Speaking in Colorado this weekend, Gov. Sarah Palin tried to explain the recent federal bailout by claiming that lenders Fannie Mae and Freddie Mac had “gotten too big and too expensive to the taxpayers.” The companies, however, “aren’t taxpayer funded but operate as private companies. The takeover may result in a taxpayer bailout during reorganization,” McClatchy noted. Palin’s satement “is somewhat nonsensical because up until yesterday there was sort of no public funding there,” said Andrew Jakobovics of the Center for American Progress Action Fund. “The ‘too expensive to tax payers,’ I don’t know where that comes from.”
Palin’s first gaffe: Claims Fannie Mae, Freddie Mac are taxpayer-funded.