Just What Did Nancy Say to Upset Those Guys?

Some among the Congressional republicans are blaming a speech by House Speaker Nancy Pelosi for the failure of the republicans to deliver the votes they needed to pass the $700 billion bailout plan. Apparently Speaker Pelosi, like many of us out here on Main Street, blames the problems of Wall Street at least in part on George Bush:

Pelosi had said that the $700 billion price tag of the measure “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.”

Those are fairly strong words, but not out of line for politics and politicians. And was that all she said? I took a look at the full text of the speech, as posted on Talking Points memo this afternoon. That bit there? That's the second paragraph.

I yanked the text over into Wordle and created this word-cloud of the 75 most frequently used words in that text. I'm seeing "Street. Financial. American crisis. Recovery legislation. Must."

As I read it, she smacks the Wall Street folks around much more thoroughly than she does the President or the Republicans.

The corporate CEOs whose companies will benefit from the public's participation in this recovery must not benefit by exorbitant salaries and golden parachute retirement bonuses.

Our message to Wall Street is this: the party is over. The era of golden parachutes for high-flying Wall Street operators is over. No longer will the U.S. taxpayer bailout the recklessness of Wall Street.

This is the one thing that both right- and left-wing folks I've talked to agree about right now. (That and the delightful fact that the Cowboys were beat yesterday)

So. Was Nancy Pelosi so horrible? I don't think so.

I thought Barney Frank was very funny about this this afternoon:

Frank remarked on the numerical "coincidence" that the number of "deeply offended Republicans" who voted no equalled exactly the number needed to reach the 218 votes in favor to pass the bill.

"I'll make an offer," he added. "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."