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’.”
Her economic remarks come on the same day the McCain campaign released a new ad touting the duo’s ability to fix the ailing economy. The ad explains how they will do it, “Tougher rules on Wall Street to protect your life savings. No special interest giveaways. Lower taxes to create new jobs. Offshore drilling to reduce gas prices.”
The market fell 500 points yesterday, so the question is, does the Palin/McCain ticket really seem to have an adequate grasp on the situation. According to them, the fix is to drill for oil domenstically, that will help repair the damage done by the subprime debacle. So I missed that part of the rconomics class, where the supply of oil controls the price of my house. I am sure some economic brainiac can make a case for that, but us “normal” peopole ain’t buying it.
How many people will look at what the House voted down in terms of tougher rules…due to pressure or “sky is falling warnings” from the banking lobby? It makes the “tougher rules” a bit like gilding the lilly (esp. relative to the bank bonus 50% windfall tax in Britain and France in the EU).
Source: http://euandus3.wordpress.com/2009/12/10/depending-on-the-bankers-to-write-regulations-a-conflict-of-interest-involving-complexity-and-expertise/
euandus…..nice to hear from you again…..I think the Congress is a weasel….we can only trust that they do what their paymasters want and that is NOT the taxpayer….,I will be writing more and more on this as the month goes on……