Nancy Pelosi blamed for industry bailout bill faliure

The Republicans are laying the blame solely at U.S. House of Representatives Speaker Nancy Pelosi, for the failure financial industry bailout bill. Pelosi remarks against President George W. Bush and his Republican party was bad timing.

U.S. House of Representatives Speaker Nancy Pelosi made her remarks to the full house just before the vote was set to take place, in her speech she slammed both Bush and the Republicans for “budgetary recklessness” and poor handling of the economy, this is what has lead to the current “chaos” in the financial system.

The $700 billion bailout bill of the Bush administration did not go through; already this has lead to panic in the markets. Congress is still in talks trying to come up with another solution. Once thing is certain, if something is not done soon, then we could be in for a long bumpy ride.

Read the full article at Reuters