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.”
Whether Palin has a hand in the initial "brainstorming" process for her Facebook screeds or not, let's take a look at what she's saying and then put the relevant context to it.
But first, a video.....
You see, this is where Palin utilizes a something called "projection". She's trying to paint this picture of malevolent Democrats cavorting with banking lobbyists in order to distract you from what you just saw in the clip above.
The invitation to the fundraiser, obtained by the Party Time blog of the Sunlight Foundation, shows that the it was hosted by lobbyists Wendy Grubb, Kirsten Chadwick, Scott Reed, and a variety of corporate PACs. Grubb is a top lobbyist for Citigroup, a bank that took taxpayer TARP funds and has yet to repay them. Chadwick, a former staffer to Rep. Roy Blunt (R-MO), is a lobbyist for Zurich Financial Group, a financial services conglomerate.
ThinkProgress, along with several other journalists, waited outside of the fundraiser at the National Republican Senatorial Committee (NRSC) building. Sen. Richard Burr (R-NC) walked quickly past reporters into his car, refusing to take questions. Both Sens. Cornyn and George Lemieux (R-FL) dodged reporters by driving into the NRSC’s underground lot. Although ThinkProgress tried to ask both GOP lawmakers and the other attendees of the fundraiser about regulation reform legislation, only Charlie Black spoke to us. Black is a longtime corporate lobbyist who now represents a variety of investment banks, including Goldman Sachs, within a trade group called the “Securities Industry and Financial Markets Association.”
Conservatives can't have their constituencies realizing that they care more for the corporation than the average American. Then again, these voters could very likely know this to be true but simply don't care. But I have to ask myself from time to time, are these people so blinded by ideological ignorance that they don't see that corporate lobbyists are more important than they are? I can recall multiple conversations with people in my town who will defend these corporations, Republican politicians, and conservativism with more vigor and passion than they would defend their own children. It's truly an amazing time to be living in when you have people completely disinterested in looking out for their better interests in the name of political alignment.
And Sarah, if Republicans think there should be reform, then why did all 41 Republicans Senators oppose the Obama administration's plan?
It's a fairly simple answer, really. They are opposing everything simply because the Democrats are in power. The only problem is that the Dems aren't being aggressive enough. Not just with Financial reform, but with virtually every initiative that they have tried to implement. From the Stimulus on down to Wall Street reform, Democrats have continually tried to be bipartisan and Republicans have just turned up the volume and screamed like the sky was falling. It's time that stopped.
A pity, though, that conservatives see Palin's Facebook page as a reliable news source and lack the capacity to not only fact check but to see the glaring reality right in front of them.
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