Sarah Palin Information Blog

Sarah Palin Web Brigade

  • Upcoming Palin Events

  • Sarah Palin’s Endorsees

  • Sarah Palin Channel

  • Amazing America

  • The Undefeated

  • ‘Stars Earn Stripes’

  • ‘Game Change’ Lies Exposed

  • Good Tidings and Great Joy: Protecting the Heart of Christmas

  • Our Sarah: Made in Alaska

  • America by Heart: Reflections on Family, Faith, and Flag

  • Going Rogue: An American Life

  • Other Sarah Palin Info Sources

  • Login/RSS

  • Governor Palin on Twitter

  • @SarahPalinUSA

  • Governor Palin on Facebook

  • SarahPAC Notes

  • RSS SarahPAC Notes

    • An error has occurred; the feed is probably down. Try again later.
  • SPWB on Facebook

  • SPWB on Twitter

  • @SarahPalinLinks

    Error: Twitter did not respond. Please wait a few minutes and refresh this page.

  • Join the SPWB Twibe!

  • Posts by Date

    April 2010
    S M T W T F S
    « Mar   May »
     123
    45678910
    11121314151617
    18192021222324
    252627282930  
  • Categories

  • Archives

  • __________________________________________
  • Top Posts & Pages

  • __________________________________________
  • Recent Posts

  • Recent Comments

  • __________________________________________

Sarah Palin: Institutionalizing Crony Capitalism

Posted by Dr. Fay on April 23, 2010

Complete transcript of Governor Palin’s Facebook Note:

Institutionalizing Crony Capitalism

Yesterday at 10:28pm

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 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

Advertisements

One Response to “Sarah Palin: Institutionalizing Crony Capitalism”

  1. Nancy said

    You go Sarah we love you here in America. If we had more people in this country to stand up with good morals and knows the difference between right and wrong. How come no one is explaining the FEMA camps that are all over America. Why is the media not finding out what this is??? American people are being told these are hitler camps to put us all in. Have you seen them. We have some one needs to get this out and start coming against it.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

 
%d bloggers like this: