ANOTHER GINORMOUS GAFFE FROM OBAMA: FDR'S HOME BAILOUT

NRO/CORNER:

Obama: "...we’ holding assets long enough that eventually taxpayers get it back and that happened during the Great Depression when Roosevelt purchased a whole bunch of homes,"

Obama is talking about the present bailout that will return a profit - only problem is that FDR never did such a thing.

THIS IS RIGHT UP THERE WITH OBAMA'S 57 STATES GAFFE, AND BIDEN MAKING FDR POTUS IN 1929 AND PUTTING HIM ON TV.

• IF MCCAIN HAD SAID THIS THE LEFT/MSM WOULD BE SAYING HE'S SENILE.

• IF PALIN HAD SAID IT THEY'D LAUGH AND SAY SHE' INCOMPETENT.

• BUT OBAMA SAYS IT AND GETS A PASS.

• IT'S SICKENING.

VOTE ACCORDINGLY.

*******UPDATE:

TIME - 1946 - (VIA JG):

Starting in 1933, when mortgages were being foreclosed at the rate of 1,000 a day, HOLC made more than 1,000,000 loans, totaling some $3,500,000,000. In the next three years (its lending period) it refinanced one-fifth of the nonfarm, owner-occupied, mortgaged homes in the nation. ... HOLC had foreclosed on less than 200,000 loans, most of them from 1937 to 1940. It has already sold all but 120 of the houses.

IOW: THEY BOUGHT ZERO HOMES. THEY LENT MONEY, AND FORECLOSED ON 1/5TH OF THOSE THEY LENT MONEY TO. THEY SOLD ALL THE PROPERTY THEY FORECLOSED ON - AT A LOSS WHICH WAS COVERED BY THE PROFITS THEY MADE ON THE LOANS WHICH WERE RE-PAID.

BOTTOM-LINE: OBAMA WAS WRONG; FDR DID NOT "PURCHASE A WHOLE BUNCH OF HOMES."