Posted on 04/22/2010 7:44:07 PM PDT by Bigtigermike
In the wake of the recent financial meltdown, Americans know that we need reform. Not only have many individuals learned lessons about personal responsibility through this, but we’ve been able to engage in a discussion about government’s appropriate role.
The current debate over financial reform demonstrates what happens when political leaders react to a crisis with a raft of new regulations. First off, the people involved in writing government regulations are often lobbyists from the very industry that the new laws are supposed to regulate, and that’s been the case here. It should surprise no one that financial lobbyists are flocking to DC this week. Of course, the big players who can afford lobbyists work the regulations in their favor, while their smaller competitors are left out in the cold. The result here are regulations that institutionalize the “too big to fail” mentality.
Moreover, the financial reform bill gives regulators the power to pick winners and losers, institutionalizing their ability to decide “which firms to rescue or close, and which creditors to reward and how.” Does anyone doubt that firms with the most lobbyists and the biggest campaign donations will be the ones who get seats in the lifeboat? The president is trying to convince us that he’s taking on the Wall Street “fat cats,” but firms like Goldman Sachs are happy with federal regulation because, as one of their lobbyists recently stated, “We partner with regulators.”
They seem to have a nice relationship with the White House too. Goldman showered nearly a million dollars in campaign contributions on candidate Obama. In fact, J.P. Freire notes that President Obama received about seven times more money from Goldman than President Bush received from Enron. Of course, it’s not just the donations; it’s the revolving door. You’ll find the name Goldman Sachs on many an Obama administration résumé, including Rahm Emanuel’s and Tim Geithner’s chief of staff’s.
We need to be on our guard against such crony capitalism. We fought against distortion of the market in Alaska when we confronted “Big Oil,” or more specifically some of the players in the industry and in political office, who were taking the 49th state for a ride. My administration challenged lax rules that seemed to allow corruption, and we even challenged the largest corporation in the world at the time for not abiding by provisions in contracts it held with the state. When it came time to craft a plan for a natural gas pipeline, we insisted on transparency and a level playing field to insure fair competition. Our reforms helped reduce politicians’ ability to play favorites and helped clean up corruption. We set up stricter oversight offices and ushered through a bi-partisan ethics reform bill. Far from being against necessary reform, I embrace it.
Commonsense conservatives acknowledge the need for financial reform and believe that government can play an appropriate role in leveling the playing field and protecting “the dynamism of American capitalism without neglecting the government’s responsibility to protect the American public.” We’re listening closely to the reform discussion in Washington, and we know that government should not burden the market with unnecessary bureaucracy and distorted incentives, nor make a dangerous “too-big-to-fail” mentality the law of the land.
- Sarah Palin
((((((Palin Ping)))))
Sarah nails Obama AGAIN..I LOVE IT! And I love how she brought up how the Marxist In Chief got some big bucks from Goldman Sachs
We need to REDUCE the size of Gov’t, not REFORM Wallstreet. It’s the Govt’s Fannie Mae and Freddie Mac that got us into this mess. I’m sick and tired of those responsible (Barney Frank, Dodd, and their ilk) walking around all innocent while blaming everything on the private sector. GOVERNMENT is the problem and Barack “Hugo Chavez” Obama is worsening the problem.
exactly.....I know some of the Repubs in Congress came out this week about this....but the others have been silent, YOU CAN TAKE AWAY SOME OF THE OBAMA “I’M FOR THE LITTLE GUY” AWAY!!
Independents hate corruptions especially, we need more people screaming about this!!
Amen.
So.............where are the other republican “Leaders”?
R’s and D’s are both up to their eyeballs in Wall Street Campaign contributions otherwise known as bribes. We need to drain this swamp once and for all.
Exactly..which is why I say THROW THE BUMS OUT
Sarah is a threat to Obama and his Marxist agenda no matter what she decides to do. The same thing with the Tea Party which is why the media is so desperate to shut them up..the Tea Party and Sarah Palin are both HUGE threats to the progressive agenda and they know it
Sarah in the lead. Again. “Crony Capitalism” is going to be as huge as “Death Panels.” Go Sarah!
Hey Palin-haters. Suck it!
That’s one thing about Sarah that is unique, because of her unorthodox rise in politics she has not surrounded or had to rely on Special interest groups and Big business to get her where she needed to go
God Bless Her. She is using her microphone and thank God she is!!!! Could you just imagine if she did not chime in? She is a gift right now.
Must admit I’m surprised. I thought Duncan Hunter would take the lead on this issue. Or Ron Paul. Or Mitt Romney. Or Newt Gingrich. Or Jim De Dint. Or Haley Barbour. Or ...
Exactly..her hands are clean. One reason why I am glad she never ran for Senate, when you go to Washington, your hands get dirty, you become corrupt(Not all but many) but I think when Sarah becomes President(Or member of the Republican Administration) she will help clean house..heck she is doing a pretty good job of exposing the corruption right now
That's it. Obama is putting into place a scheme to reward his buddies and punish his enemies. Corruption of immense proportions.
Sarah has talked about reducing the size of government and she did blame the government role for the Housing Market collapse.....she is just saying that governmnet has an “appropriate” role in reform not what Obama, Dodd and Frank are doing.....because really be honest, Goldman is getting away with a lot of things
Exactly why we adore her;
Exactly why they hate her.
The one great thing I love about Sarah is that she ask for no quarter and she gives no quarter. Plus she has guts and knows how and when to call a “spade a spade”! I am so sick of the Rinos. They remind me of a dog I once had. Every time another dog came into our yard, he would rollover, stick his paws straight up into the air and pee all over himself. I know all of the rinos have to reek of urine. I am just so sick of all of these cowards!!!!!
Sarah Palin: Institutionalizing “Crony Capitalism”
Damn shame the other Republicans can’t think to define Obama and his scheme in two words, isn’t it
GO SARAH!
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