Matt Taibbi explains why the Republicans are having a very difficult time playing the Goldman Sachs saga to their benefit, and how one ‘maverick’ is providing the solution:
The Republicans, meanwhile, are in the difficult position of trying
to sell Wall Street’s position on the Regulatory Reform bill to their
base. That might not sound so very difficult, given that the Tea
Partiers in particular continue to oppose further government regulation
and have used the idea that Barack Obama’s government is “taking over
the banking sector” as a rallying cry. But Wall Street isn’t exactly
popular with the Tea Party, either, so selling their side of the debate
on this bill is a bit of a sticky thing.
Leave it to Sarah Palin to come up with the solution. This is from a
post on her Facebook page. I advise everyone to
read it, since it’s a highly amusing piece of propaganda
Palin’s solution of course, is utterly hypocritical, ridiculous and shameless. She writes:
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.
Palin, of course, supported the bailout bill and doesn’t want to regulate Wall St at all. Who she thinks would regulate the industry is beyond me (maybe a team of Alaskan wolves?), but it’s political obsfucation at its best. She gets to play the populist attacking the Left for being ‘pro Wall St’ while actually supporting policies that would be far more beneficial to the industry. Taibbi writes:
Sometimes it’s hard not to admire Sarah Palin. You need to have a pair
of iron church bells swinging between your knees to pull off a crazy
line like this, and she does it almost effortlessly. If you’re scoring
at home, the idea here is that banks like Goldman actually want this
regulatory bill because it will allow them to “partner with
regulators,” i.e. team up with the government, to dominate the economy.
This is despite the fact that Washington is currently flooded with
financial services industry lobbyists who, in an attempt to kill this
bill, are practically lugging suitcases full of money around to throw
at the likes of Ben Nelson and Mitch McConnell.
The sad thing is that Palin’s facebook messages, read by thousands of her hapless fans, are swallowing this up and feeling pretty clever about it. ‘Palin really is a maverick!’ they’ll shout to anyone who will listen. ‘She’s one of us!’
Yes, and who do you think will be financing her Presidential run in 2012? You guessed it.
Ben Cohen is the editor and founder of The Daily Banter. He lives in Washington DC where he does podcasts, teaches Martial Arts, and tries to be a good father. He would be extremely disturbed if you took him too seriously.