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Fannie & Freddie Bailout Confuses Palin

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It seems the Republican VP candidate Sarah Palin doesn't quite have a handle on how Fannie Mae and Freddie Mac operate. Via McClatchy: "McCain's running mate, Alaska Gov. Sarah Palin, speaking in Colorado Springs, Colo., said Fannie and Freddie had 'gotten too big and too expensive to the taxpayers.' The companies, however, aren't taxpayer funded but operate as private companies." Huffington Post has more on the gaffe. But here's how you are screwed by what's going on--the latest headline from the Christian Science Monitor: "Fannie, Freddie rescue binds taxpayers to housing market." McClatchy DC]