SNL summed up the entire sub prime debacle in this skit. The portrayal of the various 'vicitims' has it exactly right. You can watch this and learn more about this than in dozens of newspaper columns.
UPDATE Tuesday Oct 7 An alert Yovela Rico notes that the SNL skit is no longer on line, I checked both SNL site and You Tube and I could not find it either, gee, too correct for Washington to stand, I guess so after the stock market meltdown yesterday. Geez, censorship in our time, it reaally hit home on the
real cause of FNM collapse-Democrats refused more oversight and regulation
kind of folks getting loans – deadbeatsg
scam of creating Colslaterlized Debt Obligations and selling them as real securities, one couple laughingly said they made $19 B, so who was the victim, why er a Wachovia that bought the CDO of course
Bush in the skit is as usual seemingly clueless
Pelosi and Frank hush the entire thing up whispering Bush does not know
The Smothers Brothers television show went off the air as did they after a particular criticism of the Viet Nam war under LBJ. Apparently that was too much for Lyndon as the two had to apologize on air that next week. That was their last season and they were apparently black balled from tv as a result. Under the FCC I am wondering if this was the response by NBC which has been criticized for promoting the Obama campaign. This skit was remarkably right on blaming Dems for failing for agree to more supervision of FNM.
Now a bootleg copy has appeared.
Professor Elam 
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