Palin's point was obviously that 1. Fannie and Freddie have always been a huge liability for taxpayers, because 2. everyone knew that the government would bail them out if they failed, and 3. a McCain-Palin administration would use the government's new authority over Fannie and Freddie to shrink these beasts down to size and protect taxpayers in the future.
Bingo. She made no mistake here.
Next watch Saracuda dive into these yammering mollusks with a lecture on how to interpret the English language.
exactly. they don’t operate like private companies. This is what happens when you privatize the profits and socialize the risks.
Freddie/fannie was an key part of Bush’s “compassionate conservatism.” It’s another way for mccain to distance himself from Bush, along with spending and the value of the dollar.
Exactly. I wish people would read the story and know what it’s about before posting but some of us like to live dangerously and post first. ;)
Absolutely. Fannie and Freddie have always been a recipe for disaster - socialized risk with capitalist reward. How could we expect companies that would bare no risk if they failed and all of the gain if they succeeded to NOT cost taxpayers like us billion and trillions.