Palin: End crony capitalism

posted at 10:55 am on April 23, 2010 by Ed Morrissey

In times gone by, the Democratic Party used to complain that the GOP was the party of “crony capitalism.”  These days, with the political connections of Goldman Sachs and other Wall Street firms to the Obama administration and to Democrats, the least that can be said is that the playing field has been leveled.  Both Republicans and Democrats spent hundreds of billions on bailouts of supposedly private corporations in 2008 and 2009, saddling American taxpayers with enormous debt while protecting big contributors from utter financial collapse.

Sarah Palin issued a rebuke to the entire practice of crony capitalism from her Facebook platform this morning, and demanded an end to the “too big to fail” mentality that results from it:

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. …

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.

Large firms like Goldman Sachs usually back regulation for a couple of rational reasons.  Regulation tends to favor the status quo, and since they already occupy a large position in the industry, Goldman Sachs would prefer to see that position institutionalized.  Because of their size, the compliance costs don’t impact them as much as they do with smaller competitors, making the smaller companies less of a threat.  Mostly, though, the large players usually get deeply involved in supporting the politicians in both parties that write the regulations, and that usually means the regulations wind up working for them than against them.

That’s the kind of crony capitalism about which Palin warns in her essay, and she saw it first hand in Alaska.  It creates firms that become “too big to fail,” not necessarily for economic reasons but for political reasons.  Excessively regulating industries to promote the interests of its largest players helps make those firms so large that their collapses would create outsized effects on the American economy.

In other words, if you want to end “too big to fail,” getting the endorsement of Goldman Sachs on regulatory changes is probably a counterindication rather than a good sign.

That isn’t to say that some regulatory changes shouldn’t be made.  The derivatives market went largely unsupervised in the years preceding the collapse, for instance, and better oversight is needed on that segment.  However, that was a secondary problem in the financial meltdown. The primary problem was the government intervention in the lending markets that created an irrational bubble in housing — driven by regulation that attempted to expand home ownership by indemnifying lenders against losses on marginal home loans.  That was also crony capitalism, making lenders big financial players and giving firms like Goldman Sachs opportunities to make billions on the junk bonds produced by the process.

We need rational and limited government oversight to ensure that investors don’t get defrauded out of their money.  What we don’t need is the continuation of government picking winners and losers in markets, if for no other reason than because the 2008 collapse showed just how bad it is at making those choices.


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My side is the non-stupid, pro-American conservative side. Your side is the portion of the republican party that has lesser IQ’s…. so, I guess you are right. We arent on the same side.

FlickeringFlame on April 23, 2010 at 12:43 PM

If your side is so smart, how come you can’t use the quote function at Hot Air correctly?

portlandon on April 23, 2010 at 12:46 PM

At this point Palin could write a Facebook post about how two plus two equals four, and her fans would about be ready to take it on par with the words of Jesus.

Dark-Star on April 23, 2010 at 11:21 AM

Two plus two does equal four, dummy.

Kensington on April 23, 2010 at 12:47 PM

Unfortunately all politicians are harlots.

Schadenfreude on April 23, 2010 at 12:48 PM

I’d love to understand why Bachmann doesn’t get the devotion Palin does. She’s got everything Palin has except that she is more articulate than Palin is. What gives? Does wardrobe and folksy talk really have that much political value? Or is it something different?

gocatholic on April 23, 2010 at 12:40 PM

Bachmann is a congresswoman one of 435. Palin was a govenor one of 50 and a VP canidate one of 2.

Palin also is working her butt off traveling across the country giving speeches, supporting her causes, writing a book and having a book tour.

Bachmann is working in the drudge pit of Congress where her voice and power is diluted. If Bachmann ever decides to give up her congress position and do the hard work Palin is doing then she will have the same sucess

unseen on April 23, 2010 at 12:50 PM

If only you could think, we would actually take you seriously…

lovingmyUSA on April 23, 2010 at 12:20 PM

What a powerful argument.

I’m clearly outmatched in charisma and intellect. -_-

The Calibur on April 23, 2010 at 12:50 PM

Some people see writings by people like Sarah, and the common sense of it makes them say “Well anyone could have wrote that”

No, “anyone could have WRITTEN that”. Sarah Palin wouldn’t have WRITTEN a mistake like that!

Steve Z on April 23, 2010 at 12:50 PM

FlickeringFlame on April 23, 2010 at 12:45 PM

I’m pretty sure she appeals to the same crowd. Most Palin-hating, tinfoil-hatted, nut jobs don’t like her either.

littleguy on April 23, 2010 at 12:50 PM

Palin’s post on the Army’s Dis-invite to Reverend Franklin Graham was very good as well.

portlandon on April 23, 2010 at 12:51 PM

Kinda makes you wonder where all the other “Einsteins” are?

littleguy on April 23, 2010 at 12:41 PM

Not in politics, for sure.

Dark-Star on April 23, 2010 at 12:51 PM

Two plus two does equal four, dummy.

Kensington on April 23, 2010 at 12:47 PM

Hear that whooshing sound? It’s the point going right over your head.

Dark-Star on April 23, 2010 at 12:52 PM

FlickeringFlame on April 23, 2010 at 12:43 PM

If it doesn’t matter if the President understands investment banking, and he wants to reform the industry, why do you think it matters if Sarah Palin understands investment banking?

ladyingray on April 23, 2010 at 12:52 PM

Who said this?

We are enemies of today’s capitalistic economic system for the exploitation of the economically weak,
With its unfair salaries, with its unseemly evaluation of a human being according to wealth and property instead of responsibility and performance,
And we are all determined to destroy this system under all conditions.

Chip on April 23, 2010 at 12:52 PM

Two plus two does equal four, dummy.

Kensington on April 23, 2010 at 12:47 PM

Not in Obama’s budget! Any number plus any number equals whatever Teh One wishes, and the Fed prints the money!

Steve Z on April 23, 2010 at 12:53 PM

This is a huge warning Sarah is giving. If we don’t understand that the corruption and the politics are going to be institutionalized and that eventually we’ll end up beholden to these big firms like Goldman or subsidizing greed( I think) we will lose the greatness if this country!

I love that Sarah is exposing the BS and sham Barry and crew are trying to pull with “financial regulation” quote when they create the “crisis” by indicting Goldman who practically lived in the WH while they cooked this up and now Barry the hypocrit goes out and pretends he trying to protect us against a group, who prior employees of, work for him? Thank you Sarah for exposing his nerve and his lies and his deception… Now will the GOP in Congress do something to stop this!

CCRWM on April 23, 2010 at 12:53 PM

The thing I enjoy most is that someone who is supposedly so dumb figured a way to totally circumvent MSM and has more people following her on Facebook than CNN has viewers.

bw222 on April 23, 2010 at 12:00 PM

Yeah…it takes a regular Einstein to figure out Facebook and repeat conservative talking points.

That’s as impressive as Obama’s TV stardom.

Obviously you aren’t a “regular Einstein” or you would see that there is no other figure on FB that affects NATIONAL POLICY, like Palin does…
And it also shows that you aren’t an Einstein when you repeat the same talking points of the other two trolls on here…all of you are using the key words “conservative talking points”, or “generic conservative talking points”

Dark-Star on April 23, 2010 at 12:38 PM

lovingmyUSA on April 23, 2010 at 12:54 PM

Not in politics, for sure.

Dark-Star on April 23, 2010 at 12:51 PM

+10

portlandon on April 23, 2010 at 12:54 PM

I take it you don’t believe in the ‘big tent’ idea?

Dark-Star on April 23, 2010 at 12:38 PM

Your part of the ‘big tent’ is over to the left in the swampy area by the latrine.

MB4 on April 23, 2010 at 12:54 PM

I’d love to understand why Bachmann doesn’t get the devotion Palin does. She’s got everything Palin has except that she is more articulate than Palin is. What gives? Does wardrobe and folksy talk really have that much political value? Or is it something different?

gocatholic on April 23, 2010 at 12:40 PM

I’ll back Bachmann any day of the week. Palin gets the devotion she does in part because people see themselves in her and they witnessed her maliciously brutalized in the media in a manner that defies all logical sense. The attacks on her became attacks on us, and we aren’t very happy with being attacked. It has continued with constant smears of her even to this day and has evolved into smears of racism and stupidity being thrown at a large number of Americans simply because they stopped being silent.

jimmy2shoes on April 23, 2010 at 12:54 PM

Does anyone here actually support Palin’s stance on big oil? In most other threads, most here are against windfall profit taxes, but when Palin did it, and brags about that stuff in this posting, we support it?

TheBlueSite on April 23, 2010 at 11:19 AM

Apparently, you are as ignorant as your writing makes you appear to be.

Oil in Alaska is the property of the people, not the State. It’s in the constitution. The State is merely the trustee for the people.

When the oil is sold, the profits must be given to the people. Crony politicians in the past kept the sale price low in exchange for love payments of either cash, benefits, or some such.

Sarah raised the amount of profit the people earned on the sale of the people’s property. It’s not a tax. It’s a royalty.

Now please show that you are merely ignorant by simply shutting your pie hole. Of course, I suspect that this is all political in which case your pie hole will continue to spew BS and smell funny.

platypus on April 23, 2010 at 11:34 AM

Thank you for setting out the facts about the unique situation Alaska has. I’m getting tired of people dissing Palin for the oil profits she distributed to the citizens of Alaska. It is clear that she only did what Alaska’s constitution required her to do.

KickandSwimMom on April 23, 2010 at 12:55 PM

Shoot–the one time I dont preview! Should read:

Yeah…it takes a regular Einstein to figure out Facebook and repeat conservative talking points.
Dark-Star on April 23, 2010 at 12:38 PM

That’s as impressive as Obama’s TV stardom.
Obviously you aren’t a “regular Einstein” or you would see that there is no other figure on FB that affects NATIONAL POLICY, like Palin does…
And it also shows that you aren’t an Einstein when you repeat the same talking points of the other two trolls on here…all of you are using the key words “conservative talking points”, or “generic conservative talking points”

lovingmyUSA on April 23, 2010 at 12:55 PM

Hear that whooshing sound? It’s the point going right over your head.

Dark-Star on April 23, 2010 at 12:52 PM

The point you made was that if Sarah Palin stated a simple truth, her supporters would probably act like it was true.

Clearly you were trying to make a different point, but that’s the point you made, Einstein.

Kensington on April 23, 2010 at 12:56 PM

Your part of the ‘big tent’ is over to the left in the swampy area by the latrine.

MB4 on April 23, 2010 at 12:54 PM

That ‘part’ of the ‘big tent’ is all the right-wing cr*p being spewed out of the wrong orfice.

Dark-Star on April 23, 2010 at 12:56 PM

The point I thought you made was that if Sarah Palin stated a simple truth, her supporters would probably act like it was true.

Kensington on April 23, 2010 at 12:56 PM

The point I was actually trying to make, and that you played too stupid to comprehend, was that anything said by Palin is practically taken as an astounding revelation/groundbreaking/amazing/etc.

Dark-Star on April 23, 2010 at 12:57 PM

If it doesn’t matter if the President understands investment banking, and he wants to reform the industry, why do you think it matters if Sarah Palin understands investment banking?

ladyingray on April 23, 2010 at 12:52 PM

Obama has proven to be unqualified to be POTUS. Same goes for Sarah.

Bachmann is a congresswoman one of 435. Palin was a half-term govenor who quit half way thru her one single term one of 50 and a VP canidate one of 2.

Palin also is working her butt off traveling across the country giving speeches half-witted cliches to dumb people, supporting her causes, writing a book and having a book tour.

unseen on April 23, 2010 at 12:50 PM

There, fixed it for you Mr. Unseen

FlickeringFlame on April 23, 2010 at 12:57 PM

. It is clear that she only did what Alaska’s constitution required her to do.

KickandSwimMom on April 23, 2010 at 12:55 PM

It is kind of refreshing to hear of politicians doing what their constitutions require of them, isn’t it?

What a low point we have come to in the country, when we MUST point out that a politician followed a Constitution.

portlandon on April 23, 2010 at 12:58 PM

Dark-Star on April 23, 2010 at 12:38 PM

you repeat the same talking points of the other two trolls on here…all of you are using the key words “conservative talking points”, or “generic conservative talking points”

lovingmyUSA on April 23, 2010 at 12:54 PM

Fleas could be taught to do most anything those three can do.

MB4 on April 23, 2010 at 12:58 PM

If only you could think, we would actually take you seriously…

lovingmyUSA on April 23, 2010 at 12:20 PM

What a powerful argument.

I’m clearly outmatched in charisma and intellect. -_-

The Calibur on April 23, 2010 at 12:50 PM

Mine was not an argument–it was simply a statement of fact -_-

lovingmyUSA on April 23, 2010 at 12:58 PM

Maybe the fact that she talks with proper English costs her support with the more retarded portion of the party like the Palin nuts.

FlickeringFlame on April 23, 2010 at 12:45 PM

Palin doesn’t have nuts, but then again, neither does Obama.

jimmy2shoes on April 23, 2010 at 12:58 PM

If your side is so smart, how come you can’t use the quote function at Hot Air correctly?

portlandon on April 23, 2010 at 12:46 PM

LOL good one.

the fact that people think Palin is stupid is one of the dumbest things I have ever seen. how they can imagine an accomplished women like Palin being an airhead is beyond stupid.

they act like anyone can be govenor, perfrom a nationwide book tour without a hitch, give speeches every day with out any major gaffs, make $12 million in 9 months. Do they understand the decisions Palin had to make, the people she had to manage, and the process of critcal thinking she has to do everyday to accomplish those things?

If it was easy for any “stupid” person to do it. There would be tons of multimillionare ex govenors touring the country giving speeches to sellout crowds.

unseen on April 23, 2010 at 12:59 PM

Yes, I have an MBA and I work with I Bankers on the corporate lending side.

I have an MBA myself, but don’t understand the derivatives’ market that well.
Banks have no business lending corporations money on the basis of synthetic mortgage-backed default swaps, though, so I can’t imagine why you think your “special knowledge” qualifies your financial superiority to others.
It sounds like glorified betting to me!

All Sarah and I and the rest of us need to know is that Goldman is getting very preferential treatment by the White House, making record profits and driving its competition out of business.

Does Barack? I dont know if he does or not. Not sure it matters.

If it doesn’t matter if Barack knows about it, it doesn’t matter if Sarah knows about it.

Mitt Romney definitely would understand it as would other highly intelligent people who have worked for blue chip consulting and/or investment banking firms.

Well, Mitt Romney isn’t saying squat.
He must think it’s OK.
I forgot you were a Mittbot!

My side is the non-stupid, pro-American conservative side. Your side is the portion of the republican party that has lesser IQ’s…. so, I guess you are right. We arent on the same side.

FlickeringFlame on April 23, 2010 at 12:43 PM

I’ll put my IQ and my Mensa certificate up against yours any day, FlamingFloyd!

Jenfidel on April 23, 2010 at 1:00 PM

lovingmyUSA on April 23, 2010 at 12:58 PM

With no reasoning or presentation of evidence, which wasn’t exactly surprising.

The Calibur on April 23, 2010 at 1:00 PM

I’d love to understand why Bachmann doesn’t get the devotion Palin does. She’s got everything Palin has except that she is more articulate than Palin is. What gives? Does wardrobe and folksy talk really have that much political value? Or is it something different?

While Bachmann may be a good conservative I have never been impressed with her ability to explain or articulate solid conservative/capitalistic philosophy. She is shallow and kind of dippy. Palin I think does a much better job of getting to the heart of conservative principles, articulating them clearly and she has produced results as governor of Alaska.

jywill on April 23, 2010 at 1:01 PM

The fact that people think Obama is stupid is one of the dumbest things I have ever seen. how they can imagine an accomplished Harvard graduate like Obama being an airhead is beyond stupid.

They act like anyone can be senator, perform a nationwide campaign without a hitch, give speeches nearly every day with out any major gaffs, make nearly the entire nation crazy over him. Do they understand the decisions Obama had to make, the people he had to manage, and the process of critical thinking he has to do everyday to accomplish those things?

Now do you get it?!

Dark-Star on April 23, 2010 at 1:02 PM

I’ll put my IQ and my Mensa certificate up against yours any day, FlamingFloyd!

Jenfidel on April 23, 2010 at 1:00 PM

They told you that was a Mensa certificate??

Those nurses can be such jokesters!!!!

FlickeringFlame on April 23, 2010 at 1:03 PM

anything said by Palin is practically taken as an astounding revelation/groundbreaking/amazing/etc.

Dark-Star on April 23, 2010 at 12:57 PM

This is what makes you so sad?

littleguy on April 23, 2010 at 1:04 PM

The point I was actually trying to make, and that you played too stupid to comprehend, was that anything said by Palin is practically taken as an astounding revelation/groundbreaking/amazing/etc.

Dark-Star on April 23, 2010 at 12:57 PM

If that was your point, it’s pretty weak.

What we like about Sarah’s statements is that she is the informed, prescient and very vocal voice of the Loyal (Conservative) Opposition to the juggernaut of Obamunism, which is trying to roll over and crush this country!

Jenfidel on April 23, 2010 at 1:04 PM

There, fixed it for you Mr. Unseen

FlickeringFlame on April 23, 2010 at 12:57 PM

You are such a good fixer. And you always have kind words for every occasion.

half-witted cliches to dumb people,

Your side is the portion of the republican party that has lesser IQ’s

Maybe the fact that she talks with proper English costs her support with the more retarded portion of the party like the Palin nuts.

You represent the best that Mitt Romney has. You represent him VERY well. He is so proud.

portlandon on April 23, 2010 at 1:04 PM

It doesnt help our side when Sarah Palin comes out with a Facebook entry about an issue that she knows nothing about. Does anybody think she understands synthetic mortgage-backed default swaps which is what the Goldman Sachs issue is about?

FlickeringFlame on April 23, 2010 at 12:16 PM

My simple principle is that I’m not interested in what opinions are about people.

I pay attention to their actual statements, positions, etc.

That eliminates the usual political BS, which is nearly always about “My candidate is better than Yours.”

Oh really?

I’ve not seen much evidence to support THAT thinking lately.

AnninCA on April 23, 2010 at 1:04 PM

T

hey told you that was a Mensa certificate??

Those nurses can be such jokesters!!!!

FlickeringFlame on April 23, 2010 at 1:03 PM

Umm, no.
I took the test and passed it–I am indeed a bona fide member of Mensa.

Jenfidel on April 23, 2010 at 1:05 PM

Obama has proven to be unqualified to be POTUS. Same goes for Sarah.

FlickeringFlame on April 23, 2010 at 12:57 PM

Obama has proven to be unqualified to be POTUS. Palin, may or may not, ever get the chance to prove whether she is, or is not, unqualified to be POTUS.

MB4 on April 23, 2010 at 1:05 PM

While Bachmann may be a good conservative I have never been impressed with her ability to explain or articulate solid conservative/capitalistic philosophy. She is shallow and kind of dippy. Palin I think does a much better job of getting to the heart of conservative principles, articulating them clearly and she has produced results as governor of Alaska.

jywill on April 23, 2010 at 1:01 PM

POST OF THE YEAR!!!

Great job, man. Awesome!!! I bet there are people here who dont even get the brutal irony of your post. THAT WAS HILARIOUS!! Seriously, great job man.

FlickeringFlame on April 23, 2010 at 1:05 PM

There, fixed it for you Mr. Unseen

FlickeringFlame on April 23, 2010 at 12:57 PM

you make me laugh. you have know idea how stupid you sound do you?

unseen on April 23, 2010 at 1:06 PM

lovingmyUSA on April 23, 2010 at 12:58 PM
With no reasoning or presentation of evidence, which wasn’t exactly surprising.

The Calibur on April 23, 2010 at 1:00 PM

The Calibur on April 23, 2010 at 11:55 AM

I rest my case.

lovingmyUSA on April 23, 2010 at 1:06 PM

I took the test and passed it–I am indeed a bona fide member of Mensa.

Jenfidel on April 23, 2010 at 1:05 PM

Really? Wow, thats great. Which hospital, errrrr, which Mensa office provided you with your spelling, errrrr, Mensa test???

FlickeringFlame on April 23, 2010 at 1:07 PM

What informs me most about Palin antagonists is when they are unable to give credit where credit is due, which for her was with Alaskan oil rights.

That also applies to people who immediately hate anything Obama does.

That informs me. Those are people who are really personality-codependent types. They think it’s all about the “who” and not about the “what.”

I have no interest, as an Independent, in that type of thinking, from either side.

AnninCA on April 23, 2010 at 1:07 PM

Now do you get it?!

Dark-Star on April 23, 2010 at 1:02 PM

No.
As long as Maobama’s academic records are under seal, we have no idea how well he did at Harvard Law, Columbia or Occidental.
It’s obvious he flunked a lot of courses–his views and policies are grounded not in facts gleaned from scholarship, but from Black Liberation Theology learned from Rev. Jeremiah Wright and his Commie mentors like Frank Marshall Davis and his grandfather.

As far as the success of his campaign, none of that was due to his intellect, but rather to his darker skin and his $1 billion war chest.

Jenfidel on April 23, 2010 at 1:09 PM

They told you that was a Mensa certificate??

Those nurses can be such jokesters!!!!

FlickeringFlame on April 23, 2010 at 1:03 PM

Do they know you are out of your room and using their computer?

lovingmyUSA on April 23, 2010 at 1:10 PM

That also applies to people who immediately hate anything Obama does.

AnninCA on April 23, 2010 at 1:07 PM

I kinda liked what he did to the pirates. The rest, not so much.

littleguy on April 23, 2010 at 1:10 PM

Really? Wow, thats great. Which hospital, errrrr, which Mensa office provided you with your spelling, errrrr, Mensa test???

FlickeringFlame on April 23, 2010 at 1:07 PM

Mensa’s a national organization (maybe international), so it was the national office.
It’s been some time ago since I became a member, but I’m still a genius! LOL

Jenfidel on April 23, 2010 at 1:10 PM

My side is the non-stupid, pro-American conservative side. Your side is the portion of the republican party that has lesser IQ’s…. so, I guess you are right. We arent on the same side.
FlickeringFlame

There FF goes again, stroking its own intellect…sexist troll that it is thinking it is so much more enlightened for being a sexist troll. LOL!

JAM on April 23, 2010 at 1:10 PM

Dark-Star on April 23, 2010 at 12:57 PM

Hey, why did you misquote me?
I wrote this:

The point you made was that if Sarah Palin stated a simple truth, her supporters would probably act like it was true.

But you edited it to make it look like I wrote this:

The point I thought you made was that if Sarah Palin stated a simple truth, her supporters would probably act like it was true.

Sooo…why did you do that?

Kensington on April 23, 2010 at 1:11 PM

Jenfidel on April 23, 2010 at 1:05 PM

It’s jealous. It had to use a dictionary to spell the word…

lovingmyUSA on April 23, 2010 at 1:11 PM

Remember Goldman, Morgan Stanley and many other of the Wall street firms were FORCED to take the TARP money, as not to expose the weakest firms. That was a government decision. Now pundits act like we have a right to tell them what to do, to take control of them because they wanted our money. That’s a lie. The whole financial meltdown could have been managed in a much better way, but Bernanke is a fool and has proved that since the first day he was appointed and should have been forced to resign have his mishandling of simple interest rate policy announcements, not to mention policy, even before any hint of bank failure was out there.
No new regulations are needed, less are needed, and the government needs to get out of the way and stop causing these problems. The products these firms were dealing with are nothing individual investors ever invested in or had a need to understand. Don’t invest in what you don’t understand, unless the government gives a quasi guarantee, right?

jywill on April 23, 2010 at 1:13 PM

POST OF THE YEAR!!!

Great job, man. Awesome!!! I bet there are people here who dont even get the brutal irony of your post. THAT WAS HILARIOUS!! Seriously, great job man.

FlickeringFlame on April 23, 2010 at 1:05 PM

So easily amused, little one. Have a sucker, since that seems to be what you’re good at…

lovingmyUSA on April 23, 2010 at 1:13 PM

This is what makes you so sad?

littleguy on April 23, 2010 at 1:04 PM

That my countrymen are fawning over Palin in much the same manner as Obama? Try ‘sad and disgusted‘.

I don’t see how the 2012 elections can end well at this point.

Dark-Star on April 23, 2010 at 1:14 PM

The fact that people think Obama is stupid is one of the dumbest things I have ever seen. how they can imagine an accomplished Harvard graduate like Obama being an airhead is beyond stupid.

Dark-Star on April 23, 2010 at 1:02 PM

You can send an Indonesian 1mbecile to Harvard in an “affirmative action” slot but that doesn’t train him out of being an Indonesian 1mbecile, it just makes him a Harvard trained “affirmative action” Indonesian 1mbecile, much more dangerous.

MB4 on April 23, 2010 at 1:14 PM

My side is the non-stupid, pro-American conservative side. Your side is the portion of the republican party that has lesser IQ’s…. so, I guess you are right. We arent on the same side.
FlickeringFlame

When one spends most of one’s time telling others how much smarter they are they usually are not.

thomasaur on April 23, 2010 at 1:16 PM

The fact that people think Obama is stupid is one of the dumbest things I have ever seen. how they can imagine an accomplished Harvard graduate like Obama being an airhead is beyond stupid.

Dark-Star on April 23, 2010 at 1:02 PM

You can send an 1ndonesian 1mbecile to Harvard in an “@ffirmative @ction” slot but that doesn’t train him out of being an 1ndonesian 1mbecile, it just makes him a Harvard trained “@ffirmative @ction” 1ndonesian 1mbecile, much more dangerous.

MB4 on April 23, 2010 at 1:17 PM

That my countrymen are fawning over Palin in much the same manner as Obama? Try ’sad and disgusted‘.

Dark-Star on April 23, 2010 at 1:14 PM

We don’t “fawn” over Palin–She leads us in the fight to take back our country and to keep it the way our Founding Fathers intended it to be.
Our support for whatever she does has nothing to do with the empty messianic zealotry that got Maobama elected.

Jenfidel on April 23, 2010 at 1:18 PM

I don’t see how the 2012 elections can end well at this point.

Dark-Star on April 23, 2010 at 1:14 PM

Odd, your brethren keep telling us she doesn’t stand a chance. If so, what’s to worry?

littleguy on April 23, 2010 at 1:19 PM

That my countrymen are fawning over Palin in much the same manner as Obama? Try ’sad and disgusted‘.

I don’t see how the 2012 elections can end well at this point.

Dark-Star on April 23, 2010 at 1:14 PM

Thanks for your concern, but we still have a ways to go until the 2012 elections. And if any other republicans would have the b@lls to speak up, we would be all for him/her also. Palin is the one who remarked yesterday–therefore we are focused on her–not to mention that people pay attention to her.
Too bad your man Mitt is so silent…

lovingmyUSA on April 23, 2010 at 1:19 PM

lovingmyUSA on April 23, 2010 at 1:06 PM

How can I make this easy for you to understand? Sarah Palin endorses John McCain, who voted YES on TARP. That makes him either an idiot or a crook, and I tend to vote for neither. I would assume that Sarah supported the decision or wouldn’t have endorsed him again. I can think of not one issue that is more important than protecting our tax dollars from corporate welfare. Her previous actions in this sense makes her new position quite disingenuous. You not taking that seriously says a lot about your line of “thinking.”

The Calibur on April 23, 2010 at 1:22 PM

Too bad your man Mitt is so silent…

lovingmyUSAprojection on April 23, 2010 at 1:19 PM

Romney has been hopelessly linked to the Democr*ptic failure in his state; his chances are slim to none. I’d still vote for him if it came to him vs. Obama though.

Dark-Star on April 23, 2010 at 1:22 PM

My side is the non-stupid, pro-American conservative side. Your side is the portion of the republican party that has lesser IQ’s…. so, I guess you are right. We arent on the same side.
FlickeringFlame

Non-stupid…???Really, you used that word and this will convince us of your supposed intelligence?

lovingmyUSA on April 23, 2010 at 1:24 PM

It doesnt help our side when Sarah Palin comes out with a Facebook entry about an issue that she knows nothing about. Does anybody think she understands synthetic mortgage-backed default swaps which is what the Goldman Sachs issue is about?

FlickeringFlame on April 23, 2010 at 12:16 PM

She probably doesn’t know how to do brain surgery either but “Death Panels” totally changed the HealthScare debate that was about to be rammed before the end of August.

Fact of the matter is, Sarah comes down on the right side of most issues and is the ONLY one doing so ahead of the news cycle and without fear of “The Lying Won”.

The rest are following the parade hoping to see which way its gonna turn so they can hop in front!

dhunter on April 23, 2010 at 1:24 PM

The Calibur on April 23, 2010 at 1:22 PM

Never assume. Sarah Palin had a debt to repay. She repaid it. People with honor do that. Do you support Mitt? What side of the fence is he on today?

kingsjester on April 23, 2010 at 1:24 PM

How can I make this easy for you to understand? Sarah Palin endorses John McCain, who voted YES on TARP. I would assume that Sarah supported the decision or wouldn’t have endorsed him again.
The Calibur on April 23, 2010 at 1:22 PM

Palin endorsed McCain out of loyalty, gratitude and friendship, not because she shares his views on the issues (whatever those are, because I could never discern McCain’s position on the issues).
If you look, you won’t find any speeches from Sarah in the Fall of 2008 talking about passing TARP as a good thing.
TARP was passed by Republicans at the request of President Bush who was told that it was VITAL to pass it to keep the credit markets from completely freezing and melting down.

Jenfidel on April 23, 2010 at 1:25 PM

Meh, scratch a populist, find a progressive. But she is right about this. Government involvement in the private market ruins both.

spmat on April 23, 2010 at 1:25 PM

I’d still vote for him (Romney) if it came to him vs. Obama though.

Dark-Star on April 23, 2010 at 1:22 PM

Anyone would.

portlandon on April 23, 2010 at 1:26 PM

Dark-Star on April 23, 2010 at 1:22 PM

No projection, just using an example of one of the supposed voices in the Republican slate of possible presidential candidates, is NOT lending his voice.

lovingmyUSA on April 23, 2010 at 1:26 PM

Jenfidel on April 23, 2010 at 1:25 PM

Palin’s a Roosevelt Republican (TR, not FDR). Count on it.

spmat on April 23, 2010 at 1:27 PM

I’d still vote for him (Romney) if it came to him vs. Obama though.

Dark-Star on April 23, 2010 at 1:22 PM

Anyone would.

portlandon on April 23, 2010 at 1:26 PM

LOL–If Mittens is our candidate, we’ll probably lose unless Maobama screws up a whole lot more and becomes even more disliked-a lot more probable than Mitt winning the GOP nomination, though.

Jenfidel on April 23, 2010 at 1:28 PM

At this point Palin could write a Facebook post about how two plus two equals four, and her fans would about be ready to take it on par with the words of Jesus.

Dark-Star on April 23, 2010 at 11:21 AM

That is simply not true. At this point, you detractors simply won’t giver her her due. Her posts and articles are well written and quite to the point. She calls Obama to the carpet…something NO OTHER PERSON seems willing or able to do. But you all keep going back to the “she needs to learn more” blah blah blah. Could you please point to one part of this or any of her posts that you disagree with or one part that isn’t both articulate and accurate? The old tired LEFTY lines about her are wearing VERY thin. Bottom line: We don’t fall all over her every word..She just happens to be saying EXACTLY what we all believe….and any true conservatives who don’t see that she represents 90% of their views…and brings it right to Obama…isn’t being honest with themselves or the Hotair community.

Dan Pet on April 23, 2010 at 1:29 PM

You can send an 1ndonesian 1mbecile to Harvard in an “@ffirmative @ction” slot but that doesn’t train him out of being an 1ndonesian 1mbecile, it just makes him a Harvard trained “@ffirmative @ction” 1ndonesian 1mbecile, much more dangerous.

MB4 on April 23, 2010 at 1:17 PM

So you think a man that won the POTUS is stupid? He minght not be as smart as the MSM wants us to believe but he is more intelligent than most.

His worldview is wrong but his decisions based on that worldview are not based on stupidity. You do not get to the pinnacle of power by being “stupid”

He is wrong but bering wrong is not the same as being stupid.

unseen on April 23, 2010 at 1:30 PM

You know, the vitriol, attacks, name calling, etc. against those who seriously question Palin’s status as a brilliant politician (and idea seemingly held my many here) makes me wonder if the left isn’t right in part when they talk about hateful signs at the tea party rallies.

TheBlueSite on April 23, 2010 at 1:34 PM

LOL–If Mittens is our candidate, we’ll probably lose unless Maobama screws up a whole lot more and becomes even more disliked-a lot more probable than Mitt winning the GOP nomination, though.

Jenfidel on April 23, 2010 at 1:28 PM

I thought you said you were a genius?

You can send an 1ndonesian 1mbecile to Harvard in an “@ffirmative @ction” slot but that doesn’t train him out of being an 1ndonesian 1mbecile, it just makes him a Harvard trained “@ffirmative @ction” 1ndonesian 1mbecile, much more dangerous.

MB4 on April 23, 2010 at 1:17 PM

Whats up with the goofy spelling? Is this to avoid a filter? Naughty, naughty. You must be that Pink Floyd guy everybody keeps talking about.

FlickeringFlame on April 23, 2010 at 1:34 PM

Jenfidel on April 23, 2010 at 1:25 PM

“I think that the alarm has been heard, though, and there will be that greater oversight, again thanks to John McCain’s bipartisan efforts that he was so instrumental in bringing folks together over this past week, even suspending his own campaign to make sure he was putting excessive politics aside and putting the country first.”

-Sarah Palin, Joe Biden debate, McCain “putting country first” to vote for TARP

“The House of Representatives rejected a Bush-backed economic bailout plan in a vote in which two-thirds of Republicans voted no. The impression this made on the electorate was not helpful to our cause. Millions of Americans were poised to go bankrupt or lose their savings, and the perception was that Republicans had failed to respond.”

-Sarah Palin, Going Rogue (lol), Republicans balking at bailouts not helpful to Sarah’s cause

Really what more do you want?

The Calibur on April 23, 2010 at 1:35 PM

Palin is right on target with this essay. She hit the bulleye. In my view her reloading is working

georgealbert on April 23, 2010 at 1:35 PM

lovingmyUSA on April 23, 2010 at 1:06 PM

How can I make this easy for you to understand? Sarah Palin endorses John McCain, who voted YES on TARP. That makes him either an idiot or a crook, and I tend to vote for neither. I would assume that Sarah supported the decision or wouldn’t have endorsed him again. I can think of not one issue that is more important than protecting our tax dollars from corporate welfare. Her previous actions in this sense makes her new position quite disingenuous. You not taking that seriously says a lot about your line of “thinking.”

The Calibur on April 23, 2010 at 1:22 PM

Your “logic” is an excellent example of why there should be an intelligence exam to be able to vote. One-issue voters lack the ability to discern. That you would dismiss everything else Palin has accomplished and stood for, due to her sense of “honor”, shows that you have none.

lovingmyUSA on April 23, 2010 at 1:35 PM

The fact that people think Obama is stupid is one of the dumbest things I have ever seen. how they can imagine an accomplished Harvard graduate like Obama being an airhead is beyond stupid.

Dark-Star on April 23, 2010 at 1:02 PM

Can you prove Obama was “an accomplished Harvard graduate” or anything about his academic record?
And, does having a degree from an ivy league school really prove you are smart? I know plenty of PhDs who are really stupid in all aspects of life except for what they are trained in, and are completely unable to say “I don’t know”.
Seems like what we need is a well rounded common sense type of smart, with a wide variety of experience and empathy to lead, and assign the genius to specific narrow advisory roles.

jywill on April 23, 2010 at 1:37 PM

Your “logic” is an excellent example of why there should be an intelligence exam to be able to vote. One-issue voters lack the ability to discern.

lovingmyUSA on April 23, 2010 at 1:35 PM

Would you include those whose one issue is being anti-abortion? Or for having less taxes?

Dark-Star on April 23, 2010 at 1:37 PM

Palin is right again. She is whooping the opposition.

God bless Sarah Heath Palin.

Inanemergencydial on April 23, 2010 at 1:37 PM

You know, the vitriol, attacks, name calling, etc. against those who seriously question Palin’s status as a brilliant politician (and idea seemingly held my many here) makes me wonder if the left isn’t right in part when they talk about hateful signs at the tea party rallies.

TheBlueSite on April 23, 2010 at 1:34 PM

Even Palin’s detractors can’t question that she is, in point of a fact, a very brilliant politician.
Dislike her if you must, but give her her due.

Further, I can assure you there were no “h8teful signs” at the Tea Parties.
Those are good Americans and good people…like me and my husband.

Jenfidel on April 23, 2010 at 1:37 PM

The Calibur on April 23, 2010 at 1:22 PM

It could be argued that had she refused to endorse McCain, then McCains handlers, who obviously had it in for her, would have painted her as an ungrateful opportunist and further destroyed her ability to define herself as was what was going down while she was governor.

I’m in agreement that TARP was unforgivable and have argued that since
it happened. I continue to be dismayed by the number of “consevatives” that forgive it as necessary, when in fact it was an orchestrated answer to an orchestrated crisis that would have been better dealt with by free market mechanisms.

that said I Know that Sarah did not agree with everything the Old Panderer did. Michigan was one and suspending his pathetic campaign to go to D.C. to reach across the isle and be slapped again, quite possibly is another.

dhunter on April 23, 2010 at 1:38 PM

Remember Goldman, Morgan Stanley and many other of the Wall street firms were FORCED to take the TARP money, as not to expose the weakest firms. That was a government decision…

jywill on April 23, 2010 at 1:13 PM

Yes, and getting a $12 billion payout from AIG was a government decision, too. Goldman knows how to keep its hands clean. It’s all the government’s fault!

PS: Why is Goldman still classified as a bank holding company and NOT an investment bank?

John9400 on April 23, 2010 at 1:39 PM

Jenfidel on April 23, 2010 at 1:28 PM

And lets not forget this gem:

“Th..the alt.. as I say inaction is not an option we have got to shore up our economy. This is crisis moment for America. Really the rest of the world also. Looking to see what the impacts will be if America were to choose not to shore up what has happened on Wall Street because of the…the ultimate adverse effects on Main Street and then how that effects this globalisation that we’re a part of on… in our world. So the rest of the world really is looking at John McCain – the leadership that he’s gonna provide through this and if those provisions in the proposal can be implemented and make this proposal better make it make more sense to taxpayers than again, John McCain is gonna prove his leadership.

But ultimately what the bailout does is help those who are concerned about the healthcare reform that is needed to help shore up our economy um helping the… oh – its gotta be all about job creation too – shoring up our economy and putting it back on the right track. So healthcare reform and reducing taxes and reigning in spending has got to accompany tax reductions and tax relief for Americans and trade we’ve got to see trade as opportunity not as competitive um scary thing but one in five jobs being created in the trade sector today we we’ve got to look at that as more opportunity – all those things under the umbrella of job creation – this bailout is a part of that.”

-Sarah Palin, Katie Couric interview

The Calibur on April 23, 2010 at 1:39 PM

Word of advice, if you ever claim to be a genius and MENSA member, you aren’t. No actual genius is dumb enough to suddenly proclaim his status as a genius.

TheBlueSite on April 23, 2010 at 1:40 PM

Dark-Star on April 23, 2010 at 1:37 PM

This.

The Calibur on April 23, 2010 at 1:40 PM

Your “logic” is an excellent example of why there should be an intelligence exam to be able to vote.

If they did that, Sarah Palin would get zero votes…you dont want that do you?

That you would dismiss everything else Palin has accomplished and stood for, due to her sense of “honor”, shows that you have none.

lovingmyUSApsychosis on April 23, 2010 at 1:35 PM

Her “sense of honor” was on display when she quit her only term as governor half way thru to go make easier dough on the talking-poing speech circuit.

FlickeringFlame on April 23, 2010 at 1:41 PM

The Calibur on April 23, 2010 at 1:35 PM

I need links to verify those “quotes,” please.

Jenfidel on April 23, 2010 at 1:41 PM

FlickeringFlame on April 23, 2010 at 1:41 PM

Your “arguments” are pathetic.

Millions of people who voted for NObama are complete morons!
Sadly, our electorate isn’t required to be smart…more’s the pity.

Jenfidel on April 23, 2010 at 1:43 PM

How can I make this easy for you to understand? Sarah Palin endorses John McCain, who voted YES on TARP. That makes him either an idiot or a crook, and I tend to vote for neither. I would assume that Sarah supported the decision or wouldn’t have endorsed him again. I can think of not one issue that is more important than protecting our tax dollars from corporate welfare. Her previous actions in this sense makes her new position quite disingenuous. You not taking that seriously says a lot about your line of “thinking.”

The Calibur on April 23, 2010 at 1:22 PM

Everyone who endorsed McCain should not be supported, is that what you are saying?

jywill on April 23, 2010 at 1:43 PM

Even Palin’s detractors can’t question that she is, in point of a fact, a very brilliant politician.
Dislike her if you must, but give her her due.

Jenfidel on April 23, 2010 at 1:37 PM

Nah. Her dismal polling tells me she’s clueless as a politician. Her quitting her job halfway through, and the ensuing decline among independents told me she was an idiot as a politician. Her implication that the birther movement was legit and okay was a sign she was an idiot politically. Her becoming a Fox News pundit screamed the same thing…etc

I defended her throughout the campaign, but I lost all faith in her when she quit her job.

TheBlueSite on April 23, 2010 at 1:43 PM

Whats up with the goofy spelling? Is this to avoid a filter? Naughty, naughty. You must be that Pink Floyd guy everybody keeps talking about.

FlickeringFlame on April 23, 2010 at 1:34 PM

FlickeringFlame:UGH! Everybody knows that Pink Floyd
are Lefty`s,and so far,MB4 and
Jenfidel are Rightys,okay,cont
inue!!

canopfor on April 23, 2010 at 1:44 PM

I defended her throughout the campaign, but I lost all faith in her when she quit her job.

TheBlueSite on April 23, 2010 at 1:43 PM

Me too. She blew it when she took that advance for her ghostwritten book. And she looks atrocious in blue.

Inanemergencydial on April 23, 2010 at 1:44 PM

Your “arguments” are pathetic.

Millions of people who voted for NObama are complete morons!
Sadly, our electorate isn’t required to be smart…more’s the pity.

Jenfidel on April 23, 2010 at 1:43 PM

When do the nurses get back from lunch and find out you are using the computer again???

FlickeringFlame on April 23, 2010 at 1:45 PM

I defended her throughout the campaign, but I lost all faith in her when she quit her job.

TheBlueSite on April 23, 2010 at 1:43 PM

So Palin loses your vote in the primary.

Your case has been made.

portlandon on April 23, 2010 at 1:46 PM

Sarah Palin, Katie Couric interview

The Calibur on April 23, 2010 at 1:39 PM

You’re going to have to post the video itself or a link to it, but your “transcription” of the script isn’t enough proof for me.

Jenfidel on April 23, 2010 at 1:46 PM

When do the nurses get back from lunch and find out you are using the computer again???

FlickeringFlame on April 23, 2010 at 1:45 PM

HAHAHAHA You insinuated she is insane. That is really clever!

Inanemergencydial on April 23, 2010 at 1:46 PM

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