On Sunday the federal government seized the “PRIVATE” home lending institutions Fannie Mae and Freddie Mac inÂ the largest federal bailout of private institutions ever. I thought Republicans stood for “free markets” and a “you takes your chances” economic policy. Of course, they did just guarantee the purchase of Bear Stearns with $30 billion in financing when they fell apart.
But the fact that Sarah Palin doesn’t know that the federal government wasn’t spending a dime on Freddie and Fannie until the corporations were seized Sunday is simply more evidence that Sarah Palin is dumber than dead wood, clueless as John McCain,Â and clearly not ready for prime time much less ready to lead the country.
From Huffington Post:
“You would like to think that someone who is going to be vice president and conceivable president would know what Fannie and Freddie do,” said Dean Baker, co-director of the Center for Economic and Policy Research. “These are huge institutions and they are absolutely central to our country’s mortgage debt. To not have a clue what they do doesn’t speak well for her, I’d say.”
The McCain Campaign has been claiming that Governor Palin is qualified to lead the country if McCain were to be unable to complete his term if elected President. Cindy McCain has claimed that since Alaska is near Russia, Palin has sufficient foreign policy experience. John McCain claims that Palin is a reformer, a maverick, an expert on energy policy. Well she isn’t any of those things, but I guess the Republicans think if they say it often enough it will come true.