Palin makes her first major gaffe (doesn't understand Fannie Mae & Freddie Mac)

Sam Stein at Huffington Poat:

Gov. Sarah Palin made her first potentially major gaffe during her time on the national scene while discussing the developments of the perilous housing market this past weekend.

Speaking before voters in Colorado Springs, the Republican vice presidential nominee claimed that lending giants Fannie Mae and Freddie Mac had "gotten too big and too expensive to the taxpayers." The companies, as McClatchy reported, "aren't taxpayer funded but operate as private companies. The takeover may result in a taxpayer bailout during reorganization."

Economists and analysts pounced on the misstatement, saying it demonstrated a lack of understanding about one of the key economic issues likely to face the next administration.

"You would like to think that someone who is going to be vice president and conceivable president would know what Fannie and Freddie do," said Dean Baker, co-director of the Center for Economic and Policy Research. "These are huge institutions and they are absolutely central to our country's mortgage debt. To not have a clue what they do doesn't speak well for her, I'd say."

http://www.huffingtonpost.com/2008/09/08/palin-makes-her-first-gaf_n_124792.html

Lieberman needs to teach her about national issues too!

like 5 trillion or so....hugh

but if it helps to expose her limited understanding in these crucial matters...so be it...

Mr and Mrs McFraud

She really seems to be clueless.

This person is not ready for prime time

see, MOST americans don't know what Freddie Mae does, so all this does is prove that Sarah Palin is like the rest of us. American's want average folk in DC, not high falootin elitist know things types.

Also, mind you, it is blatent sexism, and an ATTACK on a mother with a disabled child to say that she does not know what she is talking about in regards to the economy - this woman balances the checkbook.

More low road attacks from an Obama campaign that has served the rhetoric of a new kind of politics.

Read - sarcasm, until such time as the MSM takes this deranged half witted not ready for prime time Jerry Spingeresque twit to school LIKE IT SHOULD, I remain skepitical. I ALREADY gave the MSM too much credit in that regard.

you'd think she would have at least paid attention and figured out what they were
all about. She's too busy learning about world issues.

Thanking Alaska separatists for their courage & support doesn't qualify?

Leaving a town with a $14 mill annual budget with a $20 mill debt - even AFTER receiving $60 mill in federal funds - doesn't qualify?

This is something that affects people all over. It is sad that people don't care unless it
will effect them personally.

...'low information voter.' They might care if they really understood Fannie and Freddie...or the Constitution...or the economy. But they don't.

And that IS sad.

...guess:

McCain (like Bush) is about privatizing everything. He (like Bush) derides big government institutions (FEMA, UN, Nato, Soc. Security, public schools, etc.) . He promotes the 'ownership society' as a smokescreen to get rid of these things because his basic philosophy is that they cost the government money and are not worth it. It's like when Bush has said he'll give tax cuts because "It's your money." But he intends to cut services (like with FEMA). But, remember, McCain says he doesn't know much about the economy...which is probably why he is continuing Bush policies. He's not smart enough to do anything new on his own.

I think he has shared his thoughts with Palin. Maybe talked about how all these things are expensive to tax payers. And she SLIPPED out the truth. JMHO. What do you think?


McCain = 4 more years of Bush.

cut her some slack! :rofl:

...after 2004. ;)

It's a accurate reflection of her inadequate understanding of American economics.

She didn't misspeak. She just doesn't know.