Pelosi: Bush Knew

This dovetails nicely with my theory that the Republicans knew it was so bad, they didn’t even try to steal the election:

Nearly two years after the Wall Street meltdown drove the U.S. economy to the brink of collapse, and forced the U.S. government to prop up major financial institutions with hundreds of billions of dollars, House Speaker Nancy Pelosi now claims that the Bush Administration prohibited its own top officials who were handling the emerging crisis from briefing Congress until a complete financial collapse was only hours away.

In little-noticed statements to reporters over the last few weeks, Pelosi has alleged that the Bush administration knew well in advance of its intervention that the financial crisis would hit, and that Congress would need to authorize a historic and unpopular bailout – but that top officials, including then-Treasury Secretary Henry Paulson, told her that they had been barred from briefing Congress about true extent of the crisis.

If accurate, the allegation could constitute a major indictment of the Bush administration, which may have worsened the crisis and resulting economic fallout by delaying the call for congressional action. Pelosi says the admissions from Bush administration officials that they had kept Congress in the dark came in private conversations between her and those officials in person and by phone. None of the other parties to those conversations would comment for this story. Nor is it clear if the Administration’s alleged decision not to brief Congress earlier was a calculated strategy to avoid spooking the already shaky financial markets thus hastening the crisis or, as Pelosi suggests, a political calculation in advance of the 2008 presidential elections, or a combination of the two.

During her weekly press conference on April 15, a reporter asked Pelosi a seemingly innocuous question about taxes. Pelosi prefaced her response with a fairly standard litany: explaining the dire state of the U.S. economy inherited by President Obama and setting the blame at the foot of the Bush administration. But she also added this: “When accepted the nomination in Colorado, the Administration had kept from the public the idea that, in a matter of weeks, the financial community would be in crisis, and we would need to pass the TARP legislation.”

7 thoughts on “Pelosi: Bush Knew

  1. Of course, they knew. Everyone with a lick of common sense knew. They didn’t want a Republican in the White House, so they ran McCain with $80 million in public financing against Obama’s $600m war chest. In return for getting the presidency, the Obama camp has left the Bushes and Wall Street alone.

  2. I’m shocked.

    Has anyone else noticed the weirdly wrong syntax from Pelosi: “When accepted the nomination in Colorado, the Administration had kept….”

    “When accepted”? Isn’t the subject of the sentence missing, like who did the accepting? Who would that be…

  3. Obama accepted the nomination sorta the same way Napoleon accepted coronation.

  4. Aw, hell, it was part of their plan! Susan, you’ve correctly called bullshit more times than most of the people I’ve read in the last ten years… and I bet you were like me in 2000… looking forward to 8 years of Bush destroying the economy and handing the mess off to the first Democratic sucker with an ambition problem…

    How many times did you hear Bush bellow out:

    “We’ve got plenty of liguidity!!!”

    Plenty of liquidity to pour into the trousers of the already wealthy…

  5. Today is November 4, 2010. And now we know what 92% of all Americans think of Nancy Pelosi. You people who have sponsored Pelosi during the meltdown of America have sponsored a person who has done as much to tear down America as Adolph Hitler and Osama BinLadin. Pelosi was fond of employing the term “indictment” versus the Honorable George W. Bush. Now then: Where to hide?

  6. Actually, no. I know what Americans presented with a steady stream of lies and character assassination aimed at Nancy Pelosi think they know about her. Apparently you’re one of those people! You might want to do a little more reading, somewhere other than right-wing sites. (Oh, and you might want to check those numbers? 92%? LOL)

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