Blunt Backs Off Pelosi, Looks To Local Banks For Support

In an interview with ABC's Nightline Monday, Congressman Roy Blunt backed off the assertion that an overly partisan floor speech by Speaker Nancy Pelosi cost the $700 billion dollar bailout deal 12 Republican votes.

"We clearly had some members that were there, but were precariously there. Now one or two of them may have been affected by the Speaker's speech," Blunt told ABC's Jake Tapper.

Tapper also reported that Blunt believes one of the problems was that few in Washington or on Wall Street seemed to understand that "the American people themselves" actually had to be convinced that this was a good thing for them in order for their elected representatives to vote for it.

"At some point, it helps a lot if there's a real credit crisis in the country, if local banks start calling their Congressmen and say, 'Well, it's finally gotten here. We now feel the pinch,'" Blunt said.