'Nuance' Nancy's crash

NY Post Editorial:

House Speaker Nancy Pelosi just couldn't control herself yesterday, savaging President Bush and blaming "right-wing ideology" as the sole cause of the nation's fiscal turmoil.

Whereupon bipartisan compromise legislation intended to resolve the nation's financial crisis went poof.

And then the stock market posted its single largest one-day point loss ever.

Not surprisingly, Pelosi and Democratic leaders like Barney Frank and Rahm Emanuel immediately blamed the GOP for the bill's defeat, asserting that Republicans had put their "hurt feelings" above the nation's interest.

Talk about putting lipstick on a . . . well, on a politician.

The fact is, 95 Democrats - 40 percent of the party's House membership - voted against the bill.

Pelosi - who allegedly controls the chamber - couldn't even deliver her own members. How humiliating is that?

Republicans at least had long-standing philosophical objections to a massive expansion of government power over the economy. And, frankly, Pelosi's boneheaded speech sure didn't help matters.

But what of her disloyal Democrats?

Clearly, they'd bought the demagogic rhetoric of people like Pelosi and Frank, that the $700 billion rescue plan constituted a "bailout of Wall Street."

...

I am not sure they bought any arguments other than the ones from constituents who were calling in opposed to the measure. That is the reason that Democrats were so desperate to have Republicans holding their hand as they jumped off the cliff.

What was really angering about Pelosi's speech was how dishonest it was. Here she was blaming Republicans for creating the mess because of deregulation when it was the Democrats who refused to regulate Fannie and Freddie that caused the problem. All of this raises the serious question of just why voters think Democrats can better handle this situation?

The only plausible answer is they have been misinformed.

The Republicans need to do a better job of focusing the media on how the Democrats covered up the mess at Fannie and Freddie and demanded that banks make bad loans.

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