Pelosi Statement on Continued Negotiations on Legislation to Address Crisis in Financial Markets

"Good evening.  Last Thursday evening we came before you with Secretary of the Treasury Henry Paulson and Chairman of the Federal Reserve Ben Bernanke.  We stated to the American people that we, having heard their presentation of the financial crisis that our country was facing, understood the urgency to move as quickly as possible.

"It took until Saturday for Congress to receive the Administration's written proposal.  Since then, we've all been engaged in bipartisan conversations, conversations between the Legislative Branch and the Executive Branch, to move in a direction that will give confidence to the markets that this legislation will pass and it will pass soon.

"Our quarterback in all of this is the Chairman of the Financial Services Committee, Congressman Barney Frank.  He has briefed us all on the status of those conversations, if not negotiations.  Again, I reiterate the commitment of the Democrats in the House to work in a bipartisan way with our Republican colleagues and we've been having conversations with them over the weekend to pass legislation, to instill confidence in the markets, but most importantly, to protect the American people -- to insulate Main Street from the crisis on Wall Street.  To protect the interests of America's families as they sit down at their tables tonight to understand that we are acting on their behalf.

"With that I'm pleased to yield to the distinguished chairman of the Financial Services Committee, Barney Frank."