Pelosi Gives Thumbs Down to Bailout Proposal

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In a statement Sunday, the House Speaker says the Bush administration’s proposed financial package “does not include the necessary safeguards.”

“Democrats believe a responsible solution should include independent oversight, protections for homeowners and constraints on excessive executive compensation.”

“We will not simply hand over a $700 billion blank check to Wall Street and hope for a better outcome.”

Read full statement.

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