http://www.youtube.com/watch?v=eO4k1fIjivg
Ahem..
Sarah.... Freddie Mac and Fannie May are privately held. In order to fix a problem, don't you think you need to know about it as a prerequisite? Also lol@McCain clapping after this gaffe.
http://www.youtube.com/watch?v=eO4k1fIjivg
Ahem..
Sarah.... Freddie Mac and Fannie May are privately held. In order to fix a problem, don't you think you need to know about it as a prerequisite? Also lol@McCain clapping after this gaffe.
Read the news...
http://articles.moneycentral.msn.com...es-090808.aspx
The takeover may result in a taxpayer bailout during reorganization, but as of now, it is NOT taxpayer funded.
Her statement confuses me.
By the way, I don't think they are privately held anymore...
noone said it was taxpayer funded
Again, you're not very bright.
Both of these entities are federally-charter, quasi-governmental agencies chartered by Congress in the 1970's. They are a hybrid corporations that have stockholders but also have significant federal intrusion into their operation.
Palin's statements did nothing to confuse this relationship. In fact, I believe she was spot on although the sound was not very good.
I trust you are not associated with the College of Business.
I'm an asshole! What's your excuse?
Even conservative analysts acknowledged that the statement simply did not hold true.
"Heretofore, if the treasury had a balance sheet there would have been a liability but there was never a taxpayer payment before [the bailout]," said Gerald P. O'Driscoll, an economist with the Cato Institute. "[Fannie and Freddie] were not taxpayer funded. They had taxpayer guarantee, which is worth something, especially in the stock market..."
Hm... that means they were not funded by taxpayers.. right? Hmm... interesting...
IMO, she just jumped the gun with the whole takeover story.
She said that 2XFM are too expensive for the taxpayers, not that they're taxpayer funded.
As Cartek said, they're hybrid corporations. The level of support that the FedGuv has given them via regulations/taxbreaks is huge.
So did taxpayers directly fund 2XFM prior to the bailout? No. Did we fund them indirectly? Yes.
And the taxpayer guarantee that the person from Cato mentions is what gave the CEO's free reign to go out had make the billions of $$$ in bad deals.