Obamafinance - Palin: Institutionalizing Crony Capitalism, Soros: Go for it

Canada Free Press ^ | 4/24/2010 | Arlen Williams

[unspun]

Sarah Palin says it is "crony capitalism." Has a friend sent her latest Facebook essay to you in an email?

The hacks at Goldman Sachs say the password is "partner," as Governor Palin points out, below.

Ron Paul says "corporatism."

Yes, yes, and yes. And such fascistic, ministerial control is the initial structural focus of the neo-Marxist. It is Barack Obama's necessary step onto the treasonous road to a pseudo-democratic “dictatorship of the proletariat” and the unnatural and impossible communist dream of egalitarian collectivism. In this scheme, "too big to fail" is the excuse where that excuse may work, while the point is is that the few, large institutions should be consuming enough to afford control. over the entire market and eventually, the entire economy.

Institutionalizing Crony Capitalism

4/22/2010 at 9:28pm

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....

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Remainder of Sarah Palin's article, plus comments and link to Soros' essay on what he wants from Obamafinance toward the bottom of the article in Canada Free Press.

(Read it there and let them have a bit more ad revenue.)

[unspun]

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[fporretto]

It's not full-fledged "crony capitalism" as practiced in the Latin countries, but it's a big step in that direction. A firm deemed "too big to fail" by a government with unbounded power to bail such firms out has been told, in effect, that there's no such thing as too great a risk. That frees it to play all the longshots -- the gambles with the highest potential return. The Treasury will make good on its losses.

Of course, the most recently bailed-out companies include a couple that were coerced into robbing their stockholders and debt holders. That happens under a full crony-capitalist scheme sometimes, too. One way or another, when you deal with the Devil, the notes come due in brimstone.

Freedom, Wealth, and Peace,
Francis W. Porretto
Curmudgeon Emeritus of Eternity Road

[Soul of the South]

At the height of the financial crisis in 2008, the Republican Congress correctly rejected the Paulson/Bush bailout scheme. McCain foolishly suspended his campaign and flew back to Washington to help save the day. During that week, behind closed doors, Paulson and others somehow convinced the Republican House to reverse its vote and allow the bailout legislation to pass.
Conventional wisdom says the entire financial system would have collapsed had the bailout not passed. Certainly, the McCain campaign collapsed during that week.

Would the financial system have really collapsed? Possibly not. The S&L crisis of the early 1990’s did result in the closing of many insolvent financial institutions but did not result in the financial system collapsing.

What if the financial system had collapsed? We might actually be better off today. The speculators would have been wiped out. Average Americans would have been protected by FDIC insurance. The failed financial institutions would have been reorganized in the bankruptcy courts with some being liquidated. The financially sound institutions, who engaged in responsible business practices, would pick up market share. General Motors and Chrysler would have been downsized and reorganized in bankruptcy courts (like the airlines were in the 1990’s) instead of becoming wards of the state. Obama would be president but he would not have administrative control over the banking system and automotive industry.

Likely a full financial collapse would have impacted large corporations in bed with the government to a greater degree than mid and small size companies. Out of the ashes of a collapse could have come a revitalization of American capitalism without the cozy mutual beneficial relationships between big government and big corporations. Instead, with the bailouts we accelerated a rush to socialism and state ownership of the private sector.

[Russ]

The Republicans didn’t control the House in 2008.

[Arthur Wildfire! March]

Thank you for the ping, FRiend.

[Soul of the South]

True. Pelosi was speaker with a small Democrat majority. The House Republicans had enough votes, with a few Democrats, to defeat the bailout on the first round. I miss spoke.

[Arthur Wildfire! March]

Soros: Republic Enemy #1
http://www.canadafreepress.com/index.php/article/14700
“The main obstacle to a stable and just world order is the United States.”—George Soros

Soros also told “The Australian” that the world financial crisis was ”stimulating” and “in a way, the culmination of my life’s work.”

[Also referenced in monster ping...
http://www.freerepublic.com/focus/chat/2496737/posts?page=59#59]

[Arthur Wildfire! March]

Canada Free Press does it again!

Adding to Monster Ping:
http://www.freerepublic.com/focus/chat/2496737/posts

[Quix]

Thanks for the ping.

[Western Phil]

Americans know that we need reform

"reform" is the new buzzword for government takeover.

[unspun]

Bachus Asks Geithner…Again…To Explain Administration’s Plan For Bailout Authority
http://www.freerepublic.com/focus/bloggers/2500080/posts?page=2

[Mogollon]

The republican platform should include defunding and, eventually, rolling back all of 0bama’s bills.

[unspun]

The republican platform should include defunding and, eventually, rolling back all of 0bama’s bills.

List #1: Repeal and Replace

List #2: Repeal Only

List #3: Repeal That and More

[unspun]

It's not full-fledged "crony capitalism" as practiced in the Latin countries, but it's a big step in that direction.

Thank you for sharing your ken, Francis. The attitude of the neo-Marxist is to be whatever they must be, to advance their structural Marxofascist agenda, worldwide (preferably in nice, pseudodemocratic ways, of course). They appear more pervasive and coordinated (and intent upon America) than at any prior time in history.

[unspun]

What if the financial system had collapsed? We might actually be better off today....

Thank you for your perspicacity. I'm going to keep your comments as a quote, posted under the article, in Investigating Obama.

[Sun]

“The Republicans didn’t control the House in 2008.”

People need to be reminded of that.