Thinkprogress:
Speaking in Colorado this weekend, Gov. Sarah Palin tried to explain the recent federal bailout by claiming that lenders Fannie Mae and Freddie Mac had “gotten too big and too expensive to the taxpayers.” The companies, however, “aren’t taxpayer funded but operate as private companies. The takeover may result in a taxpayer bailout during reorganization,” McClatchy noted. Palin’s satement “is somewhat nonsensical because up until yesterday there was sort of no public funding there,” said Andrew Jakobovics of the Center for American Progress Action Fund. “The ‘too expensive to tax payers,’ I don’t know where that comes from.”
And here Obama's camp reaction to McCain's ad claim:
TPM:
Here's the response, from Obama spokesperson Bill Burton, to McCain's new ad falsely claiming that Sarah Palin blocked the Bridge to Nowhere:
"Despite being discredited over and over again by numerous news organizations, the McCain campaign continues to repeat the lie that Sarah Palin stopped the Bridge to Nowhere. John McCain has voted with George Bush 90% of the time and he and Sarah Palin will continue Bush's economic policies, his health care policy, his education policy, his energy policy, and his foreign policy. McCain and Palin will say or do anything to make people believe that they will change something besides the person sitting in the Oval Office. That's the kind of politics people are tired of, and it's anything but change."
Finally, another FYI on the Freddie Mac and Fannie Mae. I made a comment to this posting that China is one of the largest shareholders for these two companies as these two companies are shareholding owned corporation:
Top Foreign Holder of Fannie Mae, Freddie Mac Bonds
WASHINGTON, Jul 11, 2008 (BUSINESS WIRE) The top five foreign holders of Freddie and Fannie long-term debt are China, Japan, the Cayman Islands, Luxembourg, and Belgium. In total foreign investors hold over $1.3 trillion in these agency bonds, according to the U.S. Treasury's most recent "Report on Foreign Portfolio Holdings of U.S. Securities."
2 comments:
As of today, the government is essentially giving Fannie Mae and Freddie Mac its checkbook to fund their businesses, where do you think the money comes from? Us, the taxpayer. Please at least do some research before making such careless comments.
Freddie Mac and Fannie Mae are a shareholder owned companies. And China is one of the largest shareholders for Fannie Mae and Freddie Mac. Henry Paulson, the Treasury Secretary and former CEO of Golden Sachs knows that this housing crisis with the government's take over of Freddie Mae and Fannie Mae will not smooth out this year. This whole mess is meant to be dumped to the taxpayers.
Let's just hope that Lehman Brothers doesn't become Bear Stearns as Lehman Brothers didn't do well in their 2nd quarter earnings.
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