October 1, 2008
That's right
gentlemen, blame it all on Nancy Pelosi's sharply partisan
speech. Did Mommy hurt your feelings? Well, too
bad guys, this is tough stuff. The economy is going down the
tubes.
The whining from the Republicans on Monday that Speaker Nancy
Pelosi's speech felt more like a Democratic fundraising rant
and less like a bi-partisan effort to persuade all involved to
sign the dreaded $700 billion bailout into legislation, was
quite disheartening.
Of
course, no single party is to blame for the unraveling of our
US economy, but none of us "little guys" want to hear that
your feelings were hurt when our credit, jobs, houses and
401K's are about to go pouf.
To me, Pelosi's speech felt very motherly, and unfortunately,
for the Republicans, very "I told you so." But, the
ladies love to say "I told you so." It's in our genes.
Congress needs to suck this kind of rhetoric up, I mean what
did they expect? Pelosi is angry, and rightfully so. This
downturn has been cooking for some time. Each party is going
to blame the other, there is no way Democrats or Republicans
can be forced to shoulder the entire responsibility for this
disaster.
The lack of leadership around this kind of fundamental
political and economic decision-making is spectacular, and not
in a good way. To have discovered mid-afternoon that the
bailout legislation did not get enough votes to pass was
surreal. Everyone kind of braced themselves for an
instant depression. I quickly checked my money market account
and savings, preparing for the worst. Things looked the same,
at least for the time being. Then, I looked out my office
window on the 17th floor near Wall Street to see if I saw
anyone flinging themselves out of the window.
Fortunately, nothing. Nothing yet, anyway.
So, was it harder for Congress to accept this tongue lashing
from a woman? Was her manner ungracious, possibly a bit
bitchy? Well, she didn't lie, that's for sure. Speaker
Pelosi has had her ups and downs this political season,
sometimes seeming less forthright than yesterday on the floor.
Her directness and lack of pandering was much appreciated.
Let's get this legislation signed.