San Francisco – Democratic Leader Nancy Pelosi released the following statement today to mark the fifth anniversary of the 2008 financial crisis:
“Five years ago, the American people were facing the worst economic crisis since the Great Depression. From plummeting stocks to skyrocketing deficits to the loss of millions of jobs, our economy required swift and immediate action to stabilize our markets, restore our middle class, and put our country on the path to recovery and growth.
“Democrats led the response to the crisis and, working with President Obama, took necessary steps to bring our economy back from the brink. Today, we can see the results: taxpayers have seen their investments in rescued banks repaid and workers have seen 42 straight months of private-sector job growth. America’s auto industry is leading the world again. And the Consumer Financial Protection Bureau now protects consumers from the kinds of abuses in the financial marketplace that led to the crisis in the first place.
“While we’ve made significant progress in five years, much work remains to help hardworking Americans who are still struggling to find solid ground. Rather than manufacture another crisis – rather than threaten to hold the full faith and credit of the United States hostage once again – Republicans should join Democrats in advancing policies that invest in job creation, strengthen the middle class, build a strong economy, and secure a bright and boundless future for every American.”