[media id=4788] [media id=4789] (h/t Heather) Stephen Colbert looks at the housing crisis and the suggested fix by Treasury Secretary Henry Paulson
April 1, 2008

icon Download icon Download (h/t Heather)

Stephen Colbert looks at the housing crisis and the suggested fix by Treasury Secretary Henry Paulson and tells us how to get bailed out:

Of course the big news has been the sub-prime mortgage crisis. As you may recall BearStearns went belly up when people who borrowed money to buy houses they couldn't afford failed to all win the lottery on the same day. So two weeks ago, the Fed extended a $30 billion line of credit to JPMorganChase to buy BearStearns out. Now, this bailout raised some hackles among the anti-business pro-people set....

First of all, if they're losing their house they're no longer home-owners. Okay? Problem solved. But for those who still hold a mortgage the solution is simple...[Button: sell your children]....no, no. [Button: rent your organs]...not yet. [Button: buy a bigger house]...exactly. Asking the government to care about your six-figure mortgage is like praying to Jesus to get rid of your love handles. They've got bigger problems. But sink ten billion dollars into that home and suddenly, that room full of solid gold toilets is a linchpin of the economy. Bingo. You get a bail out.

Can you help us out?

For 17 years we have been exposing Washington lies and untangling media deceit, but now Facebook is drowning us in an ocean of right wing lies. Please give a one-time or recurring donation, or buy a year's subscription for an ad-free experience. Thank you.

Discussion

We are currently migrating to Disqus

On May 14, 2022, we started migrating our comments from Insticator back to Disqus. During this transition period, some posts will have Insticator and some Disqus. For more information on the transition, as well as information regarding old C&L accounts, please see this post.


We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service for information on our posting policy.