Palin Thinks Fannie and Freddie are Government

[Chicken Little]

From NY Times:

quote: Palin's Bailout Statement Raises Questions

Did Sarah Palin know what she was talking about when she made her first major statement on domestic economic policy?

In a campaign stop in Colorado Springs over the weekend, Ms. Palin addressed the biggest issue of the day – the government takeover of Fannie Mae and Freddie Mac.

"They've gotten too big and too expensive to taxpayers," said Ms. Palin, referring to the two entities. "The McCain-Palin administration will make them smaller and smarter and more effective for homeowners who need help."

But what did she mean?...[more]

[tim huntzinger]

From The People's Cube:

'Environmental shocker: Palin's cat seen scratching claws on rare Alaskan pine tree.'

'Palin's dog caught rooting in neighbor's trash.'

'New York Times enters Guinness Book of Records by fitting 807,316 Palin stories on front page.

MORE

[Friendly Bear]

quote:Originally posted by Chicken Little

From NY Times:

quote: Palin's Bailout Statement Raises Questions

Did Sarah Palin know what she was talking about when she made her first major statement on domestic economic policy?

In a campaign stop in Colorado Springs over the weekend, Ms. Palin addressed the biggest issue of the day – the government takeover of Fannie Mae and Freddie Mac.

"They've gotten too big and too expensive to taxpayers," said Ms. Palin, referring to the two entities. "The McCain-Palin administration will make them smaller and smarter and more effective for homeowners who need help."

But what did she mean?...[more]

Fannie and Freddie are under a U.S. Government Conservatorship as of this weekend.

And, their shareholders are wiped out.

Stock sold for $7 per share last Friday.

Sold for 73 cents today.  Down 89% in one trading day.

I'd say they are now part of the U.S. Government.

Exactly right.

[Hoss]

quote:Originally posted by Friendly Bear

quote:Originally posted by Chicken Little

From NY Times:

quote: Palin's Bailout Statement Raises Questions

Did Sarah Palin know what she was talking about when she made her first major statement on domestic economic policy?

In a campaign stop in Colorado Springs over the weekend, Ms. Palin addressed the biggest issue of the day – the government takeover of Fannie Mae and Freddie Mac.

"They've gotten too big and too expensive to taxpayers," said Ms. Palin, referring to the two entities. "The McCain-Palin administration will make them smaller and smarter and more effective for homeowners who need help."

But what did she mean?...[more]

Fannie and Freddie are under a U.S. Government Conservatorship as of this weekend.

And, their shareholders are wiped out.

Stock sold for $7 per share last Friday.

Sold for 73 cents today.  Down 89% in one trading day.

I'd say they are now part of the U.S. Government.

Exactly right.

Spin, spin , spin...

Did you hear the speech?  She made it sound like it's been a burden on taxpayers all this time.

Is all this time as of this weekend?

Keep telling' yourself that.

[}:)]

[Chicken Little]

Palin does not seem to know a thing about how Fannie Mae or Freddie Mac operate.  She seemingly knows nothing about the bailout.  Why do I know more about this liquidity crisis than the person who wants to be VP?   They don't need to be smaller, they aren't government.  She dusted off some cliche she found in Reagan's sock drawer and offered it up as a solution.  That's scary.

Fannie Mae and Freddie Mac are run as private businesses they need to be freakin' solvent.  They aren't and it's a VERY serious problem.  Is this the person you want on your side in these economic times?

[Rico]

"The process seems to be nearing completion..."






[}:)]

[Conan71]

quote:Originally posted by Chicken Little

Palin does not seem to know a thing about how Fannie Mae or Freddie Mac operate.  She seemingly knows nothing about the bailout.  Why do I know more about this liquidity crisis than the person who wants to be VP?   They don't need to be smaller, they aren't government.  She dusted off some cliche she found in Reagan's sock drawer and offered it up as a solution.  That's scary.

Fannie Mae and Freddie Mac are run as private businesses they need to be freakin' solvent.  They aren't and it's a VERY serious problem.  Is this the person you want on your side in these economic times?

I dunno.  I broke out in hives when I heard the Feds were taking them over to make homeownership easier to obtain.  Wait, where have we heard of that recently?  That hasn't worked so well with the gov't intervening in the free-market of housing.

I can get the point they should be smaller.  Perhaps the risks should be spread around more.  Combined, I believe they back in the neighborhood of $5 trillion in home loans.  I don't see where that's sound financially to have two companies backing that much consumer debt, regardless of what it's secured with.  In the case of the mortgage blowout it's been over-valued real estate.

Personally, I have no way of knowing what Gov. Palin meant.  But, with all the vitriol in the media and blogosphere, I'd expect it to be spun in the worst possible light.

[Conan71]

"Ms. Palin's comments on Fannie and Freddie went largely unnoticed by political reporters, who are more schooled in political rhetoric than economic theory. But left-leaning blogs have picked it up and are portraying it as a gaffe. "

Thank God the bloggers are finally on to her.  I thought they were going to give her a free ride.

[Hoss]

quote:Originally posted by Conan71

quote:Originally posted by Chicken Little

Palin does not seem to know a thing about how Fannie Mae or Freddie Mac operate.  She seemingly knows nothing about the bailout.  Why do I know more about this liquidity crisis than the person who wants to be VP?   They don't need to be smaller, they aren't government.  She dusted off some cliche she found in Reagan's sock drawer and offered it up as a solution.  That's scary.

Fannie Mae and Freddie Mac are run as private businesses they need to be freakin' solvent.  They aren't and it's a VERY serious problem.  Is this the person you want on your side in these economic times?

I dunno.  I broke out in hives when I heard the Feds were taking them over to make homeownership easier to obtain.  Wait, where have we heard of that recently?  That hasn't worked so well with the gov't intervening in the free-market of housing.

I can get the point they should be smaller.  Perhaps the risks should be spread around more.  Combined, I believe they back in the neighborhood of $5 trillion in home loans.  I don't see where that's sound financially to have two companies backing that much consumer debt, regardless of what it's secured with.  In the case of the mortgage blowout it's been over-valued real estate.

Personally, I have no way of knowing what Gov. Palin meant.  But, with all the vitriol in the media and blogosphere, I'd expect it to be spun in the worst possible light.

To be expected though; the republicans do the same with anything Obama says.  How about the 'surge is working better' remark.  How about his so-called 'Muslim' faith.  The fact he didn't wear a flag pin on a few occasions.

I know I harp on this, but when the right complains they're getting a bad deal from either the MSM or the bloggers, remember it all works conversely.

[USRufnex]

Well, it IS a gaffe.
Plain and simple.
Kind of hard to argue with a statement that is simply FALSE, no matter how you slice it.

And God knows, Republican apologist bloggers and THEIR MEDIA and talking heads will find a way to justify what she said...
and they'll blare it all over the radio every hour on the hour.... and for 59 1/2 minutes in between...

Per usual.

[Friendly Bear]

quote:Originally posted by Hoss

quote:Originally posted by Friendly Bear

quote:Originally posted by Chicken Little

From NY Times:

quote: Palin's Bailout Statement Raises Questions

Did Sarah Palin know what she was talking about when she made her first major statement on domestic economic policy?

In a campaign stop in Colorado Springs over the weekend, Ms. Palin addressed the biggest issue of the day – the government takeover of Fannie Mae and Freddie Mac.

"They've gotten too big and too expensive to taxpayers," said Ms. Palin, referring to the two entities. "The McCain-Palin administration will make them smaller and smarter and more effective for homeowners who need help."

But what did she mean?...[more]

Fannie and Freddie are under a U.S. Government Conservatorship as of this weekend.

And, their shareholders are wiped out.

Stock sold for $7 per share last Friday.

Sold for 73 cents today.  Down 89% in one trading day.

I'd say they are now part of the U.S. Government.

Exactly right.

Spin, spin , spin...

Did you hear the speech?  She made it sound like it's been a burden on taxpayers all this time.

Is all this time as of this weekend?

Keep telling' yourself that.

[}:)]

If VP Palin ever has any questions about financial intermediaries, GSE's, CMO's, derivatives, and disintermediation, which I'm sure you're already an expert about, then she can ask:

The Secretary of the Treasury.

As former chairman of Goldman Sachs, that's his profession:

Finance and banking.

He also employs a few hundred thousand Treasury Dept. employees:  

If they're not too busy checking emails, then maybe one of them can look up an answer for the future VP.....

On the other hand, today's Wall Street Journal, America's premier financial publication, seems to think that the failure of Freddie Mac and Fannie Mae are due to your Democrat pal Congressman Barney Frank:

Here's the link:

http://online.wsj.com/article/SB122091796187012529.html?mod=opinion_main_review_and_outlooks

He blocked needed reforms for at least the past decade.  Reason:  Fannie Mae Chairman and fellow democrat Franklin Raines was raining down campaign contributions to his Democrat pals.

And, Frank's palpable negligence is going to cost U.S. taxpayers about $200 billion.

THANKS, Barney.

Enjoy.


[]

[Hoss]

quote:Originally posted by Friendly Bear

quote:Originally posted by Hoss

quote:Originally posted by Friendly Bear

quote:Originally posted by Chicken Little

From NY Times:

quote: Palin's Bailout Statement Raises Questions

Did Sarah Palin know what she was talking about when she made her first major statement on domestic economic policy?

In a campaign stop in Colorado Springs over the weekend, Ms. Palin addressed the biggest issue of the day – the government takeover of Fannie Mae and Freddie Mac.

"They've gotten too big and too expensive to taxpayers," said Ms. Palin, referring to the two entities. "The McCain-Palin administration will make them smaller and smarter and more effective for homeowners who need help."

But what did she mean?...[more]

Fannie and Freddie are under a U.S. Government Conservatorship as of this weekend.

And, their shareholders are wiped out.

Stock sold for $7 per share last Friday.

Sold for 73 cents today.  Down 89% in one trading day.

I'd say they are now part of the U.S. Government.

Exactly right.

Spin, spin , spin...

Did you hear the speech?  She made it sound like it's been a burden on taxpayers all this time.

Is all this time as of this weekend?

Keep telling' yourself that.

[}:)]

If VP Palin ever has any questions about financial intermediaries, GSE's, CMO's, derivatives, and disintermediation, which I'm sure you're already an expert about, then she can ask:

The Secretary of the Treasury.

As former chairman of Goldman Sachs, that's his profession:

Finance and banking.

He also employs a few hundred thousand Treasury Dept. employees:  

One of them can look up an answer for them.....

On the other hand, today's Wall Street Journal, America's premier financial publication, seems to think that the failure of Freddie Mac and Fannie Mae are due to your Democrat pal Congressman Barney Frank:

Here's the link:

http://online.wsj.com/article/SB122091796187012529.html?mod=opinion_main_review_and_outlooks

He blocked needed reforms for at least the past decade.  Reason:  Fannie Mae Chairman and fellow democrat Franklin Raines was raining down campaign contributions to his Democrat pals.

And, Frank's palpable negligence is going to cost U.S. taxpayers about $200 billion.

THANKS, Barney.

Enjoy.


[]

Last I checked WSJ was owned by that republican shill, same owner of NewsCorp (owns Fox News by the way) Rupert Murdoch.

Just sayin.

[:O]

[Chicken Little]

Still defending Palin, FB?  My jaw dropped when you tried to claim that Palin's earmarks are all good.  You still haven't explained the difference between a good and bad earmark...remember, Palin was FOR the bridge to nowhere before she was AGAINST it.

Never thought you'd turn into a tax vampire over an ordinary, ethically-challenged Republican, FB.  She built a monument to herself that, on a per capita basis, makes our last mayors look altruistic.

From  WSJ:

quote: Palin's Hockey Rink Leads
To Legal Trouble in Town She Led

WASILLA, Alaska -- The biggest project that Sarah Palin undertook as mayor of this small town was an indoor sports complex, where locals played hockey, soccer, and basketball, especially during the long, dark Alaskan winters.

The only catch was that the city began building roads and installing utilities for the project before it had unchallenged title to the land. The misstep led to years of litigation and at least $1.3 million in extra costs for a small municipality with a small budget. What was to be Ms. Palin's legacy has turned into a financial mess that continues to plague Wasilla.

Shilling for Palin.  How sad.

[Friendly Bear]

quote:Originally posted by Chicken Little

Still defending Palin, FB?  My jaw dropped when you tried to claim that Palin's earmarks are all good.  You still haven't explained the difference between a good and bad earmark...remember, Palin was FOR the bridge to nowhere before she was AGAINST it.

Never thought you'd turn into a tax vampire over an ordinary, ethically-challenged Republican, FB.  She built a monument to herself that, on a per capita basis, makes our last mayors look altruistic.

From  WSJ:

quote: Palin's Hockey Rink Leads
To Legal Trouble in Town She Led

WASILLA, Alaska -- The biggest project that Sarah Palin undertook as mayor of this small town was an indoor sports complex, where locals played hockey, soccer, and basketball, especially during the long, dark Alaskan winters.

The only catch was that the city began building roads and installing utilities for the project before it had unchallenged title to the land. The misstep led to years of litigation and at least $1.3 million in extra costs for a small municipality with a small budget. What was to be Ms. Palin's legacy has turned into a financial mess that continues to plague Wasilla.

Shilling for Palin.  How sad.

I-44 widening between Riverside Parkway and Yale:  GOOD Earmark.

OKC Crosstown Expressway Earmark:  GOOD Earmark.

$50 million Federal Earmark for 3 Tulsa Low Water Dams.  GOOD Earmark.

Gravina AK Bridge to Nowhere:  BAD Earmark.

$Billions of Earmarks to fund faux tourist sites, memorials, museums, studies, and junkets:
BAD earmarks.

Getting any clearer, now?

[Friendly Bear]

quote:Originally posted by Hoss

quote:Originally posted by Friendly Bear

quote:Originally posted by Hoss

quote:Originally posted by Friendly Bear

quote:Originally posted by Chicken Little

From NY Times:

quote: Palin's Bailout Statement Raises Questions

Did Sarah Palin know what she was talking about when she made her first major statement on domestic economic policy?

In a campaign stop in Colorado Springs over the weekend, Ms. Palin addressed the biggest issue of the day – the government takeover of Fannie Mae and Freddie Mac.

"They've gotten too big and too expensive to taxpayers," said Ms. Palin, referring to the two entities. "The McCain-Palin administration will make them smaller and smarter and more effective for homeowners who need help."

But what did she mean?...[more]

Fannie and Freddie are under a U.S. Government Conservatorship as of this weekend.

And, their shareholders are wiped out.

Stock sold for $7 per share last Friday.

Sold for 73 cents today.  Down 89% in one trading day.

I'd say they are now part of the U.S. Government.

Exactly right.

Spin, spin , spin...

Did you hear the speech?  She made it sound like it's been a burden on taxpayers all this time.

Is all this time as of this weekend?

Keep telling' yourself that.

[}:)]

If VP Palin ever has any questions about financial intermediaries, GSE's, CMO's, derivatives, and disintermediation, which I'm sure you're already an expert about, then she can ask:

The Secretary of the Treasury.

As former chairman of Goldman Sachs, that's his profession:

Finance and banking.

He also employs a few hundred thousand Treasury Dept. employees:  

One of them can look up an answer for them.....

On the other hand, today's Wall Street Journal, America's premier financial publication, seems to think that the failure of Freddie Mac and Fannie Mae are due to your Democrat pal Congressman Barney Frank:

Here's the link:

http://online.wsj.com/article/SB122091796187012529.html?mod=opinion_main_review_and_outlooks

He blocked needed reforms for at least the past decade.  Reason:  Fannie Mae Chairman and fellow democrat Franklin Raines was raining down campaign contributions to his Democrat pals.

And, Frank's palpable negligence is going to cost U.S. taxpayers about $200 billion.

THANKS, Barney.

Enjoy.


[]

Last I checked WSJ was owned by that republican shill, same owner of NewsCorp (owns Fox News by the way) Rupert Murdoch.

Just sayin.

[:O]

Instead of reading the Village Voice,
you'd understand the world of business, banking and commerce better if you'd become a regular reader of the Wall Street Journal.

U.S. Presidents have for the past 100 years.