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• Republican members of Congress have blamed the defeat of the $700 billion Economic Stabilization Act on a speech given by House Speaker Nancy Pelosi prior to the vote.Bloomberg: U.S. House Rejects $700 Billion Financial-Rescue Plan (September 29, 2008) In the speech, given around noon on September 29, 2008, Pelosi blamed the economic policies of the Bush administration for the current financial crisis. The bill subsequently went down to defeat by 228 to 205 votes.

• Fast Facts

  1. Pelosi's speech blamed the current crisis on the free-market economic philosophy identified with the Republican partyBreitbart TV: Pelosi Attacks Bush... Prior to Vote on Bailout (Time: 5:31)
  2. The speech compares the economy of the Clinton years that that of 2008Breitbart TV: Pelosi Attacks Bush... Prior to Vote on Bailout (Time: 5:31)
  3. Bill went down 228 to 205 votes
  4. 95 Democrats and 133 Republicans voted against bill
  5. Upon bill's defeat, Dow dropped 705 points
  6. Republicans held a press conference, blaming Pelosi's rhetoric for the defeatBloomberg: U.S. House Rejects $700 Billion Financial-Rescue Plan (September 29, 2008)

• Quotes

  "$700 billion a staggering number but only a part of the cost of the failed Bush economic policies to our country."Breitbart TV: Pelosi Attacks Bush... Prior to Vote on Bailout (Time: 5:31)

  "The claim to be free market advocates when it's really an anything-goes mentality. No regulation, no supervision, no discipline, and if you fail, you will have a golden parachute. Those days are over. The party is over."Breitbart TV: Pelosi Attacks Bush... Prior to Vote on Bailout (Time: 5:31)

• Related Pages on Mahalo

  Mortgage Bailout Plan | Bailout Bill Text | Dow Jones Industrial Average | Emergency Economic Stabilization Act of 2008 | Dow Record Point Loss | Bailout Bill Rejected | Paul Pelosi

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