Pelosi urges bipartisan approach to bailout

Speaker of the House Nancy Pelosi (D-CA) listens to questions during a news conference about the failure of a bill to provide a bailout for the current financial and banking crisis on Capitol Hill in Washington, September 29, 2008. REUTERS/Jim Young

WASHINGTON (Reuters) - House of Representatives Speaker Nancy Pelosi said on Monday that she was prepared to work in a bipartisan way with Republicans to get financial bailout legislation approved.

Pelosi, a Democrat, also told reporters she spoke to Treasury Secretary Henry Paulson soon after a $700 billion bill to jump-start stalled capital markets was rejected by the House in a vote of 228-205.

Rep. Barney Frank, a Massachusetts Democrat, called for “better coordination on the Republican side” to get the legislation passed.

“I think they are covering up the embarrassment of not having the votes,” Frank said, referring to Republican leaders, who blamed Pelosi for injecting partisanship into the issue.