HuffPo is trumpeting "Palin's First Gaffe!" as if we should put it in bronze and tuck it in the keepsake box, but it's not a gaffe. Asked about Fannie Mae and Freddie Mac, Palin said they've "gotten too big and too expensive to the taxpayers." As McClatchy points out, "The companies, however, aren't taxpayer funded but operate as private companies. The takeover may result in a taxpayer bailout during reorganization." it's not a gaffe. It's much simpler: Palin didn't know the answer. Amidst a housing crisis, she didn't know how the country's largest lenders operate, and wasn't aware that they weren't taxpayer funded. It would be interesting to find out if McCain could give an actual answer as to how the lenders work...
