The facts are this: Nancy Pelosi, our wonderfully incompetent and cowardly Speaker of the House having the power and votes lined up to pass any bailout legislation that she chooses, continues to delay. She could have rammed Paulson's first plan through the House on the same day they received the three-page proposal. She doesn't need those pesky House Republicans votes to ensure passage; she already has the required votes. Those House Republicans cannot do a damn thing to stop her if she chooses.
Once it passes the House, experts agree that it will fly through the Senate into the waiting arms of President Bush, who will instantly sign it.
So why doesn't Mrs. Pelosi pass the legislation that she says, "has to happen."?
So if it "has to happen", why can't Pelosi pull the trigger? Public sentiment, of course, is the reason.
From the various congressional aides that have spoke to the media; the phone calls, faxes and emails are running 99-1 against this bailout plan; and in other surveys taken recently, almost 60% of all respondents are against ANY form of a bailout, no matter the details, updates or "protections to the taxpayer" etc etc.
The volume of public outcry measured in those calls and emails is putting extreme heat on those legislators (especially 5 weeks from an election). But make no mistake, it's a truly organic and grass roots type of feedback that Congress is hearing. Congress knows the difference between a run-of-the-mill fax/email blast campaign orchestrated by some lobby group and the geniune one they are seeing here all last week.
Mrs. Pelosi understands that if she passes this wildly unpopular bailout scheme, with no agreement from a large block of House Republicans, that the legislation will be blamed on her and her Democrats, who hold majority - just 5 weeks out from an election.
Nancy Pelosi is absent of any conscience or duty to the American People - and in the end only cares about keeping her job and her majority, to hell with everyone else.
Ironically, by Pelosi selfishly trying to protect her (political) ass - she is accidentally helping to protect the American Citizen from this $700 BILLION BOONDOGGLE.
KEEP THE LETTERS, FAXES & CALLS COMING IN FOLKS! WE CAN STOP THIS!