Pelosi Attacks Bush, Praises Clinton

This is INCREDIBLE. Pelosi can't resist blaming the "Bush" policy's for something he didn't cause. Federal spending didn't cause this, and the recession actually started when Clinton was sill in the Whitehouse, Bush didn't inherit surpluses, he inherited a burst "dot com" bubble. Clinton did NOT cause the dot-com bust, and Bush did not cause this one. This was cause by the "sub-prime" mortgage lending, and it was liberals in Washington that insisted on lending to people that couldn't afford houses, and they told Fanny Mae and Freddie Mac to do just that. Then the real estate bubble hit (again not caused by anyone in DC) and home values got unreasonable. However there was still a "lend to anyone" mentality. So now we have a lot of foreclosures on loans given to people that shouldn't have had one, on a home that was unrealistically overpriced. This led to a lot of bad debt being traded and whoever got stuck holding the "hot-potato" when the music stopped is in serious trouble. And just how did Bush cause all of this?

I agree then needs to be some more regulation in how mortgage backed securities are packaged and bought and sold. But that doesn't need to be in this bill. This bill just needs someway for the federal government to buy these assets and then deal with them.

Regardless, this speech is poor leadership right before a "must pass" bill.