I’m torn. I want so much to write here about this “experienced executive” V.P. candidate that doesn’t know how Fannie Mae/Freddie Mac work, but the takeover itself is more important. Or is it? Regardless, suffice to say that Mrs. Palin, who clearly didn’t know the material, made up an answer that dovetailed nicely with her ideological predispositions. (Government bad/market good)
Why, exactly, are we bailing them out? Those of us that bought homes within our means will be paying to shore up companies that profited, obscenely, from the greed and stupidity of the largely financially illiterate American home-buyer. I’ll admit that this issue is way above my pay-grade (along with, when life begins) so I am open to be persuaded that this bailout is necessary. Bottom line for me? At the end of the money-trail…who benefits? If its investors…tough.
So, financially astute readers…fire away.
And, yea, why aren’t the Libertarians all over this?
Had to add this: (h/t Whites Creek Journal)