Sarah Palin Ignorant on Fannie Mae and Freddie Mac
Palin is either lying or ignorant; both bad
Republican vice presidential nominee Sarah Palin evidentaly doesn’t understand the basic fundamentals on loan giants Fannie Mae and Freddie Mac. Or she is lying to you.
Speaking at a rally on Sept. 6, 2008, Palin said Fannie Mae and Freddie Mac had “gotten too big and too expensive to the taxpayers.” McCain even clapped at it.
Sigh.
Fannie and Freddie aren’t taxpayer funded, they’re operated as private companies.
(@ time 0:50)
You would think someone up for the vice presidency would have at least the vaguest idea of what they do, especially now that they have been taken over by the government. If she does understand how the loan giants work, the VP nominee of the Republican party is deliberately lying to voters as a ploy to play on anti-tax sentiment.
Jake Tapper of ABC News asked the McCain-Palin campaign for an explanation of Palin’s confusing remarks:
Its response was to send an e-mail from domestic policy adviser Doug Holtz-Eakin:
“John McCain supports the steps needed to keep the financial troubles at Fannie Mae and Freddie Mac from further squeezing American families, and endorses the idea that management and shareholders should not benefit from government backing,” Holz-Eakin said. “While details are not yet available, the actions taken today are consistent with those objectives. Fannie and Freddie have been the poster children for a lack of transparency and accountability, and remind us of the needed reforms to financial markets in general. We need to create jobs and get the economy going — and get way from the practice of sticking Main Street Americans with these bills. If elected, John McCain will continue his crusade for the right reform of the institutions. Sen. McCain will get real regulation that limits their ability to borrow, shrinks their size until they are no longer a threat to our economy, and privatizes and eliminates their links to the government.”
Um, that doesn’t even begin to explain what Palin said. The McCain/Palin campaign refuses to even say she misspoke!
The point is that Gov. Palin either doesn’t know what she’s talking about or she is flat out lying to you.
And for a person seeking the office of the vice president of the United States, that is terribly troubling. We’ve had enough lying from the government over the last eight years, and we certainly don’t need another person in the White House that doesn’t get it.
Not surprising, she doesn’t know what the VP does either:.
Sigh.
Image: http://politicalkudzu.com/wp-content/uploads/2008/02/sarah-palin-1.jpg
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Stumble it!
And the remark she made is so surprising—if we vote her in–something is seriously wrong with this country.
Seriously. And I thought Bush was bad.
Talk about a TOTAL nonissue. I’m always reminded when I read the “outrage” of talking and writing heads on subjects like this of the Democratic Party demigod Franklin Delano Roosevelt’s response to a reporter who asked him about an agricultural policy. He replied something to the effect of, ‘How would I know. Go ask my Secretary of Agriculture.’ Now THAT was a politician who spoke the truth!
Palin is the female version of Dan Quale, attractive but an air head.
Her church is trying to “Pray the Gay Away.” Good luck Moose Killer!
LexJim,
I wrote the post.
The point here isn’t “outrage,” it’s shame. It’s obvious she’s simply reading talking points and doesn’t know what she is talking about. If she did know, she wouldn’t have said it the way she did. That’s like saying ‘Google is taking too much of our taxpayer’s money.’ It makes no sense.
So perhaps there is a third option: She’s either ignorant (if I know about it, she should), bluntly lying to uninformed voters, or simply doesn’t care and is just reading a script, which in that case means she’s an automaton.
All bad man, all bad.
The writer of this article doesn’t understand Fannie Mae and Freddie Mac. They are private companies with financial government protections. Where do you think the government is going to get the money to bail them out. Out of YOUR POCKETS. These Government Sponsored Entities were the creation of THE LIBERALS. Sarah is ABSOLUTELY correct. It is now the TAXPAYERS that have to foot the bill for their irresponsibility. Get your facts straight.
Sarah was right and YOU are wrong.
Dan Petre:
Sorry Dan, but what you wrote is not true.
Palin was talking about this BEFORE the government bailed out Fannie and Freddie, stating that the loan giants have become too expensive for the taxpayers.
As for liberals (I’ll avoid that caps lock) creating these government sponsored entities, thank goodness. Millions upon millions of homeowners are glad they could purchase a home through them, and that the government would back them up.
If you’re worried about the government taking money out of ‘your pockets,’ best try to stop the 600 billion dollars a month going to the Iraq war. It is the TAXPAYERS that have to foot the bill for that irresponsibility. Compared to that, Freddie and Fannie are small potatoes.
No wonder she transferred from school to school. Her GPA was probably low!
Excuse me, but what the HELL is she talking about? You mean to tell me that the person who is running for Vice President of the United States doesn’t know that previous to today Fannie Mae and Freddie Mac were publicly traded and owned corporations?
You mean to tell me that the person who wants to be a heart beat away from the President of the United States if something were to happen to 72 year old John McCain doesn’t know that these two entities prior today were not government run programs?
Okay, so now we are starting to understand why the Republicans are hiding her from the media and won’t let her leave John McCain’s side. SHE DOESN’T UNDERSTAND BASIC FUNDEMENTAL BUSINESS CONCEPTS AND FACTS!!!!!!!
I’m sorry. Take me out back and shoot me! This country is being duped by a fresh pretty face that gave a speech full of lies at the RNC Convention!
America…..WAKE UP!!!!
I am really really scared that Mccain and this Nobody will win this election. All over the blog sites I see support for Obama, Or let me put it another way not really positive support for Mccain. Then in the headlines I see Mccain in the Lead & all thanks to Palin. But WHY? They are not what the country needs for the future. They may have good intentions but we are going backwards if we vote for them NOT FORWARD. I guess thats ok If YOUR 72 years old or live in Alaska. But I live in a state thats you can count 5-6 forclosure homes on one 4 block street, we all have 8-9 friends & family out of a job, having to drive 40-50 miles just for work, or living 3 familys in one 2 bed room house. Its sick and we need SOMETHING ELSE. Also My husband is Russian and I know for a Fact if Mccain in President we will go to war with Russia. It will be WW3. Mccains wife what over there with the Georigian Presidents Wife having Cakes and Crakers during the Invasion. What business is it of hers! She is not even the 1st lady. You dont see Obamas Wife with Iraqs 1st lady… KEEP Your eye on the man. My Husband said Mccain may have a bone to pick with Russia becuase the war he served in… all the wepons from the enemy where russian. Its scary I do not want a ticking time bomb in office. I have a 6 year old & I would like her never to see MUSHROOM CLOUDS. There some things I wanted to get off my shoulders.
I don’t think Sarah Palin said anything wrong - Fannie Mae was a government program,and now maybe Quasi- private at best , while spouting private(investor ownership from profits , it remains effectively taxpayer backed , who do you think foots the bill on these government takeovers ?? She’s right - and they will cost the taxpayer, and the taxpayer built them to begin with . Fannie and Freddie
When you first graduate from collage you generally don’t know anything about the business you intend to pursue. However, you have become a master at how to learn new things more quickly and therefore it doesn’t take a lot of time to catch up. So therefore give her a couple months to come up to speed. She is after all the Vice President candidate who really has no power unless Heaven forbid something happens to the president. Your focus should be with the Presidential candidates not there running mates. Obama is about as inexperienced as you get for a President if he were elected. However, I’m sure he’s no dummy and could quickly get up to speed. So give Sarah Palin the same respect.
It’s almost like your just looking for anything you can find to bash the Republican party.
History has had many ill prepared Vice Presidential candidates whom have fared very well when they were called up to lead.
Who cares. It’s the National media trying to again make something out of nothing. This lady frightens the Demos, and rightfully she should. She is the only one that is running that is telling the truth. It will be good getting someone in Washington that has no favors to repay. Especially important is she’s not a lawyer. GO Sarah GO. It’s best to have someone who tells the truth, and not tries to “wheel it”.
Tortuca,
Petre is correct in what he is saying. And the fact that she (Palin) said this before the bailout is irrelevant since most of Wall St. already knew that the gov’t was going to have to step in and bail the FM’s out. And you are right, many people over the years have purchased their homes through one or the other and are grateful for the program. The problem became the lack of accountability for granting loans for homes that people couldn’t afford to begin with over the pat 5 years or so.
I would much rather have a President who was partly raised Muslim (but won’t acknowlege it) and sat in a church for twenty years to listen to a Preacher rant hate. Freddie Mac and Fannie Mae are programs anyone with half a brain can educate themselves about if they don’t know. Belief systems that are anti american are much harder to un learn. Think about who you would want to lead. It is not Palin vs. Obama. Palin is the VP candidate, remember?
Sharon on September 8th, 2008 at 11:03 pm
And the remark she made is so surprising—if we vote her in–something is seriously wrong with this country.
——————————————————————————————————————Just wait until you get your tax bill. You and I, are going to have to pay for all the losses that Fannie Mae, and Freddie Mac, has incurred.
Start bailing out Freddie Mac with Richard Syron’s $38 million
2008 Compensation Details:
Total Compensation $14,497,981
Salary $1,200,000
Bonus $3,450,000
Stock Awards $8,342,333
Change in Pension Value $734,063
Other Compensation $771,585
Equity Gains & Retirement Plans
Deferred compensation balance $814,315
Gains from stock vested $4,433,106
Pension balance $1,546,108
———————————————————————————————————
Put Sarah in charge. She’ll stop the waste.
Dennis
Ron on September 8th, 2008 at 11:46 pm
Palin is the female version of Dan Quale, attractive but an air head.
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Ron, I’m trying hard to be sympathetic, but, I can’t. You’re going to have a very difficult time, convincing O’bama, that Mrs. Palin is not a serious threat. Have you seen him, today? Do you see the worry, and fear, on his face? That fear is real, Ron. O’bama knows that he’s just lost the keys, to the Mansion.
O’bama calls Mrs Palin a “Moose shooter.” Is that the equivalent of an abortionist?
Dennis
Wow!!! The bigger idiots are the ones voting for her. Pretending to be credible and knowledgeable will only work some of the time. Eventually your true self will show, as hers did here. Wake up America! They’re trying to pull a fast one.
David on September 9th, 2008 at 6:09 am
Excuse me, but what the HELL is she talking about? You mean to tell me that the person who is running for Vice President of the United States doesn’t know that previous to today Fannie Mae and Freddie Mac were publicly traded and owned corporations?
You mean to tell me that the person who wants to be a heart beat away from the President of the United States if something were to happen to 72 year old John McCain doesn’t know that these two entities prior today were not government run programs?
Okay, so now we are starting to understand why the Republicans are hiding her from the media and won’t let her leave John McCain’s side. SHE DOESN’T UNDERSTAND BASIC FUNDEMENTAL BUSINESS CONCEPTS AND FACTS!!!!!!!
I’m sorry. Take me out back and shoot me! This country is being duped by a fresh pretty face that gave a speech full of lies at the RNC Convention!
America…..WAKE UP!!!!
——————————————————————————————————————
Pssssttt. David, did you see the picture of that big moose, that Mrs Palin, shot?
If I may give you clue, don’t invite her to shoot you. It could be a career ending move.
We don’t want you dead. We’re going to need your income, to help pay the three Billion Dollars, that Congress has allowed Fannie Mae, to lose/extort.
Dennis
I am sure she has accomplished something in her life credible to be in this position. Base people on what they’ve done, not what they say. Mr. Obama has said a lot and has done nothing.
Democrats created the Fannie Mae and Freddie Mac problems years ago, in a well intentioned but failed effort to allow low income groups to buy houses. They stopped ALL eforts at reform until it was too late. Now they are trying to blame Bush, McCain and Republicans, everyone but themselves. That’s the Gods truth and here is the proof:
http://strategicthought-charle.....e-and.html
Charles:
“God’s truth” ?
That just nullifies your credibility right there.
Enough of this squabbling. Put Palin to the test. Have her spell potato.
Ha - this is good. What do you all think the best comment she has is, though?
I think when Couric asked her to explain how Alaska’s proximity to Russia gives her foreign policy experience, and she replied: Well ya know it sure does.
That was classic.