Palin's Gaffe on Fannie and Freddie
- Og
We are in agreement there!
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Jim
Jim
The way I look at it, is that all of the candidates are human, and speaking everyday in different cities, so these types of slip-ups are to be expected. For either side to jump on the other for these types of mistakes is ridiculous. From that link you posted, MSLBC asked "What if Obama or Clinton said this?" I'd say the same thing: it was a pure slip-up brought on by a tough road schedule, nothing more, nothing less.
I know 57 and 47 sound a lot alike when you say UUUUUHHHH a lot!
http://www.youtube.com/watch?v=EpGH0...eature=related
http://www.youtube.com/watch?v=EpGH0...eature=related
Funny how she is actually correct, but the article makes it seem like she Forrest Gump'ed it.
At the very bottom of the article:
"There are varying explanations that could be offered for Palin's defense. As O'Driscoll noted, both Fannie and Freddie "were hybrid institutions because they had private ownership but... an implicit government guarantee which people thought at the end of the day was explicit." Meanwhile, as Baker noted, as of July the two lenders were being offered low market interest rates by the fed again, theoretically, at the taxpayer's expense. But, he added, "I kind of doubt she had any sense of that."".
She may have "Gump'ed" it. But I tell you what, I'm voting for the Republican ticket because of her.
At the very bottom of the article:
"There are varying explanations that could be offered for Palin's defense. As O'Driscoll noted, both Fannie and Freddie "were hybrid institutions because they had private ownership but... an implicit government guarantee which people thought at the end of the day was explicit." Meanwhile, as Baker noted, as of July the two lenders were being offered low market interest rates by the fed again, theoretically, at the taxpayer's expense. But, he added, "I kind of doubt she had any sense of that."".
She may have "Gump'ed" it. But I tell you what, I'm voting for the Republican ticket because of her.
http://news.yahoo.com/s/ap/20080909/...5YwM3rbAhv24cA
FARMINGTON HILLS, Mich. - Barack Obama objected to reports Monday that the ousted heads of mortgage giants Fannie Mae and Freddie Mac may receive lucrative severance packages and asked the Bush administration to ensure their "poor leadership" isn't rewarded.
"Under no circumstances should the executives of these institutions earn a windfall at a time when the U.S. Treasury has taken unprecedented steps to rescue these companies with taxpayer resources,"
Obama said in a letter to Treasury Secretary Henry Paulson and Federal Housing Finance Agency Director James Lockhart. "I urge you immediately to clarify that the agreement with Fannie Mae and Freddie Mac voids any such inappropriate windfall payments to outgoing CEOs and senior management."
Obama was reacting to a report Monday in The New York Times on a consulting firm's analysis that found departing Fannie Mae head Daniel Mudd stands to collect $9.3 million in severance pay, retirement benefits and deferred compensation under the terms of his employment contract, provided his dismissal is deemed to be "without cause."Treasury spokeswoman Brookly McLaughlin said Treasury would have no immediate response to Obama's letter.
Obama said Congress explicitly gave the Treasury Department authority to block any severance packages as part of a takeover.
"It would be a gross violation of the public trust to fail to use this authority now, while American taxpayers and American homeowners, already struggling in a weak economy, are being asked to accept an historic intervention to rescue these institutions," he said.
Paulson announced Sunday that the government would take control of both Fannie Mae and Freddie Mac, temporarily putting them in a government conservatorship, replacing their CEOs and taking a financial stake in the companies.
The move could end up costing taxpayers billions of dollars.The two companies together own or guarantee more than $5 trillion in mortgages.
Obama said he recognizes government intervention was necessary to help solve the housing crisis, and asked Paulson and Lockhart to report back on "what steps are being taken to ensure that the agreement is responsible and that Fannie and Freddie can continue to fulfill their important missions without wasting taxpayer dollars or rewarding poor leadership."
$9.3 million in severance pay, retirement benefits and deferred compensation under the terms of his employment contract, provided his dismissal is deemed to be "without cause."
I do believe that pushing the company into Government receivership qualifies as dismissal WITH cause
This is really lame. Maybe she was protecting barney frank and the other democrats vested in these mortage companies? The democrats are far more involved with this than Mrs. Palins misstatements. The democrats will stop at nothing to discredit her. It is really a shame that they are so desperate....
It's funny how people rail Fox News for being right wing but we're supposed to take the words from the Huffington Post as news. The Huffington post is commentary and extremely left leaning. If Arianna Huffington were leaning any further to the left she'd fall over. You've got to hear her as a regular on an Air America show.
This is fair game but most people don't have a clue how these mortgage companies work. I don't completely understand myself. However, there is something wrong when the private part of the company can spend other peoples money like it's nobodies buisness, knowing that the tax payers will be liable for it's solvency.
My understanding of the mortgage company leads me to agree that Freddie Mac and Fanny Mae are too big and too expensive for taxpayers. I understand that we have to bail them out to prevent a run on the banks but our government should make sure that this is the last time this ever happens.
I guess the liberals have to use anything they've got.
This is fair game but most people don't have a clue how these mortgage companies work. I don't completely understand myself. However, there is something wrong when the private part of the company can spend other peoples money like it's nobodies buisness, knowing that the tax payers will be liable for it's solvency.
My understanding of the mortgage company leads me to agree that Freddie Mac and Fanny Mae are too big and too expensive for taxpayers. I understand that we have to bail them out to prevent a run on the banks but our government should make sure that this is the last time this ever happens.
I guess the liberals have to use anything they've got.
Funny. Lately, I've noticed "Conservatives" are doing the same thing. - Og
Last edited by OgRedd; Sep 11, 2008 at 06:33 AM.




