Institutionalizing Crony Capitalism

Sarah Palin via Facebook

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 ensure 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

Sarah Palin: Mr. President, is a strong America a problem?

Sarah Palin via Facebook

Asked this week about his faltering efforts to advance the Middle East peace process, President Obama did something remarkable. In front of some 47 foreign leaders and hundreds of reporters from all over the world, President Obama said that “whether we like it or not, we remain a dominant military superpower.”

Whether we like it or not? Most Americans do like it. America’s military may be one of the greatest forces for good the world has ever seen, liberating countless millions from tyranny, slavery, and oppression over the last 234 years. As a dominant superpower, the United States has won wars hot and cold; our military has advanced the cause of freedom in Iraq and Afghanistan and kept authoritarian powers like Russian and China in check.

It is in America’s and the world’s interests for our country to remain a dominant military superpower, but under our great country’s new leadership that dominance seems to be slipping away. President Obama has ended production of the F-22, the most advanced fighter jet this country has ever built. He’s gutted our missile defense program by eliminating shield resources in strategic places including Alaska. And he’s ended the program to build a new generation of nuclear weapons that would have ensured the reliability of our nuclear deterrent well into the future. All this is in the context of the country’s unsustainable debt that could further limit defense spending. As one defense expert recently explained:

The president is looking to eliminate the last vestiges of the Reagan-era buildup. Once the wars in Iraq and Afghanistan are “ended” (not “won”), the arms control treaties signed, and defense budgets held at historic lows while social entitlements and debt service rise to near-European levels, the era of American superpower will have passed.

The truth is this: by his actions we see a president who seems to be much more comfortable with an American military that isn’t quite so dominant and who feels the need to apologize for America when he travels overseas. Could it be a lack of faith in American exceptionalism? The fact is that America and our allies are safer when we are a dominant military superpower – whether President Obama likes it or not.

- Sarah Palin

Lyrics to think about

As I was listening to my iPod, I came across a song from Les Miserables that I believe is totally fitting for what we're about to see tomorrow. It's called "Do you Hear the People Sing."

Do you hear the people sing?
Singing a song of angry men?
It is the music of a people
Who will not be slaves again!
When the beating of your heart
Echoes the beating of the drums,
There's a life about to start
When tomorrow comes!

Will you join in our Crusade,
Will be strong and stand with me?
Beyond the barricade is there
A world you long to see,
And join in the fight
That will give you the right to be free!

Do you hear the people sing?
Singing a song of angry men?
It is the music of a people
Who will not be slaves again!
When the beating of your heart
Echoes the beating of the drums,
There's a life about to start
When tomorrow comes!


Will you give all you can give
So that the battle may advance?
Some will fall and some will live;
Will you stand up and take your chance?
The blood of the martyrs
Will water the medows of France! (USA in our case)

Do you hear the people sing?
Singing a song of angry men?
It is the music of a people
Who will not be slaves again!
When the beating of your heart
Echoes the beating of the drums,
There's a life about to start
When tomorrow comes!

Sarah Fires Up the Boston Tea Party!

Sarah Palin Speaks at the Southern Republican Leadership Conference

Sarah Palin and Michele Bachmann

Rally in Minneapolis, Minnesota


Interview with Sean Hannity

Sarah Palin: Real American Stories

Just a little over a couple hours ago, Sarah Palin reminded us that it is the people of America, not politicos that make this country great. It doesn't matter if we're "Bill Gates or Bill the Cable Guy." As the daughter of a small business owner who scrapes in money to pay for the good education I've received over the past few years, I couldn't agree more.

My mom is a small business owner and over the years she has taught me how to work hard and she has also been able to reinvest her earnings in both the business and my education - and she didn't have a degree in business!

The money that has gone towards my education, especially means a lot to me as I've been going to a private school since 7th grade.

I'm especially glad that I decided to continue through the end of this year because one of the memories I will carry forever is the friends I've made.

Among those many friends is my friend, Janine Swanson, whom reminds me a lot of Sarah. Janine is both agressive and caring. This year she was the last captain of the school basketball team, the Nazareth Academy Lasers. She's helped carry the team to the State Championship. The Lasers lost in the semifinals, but the game was close (80-70) and the Lasers put up a really good fight. If you ask me, that sounds like an American story because the Lasers overcame great adversity by playing harder than some predicted!

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Here is Sarah Palin's statement via Facebook:

America is exceptional! It’s not her politicians that make her so; it’s her everyday people and the values Americans hold so dear. During this special week let’s take time to honor some exceptional citizens who may have felt ordinary, but by acting on opportunities in front of them, they’ve accomplished some extraordinary things and have made this world a better place. “Real American Stories” highlights some good people who help lift America’s spirit. Enjoy their stories as they inspire all of us to look beyond self and strive to contribute to this great, blessed country.

I will be guest hosting “Real American Stories” tonight on Fox News Channel. The show airs at 10pm EDT, 9pm Central, 8pm Mountain, 7pm Pacific, and 6pm Alaska time.

- Sarah Palin