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A few months ago, I joyously posted a very hilarious Saturday Night Live sketch about the foreclosure crisis. Or rather, I asked a colleague to post it when the embed link wasn’t working. Whatever.
Then, in a whoosh of writing, copying, pasting and clicking (the glamorous blogging life), I forgot about it. SNL was apparently not given the same luxury. Following the sketch’s airing, the show’s producer Lorne Michaels actually apologized for the skit and had it taken down from NBC’s site and Hulu.com. Why the kerfuffle? On December 24, the New York Times outlined the whole story in a long feature piece about two of the people spoofed in the skit: Marion and Herbert Sandler, former leaders of the Center for Responsible Lending, which has been charged with making subprime loans. Anyway, Michelle Malkin‘s blog dug up the sketch and wrote out a transcript (which I can’t check because the video is obviously not available anymore). But here it is:
This is Herbert and Marion Sandler. Tell us your story.
Herbert Sandler: My wife and I had a company which aggressively marketed subprime mortgages, and then bundled them into securities to sell to banks such as Wachovia. Today, our portfolio is worth almost nothing — though at one point, it was worth close to $19 billion.
Pelosi: My God. I am so sorry. Were you able to sell it for anything.
Herbert Sandler: Yes, for $24 billion.
Pelosi: I see. So in that sense, you’re not so to speak, actual victims.
Herbert Sandler (chuckling): Oh, no. That would be Wachovia Bank.
Marion Sandler: Actually, we’ve done quite well. We’re very happy.