The Politics of Averting Economic Disaster

Yesterday, NPR provided too much airtime to Speaker of the House, Nancy Pelosi.  The presumed topic was the mortgage crisis, turned financial crisis, looming as a global economic crisis.

Pelosi went on and on about who was to blame.  Not surprisingly, the perpetrators were all political adversaries.  As I recall, she explicitly exonerated herself from fault.  I see it a bit differently.  As Speaker of the House, she is in a leadership position and has a fiduciary responsibility towards such things.

When she grew tired of blaming George Bush, McCain, et al, she then decided to take shots at the rescue plan — even though she admitted that she was still studying its contents.

She seemed much more focused on pointing fingers and political expediency than on being part of the solution.

Only at the very end of the interview did she express confidence that a solution could be reached, but stressed that they would take their time.  I don’t think we have the luxury of time, but I don’t think she cares.  She seems intent on persisting in partisan politics and putting the best interests of her constituents — and the American people — on hold.

In sharp contrast, John McCain put his politics on hold to work towards a solution for his constituents — and the American people.  Although largely symbolic, it is a positive and refreshing attitude.

I have no doubt that a rescue plan will be implemented.  What I don’t know is how long it will take, how much it will cost, and how political it will be.  Based on Pelosi’s comments yesterday, I fear the worst.

What do you think? Please leave a comment!