It's pretty cool how words can change their meaning when put into completely different context, huh? That was your context, not Palin's. She mentioned "cutting bureaucracy" of which she used Fannie Mae and Freddy Mac as an example.

If you want to witness the original context and give an honest listen, here's the video of Palin speaking:
Palin Makes Her First Gaffe


I'm glad that you can demonstrate a better grasp of the situation than McCain's running mate.

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The world could use more Stan Ovshinsky's

Probably right - this is an utter non-issue, fodder only for the rabid partisans.

It's like Obama's 57 states comment - a simple error, pounced on by folks looking to play the "gotcha" game. Utterly irrelevant beyond that.

Matt

I would think the ACTUAL PROBLEM ITSELF would be more important rather than a gaffe by the Vice President candidate...but that would be thinking people care more about solving problems then partisan bullshit.
Thread on the subject over 24 hours old - 33 post
This thread 2 hours old - 33 post

This is why the media concentrates on partisan bullshit - because obviously it is what people pay more attention to.

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The government cannot give without first taking.

very astute point...

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I see this as legitimate criticism.

The GOP candidate for Vice President claims that the Bailout of Fannie Mae and Freddie Mac is an example of cutting beauraucracy because it was costing taxpayers too much.

I probably mischaracterized it when I called it a gaffe. It's a complete misunderstanding of reality. She should either be more versed on the most important issue of the day, or she shouldn't speak about it.

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The world could use more Stan Ovshinsky's

Just as Biden's gaffe is a demonstration of his deep-seated racism.

I don't know about you, but I would rather someone who can be briefed on an issue in office than someone who has such deep-seated racism.

Do you have any logical argument to offer on the topic?

"I know you are, but what am I?" is not an adult conversation.

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The world could use more Stan Ovshinsky's

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.

A legitimate criticism would be to ask why is CBS using the Huffington post as a source.
This isn't the first time F&F received government funds - or maybe CBS and Huffington Post in their drive to slam Palin didn't know this?
Or maybe they didn't know that F&F were involved in the Bear Stearns bailout??
Seems that CBS and Huffington Post have egg on their face.

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The government cannot give without first taking.

The "I know you are, but what am I" claim of yours is quite the strawman.

Let me be clear - crystal clear: I would much rather have someone in office who can be briefed on an issue than someone with such deep-seated racism.

You might take your own advice.

bingo.

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"The captain has turned off the `No Dubbing' sign. You are free to speak any language you choose."

Spare me. I was correct. My facts were straight.

Fannie and Freddy are GSE's that are privately owned and they are not taxpayer funded.

They are but 2 of many institutions who gave out way too many sub-prime ARMs and are now paying the price. Bear Stearns was hit by the same thing and bailed out for the same reasons.

Government sponsored enterprise - Wikipedia, the free encyclopedia
Bailing out Fannie and Freddie was not an example of cutting bureaucracy as Palin stated. They were bailed out for economic stability and to keep outstanding mortgages intact... it was not bailed out to save taxpayer money.

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The world could use more Stan Ovshinsky's

Oh - ye gods.

Stop digging yourself deeper.

This is nothing like Bear Sterns. You are unaware of the structure of these companies. You can keep pushing, but you are quite wrong.

They are government backed mortgage companies that allowed for market participation, and as a result they were allowed to set up something equivalent to their own hedge funds. It was a terrible idea and has now collapsed.

The clearest argument comes from Holman Jenkins in the WSJhttp://http://online.wsj.com/article...333956835.html

For decades they have attempted to stradlle the line between government backing and private enterprise. Now we are all paying the price.

But there is no question you are wrong.

Read you own quotes:

Their lenders grant them favorable interest rates, and the buyers of their securities offer them high prices, as the implicit involvement of the Federal government gives them a sense of financial security.

THey are not technically guaranteed - but the special deal allowed them an implict guranatee.

Go ahead...Attack the messenger...

The message is clearly there on video in Palin's own words in complete context.

People can judge for themselves whether they believe Palin knows what she's talking about. I think the posters here that have rallied in her defense have demonstrated a much deeper understanding of the Mortgage institutions than did Palin with her statements.

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The world could use more Stan Ovshinsky's