Thursday, September 25, 2008

The list for Profile in Courage Awards...

just got shorter.

House Speaker Nancy Pelosi takes her name out of the running by declaring that she won't support a bailout unless a significant number of House Republicans (who are of course in the minority in that chamber) vote for it:

House Speaker Nancy Pelosi is telling Democrats that she will not support President Bush’s $700 billion bailout of the financial sector unless there is significant Republican support for the controversial plan...The politics of the bailout are tricky and dangerous for both political parties...As a result, Pelosi (D-Calif.) has effectively sent the message that if she is going to jump off a cliff to rescue Wall Street, she wants House Minority Leader John Boehner (R-Ohio) and George W. Bush holding her hands when she leaps.

This may make sense politically. There will be a fair amount of political backlash for the bailout plan.

As I've stated below, however, there are good reasons to be skeptical. But whether Speaker Pelosi supports it should turn on something other than how much political cover she has, don't you think?

No comments: