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The President and Bloomberg

July 23, 2009

In the course of his healthcare reform pep rally last night, the President fielded a question from Julianna Goldman of Bloomberg News regarding the President’s approach to prevent abuse of the financial markets.  The President, seemingly true to his vision of a strong central Government, responded (after a very long preface) that increased regulation and even fees for certain finance deals would be in order.  What the President cannot appreciate is that bad practices driven by greed don’t just come out of thin air.  They come from the moral upbringing our financiers and lenders received at home and in school.  There was a recent telling survey of the CEOs of all the large companies, including banks and others, that have failed in the past year.  Most of them came from our elite schools. If a survey were taken of the CFOs and Controllers of the same companies, there would likely be a similar draw from the same schools. What happened?  Didn’t the school teach that profit for profits’ sake is morally wrong and probably would be the undoing of a company?  Didn’t they teach that honest dealings are the best way to ensure a company’s long term success and status in the community? 

Instead, we get from our Chief Executive resort to the Federal Government.  Yes increased penalties and regulations can hinder some bad practices, but they won’t stop such practices so long as basic virtues of fair dealing and honesty are not extolled as the road to business success.

Republicans like Sarah Palin understand that the strength of America lies in her doers, the people, not in the watchers, the Government.  The strength of America is honest, innovative and fair dealing business men and women.  The Governor understands that the strength of America begins in a stable home wherein courage, selflessness, honesty, creativity, wonder and patriotism are taught.

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