Tuesday, October 28, 2008

"Deal or No Deal" Banker Implicated in Market Collapse

He lurks on the second floor of an NBC sound stage. No one has seen him; no one knows his name. He communicates only by telephone. A shadowy stranger whose secret identity is maintained by those who profit from his activity.

But now the House subcommittee on Financial oversight would like to have a few words with the mystery financier. Allegations have placed the man known only as "the Banker", co-star of the hit TV game show "Deal or No Deal", at the heart of the financial mess that has caused the stock market to drop to levels not seen since the depression.

A letter sent from Representative Dennis Kucinich (D-Ohio) to House Finance Committee Chairman Henry Waxman (D-District of Columbia), urged that the probe should focus on the banker's irresponsible spending. According to the letter, NBC claims that the Banker has given away over $20 million dollars to perfect strangers -- without checking collateral. When this website asked NBC how much of the $20 million they expect to get back, the spokesman, plainly embarrassed, said "Nothing. Not a dime."

Experts blame the market collapse on three critical factors:
  • Large financial companies holding a significant amount of securities backed by sub-prime mortgages
  • Lack of administrative oversight over both the Freddie Mac and Fannie Mae agencies
  • The urge to hang with Howie Mandel

Treasury Secretary Pauslon has taken steps to ensure that the billions earmarked for the bail-out don't wind up on the show. "We don't want to put taxpayer's money in some poor shlep's case," stated Paulson.

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