Quote:
Originally Posted by Imperator
And I answered you, regards our fiduciary interests already enacted, we have been on the hook for their losses since July..........if you want to pretend that every day those fat cats at fannie and Freddie were in charge was not costing us money , well go ahead, but that’s not the reality and it appears to me you’re making a very tenuous reach here…..
Look, its like giving your daughter a credit card, in her name but co- signed by you, who’s a shopoholic, knowing full well you’re gonna pick up the tab at some point in time.
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I understand the mortgage mess.... and the lending practices that caused it.
The
cause for the Government bailing out the 2 GSE's is the potential large scale economic fallout should they fail. The
effect is that now the taxpayer will foot the bill.
Palin had it exactly backwards....with the taxpayer cost as the cause and the bailout as the effect. This is not like the Sunni/Shia mixup that McCain had.... that could be forgiven because he had extensive foreign policy dealings and it could be written off the same way a grandpa calls his grandson Jimmy, "Mike" by mistake.
This is different. Palin has had no dealings in the mortgage crisis on a national level. To say that she really knew better and just had a brain fart is based on nothing.