300 reasons I would vote for used gym socks if it would keep John McCain out of office

September 9, 2008

Reason #96

Filed under: Crazypants,Mortgage Crisis,Palin — 300reasons @ 3:24 am

Okay, here’s the thing. Fannie Mae and Freddie Mac were privately owned and run companies that found themselves in financial trouble because failure to regulate (primarily by Republicans in power) allowed them to guarantee more loans than was financially safe.

Until yesterday, these companies received no federal aid. The reason the Bush Administration has been forced to bail out Fannie Mae and Freddie Mac to avoid total economic collapse is because these companies were completely unregulated and unsupported by the federal government, with the checks and balances that give its programs financial protection.

In other words, Palin is either lying, or she lacks a basic understanding of the mortgage crisis.

Say, do you think our next president might have to somehow address the mortgage crisis?

H/T Huff Post

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