THE BIG SHORT: There’s A Sucker Born Every Minute

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NEW YORK MAGAZINE: Sarah Palin is a singular national industry. She didn’t invent her new role out of whole cloth. Other politicians have cashed out, used the revolving door, doing well in business after doing good in public service. Entertainment figures like Arnold Schwarzenegger, Jesse Ventura, and even Ronald Reagan have worked the opposite angle, leveraging their celebrity to make their way in politics. And family dramas have been a staple of politics from the Kennedys—or the Tudors—on down. But no one else has rolled politics and entertainment into the same scintillating, infuriating, spectacularly lucrative package the way Palin has or marketed herself over multiple platforms with the sophistication and sheer ambitiousness that Palin has shown, all while maintaining a viable presence as a prospective presidential candidate in 2012.

The numbers are staggering. Over the past year, Palin has amassed a $12 million fortune and shows no sign of slowing down. Her memoir has so far sold palin-money.jpgmore than 2.2 million copies, and Palin is planning a second book with HarperCollins. This January, she signed a three-year contributor deal with Fox News worth $1 million a year, according to people familiar with the deal. In March, Palin and Burnett sold her cable show to TLC for a reported $1 million per episode, of which Palin is said to take in about $250,000 for each of the eight installments. While she’s waiting for her television career to begin in earnest, she’s been busy on the speaker’s circuit, having signed with the prestigious Washington Speakers Bureau. Palin commands $100,000 per speech, putting her in the same league as fellow Speakers Bureau clients Colin Powell, George W. Bush, and Rudy Giuliani.

Nowadays, for both poles of the political spectrum but especially for the right, politics is a business—the entertainment business. The freak show, as Mark Halperin termed it, has been turned into a fully merchandised product. It was Fox’s Roger Ailes who had the insight that the American right was an underserved market, one with a powerful kind of brand loyalty. Fox News has turned a disaffected segment of the populace into a market, with the fervor and idiosyncratic truth standards of a cult. Wingnut-ism has been monetized, is one admittedly partisan way of looking at it. Palin stokes the disaffection of her constituents and then, with the help of Fox, offers to heal them, for a price. And—surprise—they’re more affluent than most Americans. Fifty-six percent make over $50,000 a year, according to a Times/CBS poll. Running for president is no doubt part of her business model. But forget elections (as many Palin supporters already seem to have done); she’s already the president of an alternative America—and also its CEO. MORE

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