NANCY PELOSI: This is Herbert and Marianne Sandler, tell us your story.
HERB SANDLER: My wife and I had a company which aggressively marketed sub-prime mortgages and then bundled them as "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.
NANCY PELOSI: Oh my God, I'm so sorry. Were you able to sell it for anything?
HERB SANDLER: Yes. For $24 billion.
NANCY PELOSI: I see. So, in that sense, you're not actually "victims," as such.
HERB SANDLER: No. That would be Wachovia bank.
NANCY PELOSI: Uh-huh.
MARION SANDLER: Actually, we have done quite well. We're very happy.
(GRAPHIC: HERBERT AND MARIANNE SANDLER: PEOPLE WHO SHOULD BE SHOT)
HERB SANDLER: We were sort of wondering why you asked us to come today.
MARION SANDLER: Anyway, it's delightful to see you, Nancy.
NANCY PELOSI: And thank you, Congressman Frank, as well as many Republicans, for helping block Congressional oversight of our corrupt activities.
BARNEY FRANK: Not at all. There's an important social contract here. When deceitful housing lenders play by the rules, and bribe members of Congress with campaign contributions, they have a right to expect that we will protect them from losing money. Now let me say something else here. Many of you are probably wondering, where did that $700 billion missing from our economy go? To help answer that, let me introduce our good friend, billionaire hedge fund manager, George Soros...
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