Pelosi: Bush Admin Barred Officials From Briefing Congress On... Financial Crisis in Fall 2008

[babylonsister]

:wow::wow::wow:


Pelosi: Bush Admin Barred Officials From Briefing Congress On Impending Financial Crisis in Fall 2008
Brian Beutler | May 3, 2010, 2:39PM


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.

more...

http://tpmdc.talkingpointsmemo.com/2010/05/pelosi-bush-administration-barred-officials-from-asking-congress-for-financial-sector-bailouts.php?ref=fpa

[SpiralHawk]

1. "Finances, my speciality. Smirk." - xCommander AWOL (R)

[Octafish]

9. Horticulture*

Know your BFEE: Phil Gramm, the Meyer Lansky of the War Party, Set-Up the Biggest Bank Heist Ever.

* What Dorothy Parker said.

[SpiralHawk]

12. Great article, Octafish

Thanks for posting the link. The Republicons soooo screwed America.

[sakabatou]

2. The * admin... So fucked up you don't think it's real

[Blue Owl]

3. That's one heckuva Decision Point

Now watch this drive.

Heh heh heh, heh heh heh...

[marshall]

4. Well, if Bush did it, then by all means carry on Madame Speaker!

It's business as usual.

[aquart]

5. Another impeachable offense we don't bother about.

[global1]

6. I Suppose This Is "Off The Table" Too........nt

[glitch]

10. I still think we should test the theory of impeachment ex post facto.

IMO never too late. And it might pre-empt the equally evil but allegedly smarter younger brother.

[State the Obvious]

7. My "hopeful cynicism" has resurfaced again.

I AM hopeful that someday Bush-Cheney will be held accountable......but......

I also think "little-noticed statements to reporters" will remain just that.....little-noticed (on purpose). :shrug:

[rfranklin]

8. It was a premeditated robbery...

The tip off was that Paulsen changed his mind on what was to be done after he had his hands on the money. They had figured out a better way to channel the money to their pals at Goldman Sachs.

[laughingliberal]

11. +1000 nt

[SpiralHawk]

13. +10,000

eom