Palin was commenting on US funding for science being done in France - not as the ever objective Madcow portrayed Palin's comment.
Peer-review for grant funding in the scientific fields I've been involved in is greatly flawed. The "I'll scratch your back and you scratch mine" happens frequently. I've had federal program managers tell me that decisions on programs to be cut have been made before program reviews for that purpose occurred. I've also listened to a couple of professors bragging about how much DOE money they were going to get for their new research institute even though the reviews hadn't been conducted because certain Californian politicians had assured them that the money would be forth-coming.
Of course, in principle peer-review is a great thing; however, as it is frequently practiced it is often corrupt. A PhD and an understanding of science does not assure ethical behavior.
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