via HuffPo Sarah Palin, speaking today in Colorado, made her first "major" gaffe as Vice Presidential candidate--revealing to the crowd she had no idea what Freddie and Fannie Mac did.
Speaking before voters in Colorado Springs, the Republican vice presidential nominee claimed that lending giants Fannie Mae and Freddie Mac had "gotten too big and too expensive to the taxpayers."
Fannie and Freddie Mac were, of course, private organizations that were not funded by taxpayer money. Of course, the bailout will come from federal funding, but the fact that she has no idea why these two major organizations are being bailed out speaks volumes. Why would we want someone who has no idea what some of the main parties of the credit crisis are be in a position to try and mitigate said crisis?
Personally, I hope her next Gaffe involves a reporter asking her who the President of Russia is, to torpedo her experience-through-proximity argument.