They say a picture is worth a thousand words. And for Democrats 700 billion is worth a thousand laughs. That's Nancy, Barney, Christopher and Harry sharing a good chuckle at having just spent a whole lot of your money. It's appropriate that Barney Frank is front and center in this comedy act. After all it was his House Circus, I mean House Committee, that oversaw Fannie and Freddie. This was the same Barney who ridiculed Republicans for suggesting there were any problems with Fannie Mae. Let's review: 1. President Carter creates a program to make home ownership available to low income people though Fannie Mae. 2. President Clinton makes changes to the program to make home ownership even more available to low income people through Fannie Mae. 3. Former Clinton White House Budget Director, Franklin Raines, becomes CEO of Fannie Mae. Raines cooks the books and as a result receives tens of millions of dollars in bonuses. 4. Raines is kicked out and replaced by future Obama campaign insider, Jim Johnson, who runs Fannie Mae into the ground and also walks away with millions. 5. The Bush Administration and House and Senate Republicans (including Sen. McCain) sound alarm bells on problems at Fannie Mae. They are attacked by House and Senate Democrats (including Barney Frank) for using "scare tactics". 6. Wall Street buys mortgages from Fannie Mae not knowing their values have been cooked. They bundle them into securities. 7. As interests rate rise and gas price go up many home owners begin to default on their loans. 8. Wall Street and the rest of the world begin to realize the mortgage backed securities are worthless. 9. The taxpayer bail out Bears Stern, Fannie and Freddie and AIG. The taxpayer is put on the hook for another 300 billion to help home owners who are being foreclosed on. 10. Paulsen tell us we need 700 billion or more or the world ends. And the Democrats laugh all the way to the bank.