Economic Stabilization Act

September 29, 2008 -- Washington, D.C. – Speaker Nancy Pelosi, Chairman Barney Frank of the House Financial Services Committee, and House Democratic leaders held a news conference this afternoon following the defeat of the Emergency Economic Stabilization Act of 2008. Below are her opening remarks:

“Good afternoon. As you know, about a week and a half ago, the Administration visited Capitol Hill and described the crisis in our financial markets and in our economy. A couple of days later, they presented us with their legislation, and since then we have worked in a bipartisan way to improve that legislation. We’ve entered into those conversations in the spirit of bipartisanship, with the understanding that each side would have half of our votes to pass the bill.    » read more »

September 29, 2008 -- WASHINGTON, DC - Congressman Steny H. Hoyer (MD) released the following statement today following the House vote on the Emergency Economic Stabilization Act:

"We will continue to work around the clock in a bipartisan manner to forge a solution to the serious threat confronting the economic security of millions of American families.

"At this time, the House is scheduled to meet at noon on Thursday.

"However, whether the House will consider legislation regarding the economic crisis has not been determined."

Source: Congressman Steny H. Hoyer