Governor Palin Hits Wall Street Crisis Hard
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.’’
She blamed the government and Wall Street for today’s financial turmoil, “Guys and gals, our regulatory system is outdated and needs a complete overhaul.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.”
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.”
Palin hit Barack Obama during her speech saying he will raise taxes, “Our opponent wants to raise income taxes and raise payroll tax and raise investment income taxes and raise business taxes and raise the death tax.”
“I knew that as I lowered taxes and got rid of business inventory taxes and then on a state level, suspended our fuel tax, those things do add to a vibrant economy, and we do have some wonderful economic indicators of success in my hometown,” Palin said. “We became part of the fastest growing area of the state because businesses wanted to be there. They knew that government would be on their side.”
Palin’s remarks were in front of an enthusiastic crowd at the Jefferson County fairgrounds. The crowd screamed her name and held signs that read, “Read my Lipstick, “Taxpayers for McCain-Palin,” and “Working Moms for Palin.” There were protestors outside of the event, one with a sign that read “The Antichrist Wears Lipstick.” But, it seemed as though only one lone protestor came inside the event–she screamed “Liar!” and “You don’t have the experience!” throughout the speech.