Fiorina blasts 'crony capitalism' in Iowa soapbox remarks

[jpak]

Source: USA Today

Former Hewlett-Packard CEO Carly Fiorina criticized "crony capitalism" in an Iowa State Fair soapbox speech Monday, saying it's hurting innovation and costing the economy jobs that have historically been created by small-business entrepreneurs.

Fiorina, who has been rising in some polls as a candidate for the Republican presidential nomination, said that too often when legislation is passed in Congress it is the result of high-powered lobbyists working in consultation with big corporations and powerful politicians.

An example, she said, is the Dodd-Frank Wall Street Reform legislation, which she believes has rewarded the nation's largest financial institutions while forcing the closure of many community banks.

Fiorina spent nearly her entire 20 minutes on the stage answering questions from the crowd, which was about 25 deep or more and gave her a generally friendly reception. She suggested that raising the minimum wage should be a state decision, rather than a federal decision, saying wage issues are different in New York City, for example, than in Mason City, Iowa.

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Read more: http://www.usatoday.com/story/news/politics/elections/2015/08/17/carly-fiorina-iowa-state-fair-soapbox/31863481/

[underpants]

1. RW radio talking point started the day Obama took office

The point being, obviously, to cloud/cover the rampant cronyism (Custer Battle - the Heritage Foundation doing civilian hiring for Iraq) during the W&Co. fiasco.

[LynneSin]

2. This woman is totally clueless that things like google exist

and that her entire history is there for the world to see including what she did to HP and Lucent.

It amazes me she can make these statements with a straight face knowing the lives she has destroyed.

[Sherman A1]

3. Perhaps

Carly will be an upcoming GOP flavor of the week for the media, much as we saw the cycle in the 2012 primary cycle.

[Sunlei]

4. Not one Corporation out there wants to hire Carly Fiorina? wonder why.

[Snotcicles]

5. Her big problem is

the only person anybody on Earth believes will do anything about it, is Bernie Sanders.

[hobbit709]

6. If she looked in a mirror while making that statement, it would shatter.

[AtheistCrusader]

7. I just choked on my tongue laughing.

Holy shit, that was hilarious.

[RosevilleSparky]

8. A request from a former HP employee

A message from Silicon Valley: PLEASE PLEASE PLEASE try to avoid using her name in the same sentence as HP. A good title would be "Exiled in Disgrace, Banished with Cheers from Employees, Total Failure at any Role Above Parking Lot Attendant, Ms. Carly Florina".

[Salviati]

9. ROFL

Hey, if anyone should know about being richly rewarded for failure it's her!

[CTyankee]

10. Oh, that's rich...

[liberaltrucker]

11. Pot, meet kettle

[YOHABLO]

12. "...about 25 deep" ? that's kind of sad.

[One_Life_To_Give]

13. Right sentiment, wrong bill

AFAIK Dodd-Frank exempts the small community banks and only applies to the large institutions, JPM, CITI et al.

However she is right that large corps often use regulations as a weapon against their smaller and more agile competitors. The more cumbersome the regulation the easier it is to wield as a weapon against firms that can't justify dedicated staff to handle compliance.