She is one big Friking Gaffe!!!!!

Palin Makes Her First Gaffe

Gov. Sarah Palin made her first potentially major gaffe during her time on the national scene while discussing the developments of the perilous housing market this past weekend.
Speaking before voters in Colorado Springs, the Republican vice presidential nominee claimed that lending giants Fannie Mae and Freddie Mac had "gotten too big and too expensive to the taxpayers." The companies, as McClatchy reported, "aren't taxpayer funded but operate as private companies. The takeover may result in a taxpayer bailout during reorganization

Economists and analysts pounced on the misstatement, which came before the government had spent funds baling the two entities out, saying it demonstrated a lack of understanding about one of the key economic issues likely to face the next administration.
"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."

Sarah Palin: Rally 09/06/08

Fannie Mae and Freddie Mac bail-out. Be very afraid.

7 September 2008, 21:56 GMT + 2
The fact that the US government has had to step in to bail out Fannie Mae and Freddie Mac - two home loan securitisation agencies should be alarming to the world. It suggests that the depth of the credit crisis has been seriously underestimated. These two companies between them guarantee half the $12 trillion US home mortgage market. As USA Today reports:

Fannie and Freddie, which own or guarantee nearly half of the $12 trillion U.S. home mortgage market, buy mortgages from lenders such as banks and rebundle them into securities that are sold to investors. They borrow money to finance those purchases at relatively low interest rates because investors have long assumed the government stood behind their debt.But their losses have mounted as defaults and foreclosures have increased, and that in turn has led to worries about the riskiness of their debt and their ability to continue raise the capital they need to lubricate the mortgage market.Their debt and their shares are widely held by large banks, insurance companies, pension funds and foreign investors.

Be afraid, be very afraid.