Shortly after airing, NBC pulled this video from their Web site. After much criticism and some editing, the video has reappeared. The original version of the video, which appears here, shows that NBC deleted information related to the appearance of actors portraying Herbert and Marion Sandler. The original video had a caption that described the couple as “People who should be shot.” Furthermore, the actor portraying Herbert Sandler stated “And thank you Congressman Frank as well as many Republicans for helping block Congressional oversight of our corrupt activity.” That part was edited out of the current version of the video.
Herbert and Marion Sandler sold Golden West Financial Corp, the parent company of World Savings Bank, one of the largest S&Ls in the US, to Wachovia in 2006 for $24 Billion. The video implied that Golden West extended sub-prime mortgages to unqualified lenders and then stuck Wachovia with the results thus accelerating their failure. The facts however, don’t confirm this assertion. Apparently, during their tenure at Golden West, World Savings did not make sub-prime loans. While they did provide Adjustable Rate Mortgages, these were based on real appraisals and real credit scores. Furthermore, World Savings did not bundle their loans and sell them as credit derivatives either – credit derivatives based on bad loans are one of the prime causes of the current financial crisis. Someone in the research department at SNL fucked up and the new video is clearly an attempt to mitigate the potential damages.
But other than that, it was a great attempt at bipartisanship with digs at the Democratic party controlled Congress who did in fact fail to reign in Fannie Mae and Freddie Mac. Barack Obama received a buttload of campaign contributions from them, it should be noted as did Barney Frank whose boyfriend Herb Moses, was an executive at Fannie Mae from 1991 to 1998. George Soros, the Billionaire Philanthropist, Holocaust survivor, currency speculator and darling of the Democratic Party and left-wing causes also made an appearance – he didn’t come off looking too good either but none of his dialog was altered.
Hey wait a minute. Congressman Barney Frank is Jewish. The Sandlers are Jewish. George Soros is Jewish. What the fuck? I thought we controlled the media?? Note to the Elders of Zion: I don’t care if it’s the holiday season – do not replace our regular crew of media overseers with glue huffing high school interns from Iowa ever again. This skit should never have aired! Sheesh.