Palin Addresses Wall Street Financial Crisis

Sarah Palin opened up her remarks here focusing on the current Wall Street financial crisis and how a McCain-Palin administration will put an end to the “mismanagement and abuses” on Wall Street.

In her usual folksy language calling the crowd “guys and gals”, she addressed the excited throng of a few thousand saying that the country’s economic problems need some “shaking up and some fixin’.” She added that she was pleased to see taxpayer money wasn’t being used to bail out Lehman Brothers unlike the Bear Stearns bail out:

“It’s taking a toll on our economy and that means people’s life savings and I’m glad to see in this case the Federal Reserve and the Treasury have said no to using taxpayer money to bail out another one–this time Lehman Brothers. Every effort has to be made.’’

everything needs to be re-regulated. There is a lot of collusion between govt and companies. If regulations were designed to favor some companies and discourage others then you have a problem.

Corruption is like a big tax. We all complain about all the junk coming out of China. Mexico actually has very low taxes but the effect of corruption is like a 50% tax and that’s why so many try to come here illegally.
http://www.theglobalist.com/storyid.aspx?Storyid=4640

Compare US on “Freedom from corruption.” In 2007, Iceland is #1 at 97 and US is #17 at 76. In 2008, New Zealand is #1 and US is #20 at 73.

http://www.heritage.org/research/features/index/search.cfm

I know conservatives like to talk about cutting taxes and spending all the time but corruption is also very important and Palin is probably the first national conservative to make the connection to the economy.

You are barking moonbat mad.

The Fed had to add $95 billion today if the banks wanted to open for business tomorrow. Europeans another $50 billion. These injections of brand new money were oversubscribed - banks actually tried to get $400 billion. The non-bailout has already cost 10 times what any bailout would have cost, and we are still counting.

This was an utterly stupid move of world historical proportions, akin to collapsing the money supply deliberately in 1932. It will cost us unnecessary trillions before this burns out.

The moralizing ideological blame game nonsense needs to stop yesterday. There is one thing and only one thing important right now, and that is to allocate the loss and limit its size as much as possible. Playing "I'll make the other guy pay" can and will multiple the losses 10 to 100 fold. Already is.

Is Lehman paying one dime more because it wasn't sold to Barclays for a nominal sum? No, it is bankrupt, bankrupts don't pay their debts, their creditors do.

Are Lehman's creditors properly on the hook then? Well, in the sense that AIG may be bankrupt too before the end of the month, sure.

Is anyone anywhere richer in the slightest for this moralizing desire to burn them all to the ground? Sure, about six short sellers. But not the taxpayer, not the public, and above all not the American people.

Is there a single economist left in the US, who cares about the overall result, the size of the pie for everyone to share? - or is everyone just an ideologue peddling stupid irresponsible spin trying to steal from each other?

You are just trying to destroy America and capitalism. I am a patriot trying to save them, you are a luddite throwing bombs irresponsible, smirking the entire time. Which is the sort of obscenity we rightly will not tolerate from the left on security, and I won't tolerate it from the right on economics, either.

Look at McCain and Obama today. McCain is trying to reassure to keep the markets alive. Obama sees only a chance for spin and another excuse to trash his country. Guess which one you sound like?

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