She blamed the government and Wall Street for today’s financial turmoil, “Guys and gals, our regulatory system is outdated and needs a complete overhaul. Washington has ignored this. Washington has been asleep at the switch and ineffective and management on Wall Street has not run these institutions responsibly and has put companies and markets at risk,” Palin told the cheering crowd, “They place their own interests first instead of their employees and the shareholders who actually own these companies.”
She pressed how important it was for America to“remain the strongest” financial market in the world and pledged that a McCain-Palin administration will restore the “integrity” and “confidence” in our markets, “We are going to reform the way Wall Street does business and stop multi-million dollar payouts and golden parachutes to CEOs who break the public trust.”
Sarah Palin September 15, 2008
Let's just look at these two short paragraphs, crafted by Faux and Palin's very words.
- She Blames Government ["Washington has been asleep at the switch and ineffective"]
- and the Free Market Economy ["...management on Wall Street has not run these institutions responsibly and has put companies and markets at risk." “They place their own interests first instead of their employees and the shareholders who actually own these companies.”
- She declares that the integrity and confidence in the markets is weak.
- She says that REPUBLICAN John McCain is going to change how Wall Street Does Business
- She says that REPUBLICAN John McCain is going to stop million dollar payouts for CEOs.
Now in just two short paragraphs [and the rest of the speech is more of the same] you can see that she thoroughly trashes the failed policies of the Bush Administration while at the same time McCain has supported Bush on nearly EVERY economic policy in the past EIGHT years. She goes on to say the team is going to "reform" Washington yet has the same economic team that guided Bushie during much of the first part of his term [Gramm, Kemp]. Further she calls out the White House by declaring the Bush Economy WEAK and Lacking CONFIDENCE.
Yet, nowhere, in any speech, any policy statement, any white paper have we seen a single deviation from the BUSH ECONOMIC POLICIES of the past eight years. So she essentially says they are going to fix the problem by continuing to to the same thing. [remember my Rosie analogy of trying to eat your way out of obesity?]
Now, to the important part. It seems that Ms Palin ASSUMES that the government has a role, or is willing to take a role in impacting the salaries and compensation plans for Executives in PRIVATE ENTERPRISE. Now everyone here knows that I don't like the excessive bonuses that some CEOs get for PISS POOR performance BUT BUT BUT BUT it is the decision making of the Stockholders, Boards of Directors and Compensation Committees to make that call, NOT the VP of the United States.
This speech has FOUR POSSIBILITIES
1) Republicans just found out that their candidates are NOT Republicans at all BUT will vote for McCain Palin anyway.
2) McCain Palin will say ANYTHING to try and get elected but really would not ever "bother" their buds in the business world.
3) McCain Palin plans on Expanding the Bush Economic Doctrine to include massive Regulatory actions on the Financial sector and further nationalize the industry.
4) Ms Palin really has no clue as to what she is talking about and simply spews out whatever comes to her head that she thinks will make people like her -- really, really like her.
