CFP: Obama wisely embraces Palin’s mortgage advice – pushes to end Fannie and Freddie… Seems Sarah was right all along (again)

By Robert Laurie – CFP

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.”

Video: Sarah Palin: Rally 09/06/08

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.

Obama basically reiterated Palin’s comments, saying:

“But as home prices rise, we can’t just re-inflate a housing bubble. That’s the second thing I’m here to talk about today: laying a rock-solid foundation to make sure the kind of crisis we just went through never happens again.

That begins with winding down the companies known as Fannie Mae and Freddie Mac. For too long, these companies were allowed to make big profits buying mortgages, knowing that if their bets went bad, taxpayers would be left holding the bag. It was “heads we win, tails you lose.” And it was wrong.

The good news is that there’s a bipartisan group of Senators working to end Fannie and Freddie as we know them. I support these kinds of efforts, and today I want to lay out four core principles for what I believe this reform should look like.

First, private capital should take a bigger role in the mortgage market. I know that must sound confusing to the folks who call me a raging socialist every day. But just like the health care law that set clear rules for insurance companies to protect consumers and make it more affordable for millions to buy coverage on the private market, I believe that while our housing system must have a limited government role, private lending should be the backbone of the housing market, including community-based lenders who view their borrowers not as a number, but as a neighbor.

Second, no more leaving taxpayers on the hook for irresponsibility or bad decisions. We encourage the pursuit of profit – but the era of expecting a bailout after your pursuit of profit puts the whole country at risk is over.”

So, where is the media? Why aren’t they exposing Obama’s fraudulent claim that taxpayers are on the hook for Fannie and Freddie? Why aren’t they lamenting the Democrats’ decision to back such an ignorant loose cannon?

That was the slam on Palin.  What’s different here?

Oh yeah. I forgot. They’re not out to destroy Obama, and Palin was right all along.

As for Obama’s reiteration of his “I’m not a socialist” bumper-sticker slogan…  We’ll see.  If he’s really embracing more private enterprise in the housing market, that’s great – but the reality is that there’s likely another shoe to drop.

If we consult the Obama playbook, we find that this would be the perfect time to introduce a whole slew of economy-crippling addendums.  Democrats will champion the elimination of Fannie and Freddie, but the price will be a raft of anti-profit social engineering gobbledygook disguised as “pro-consumer bank regulation.”

Heck, maybe we can make “being broke” a “pre-existing condition.” That way, no one could be turned away from McMansion ownership….

What was it that caused that housing bubble again?

Robert Laurie’s column is distributed by CainTV, which can be found at caintv.com

Related:

BILL WHITTLE: Sarah Palin was RIGHT 

Sarah Palin: Obama is a LIAR ON ENERGY 

Defunding Obamacare Senators Ted Cruz, Mike Lee, and Marco Rubio Engage in a Colloquy, Plus Paul and Palin 

Sarah Palin: ObamaCare Hurts Parents of Special Needs Children

SarahPAC: Thank you for your support! Now on to 2014…. 

Chuck Heath, Jr. responds to Palin haters with his own list

And for the Spanish speakers out there: Going Rogue, Going Palin

About Ask Marion

I am a babyboomer and empty nester who savors every moment of my past and believes that it is the responsibility of each of us in my generation and Americans in general to make sure that America is as good or even a better place for future generations as it was for us. So far... we haven't done very well!! Favorite Quotes: "The first 50 years are to build and acquire; the second 50 are to leave your legacy"; "Do something that scares you every day!"; "The journey in between what you once were and who you are becoming is where the dance of life really takes place". At age 62 I find myself fighting inoperable uterine Cancer and thanks to the man upstairs and the prayers from so many people including many of my readers from AskMarion and JustOneMorePet... I'm beating it. After losing our business because of the economy and factors related to the re-election of President Obama in 2012 followed by 16-mos of job hunting, my architect-trained husband is working as a trucker and has only been home approximately 5-days a month since I was diagnosed, which has made everything more difficult and often lonely... plus funds are tight. Our family medical deductible is 12K per year for two of us; thank you ObamaCare. But thanks to donations from so many of you, we are making ends meet as I go through treatment while taking care of my father-in-law who is suffering from late stage Alzheimer's and my mother-in-law who suffers from RA and onset dementia as well as hearing loss, for which there are no caretaker funds, as I continue the fight here online to inform and help restore our amazing country. And finally I need to thank a core group of family, friends, and readers... all at a distance, who check in with me regularly. Plus, I must thank my furkids who have not left my side through this fight. You can see them at JustOneMorePet.
This entry was posted in You Be the Judge and tagged , , , , , , , , . Bookmark the permalink.

4 Responses to CFP: Obama wisely embraces Palin’s mortgage advice – pushes to end Fannie and Freddie… Seems Sarah was right all along (again)

  1. Pingback: It’s a Wrap – Ask Marion 8-04-13 – 8.11.13 Edition | askmarion

  2. Pingback: Introducing Sarah | askmarion

  3. Pingback: Did Sarah Palin Predict Russia Invading Ukraine If Obama Got Elected? | askmarion

  4. Pingback: Sarah Palin… The Case for a Palin Candidacy for President in 2016 | askmarion

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s