What you need to know about the Freddie/Fannie bailout
I think it’s underestimating Sarah Palin to say that her comments about Fannie Mae and Freddie Mac were a “gaffe” or even ignorance. It’s becoming obvious to me that she was accelerated up the Republican pecking order at light speed for the very simple reason that she can lie her ass off without flinching. This debacle, as Ezra’s post demonstrates, has the potential to really show why privatization schemes are just a bad idea. It also opens up the possibility that government bailouts should be tied to government ownership of any companies that can’t quit bleeding money. Is it so crazy to think of the U.S. buying up airlines instead of bailing them out? They need someone to lie to the people and tell them up is down, and so they’re leaning on the pro to do it.