Yes, Palin does indeed lack expertise on the economy. As do McCain, Obama and Biden. Obama's statements on trade and the effects of the capital gains tax rate on the economy were of equal stupidity, but of greater import - as he put them forth as part of a policy.

What is also indefensible, however, is your own lack of awareness regarding this topic. Get your facts straight.

This is not an example of a private corporation being bailed out by taxpayers. These companies were an attempt to combine private enterprise with implict government backing: a combination of the market and the state that would allow for risk because the taxpayer would always be there.

It is this combination that has proven to be a disastrous failure.

The takeover by the Fed may be defended because of the extraordinary risks involved in a collapse. However, they have made a great mistake in allowing the weird hybrid structure to remain intact. Eighty percent has been nationalized, but a small portion has been allowed to remain tied to the markets. This was very stupid.

Lobbyists from both parties as well as politicians have disgraced themselves here. For years these two-headed behemouths have been heading for a fall.

They are most certainly not examples of private enterprise run amok. If they had been, they would have dropped dead a long time ago.