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Palin rails against 'crony capitalism, permanent political class' in Iowa speech

Washington, Sun, 04 Sep 2011 ANI

Washington, Sept 4 (ANI): Former Alaska Governor Sarah Palin, who has ignited a storm of speculation on whether she will seek the presidency in 2012, delivered a populist broadside in Iowa against US President Barack Obama, the entire political establishment and what she called the 'crony capitalism' that she said is destroying the country.


Casting herself as the ultimate outsider, Palin used a Tea Party rally to chastise the president and a 'permanent political class' that she said has protected their powers and enriched them, their friends and their contributors at the expense of ordinary Americans.


"There is a name for this. It's called corporate crony capitalism," the Washington Post quoted Palin, as saying.


"It's not the capitalism of free men and free markets, of innovation and hard work and ethics, of sacrifice and of risk. No, this is the capitalism of connections and government bailouts and handouts, and influence peddling and corporate welfare," she added.


Palin sought to tap into the deep disaffection with Washington, as well as the widespread anxiety over the economy, by attempting to set herself apart from those in power and even those in her own party seeking the presidency.


She decried the policies Obama has put in place as she called for an American restoration that would return power to the people, the Post said.


"Folks, the truth is Barack Obama is adrift with no plan because his fundamental transformation is at odds with everything that made this country great. It doesn't make sense. He doesn't make sense," the paper quoted her, as saying.


Palin said that crony capitalism represents 'the collusion of big government and big business and big finance, to the detriment of all the rest.'


She further said that she fought and defeated that kind of collusion as governor of Alaska. (ANI)


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