Robert Laurie: Palin was right all along about Fannie Mae and Freddie Mac
Posted by Dr. Fay on August 9, 2013
Posted by Robert Laurie at Canada Free Press on Wednesday:
Obama wisely embraces Sarah Palin’s mortgage advice – pushes to end Fannie and Freddie
By Robert Laurie (Bio and Archives) Wednesday, August 7, 2013
Back in September of 2008, Sarah Palin spoke at a Colorado Springs rally. During her address, she lamented the all-encompassing power of government sponsored mortgage giants Fannie Mae and Freddie Mac. She argued that a potential McCain administration would rein the companies in. As she put it:
“John McCain has been calling for years to reform things and cut bureaucracy, even at the lending agencies that our government supports. The fact is Fannie Mae and Freddie Mac have gotten too big and too expensive to the taxpayers. The McCain-Palin administration will make them smaller and smarter and more effective for homeowners who need help.”
She was, of course, pilloried for this. Virtually every mainstream media outlet pounced, accused her of ignorance, and reminded the American people that these were not taxpayer funded entities. Taxpayers simply weren’t a factor.
Then, under Barack Obama, taxpayers proceeded to dump $180 billion into Fannie and Freddie.
Now, even Obama himself is acknowledging that Palin had it right back in ’08. No, he doesn’t mention her by name, but his remarks during a recent “home ownership” address are telling.
Obama basically reiterated Palin’s comments, saying:
“But as home prices rise, we can’t just re-inflate a housing bubble. That’s the second thing I’m here to talk about today: laying a rock-solid foundation to make sure the kind of crisis we just went through never happens again.
That begins with winding down the companies known as Fannie Mae and Freddie Mac. For too long, these companies were allowed to make big profits buying mortgages, knowing that if their bets went bad, taxpayers would be left holding the bag. It was “heads we win, tails you lose.” And it was wrong.
So, where is the media? Why aren’t they exposing Obama’s fraudulent claim that taxpayers are on the hook for Fannie and Freddie? Why aren’t they lamenting the Democrats’ decision to back such an ignorant loose cannon?
That was the slam on Palin. What’s different here?
Oh yeah. I forgot. They’re not out to destroy Obama, and Palin was right all along.