WashingToneLocian Wrote:
-------------------------------------------------------
> "McCain's running mate, Alaska Gov. Sarah Palin,
> speaking in Colorado Springs, Colo., said Fannie
> and Freddie had "gotten too big and too expensive
> to the taxpayers." The companies, however, aren't
> taxpayer funded but operate as private companies.
> The takeover may result in a taxpayer bailout
> during reorganization."
As usual, lets take a quote out of context and place it in a light that makes it sound like that is all she said...
http://www.bloomberg.com/apps/news?pid=20601087&sid=a_5llFeSxDas&refer=home
Quote
McCain's running mate, Alaska Governor Sarah Palin, said in Colorado Springs today that Fannie and Freddie ``have gotten too big and too expensive to the taxpayers.'' McCain, she said, ``will make them smaller and smarter and more effective for homeowners who need help.''
And here is another one...
http://www.businessweek.com/ap/financialnews/D931F7P00.htm
Quote
At a rally in Colorado Springs, Col., Republican vice presidential nominee Sarah Palin said, "They've gotten too big and too expensive to the taxpayers. The McCain-Palin administration will make them smaller and smarter and more effective for homeowners who need help."
Sounds more like she was talking about the fact that most taxpayers were unable to get loans from these guys - in reading the news over the last couple of weeks, one of the issues was that no matter how much they lowered the interest rates, these guys were still unable to offer mortgages at much lower than 6% due to the bond markets and other issues that impacted their ability to get money to lend. Thus the reason they were too expensive to the taxpayers - the homeowners that need help - one of the reasons these organizations were formed in the first place.
But hey, leave it to the fact machine to post something blatantly false in its characterization.