Congressional hearings on Wall Street bailout plan attempt to put a minority scapegoat face on sub-prime mortgage meltdown

Funny story written by Robert W. Armijo

Tuesday, 23 September 2008

Washington, D.C. - Eager to pass off the sub-prime mortgage meltdown was the White Man's Burden instead of unchecked Wall Street greed, Congressional hearings on the one trillion dollar bailout for investment bankers will feature testimony form minority faces, all too willing to go along with the President's speaking notes of their unflattering portrayal as either too poor, too stupid or both to have purchased the American dream, much less hold on to it.

Although the cause of the liquidity market meltdown will be debated for years to come, most economists agree that an over inflated speculator driven real estate market financed with adjustable rate mortgages with no down payment, or proof of income, and a mortgage industry refusing to renegotiate lower rates despite the Fed lowering the prime rate on more than several occasions, waiting instead for an American taxpayer bailout. All that had more to do with the collapse rather than who signed the escrow papers.

"I don't know if any of that is true," said a Republican Congressman. "Tell you what I do know: A fool and his money are soon parted. Now, let's get back to the business at hand and pass this 700 billion dollar humanitarian aide for our investment banker friends before they lose their vacation homes in the Hamptons."

The funny story above is a satire or parody. It is entirely fictitious.

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