Nancy Pelosi: “This resolution, this provides the framework to increase that, and all of those concerns are trumped by the contagion…”

“This resolution, this provides the framework to increase that, and all of those concerns are trumped by the contagion clause. Contagion, that is the spread of what will happen to the currencies in these countries, will have a terrible impact on workers in the United States. Mr. Speaker, I want to make one point very, very clearly. This is not a bailout, it is a loan. We get a credit, an asset for it. We are not bailing out, we are not giving money away. We are honoring our commitment. Even the staunchest critics of IMF say we need to do this replenishment now and then proceed with the reforms.”