Middle East

Meghan McCain, appearing on the Today Show, made one of the most egotistical and ignorant statements I've ever heard.  It was stunning in its thoughtlessness and dismissive of the sacrifice of millions of people with loved ones serving in the Middle East.

When asked what she thinks when Barack Obama and others say her father doesn't "get it" she said,

I think my father gets it more than anyone.  I mean, my family — I have two brothers serving in the military. One is about to redeploy to Iraq.   My father is obviously a famous war hero. No one knows what war is like other than my family, period.

(Emphasis mine.) She then went on to point out that Sarah Palin's son, Track, is deploying to Iraq on September 11th. 

Meghan, we need to talk.

As I have previously discussed, Fannie Mae and Freddie Mac, the two giant government sponsored enterprises (GSEs) that hold or guarantee over $5 trillion (or almost half) of the nation’s mortgages, have been seeing their capital reserves depleted as housing prices have been falling across the nation.  Well, tonight, things have hit point critical, and news is being released that the executives of both GSEs are being told that the government is preparing to place the two under government control, or conservatorship.

I’m going to try to explain the full scope of what is happening here, so please bear with me if some of it seems too simplistic.