At the kick-off event for the 2008 American Magazine Conference in San Francisco, Speaker of the House Nancy Pelosi opened the proceedings by telling the 400 magazine executives in attendance that she's a "addict of magazines."

"San Francisco is a magazine city," the California resident added.

Pelosi couldn't resist taking a few shots at the current administration, especially when discussing the failed shield law: "The shield law died in Senate because the administration didn't want the bill to go through. ... As soon as we have a new Congress and a new President, we will have a new shield law."

In her closing, Pelosi credited magazines with helping to keep America strong. "Thank you for the information," she said. "Thank you for the entertainment. Thanks you for the diversion. Thank you for the strengthening of our democracy you all provide."

After her initial remarks, the Speaker answered three questions from audience members, all about the bailout. We'll be posting a video of her answer shortly.