“Gov. Sarah Palin made her first potentially major gaffe during her time on the national scene while discussing the developments of the perilous housing market this past weekend.

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.”

The companies, as McClatchy reported, “aren’t taxpayer funded but operate as private companies. The takeover may result in a taxpayer bailout during reorganization.”

Economists and analysts pounced on the misstatement, which came before the government had spent funds bailing the two entities out, saying it demonstrated a lack of understanding about one of the key economic issues likely to face the next administration.

“You would like to think that someone who is going to be vice president and conceivable president would know what Fannie and Freddie do,” said Dean Baker, co-director of the Center for Economic and Policy Research. “These are huge institutions and they are absolutely central to our country’s mortgage debt. To not have a clue what they do doesn’t speak well for her, I’d say.”

I Dunno

Who’s really not in favor of clean water? Sarah Palin. and even more mess below.

As The Hill reports, “Governor Palin has … opposed a crucial clean water initiative.”

Alaska’s KTUU explains: “It is against the law for the governor to officially advocate for or against a ballot measure; however, Palin took what she calls ‘personal privilege’ to discuss one of this year’s most contentious initiatives.”

Palin said, “Let me take my governor’s hat off just for a minute here and tell you, personally, Prop. 4 — I vote no on that.” And what is that? A state initiative that would have banned metal mines from discharging pollution into salmon streams.

She also approved legislation that let oil and gas companies nearly triple the amount of toxic waste they can dump into Cook Inlet, an important fishery. It looks like being an avid outdoorsperson doesn’t mean Palin really has the health of watersheds, natural resources or our environment at heart.

Most Disturbing Beliefs

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There’s yet another potential scandal dogging Gov. Sarah Palin as she continues to avoid speaking to the media. Seems she is refusing to release about 1,100 e-mails between herself and her aides that a Republican activist claims violate ethics and hiring rules. Of course, Palin and her cronies are crying “executive privilege,” but what is undermining that argument is that the governor’s husband Todd Palin was copied on many of the e-mails. Since he has no position in state government, but is just another upstanding Alaskan, the argument for privilege is moot.

Secret e-mail