Bank of America announced today, that in what is being described as an "accounting oversight", foreclosure proceedings have been initiated on the White House, which could eventually force the eviction of the Obama family. Some are calling it a significant symbol of the state of the housing market, while others say it is a Republican sham to embarrass Democrats with the mid-term elections looming.
"It's those damn Chinese" explained a Bank of America official. "A while back, in order to convince them to keep buying so much of our national debt, they asked for a gesture of good will, they asked us to put up the White House and the property it sits on as collateral...nobody ever thought they would actually enact that provision."
"Fingers are being pointed everywhere, no one wants to take the blame for this one." Said a prominent Washington observer and insider. "The Obama administration is blaming former President Bush...The Republicans are blaming President Obama...the House is blaming the Senate, and vice-versa....some are even saying it's the fault of The Supreme Court...The Feder Reserve has vowed to refinance, and claims that this is actually a positive thing, as we will be able to skip a month's payment on the national debt."