"Who said anything about nationalizin'? We're just . . . takin' over."
Posted on 01/26/2009 6:37:54 AM PST by Mr. Mojo
(CNSNews.com) - House Speaker Nancy Pelosi, describing the U.S. economy as “dark, darker, darkest,” indicated that further nationalization of American banks may be necessary, although she shied away from using the word “nationalization.”
Pelosi also told ABC’s George Stephanopoulos that investing in food stamps and unemployment insurance would be more effective in stimulating the economy than any tax cut would be.
In a taped, edited interview that aired Sunday on ABC’s “This Week,” Pelosi was asked if she would go along with additional government investment in American financial institutions.
Pelosi said she’s willing to do “whatever we have to do” to resolve the financial crisis.
Asked if it’s a good idea to “have nationalization or partial nationalization of the banks,” Pelosi responded, “Well, whatever you want to call it….If we are going to put money into the banks, we certainly want equity for the American people.
“In other words, if we are strengthening them (the banks), then the American people should get some of the upside of that strengthening. Some people call that nationalization. I'm not talking about total ownership… Now how big that investment becomes is -- would we have ever thought we would see the day when we'd be using that terminology? Nationalization of the banks.”
“So it (nationalization) might be necessary?” Stephanopoulos asked.
“Well, not by the terminology that you use, but some increased investment,” Pelosi responded. She said “transparency” and “accountability” must be part of the plan. “Only then would we be able to pass any additional funding,” she said.
Birth control
Asked about reports that Democrats’ economic stimulus package includes hundreds of millions of dollars to expand family planning services, Pelosi said that family planning services “reduce cost.”
“The states are in terrible fiscal budget crises now and part of what we do for children's health, education and some of those elements are to help the states meet their financial needs,” she explained. She said that funding for contraception “will reduce costs to the states and to the federal government.”
On other topics, Pelosi called Obama’s decision to close the enemy combatant detention center at Guantanamo Bay “really brilliant.”
“It's our first responsibility to protect the American people, as elected officials. And what the president puts forth was very wise. He said he's going to close Guantanamo, take the time to do it. You can't just go down there today and say, everybody out and lock the door. They're going to review the cases, narrow it down, and then go from there.”
Asked about fears that detainees will be released in the United States, Pelosi said, “I don’t even know that that is a possibility. “I know that there is provision for sending them home or to another country,” she said.
“There are all kinds of options,” Pelosi continued. “But I think you have to take the first step to say, who are these people? Why are they here? Should they be freed and sent home? Should they be prosecuted? Do we not have enough evidence to prosecute them? And in what courts are they prosecuted, a military court, a civilian court? So this plan is, I think, ingenious in what it does. Let's see how that works.”
As for bipartisanship and Republican complaints that their suggestions on the economy are being ignored, Pelosi said Democrats “will take some” Republican ideas. “We will judge them by their ability to create jobs, to help turn the economy around, to stabilize the economy and to see how much they cost,” she said. “But we're open to them and we'll review them and it all has to be done right away because our bill has to come to the floor this week.”
Pelosi said she doesn’t want the legislation bogged down with items that won’t turn the economy around. “I have the most to prove with this package, by the way, and…the choices we are making are those that will work, that must work. Our economy requires it. America's families need it. This is urgent.”
OK, so this is their mantra, and it's all about power.
All doubts removed for me.
Fox just had a FL democrat explaining how congress was now going to control every little detail in the banking industry to protect all that taxpayer money the banks were given (or strong-armed into taking).
The government’s end game is in the open.
No, ‘Nine-Percent Nance’! ALL People call that “Nationalization.”
2010 can’t come FAST enough for me!
“Pelosi also told ABC’s George Stephanopoulos that investing in food stamps and unemployment insurance would be more effective in stimulating the economy than any tax cut would be. “
Oh... my... god. She’s a brainddead vegetable. In a just world, someone would ask her HOW, exactly, food stamps and unemployment insurance encourage wealth creation ?
Kalifonia...WAKE UP!!!! Dump this broad before its too late!
Some people call it the great depression. I don’t see what was so great about it.
I closed my checking account this morning in a bailout recipient and opened a new account with a bank that is not taking federal money - and their balance sheet indicates that they will not need to. I have permanently rejected the idea of returning to my old bank, to automakers that take bailout money, and to any other bailout recipient of my tax dollars. I hope the federal stake in failing banks will be worth as much as a federal stake in Madoff’s investment fund, not because I like losing taxpayer dollars but because it’s cheaper than doing this a third time.
They’ll ask her that at the same time that they’ll ask her how closing Gitmo makes America safer.
She’s outright saying that giving tax money to poor people stimulates the economy, but no one called her on it to explain.
From my viewpoint and years as banking customer, both with personal accounts, business, and church accounts, (with one National Bank for over 40 years) it seems our law makers and the banking industry have been bed partners for too many years.
I blame the Congress and Senate members for allowing the banking industry to make flexable rules, that was very porfitable for the bankers, and very costly to their customers. Such as: Changing late the penality charges,raising the interest rate, to their customers, without notice, charging inactive fees, without the customer
approval.
A contract is not a contract, when one party can change the so called contract without the agreement of both the Bankers and the customer!
Shame on Congress and the banking industry for seeking the spotlight to solve the problem they created!
Have you figured out where to send your gas receipts to to have 0bama pay for them?
I figured with the mortgage deal, my lender will know where to send the bill now. I stopped my autopay for february on.
I am doing the same exact thing today. It’s sad because my mom was a BoA employee since ages ago, before it was BoA. We’ve been loyal customers for close to 30 years. But that ends this week...
In the 90’s when the bank mergers was starting, I have sensed a great disaster in the making.. Now we are seeing it.. I have feeling whoever buys BOA and Citigroup is going to be the main bank(s) of the United States..
I moved to a bank that did not accept Federal money as well. I am in the process of moving/ paying off credit accounts with the major banks as well.
I have made a pledge to only support conservative companies with the dollars I do spend (to the extent possible). Companies that give to both sides don’t count in my opinion.
Never happen the sheep are fat and happy in new cuba.
Incredible. This botox-poisoned dim bulb is announcing to the world that she believes keeping the American people dependent on government is the right way to go.
Please, do not start the revolution without me.
I think that was Pelosi’s “Let them eat cake!” moment.
“I have made a pledge to only support conservative companies with the dollars I do spend (to the extent possible). Companies that give to both sides don’t count in my opinion.”
To a great extent, so have I.
Power-mad Democrats love depressions.
"Who said anything about nationalizin'? We're just . . . takin' over."
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