'This Week' Transcript: Nancy Pelosi

STEPHANOPOULOS: The crisis in America's financial institutions is not abating, either. And administration officials have signaled that they might need billions more from the Congress to direct to the banks. Are you open to that?

PELOSI: I'm open to resolving the financial crisis in our country. Whatever we have to do will have to be clearly explained to Congress and to the American people as to what the purpose of the money is, why it is urgent, and then accountability for it as it is distributed. if they come back there's going to have to be a justification because people will be very, very disappointed in how his money was dealt with at first.

STEPHANOPOULOS: And many analysts have looked at it and said the only way to really deal with it, these banks are so close to insolvency, dealing with so many toxic assets, that the only way to deal with it fairly without giving a big boon to shareholders, is to have nationalization or partial nationalization of the banks.

Good idea?

PELOSI: Well, whatever you want to call it. There has to be - if we are going to put money into the banks we certainly want equity for the American people.

In other words, if we are strengthening them then the American people should get some of the upside of that strengthening. Some people call that nationalization. I'm not talking about total ownership but we're just saying.

Now how big that investment becomes is - would we have ever thought we would see the day when we'd be using that terminology? Nationalization of the banks.

You see the impact it has on the stock market. Just terrible in terms of the bank stocks going down. Because if you're a shareholder and you see what would be a dilution of your investment because now the federal government - if we're putting - if the taxpayer is putting money up, the taxpayer should have equity.

STEPHANOPOULOS: So it might be necessary?

PELOSI: Well, not by the terminology that you use but some increased investment. Change has to happen in terms of what is done, what the transparency of it is, what the accountability of it is. Only then would be able to pass any additional funding.

STEPHANOPOULOS: We also saw some change from President Obama this week in the way the United States is going to prosecute the war on terror, closing down Guantanamo. He says that's his goal.

your Republican colleagues here in the House say it is irresponsible to commit to that until you have figured out what to do with those detainees, especially that troubled group that is too dangerous to let go, but you may not be able to try them because of tainted evidence.

PELOSI: If you look very carefully at what President Obama did this week, it was really brilliant. That's why he was surrounded by so many people from our military, retirees who have our national security as their top priority -- as we all do. It's our first responsibility to protect the American people, as elected officials. And what the president puts forth was very wise. He said he's going to close Guantanamo, take the time to do it. You can't just go down there today and say, everybody out and lock the door. They're going to review the cases, narrow it down, and then go from there.

But it -- for those of us -- you know, I've spent a long time in the intelligence side of things in the Congress, I'm the longest-serving person, in fact, on the Intelligence Committee in the House. And it is -- it's brilliant.

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