Palin's First Gaffe...Awww....Good Thing Someone Had a Camera

Here is an article from the Huffington Post (yes, I know, they're lefties) talking about Palin's first "gaffe" in making the comment about the takeover of Fannie Mae and Freddie Mac as having "gotten too big and too expensive to the taxpayers."

The audio is really quiet on the video clip, so here's a transcript of the full quote:

A man with such strength of heart understands people, and the problems that we're all facing these days. He understands what to do about job losses and high energy prices and mortgage failures, the problems faced by hard-working, middle-class Americans--all of us! And that's why 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 that Fannie Mae and Freddie Mac--they've gotten too big and too expensive to the taxpayers. (cheers) The McCain-Palin administration will make them smaller and smarter and more effective for homeowners who need help.

And McCain agreed with her.

Why is this such a big deal? Well, because Fannie and Freddie aren't even under government control...yet. See, they just signed a deal to LET the government take control and will NOW be taxpayer FUNDED, whereas before it was taxpayer GUARANTEED, meaning that they could be bailed out by tax funds or lowered interest rates in extreme circumstances. Maybe that's what Sarah Plain was talking about, right? Riiiiggggghhtttt.....

The rub here is that, if Palin is going to be VP, shouldn't she know what she's talking about BEFORE she gets into office?

A favorite quote from this article:

"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."

And, does the fact that McCain just nodded his head in agreement scare anyone else? Anybody...anybody?