Tuesday, October 7, 2008

When George Soros Attacks

Free speech disappears. Remember that remarkably honest and ironically funny SNL skit, accurately satirizing Dems as the root cause of the Fannie and Freddie crisis? I sure hope you do, because it has been yanked from You Tube; "vanished into thin air" as Michelle Malkin reports. Click over to her site to get the full story on Herbert and Marion Sandler, a left-wing billionaire couple that made their fortunes pushing subprime mortgages, and now fund anti-American groups such as ACORN, the ACLU and the Center for American Progress. They are closely aligned with George Soros in the goal of destroying America as we know it and transforming the country into a far-left, socialist "paradise."

The Sandlers were (hysterically) featured as avaricious lending predators in the skit (they sold their mortgage company to Wachovia for $24.2 billion in 2006), provoking an intense, angry reaction:

Sandler, 77, spoke to The Associated Press in the San Francisco office of his family’s charitable foundation the morning after NBC’s “Saturday Night Live” broadcast a skit deriding the Sandlers as predatory lenders who had duped unsophisticated borrowers and Wachovia, too. A caption shown on during the sketch skewered the Sandlers as “people who should be shot.”
Although the timing of the interview was coincidental, Sandler was seething after watching a replay of the skit on the Internet.

“I have been listening to this crap for two years,” Sandler said. “We are being unfairly tarred. People have been telling us to speak out for some time, but we didn’t think it was appropriate. That was clearly a mistake.”

Free speech for me, but not for thee -- the mantra of the Left. Or perhaps more appropriately, free speech for you as long as you agree with everything we say!

Michelle also links to Ed Lasky, who has done a thorough investigation of how the Sandlers helped cause the demise of Wachovia Bank:

Herbert and Marion Sandler, a New York lawyer and Wall Street analyst respectively, bought a small California thrift in 1963 and built it into GDW -- one of the largest thrifts in the nation. The company's business was built on adjustable rate mortgages (ARMs). These were mortgages offered at low "teaser" rates that ratcheted upward as interest rates increased. They were often sold aggressively to unsophisticated home buyers who did not comprehend the vast financial risks they were taking, or who assumed that housing prices would rise high enough to provide a profit to them when they sold their houses. They were targets for lenders peddling mortgages that should have been stamped with a skull and crossbones, for these were among the most seductive and dangerous types of mortgage.

This book of business is the core reason for Wachovia's current difficulties
The Sandlers knew their business far better than any other person could. Not only were they the founders and major owners, they famously ran the company as a husband and wife team for all these years.

So why did they happen to cash out at precisely the right time? Did they see the handwriting on the wall, realizing the massive risks inherent in the mortgages they originated throughout one of the most overheated real estate markets in the nation's history? They are not talking, but when smart people cash in some of their chips, it's rarely a good time to bet against them. Nevertheless, Wachovia bet 24 billion dollars and lost big time.

The collapse was primarily caused by the GDW purchase, which became an albatross around Wachovia's neck soon after the purchase. "Wachovia found itself in ARM's Way" was the headline of a recent Wall Street Journal article. A huge percentage of these Wachovia ARMs were made to deep subprime borrowers with very poor credit scores. Most of these were "inherited from its ill-timed acquisition of Golden West" at the end of the housing boom in 2006.

The Sandlers have started to invest their billions of dollars politically, in the manner of George Soros, sugar daddy of many far-left wing groups and an early and prominent supporter of Presidential candidate Barack Obama. Soros has developed an empire of so-called 527 groups, putatively independent political activists groups that have influence within the Democratic Party. These 527 groups include the Center for American Progress, MoveOn.Org, Human Rights Watch, Media Matters and a slew of other like-minded groups.

As for the email inquiries the NBC site has been inundated with asking where the SNL video is? Down the memory hole as well.

I beg you, if you are reading this post and feeling the same horrific chills down your spine, please share it with everyone you know who may still be on the fence, or definitely voting for Obama. This man is nothing more than a George Soros sock-puppet and electing him to the highest office in the land will ensure a steady erosion of all the freedoms we hold dear. The disappearance of this video is but one tiny example of what we can expect with an Obama presidency.

I'll say it again: WAKE UP AMERICA!

UPDATE: Cassy Fiano at Wizbang found the vid. Click over to watch, as you won't believe your eyes and ears that Saturday Night Live actually found the guts to tell the truth through comedy. I especially love the subprime borrowers and the yuppie couple!

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