Sarah Palin was Right about Fannie and Freddie

Back in September of 2008, Sarah Palin spoke at a Colorado Springs rally. During her address, she lamented the all-encompassing power of government sponsored mortgage giants Fannie Mae and Freddie Mac. She argued that a potential McCain administration would rein the companies in. As she put it:

“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 Fannie Mae and Freddie Mac have gotten too big and too expensive to the taxpayers. The McCain-Palin administration will make them smaller and smarter and more effective for homeowners who need help.”

She was, of course, pilloried for this. Virtually every mainstream media outlet pounced, accused her of ignorance, and reminded the American people that these were not taxpayer funded entities. Taxpayers simply weren’t a factor.

Then, under Barack Obama, taxpayers proceeded to dump $180 billion into Fannie and Freddie.

Now, even Obama himself is acknowledging that Palin had it right back in ’08. No, he doesn’t mention her by name, but his remarks during a recent “home ownership” address are telling.

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