Video: NBC Bans Saturday Night Live's Bailout Skit on Herbert, Marion Sandler
NBC banned the Saturday Night Live bailout skit video on Wednesday, pulling the comedy parody from its website.
The skit was apart of Saturday's SNL episode as a parody of the House of Representatives' bailout bill, which passed last week after first being rejected by the House. The Senate passed it, then the House passed it the second time.
The skit aired on the same episode as Tina Fey's portrayal of Gov. Sarah Palin during the first and only VP debate.
In the SNL skit, President George W. Bush (played by Jason Sudeikis) held a press conference to address the bailout bill. He then introduced Speaker of the House Nancy Pelosi (Kristen Wiig) and Rep. Barney Frank (Fred Armisen), who both made subtle slams at the Republican Party.
Pelosi then call for testimonies from people who were affecting by the housing crisis. She then brought out two roommates (Bobby Moynihan and Kenan Thompson), who were evicted from their home after not being able to pay their mortgage. Neither of which had jobs and should not have qualified for a loan.
Pelosi then brought out a yuppy couple (Bill Hader and special guest Anne Hathaway), who were upset that could only profit from the sale of their properties for "like 10 percent more than what we paid for it".
The last couple was Herbert "Herb" and Marion Sandler (Darrell Hammond and Casey Wilson), who worked and profited from the subprime mortgate industry. "Today our portfolio is worth almost nothing, but at one point, it was worth close to $19 billion," said Sandler (Hammond).
"Oh my God, I'm so sorry," said Pelosi (Wiig). "Were you ever able to sell it for anything?"
"Yes, for $24 billion," replied Sandler (Hammond).
They said they were not in fact victims of the housing and mortgage crisis. "No, that would be Wachovia Bank," said Sandler (Hammond). "Thank you, Congressman Frank, as well as many Republicans, for helping block Congressional oversight of our corrupt activities."
Frank then introduced George Soros (Will Forte), who claimed that the $700 billion that was granted in the bill "belongs to me now". Soros converted his dollars into Swiss francs and made a short bet against the U.S. dollar. A graphic was then displayed, citing Soros as the "owner of the Democratic Party."
Although many people are familiar with Soros, a billionaire hedge fund manager, many did not know that the Sandlers were actual people.
The Sandlers purchased Golden West Savings and Loan and created Golden West Financial Corp, the parent company of World Savings Bank. Golden West was the second largest savings and loan company in the U.S., with over $125 billion in assets and 11,600 employees.
In 2006, the Sandlers sold Golden West to Wachovia for $24.3 billion and remained on the board for Wachovia. Over the last two weeks, Wachovia suffered financial duress and is currently in talks to be purchased by Wells Fargo for $15.1 billion, despite first agreeing to be bought by Citigroup.
Many critics have said that the Sandlers, whose sale caused Wachovia to write-down billions of dollars due to failed mortgages, are a primary cause to the fall of Wachovia.
Soros, the chairman of Soros Fund Management and the Open Institute, is widely known for "breaking the Bank of England" on Black Wednesday in 1992. Soros is worth $9 billion.
To view the entire SNL bailout skit video, please go to YourFindit Videos.
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