It seems that a Saturday Night Live sketch in 2008 lampooned prominent donors to the Center for American Progress (CAP), the liberal think tank founded by Clinton insider John Podesta. The sketch, it’s worth noting, also cruelly mocks George W. Bush. Of course, being laughed at on late-night TV is such a commonplace for conservatives that they take it for granted: It’s like the sun rising in the east and setting in the west. It’s such an unusual event for liberals, on the other hand, that it sent CAP into a tizzy.
Here’s the bit that got under their skin. At a mock C-SPAN press conference on the financial bailout, “Nancy Pelosi” is welcoming a parade of victims to the mike. An older couple steps up, and she says,
“This is Herbert and Marion Sandler. Tell us your story.” Herbert Sandler: “My wife and I had a company which aggressively marketed subprime mortgages, and then bundled them into securities to sell to banks such as Wachovia. Today, our portfolio is worth almost nothing—though at one point, it was worth close to $19 billion.” Pelosi: “My God. I am so sorry. Were you able to sell it for anything?” Herbert Sandler: “Yes, for $24 billion.” Pelosi: “I see. So in that sense, you’re not, so to speak, actual victims.” Herbert Sandler (chuckling): “Oh, no. That would be Wachovia Bank.” Marion Sandler: “Actually, we’ve done quite well. We’re very happy.” Herbert Sandler: “We were sort of wondering why you asked us to come today.” Marion Sandler: “Anyway, it’s delightful to see you, Nancy.” (Kisses Pelosi.)
As the Free Beacon‘s Lachlan Markay points out, the SNL bit was far from unfair. The Sandlers’ Savings & Loan “was among the first to sell a type of adjustable-rate mortgage that the New York Times later dubbed ‘the Typhoid Mary of the mortgage industry.’ The Sandlers’ 2006 sale of their Golden West Financial to Wachovia for more than $25 billion was widely seen as a primary cause of the bank’s near-collapse two years later.”
But there was no laughter at the Center for American Progress. As Markay notes,
In a series of emails following the sketch, dismayed CAP staffers, including its then-president John Podesta, concocted conspiracy theories about who might be behind the skit and discussed ways to enlist elected officials to push back on its portrayal of CAP donors. . . . “Talked to Herb. They are obviosly [sic] upset,” Podesta wrote of the skit. “Weird that snl should pick them out. They did soros too so maybe this is one of those right wing writers. . . . At any rate, we should figure out a way to push back,” he added.
And push back they did! Because that’s what think tanks are for, right? Writes Markay:
CAP senior fellow Laura Nichols said she planned to enlist powerful congressional staffers to push back on the SNL skit. “I’m going to loop in pelosi peeps as her character intro’d them and they r her constituents,” she wrote. [CAP cofounder and executive vice president Sarah] Wartell said that she had reached out to Martin Eakes, the president of the Center for Responsible Lending, an advocacy group to which the Sandlers had contributed. The [email] thread ended with Wartell calling a meeting for the following morning to plot strategies for countering their donors’ satirical portrayal on a sketch comedy show.
Mamas, don’t let your babies grow up to be liberal think-tankers.
