Last night Sarah Palin added her voice to the populist chorus:

Darn right it was the predator lenders, who tried to talk Americans into thinking that it was smart to buy a $300,000 house if we could only afford a $100,000 house. There was deception there, and there was greed and there is corruption on Wall Street. And we need to stop that.

How? If private citizens are adults, how does the government prevent them doing something dumb? Or greedy?

Truth in Lending laws already compel lenders to spell out terms (that mountain of paperwork required for every loan closing.) So what if borrowers won’t/don’t take the time to understand what they’re signing?

How big a Nanny must the state be?

While responsible American taxpayers fume about bailing out/rescuing Wall Street, they should reserve some ire for their greedy neighbors on Main Street. After all, who borrowed the billions that are not being repaid?

As we now see, when your neighbor stiffs the bank, he’s also stiffing you.

During the real estate boom, many gleefully watched their home equity boom. Many tapped that equity (windfall profits?) to buy (speculate?) on second houses, finance cars, go on vacations etc. Those that couldn’t or wouldn’t pay back the loans are predatory borrowers, no?

Palin added a moment later: 

We need to make sure that we demand from the federal government strict oversight of those entities in charge of our investments and our savings and we need also to not get ourselves in debt. Let’s do what our parents told us before we probably even got that first credit card. Don’t live outside of our means. We need to make sure that as individuals we’re taking personal responsibility through all of this.

According to pollster Frank Luntz, who had an audience wired as they watched the debate, this comment registered a jolt of approval.

Palin added:

It’s not the American people’s fault that the economy is hurting like it is, but we have an opportunity to learn a heck of a lot of good lessons through this and say never again will we be taken advantage of.

That’s wrong. It is certain people’s fault that the economy is hurting. It may be bad politics to say so, but it’s the truth.