• Most Popular
  • Most Shared

Pelosi urges bailout plan changes

WASHINGTON
Sun Sep 21, 2008 5:50pm EDT
House Speaker Nancy Pelosi speaks next to Federal Reserve Chairman Ben Bernanke (R) after meeting with Treasury Secretary Henry Paulson (2nd L), Senate Majority Leader Harry Reid (D-NV) (L) and other congressional leaders in the U.S. Capitol in Washington September 18, 2008. REUTERS/Mitch Dumke

WASHINGTON (Reuters) - House of Representatives Speaker Nancy Pelosi said on Sunday that the Bush administration's $700 billion bailout plan for Wall Street lacks "necessary safeguards" in several areas.

Barack Obama  |  Crisis in Credit

She said Congress will take action this week to protect taxpayers' interests and to ensure the plan includes "independent oversight, protections for homeowners and constraints on excessive executive compensation."

The California Democrat said in a statement: "We will not simply hand over a $700 billion blank check to Wall Street and hope for a better outcome. Democrats will act responsibly to insulate Main Street from Wall Street."

(Reporting by Kevin Drawbaugh; Editing by Gary Hill)
Barack Obama
Crisis in Credit


More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    PICTURES
    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    Oddly Enough
    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

    Global Markets