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Pelosi Says Republican Bill Is 'Blackmail' For Wall Street Coverage

Pelosi, an often loud supporter of the president, pushed back when the White House announced support for the package.

I think Elizabeth Warren is having a positive effect on the Democratic leadership:

Nancy Pelosi is “disappointed” in Barack Obama for backing a bill she described as a form of “blackmail” on the part of Republicans.

The California Democrat objects to two provisions in the trillion dollar spending deal, including one that would roll back Dodd-Frank financial services reforms. She called the looming backdrop of a potential shutdown a form of blackmail.

Pelosi, an often loud supporter of the president, pushed back when the White House announced support for the package.

“I’m enormously disappointed that the White House feels that the only way they can get a bill is to go along with this. That would be the only reason I think they would say they would sign such a bill,” she said.

Pelosi also urged Democrats to block the bill, anyway.

“It is clear from this recess on the floor that the Republicans don’t have enough votes to pass the CRomnibus,” Pelosi wrote. “This increases our leverage to get two offensive provisions of the bill removed: the bank bailout and big money for campaigns provision.”

“We’re being asked to vote for a moral hazard. Why is this in an appropriations bill? Because it was the price to pay to get an appropriations bill,’ said Pelosi. She later added, “This is a ransom, this is blackmail. You don’t get a bill unless Wall Street gets its taxpayer coverage. It’s really so sad.”


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