the bailout bill failed this afternoon, and the GOP is trying to blame the failure on 'hurt feelings' from a speech given by House Speaker Nancy Pelosi before the vote.

FrankRep. Barney Frank mocked the GOP reasoning in a news conference. Said Frank:

"Here’s the story. There’s a terrible crisis affecting the American economy. We have come together on a bill to alleviate the crisis. And because somebody hurt their feelings, they decide to punish the country. I mean, I would not have imputed that degree of pettiness and hypersensitivity. We also have — as the leader will tell you, who’s been working with them — don’t believe they had the votes, and I believe they’re covering up the embarrassment of not having the votes. But think about this. Somebody hurt my feelings, so I will punish the country. That’s hardly plausible. And there are 12 Republican members who were ready to stand up for the economic interest of America, but not if anybody insulted them. I’ll make an offer. Give me those 12 people’s names and I will go talk uncharacteristically nicely to them and tell them what wonderful people they are and maybe they’ll now think about the country."

Watch it as well as Pelosi's speech, AFTER THE JUMP...

Here's part of what Pelosi said:

"Today, we will act to avert this crisis, but informed by our experience of the past eight years with the failed economic leadership that has left us left capable of meeting the challenges of the future. We choose a different path. In the new year, with a new Congress and a new president, we will break free with a failed past and take America in a New Direction to a better future."

Here's her whole speech. Think Progress notes that "Pelosi’s speech mentions the word 'Republican' once — in the context of praising them for bipartisanship: 'Over the past several days, we have worked with our Republican colleagues to fashion an alternative to the original plan of the Bush Administration.'"

Here are the Republicans laying blame:

(via talking points memo)

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  1. that's crazy, it was the GOP that voted the bill down.

    Posted by: Dan B | Sep 29, 2008 4:26:27 PM

  2. Who cares about the parties on this? Who cares about the speech? This was a miscalculation by Pelosi. She needed to get the deal done! Speech or whatever, she's the Speaker of the House. YOU DON'T ALLOW A VOTE UNLESS YOU'VE GOT A MAJORITY! That's her job! I hope she goes down for this debacle!

    Posted by: j | Sep 29, 2008 4:35:36 PM

  3. The GOP are trying to act like their hands are clean.

    Just watch-they will somehow attempt to delay further debates and ultimately delay the election.

    They need to grow a pair and work together with the Dems, not whine over a speech and blame others.

    Posted by: Gary | Sep 29, 2008 4:36:21 PM

  4. Pelosi grew a pair and the Republinuts started to cry.

    Posted by: kansastock | Sep 29, 2008 4:42:20 PM

  5. Thought McCain swooping in was going to save the bill? Fuck bipartisanship. McCain can't even convince his own.

    Posted by: Jason (A) | Sep 29, 2008 4:46:48 PM

  6. The failure of the bailout bill is really a failure of leadership on the part of John McCain.

    When he claimed to have "suspended" his campaign to return DC to find a solution to the economic problem, he pledged to provide leadership.

    He failed.

    Posted by: Michael Crawford | Sep 29, 2008 4:48:19 PM

  7. Why would any Democrat support this $700 billion bail out bill which is a Bush plan and provides yet even more $$$$$ to the crooks on Wall Street? If Bush got us into this mess then why should we support his plan to get us out of it?

    I salute both those Democratic and Republican House members who voted against it. The Democrats should view the failure of this Bush proposal to be a gift, and presuming that Barack Obama wins in November, the Democrats then will have free rein to implement whatever solution they think is best to get us out of the mess.

    Posted by: HOGB | Sep 29, 2008 4:50:29 PM

  8. Who are these 12 people who voted against it??? We need to know...this is ridiculous. Once again Republicans are the reason why this country is going down.

    They all fear that they will not be is all about them ...not the country ...

    Republicans are always talking about being "patriotic" ..this move wasn't patriotic...leaders have to take politics aside and get the job done!!

    I guess all the hard "WORK" MCcain did in Washington (over the phone) didn't pay off.

    The whole thing is a JOKE

    Posted by: eric | Sep 29, 2008 4:52:21 PM

  9. MCcain failed! it shows his leadership on the Economy! PERIOD!!

    Posted by: paul | Sep 29, 2008 4:54:37 PM

  10. You guys are forgetting that this bailout proposal is orchestrated by the same Bush administration that orchestrated the Iraq war? The Democrats should trust this $700 bailout for Wall Street crooks no more than they should have trusted the Bush scare tactics that pulled us into Iraq. The Democrats control the Congress, and should develop their own plan and not sign onto the Bush plan. Good for those Democrats and Republicans who voted this cash cow for Wall Street down!

    Posted by: HOGB | Sep 29, 2008 5:01:08 PM

  11. Michael Moore has a great piece against this Wall Street bailout, and I don't understand why the Democrats want to once again sit back and trust Bush and sign onto this $700 billion give-away to the rich:

    Posted by: HOGB | Sep 29, 2008 5:06:11 PM

  12. HOGB, you idiot. The bailout proposal is not designed by Bush. It is designed by Paulsen and Bernanke, both of whom are respected experts in the field. Not to mention the urgent call to get something done by Warren Buffet, almost inarguably the greatest financial mind of our (if not all) time. The stock Market took the biggest single day dive EVER following the announcement. We're no longer talking about wall street bigshots, we're talking about the complete ruin of your and my retirement packages. We're talking about the people who are going to be laid off because their companies can no longer afford to keep them employed.

    Posted by: Dan B | Sep 29, 2008 5:11:29 PM

  13. It's a petulant and selfish reason for the vote failure, but Pelosi's speech was ill-timed and wrong-headed. It was boneheaded move on her part (and not the first, not by a long shot).

    Posted by: rascal | Sep 29, 2008 5:14:49 PM

  14. @Dan B -- you mean the same Paulsen who is the Sec'y of the Treasury appointed by Bush? If it was Paulsen's economic expertise which got us into this mess, then why should we trust him for the solution to the mess he created? By the way: Bernanke had nothing to do with the design of this bailout proposal. I recommend you read Michael Moore's piece before you continue cheerleading for this Bush administration proposal.

    Posted by: HOGB | Sep 29, 2008 5:16:43 PM

  15. "We are now in the golden age of thieves. And where I come from we put thieves in jail, we don't bail them out." — Rep. Pete Visclosky, Democrat.


    Posted by: HOGB | Sep 29, 2008 5:21:10 PM

  16. Speaker Pelosi with a sharp statement against Bush! Everything is very consistent and clear! Under the question all the promises Bush! She called the president a criminal, I SHOCKED!!!
    Watch full video version here:
    This must see everyone !

    Posted by: mike | Sep 29, 2008 5:23:23 PM

  17. Mcshame failed

    "here I come to save the day" last week

    This morning pre vote

    "I saved the day!!!!!!"

    The vote came = mcshame is a fool and so are you J, HOGB, and any repub

    Posted by: Jimmyboyo | Sep 29, 2008 5:29:50 PM

  18. Thankfully this $700 Billion Ponzi scheme did not pass. You can't fool all of the people all of the time.

    Posted by: anon | Sep 29, 2008 5:42:03 PM

  19. i'm with hogb on this one. all that bill will do is ream the joe taxpayers like you and me.

    Posted by: alguien | Sep 29, 2008 5:53:21 PM

  20. Today's stock market crash totaled $1.1 trillion, more than the $700 billion bailout. So the people with retirement plans in the market are the ones currenly getting the shaft. The conservative Republicans walked away from a deal brokered by their own President and their congressional leadership. We need an intelligent president with a thoughtful demeanor. Obama 08

    Posted by: Brian | Sep 29, 2008 6:32:44 PM

  21. The economy is like a boat. No one likes the fact that it is leaking, but it MUST be repaired or we all sink. Imagine a world where you could no longer use your credit card, everything is strictly cash. That's what can happen if this is not fixed. While the Democrats held their noses in an attempt to fix the leak, the conservative Republicans were busy drilling a new hole.

    Posted by: Brian | Sep 29, 2008 6:36:36 PM

  22. Jimmy, it must be a terrible burden on you to always think you're right and think you're the smartest one in the room.

    Posted by: Las Vegas | Sep 29, 2008 6:48:58 PM

  23. Ahahaha, Las Vegas.

    I'm sure it's much harder having to deal with your association with people who can't stand the thought of you.

    Posted by: Sami | Sep 29, 2008 7:41:51 PM

  24. WARNING -- Mike's link should probably be deleted -- it leads to a site that attempts to download some .exe file, probably a windows virus (I'm on a mac).

    And looking at the language, it looks like badly translated Russian to me.

    Posted by: kevinvt | Sep 29, 2008 7:53:17 PM

  25. Las vegas

    I'm the craziest person in the room no doubt. I'll always admit to that.

    Smartest ?

    Take it up then with TIME political columnist and author of 6 books on politics / government Joe Klein.

    "...blame McCain for his puerile histrionics ..."


    Posted by: Jimmyboyo | Sep 29, 2008 7:55:45 PM

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