Sarah Palin: Institutionalizing Crony Capitalism
Posted by Jim Hoft on Friday, April 23, 2010, 4:41 AM
This was an excellent report on the Democrat’s banking bailout bill that they are hoping to ram through Congress. The former Alaska Governor breaks down the far left’s latest piece of radical legislation.
From Sarah Palin’s Facebook page:
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
ADVERTISEMENT
-
Featured Story:
Busted!… Obama Headlined a DEMOCRAT SOCIALISTS OF AMERICA Event in 1996 **FLIER**
Published May 24, 2012 at 8:46 pm - 86 Comments
Militant Conservative commented:
Sahra is every bit as sharp as Rush and just as hated.
Thier both correct and conservatives. This is why the left hates these two. Barry is an unpatriotic colonial raider tyrant with Narcissist flaws. Follow him at your peril. Deceit and lies is all you’ll get ot of this administration. powder is dry.
Mats commented:
Citizen Armed with Truth – 10
Socialist Armed with nada – 0
Betsy Ross commented:
I just love how the dems are now suddenly all for “Wall Street Welfare” and are ready to protect “Big Business” from failing. Notice how they could care less about the “little guy” who is left holding the bag to bail out Big Government and Big Business but won’t have any money left to buy a loaf a bread….
seven commented:
We could have used her for some house cleaning. Now it looks like it is getting dirtier by the day.
How can a totalitarian regime keep their filthy hands off the banking industry?
MochaLite commented:
Agree, but I would call it Crony Socialism!
Carbon Monoxide commented:
We are living in the novel, “Atlas Shrugged”.
If you have not read it, you need to.
Britny commented:
Sarah Palin: Institutionalizing Crony Capitalism!!!
Go Sarah!!!
★ Palin 2012! ★ !2102 nilaP ★ Palin 2012! ★ !2102 nilaP ★ Palin 2012! ★
bill-tb commented:
So the AP’s regime zombies want to be on record, after the fact. My that’s helpful to your remaining two readers AP…
Opus #6 commented:
The TARP funds and banking control they got last year must not have been enough for them. I just can’t understand why our Marxist-In-Chief wants to control all of America’s banking, and all of our money. {sarcasm}
ProLifer commented:
Smart enough to govern? You betcha!
Worthy of our trust? I believe so.
Sarah Palin is the Anti-Obama –
a ProLife Conservative who loves God and country.
May God bless her and keep her safe, I pray.
Andreas K. commented:
“too-big-to-fail” must be one of the most retarded ideas ever.
It’s not working anyway.
Take the USSR. Everything was nationalized, everything was under central control. It was bigger than BIG.
But it failed.
Catastrophically.
Sojourner commented:
Our conservative angel nails it again.. Gerald O’Driscoll wrote an excellent piece in WSJ that expands on her exact point:
…”When government and business collude, it’s called crony capitalism. Expect more of this from the financial reforms contemplated in
Washington.”
An Economy of Liars
http://online.wsj.com/article/SB10001424052748704508904575192430373566758.html?mod=djemBestOfTheWeb_h
…(Bibi should invite Sarah Palin over to Israel for a private meeting. No press, no cameras, just him and Sarah.. then, watch Obama’s head explode!)
aprilnovember811 commented:
Sarah, please run for President. We need someone CLEAN!
Moright commented:
Go Sarah! Same difference with the effort on labeling laws: big food conglomerates have the resources to meet changes the government (in concert w/the companies), require. Small companies can be forced out with the capital investment required. Win win for big guys!
DKN commented:
The Obama Administration: Unions and corporations in a symbiotic relationship with a government dedicated to the “…fundamental transformation of America”. In this context isn’t “Crony Capitalism”, just another term for “Fascism”?
wanumba commented:
Palin knows these critters and their habits very well. It was just the sort of too cozy relationship she busted up with the oil corporations in Alaska.
Sojourner commented:
dkn/#14..isn’t crony captialism = facism?
yep.. “The fascist bargain goes something like this. The state says to the industrialist, ‘You may stay in business and own your factories. In the spirit of cooperation and unity, we will even guarantee you profits and a lack of serious competition. In exchange, we expect you to agree with — and help implement — our political agenda.’” — Jonah Goldberg’s “Liberal Fascism”
(sounds familiar, huh?)
bigkahuna commented:
Gotta love Sarah. She drives the left crazy ..Thats the best part. I would love to see her debate him and at the end say You know Mr President, what you will be after 4 years in office ? …. Still pitifully unqualified for office !
archer52 commented:
I just finished my common man’s explanation of the “crap and trade” scam. It involves all of what Palin is talking about. The upper elites bouncing back and forth between private and public positions.
http://truthandcommonsense.com/2010/04/23/the-crap-explanation-of-cap-and-trade-medieveal-kings-revisited/
Sooner or later they are going to draw blood from the sheep because they are shearing too close. (that sheep being you and me) The question is do we wait until we fell the nick or do we stop them earlier.
Read the book.
DANEgerus commented:
The Obama administration is closely linked to Goldman Sachs through the exchange of advisers, money, and promises of Government preferences. Remember that Goldman Sachs will run the Cap & Trade “Carbon Exchange” and rake in Billions in Tax-Payer dollars. Goldman Sachs has already gotten $10,000,000,000 in TARP funds… even though they are not a bank and were not in trouble.