After trashing the President, the administration and the Republican party on the floor of the House yesterday, the Speaker is rethinking her position. She’s decided to play nice:

Dear Mr. President:

Yesterday’s defeat of the Economic Emergency Stabilization Act resulted in additional severe economic impacts both on Wall Street and on Main Street. The consequences of yesterday’s vote – an historic drop in the stock market and the loss of $1.2 trillion in savings, investments, and retirement funds – had a major impact on American families, small businesses, and others that demonstrated the imperative for Congressional action.

We have already made much progress in improving the plan originally sent to Congress. After many days of discussions, we reached bipartisan agreement on key additions, including strong measures to protect taxpayers from the costs of this program; to impose tough accountability on Wall Street through strong oversight and transparency; to limit excessive executive compensation and golden parachutes; to reduce home foreclosures to help families remain in their homes; and to sequence the funding of the program to ensure appropriate cost controls and independent reviews.

Read the rest. Maybe we can guess her next move before she makes it.

Sorry, I have no kind words for the Speaker of the House. She has proven herself arrogant and untrustworthy as the Karl Rove interview of yesterday aptly points out.

If the Democrats remain in control of the House following the November election they should consider a challenge and attempt to replace Ms. Pelosi. Not only Congress but the country would be better for it.