November 13, 2012

PUNJABI POPULIST:

Jindal: End 'dumbed-down conservatism' (Jonathan Martin, November 13, 2012, Politico)

"We've got to make sure that we are not the party of big business, big banks, big Wall Street bailouts, big corporate loopholes, big anything," Jindal told POLITICO in a 45-minute telephone interview. "We cannot be, we must not be, the party that simply protects the rich so they get to keep their toys." [...]

Declaring that Republicans "can't be beholden to special interests or banks," the successor to Huey P. Long indicated support for provisions in the Dodd-Frank law, which requires banks to increase their reserves to prevent future taxpayer-funded bailouts.

Even more notably, Jindal suggested he'd look favorably on something akin to the "Volcker rule."

"You've seen some conservatives come around to the idea that if banks are going to be using FDIC-insured deposits, they shouldn't be allowed to co-mingle those funds with some of their riskier investment banking activity," Jindal said. "There needs to be stronger walls between insured deposits, the taxpayer protected side of business and riskier side of business that generate these risks and profits."

Asked if Wall Street generally has too much influence on Republicans, he said: "I think special interests in general have certainly too much influence in Washington, D.C."

In comments that will raise eyebrows among some of the RGA's donors, Jindal decried "agnostic" lobbyists who work both parties.

"They're access donors because they know whoever is in power -- that's who they want to be friends with to get their special perks in the Tax Code," he said.

Jindal said he didn't want to see tax rate increases but called for broad tax reform to rid the code of loopholes and make it fairer for more Americans.

"Depending on the other reforms that are made, certainly I'd be open to the idea of having more deductions, credits available to lower-income [filers]," he said.
Posted by at November 13, 2012 3:36 PM
  
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