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Sep 17, 2010
09/10
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this is just what fannie mae and freddie mac know about. they buy these loans in large bulk quantity so once they investigate the 15 trillion dollars worth of loans they are sitting on they will probably find a lot more junk their going ask lenders to buy back. so we know that this is a huge problem but why is the government not forcing this issue, why is this going on for more than three months? according to the report they are saying that we just asked the banks nicely for the money back and they have said no. the next step is litigation. the authorization to sue the bank is going to come from congress and as senator durbin said the banks own congress so you are not going to see a lot of people in congress with the spine to say go ahead and sue these banks. realistically do you think in the end these banks are actually going to buy back these bad loans that they have dumped on fannie and freddie? if congress grows a spine and says we will not stick the taxpayers with this debt we are going to make the banks take these back then that could
this is just what fannie mae and freddie mac know about. they buy these loans in large bulk quantity so once they investigate the 15 trillion dollars worth of loans they are sitting on they will probably find a lot more junk their going ask lenders to buy back. so we know that this is a huge problem but why is the government not forcing this issue, why is this going on for more than three months? according to the report they are saying that we just asked the banks nicely for the money back and...
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Sep 18, 2010
09/10
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. >> next, a hearing on the mortgage holding companies, fannie mae and freddie mac. both have been under government control since the 2008 financial crisis. last month, financial services committee chairman said freddie and fannie ought to be abottle issued. this subcommittee hearing is 2 1/2 hours. >> without objection, all members' opening statements will be part of the record. pursuant to committee rules and prior discussions, each side will have 15 minutes for opening statements. without objection, all members' opening statements will be made part of the record. i yield to myself five minutes. good morning. we meet today to focus on many strat fannie mae and freddie mac and the federal agencies to limit capital infusions into the two housing enterprises. this hearing is also the sixth in a series that we have so far convened this congress to examine the future of housing finance. two years have now past since the federal housing agency placed fannie mae and freddie mac under conserve toreship. at the request of then treasure secretary henri paul sen, this law pro
. >> next, a hearing on the mortgage holding companies, fannie mae and freddie mac. both have been under government control since the 2008 financial crisis. last month, financial services committee chairman said freddie and fannie ought to be abottle issued. this subcommittee hearing is 2 1/2 hours. >> without objection, all members' opening statements will be part of the record. pursuant to committee rules and prior discussions, each side will have 15 minutes for opening...
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Sep 19, 2010
09/10
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WBAL
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. >> bill, you recently testified in washington about your ideas to fix fannie mae and freddie mac. you called for forming a giant government agency with tighter regulations. is your idea getting any traction? can you explain how it may work? >> well, it's not getting much traction, but the fact is that 95% of the mortgages these days that are generated and that are issued are basically being guaranteed by fannie mae and freddie mac. that's the reality. and the reason it's the reality is that in terms of the private mortgage market, that lenders are requiring down payments of 20, 30, and in some cases 40%. and so the cost of that financing is prohibitive. my point is simply it's better to have the private market in the housing market in terms of finance, but it's not likely to be a significant influence. and it will be much more costly. and so for the next few years, for the next two, three, four, five years, let's examine possibilities in the out years, but let's maintain government influence, because the financing is much, much cheaper. the difference is 4% in terms of agency fina
. >> bill, you recently testified in washington about your ideas to fix fannie mae and freddie mac. you called for forming a giant government agency with tighter regulations. is your idea getting any traction? can you explain how it may work? >> well, it's not getting much traction, but the fact is that 95% of the mortgages these days that are generated and that are issued are basically being guaranteed by fannie mae and freddie mac. that's the reality. and the reason it's the...
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it's been two years since mortgage finance giants fannie mae and freddie mac. received billions of dollars from the u.s. government they continue to report losses and receive money how do you feel about taxpayer dollars continuing to support them this week let's talk about bad they're white collar criminals. we shouldn't continue to give them money then probably no. no what do we do. we help each other it's hard to say if they've helped. because it's hard to tell whether. what the result would have been if we didn't do anything at all so i think in terms of my business i think that some of the bailouts have been very successful for maintaining business in the in the role of the system so the velocity of cash in the economy but i think in the long run wolf will find out we have to keep the housing market going i think there is such a low keeping the housing market going if we didn't support them any more it would collapse you think either be a lot harder a lot more difficult and it might collapse i mean it's struggling hard enough as it is right now so why are p
it's been two years since mortgage finance giants fannie mae and freddie mac. received billions of dollars from the u.s. government they continue to report losses and receive money how do you feel about taxpayer dollars continuing to support them this week let's talk about bad they're white collar criminals. we shouldn't continue to give them money then probably no. no what do we do. we help each other it's hard to say if they've helped. because it's hard to tell whether. what the result would...
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it's been two years since mortgage finance giants fannie mae and freddie mac. received billions of dollars from the u.s. government they continue to report losses and receive funds how do you feel about taxpayer dollars continuing to support them this week let's talk about that the white collar criminals. we shouldn't continue to get the money then probably no. no what do we do. we help each other it's hard to say if they've helped. because it's hard to tell whether. what the result would have been if we didn't do anything at all we have to keep the housing market going i think there is such a giving the housing market going if we didn't support them anymore it would collapse you think either be a lot harder or a lot more difficult than it might collapse and. we're so far into this might as well give them the money save everybody else does it matter that this reuters asked or any way i mean you know where eighty billion in the hole or ninety billion with them they made money out of the deal so freddie and fannie try and get out of it as best as possible the bot
it's been two years since mortgage finance giants fannie mae and freddie mac. received billions of dollars from the u.s. government they continue to report losses and receive funds how do you feel about taxpayer dollars continuing to support them this week let's talk about that the white collar criminals. we shouldn't continue to get the money then probably no. no what do we do. we help each other it's hard to say if they've helped. because it's hard to tell whether. what the result would have...
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how many of the homes in america are controlled by fannie mae and freddie mac. the vast majority they are not allowing market prices to exert themselves they're not allowing the market to tree down to reflect the demand there artificially keeping prices high for housing in america it's a it's a zombie economy for this very reason the only thing that anyone creating policy in the u.s. government should do right now is to let housing fall to where supply is equal to demand stop subsidizing housing immediately all you're doing is prolonging the agony obama you know see this for allowing fannie mae and freddie mac. to continue to support house prices as you as you are doing you are a sadist sir you deserve it in the sun house of sadism but there is albeit with credit cards and these credit cards are refusing it gives them purchasing power that would not otherwise exist sending false signals to the market so people keep on producing stuff for this economy where the people are zombies. but it also is like a sigh fi futuristic war movie it's like they have zombies who
how many of the homes in america are controlled by fannie mae and freddie mac. the vast majority they are not allowing market prices to exert themselves they're not allowing the market to tree down to reflect the demand there artificially keeping prices high for housing in america it's a it's a zombie economy for this very reason the only thing that anyone creating policy in the u.s. government should do right now is to let housing fall to where supply is equal to demand stop subsidizing...
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mac. and wall street then the party ended the house prices collapsed and you're just left there with a falling wage no asset no network and no country. i mean that's that's that's that's one of the spending power came from the borrowing from debt that's all we're talking about the the the american experience of shopping came all not from wages they haven't worked a day in their life for decades they've been living along just of the chinese for decades they don't go work anymore. they're both america's balms you know welfare bombs or war for bombs they've got nobody who's working a day in their life any more so their incomes are falling but they keep on consuming so look what happens in europe in greece when incomes are falling people stop consuming and look what happens greeks get cheaper ikea shelves us prices drop and recession ikea slashed the price of billy bookshelves whatever those are in greece by twenty two percent france sect coachella in a statistician at the o.e.c.d. explains fo
mac. and wall street then the party ended the house prices collapsed and you're just left there with a falling wage no asset no network and no country. i mean that's that's that's that's one of the spending power came from the borrowing from debt that's all we're talking about the the the american experience of shopping came all not from wages they haven't worked a day in their life for decades they've been living along just of the chinese for decades they don't go work anymore. they're both...
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Sep 16, 2010
09/10
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treasury securities and securities of freddie mae and freddie mac. so how do you draw the link between this and the inflated housing bubble? the difference that's important to realize is if that money were not spent on foreign oil, it would have still been spent on energy, but it would have been spent on energy in the united states. domestically produced energy. americans that would have been receiving those funds spend their money differently than what overseas governments tend to spend on. so rather than buying mortgage- backed securities and treasury securities, individuals will ultimately be buying stocks, real estate and consumer driven assets in the u.s.. so foreign money was part of the big reason why we had a housing bubble. it is, in fact it drove liquidity into the housing sector that otherwise would not have been there. it depressed interest rates would help increase liquidity. and ultimately there's more credit available to individual investors than otherwise would have been based on the fundamentals of the market. ok, we know there's bee
treasury securities and securities of freddie mae and freddie mac. so how do you draw the link between this and the inflated housing bubble? the difference that's important to realize is if that money were not spent on foreign oil, it would have still been spent on energy, but it would have been spent on energy in the united states. domestically produced energy. americans that would have been receiving those funds spend their money differently than what overseas governments tend to spend on. so...
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Sep 8, 2010
09/10
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KRCB
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fannie mae and freddie mac. they were as ropacious as any group. and this is dealt with in great detail in my book which takes very few prisoners on either side in either party. but fannie mae and freddie mac, with the support of people like bonnie frank and even many in the black caucus said, no, no don' tch fane ma and freddie mac, they'll help poor people get into their homes. sure, a lot of minorities got in their homes. they lost their savings. they're now hurting. they're being foreclosed so the dream was not a have, have not thing. it was supposed to be emancipation of americans who were supposed to get a piece of the pie. so the first thing is if we do this thing of keeping people's homes, we're helping a lot of working people and poorer people. this is not something to benefit the rich. the rich made out lik bandits in this kind of market. t secondly i we can'tut floor on housing foreclosures if we can't stem this bleeding right now, we're not going to get consumption back. if we don't get consumption back, people consuming based on their
fannie mae and freddie mac. they were as ropacious as any group. and this is dealt with in great detail in my book which takes very few prisoners on either side in either party. but fannie mae and freddie mac, with the support of people like bonnie frank and even many in the black caucus said, no, no don' tch fane ma and freddie mac, they'll help poor people get into their homes. sure, a lot of minorities got in their homes. they lost their savings. they're now hurting. they're being foreclosed...
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Sep 15, 2010
09/10
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host: you were at freddie mac from 1995 to 2003 and fannie mae in 1994. should these agencies be dissolved and have something new? guest: actually, there are many good proposals on the table. there is one that is being looked at closely by the housing policy council. but i think that we really need to look at this whole hisically and ask ourselves. we have mortgage interest deductibility. we have the federal home loan bank system which i'm not hearing much in terms of reform but needs reform. i also think that both fannie mae and freddie mac we need to think about the rules under which they actually operate, but you cannot pull the rug from underneath the housing market. so it is a tricky business. there is a shorter-term plan that needs to happen and shorter-term plan in terms of using the institution toss keep the mortgage market steablized. host: a tweet from a client. guest: if there are institutions that have operations within the united states, it will be monitoring that from a data standpoint as well and analytical standpoint. the other thing that
host: you were at freddie mac from 1995 to 2003 and fannie mae in 1994. should these agencies be dissolved and have something new? guest: actually, there are many good proposals on the table. there is one that is being looked at closely by the housing policy council. but i think that we really need to look at this whole hisically and ask ourselves. we have mortgage interest deductibility. we have the federal home loan bank system which i'm not hearing much in terms of reform but needs reform. i...
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Sep 18, 2010
09/10
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>> fannie mae and freddie mac are not in a crisis. >> cheryl: barney frank about to repeat history? what the massachusetts democrat is pushing fannie and freddie to do now that some say will make the last crisis look like a picnic. hey, lawrence, my parents want to talk to you. oh. about what? uh, they don't really think you're an exchange student. what? they think you're a businessman, using our house to meet new clients in china. for reals, player? [ woman saks chinese ] they overheard a phone call. speaks chinese ] something about shipping with fedex to shanghai. and then you opened a bottle of champagne. that was for a science project. [ man and woman speaking chinese ] i'm late for..occer... rehearsal. [ man speaks chinese ] you and i are cool? i'll be home by curfew. [ male announcer ] we understand.® you need a partner who can help you go global. fedex. >> cheryl: coming up, barney frank at it again to call for fannie and freddie to back more home loans. didn't that get us in the mess in >>> hello, everybody. i'm uma pemmaraju in washington. lisa murkowski has now re-entered
>> fannie mae and freddie mac are not in a crisis. >> cheryl: barney frank about to repeat history? what the massachusetts democrat is pushing fannie and freddie to do now that some say will make the last crisis look like a picnic. hey, lawrence, my parents want to talk to you. oh. about what? uh, they don't really think you're an exchange student. what? they think you're a businessman, using our house to meet new clients in china. for reals, player? [ woman saks chinese ] they...
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Sep 10, 2010
09/10
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KQED
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freddie mac says the average rate for a 30-year fixed loan was 4.35%, up from 4.32% the week before. the average rate on a 15-year loan was unchanged at 3.83%. that's the lowest rate on record since freddie mac started tracking the 15-year in 1991. >> tom: the food and drug administration is putting makers of electronic cigarettes on notice-- it claims they use illegal marketing practices. the f.d.a. sent letters to five companies today saying, because e-cigarettes are marketed as tools to help people quit smoking, they should be regulated as drugs. the f.d.a. wants the companies to prove e-cigarettes are safe, and whether those devices are effective in helping people stop smoking. so far, no comment from the companies. bupupututuuuuuu? >> susie: political analysts are predicting a divided congress after the november elections. that could be a good thing-- tonight's commentator explains why washington thrives on gridlock. he's todd buchholz, author of "lasting lessons from the corner office." >> what's more boring than a bunch of pundits bemoaning the lack of bipartisanship in was
freddie mac says the average rate for a 30-year fixed loan was 4.35%, up from 4.32% the week before. the average rate on a 15-year loan was unchanged at 3.83%. that's the lowest rate on record since freddie mac started tracking the 15-year in 1991. >> tom: the food and drug administration is putting makers of electronic cigarettes on notice-- it claims they use illegal marketing practices. the f.d.a. sent letters to five companies today saying, because e-cigarettes are marketed as tools...
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Sep 2, 2010
09/10
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CSPAN
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you can see that with the results of fannie mae, a freddie mac, and countrywide. this allowed a monoline institution go into a far larger institution that had diversified risk. the issue with wachovia is that it had a lot of other risks that exposed it to sensitivities in the market and liquidity in that market. one of the questions you had about whether we missed anything, the toughest thing as a supervisor and having to go to my board of directors, it is tough to not have a viable options for them. one of the things i do not think that we fully appreciated was the sensitivity to the capital markets and the funding markets to the credit risks in some of these markets and how quickly that pull-back could be. with wachovia, you can see the rating was 3. we actually had in our lidi system, had wachovia-in march of 2008. that institution would be subject to a downgrade within the next 12 months. we had a discussion with the occ and they subsequently downgraded that institution. we did have concerns about it. the sensitivity to funding markets was something we did not
you can see that with the results of fannie mae, a freddie mac, and countrywide. this allowed a monoline institution go into a far larger institution that had diversified risk. the issue with wachovia is that it had a lot of other risks that exposed it to sensitivities in the market and liquidity in that market. one of the questions you had about whether we missed anything, the toughest thing as a supervisor and having to go to my board of directors, it is tough to not have a viable options for...
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Sep 23, 2010
09/10
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WBAL
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mac. they want to cut government spending back to 2008 levels. this is a plan they're hoping will help them in november. >>> in new york last night after barely completing one sentence, president obama has heckled for gay rights and aids funding. it forced the president to go off script many times insisting his administration has increased aids funding and is working to overturn the law on gays serving in the military. he then sold the hecklers to go bother republicans after they didn't low the don't ask, don't tell policy to be repealed. >>> officers clipped what they believed was a stolen car. one suspect jumped out and attempted to run away from officers, but was quickly grounded with a stun gun. the other suspects are dragged from the vehicle and taken into custody. >>> in new mexico, an amateur astronomer captured a rare sight traveling across the sky. a bright meteor moving north, traveling right past the moon. the amazing footage was captured with an experimental all sky optical vid
mac. they want to cut government spending back to 2008 levels. this is a plan they're hoping will help them in november. >>> in new york last night after barely completing one sentence, president obama has heckled for gay rights and aids funding. it forced the president to go off script many times insisting his administration has increased aids funding and is working to overturn the law on gays serving in the military. he then sold the hecklers to go bother republicans after they...
SFGTV: San Francisco Government Television
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Sep 9, 2010
09/10
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SFGTV
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at this point, because of fannie mae and freddie mac, it is not possible to use supervisor mar and the mayor created, to put expenses for upgrades for efficiency on your house on your mortgage, so that means that we need to be more proactive and create a program, so i would urge you8k! to helpe the first steps to deal[é)@ñ this sludge problem and other waste problems like it, to include in your master plan for sewage system master plan, a pilot project for various types of composting and other similar types of toilets so that we can see what works, what is the to given away. if you would, when that whole process comes up for a final vote, include a good, comprehensive final project for any other public comment? next speaker please. >> thank you. my name is page thomas elliott. i'm from the center for food commission on the sewage sludge composting issue, and it still has not been formally answered, formal response to the petition, and since the issue will be on the agenda in wf additional comment then on the issue as well as provide additional statements, and we wanted to inform the
at this point, because of fannie mae and freddie mac, it is not possible to use supervisor mar and the mayor created, to put expenses for upgrades for efficiency on your house on your mortgage, so that means that we need to be more proactive and create a program, so i would urge you8k! to helpe the first steps to deal[é)@ñ this sludge problem and other waste problems like it, to include in your master plan for sewage system master plan, a pilot project for various types of composting and...
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just abort fannie mae and freddie mac. whether we like it or not. that short of an update on the week's top stories stay with us. more news today violence is once again flared up. these are the images the world has been seeing from the streets of canada. giant corporations are on the day. every month we give you the future the best in science and technology from across russia and around the world. join other technology update on our jeep. with. this data data generated from an electrical grid. you can do to do it in california. energy sources. let's go to support of. you watching all teens repeat russia's southern republican north as well as the seventeen victims of thursday's marketplace cobwebby. who survived the attack and lost their loved ones because it's. more than a thousand demonstrators question the anniversary of nine eleven and to build a mosque near ground zero we look at why a growing number americans are converting to islam despite claims that fewer than ten minutes and towards muslims. are also playing with knives a video of a u.s. so
just abort fannie mae and freddie mac. whether we like it or not. that short of an update on the week's top stories stay with us. more news today violence is once again flared up. these are the images the world has been seeing from the streets of canada. giant corporations are on the day. every month we give you the future the best in science and technology from across russia and around the world. join other technology update on our jeep. with. this data data generated from an electrical grid....
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mac. whether we like it or not. i'll be back in just a few moments with a headline stay with us. close up came has been to their hang me. for the first russian fleet was born. our t. goes to the area which holds talk a solution in oil and gas resources. where the biggest russian salmon can be our processing factories located. somewhere unique species of farm fauna can be found. come to the site culling region. should close up on all. for the full story we've got. the biggest issues get. face to face with the news make. more news today. these are the images. from the streets of canada. today. the main stories we've been covering this week to be russia's southern republican. the seventeen victims of thursday's marketplace kabul they are teammates those who survived the attack coming across the middle it's. none of the even remembrance day in the u.s. has been marred by clashes that the plans for a mosque near ground zero and some public burnings on. how to build a working democracy are the s
mac. whether we like it or not. i'll be back in just a few moments with a headline stay with us. close up came has been to their hang me. for the first russian fleet was born. our t. goes to the area which holds talk a solution in oil and gas resources. where the biggest russian salmon can be our processing factories located. somewhere unique species of farm fauna can be found. come to the site culling region. should close up on all. for the full story we've got. the biggest issues get. face to...
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Sep 29, 2010
09/10
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CSPAN
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number of those floated by analysts and advocates to relax the rule that fanny and freddie mac impose on being able to refinance your mortgage. looking at this now, our two work is at a preliminary stage but that fits the outside people, that one could improve the cash flow of home own ers by tens of millions a year through relaxation of the refinancing. letting people take advantage in the decline in rates. that they can't now because of the decline in-house prices and there might beacon sequences of that from the federal budget. i don't want to suggest it's a free lunch but there's reasons to think it's a piece of stimulus working through the housing sector. >> and in correlation to that. i just recently had a major car dealer get in touch with me and it's typical of what's helping in the housing market as well. only in this case, it's small business. the bank has revalued the properties upon which the car dealer has the mortgages. and the bank is unyielding. they're saying since the value of your property, real estate in this case the dealership. has come down and your mortgage is
number of those floated by analysts and advocates to relax the rule that fanny and freddie mac impose on being able to refinance your mortgage. looking at this now, our two work is at a preliminary stage but that fits the outside people, that one could improve the cash flow of home own ers by tens of millions a year through relaxation of the refinancing. letting people take advantage in the decline in rates. that they can't now because of the decline in-house prices and there might beacon...
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Sep 29, 2010
09/10
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over and over, the bush administration had asked congress to stop fannie mae and freddie mac, to reen it in, and to -- to rein it in, and two republicans, -- and to republicans' dismay and dishonor, it was not done. certainly the democratic friends across the aisle were objecting. the man who was to become chairman, barney frank, was objecting, of course we've seen the speech where he said no, they were fine, in essence. they were not fine. they were in big trouble. and nothing was done. it should have been. if we look back and find that fannie mae and freddie mac, they weren't sitting dormantly on the side, oh, no, they were actively involved in politics. if you look at the period as open secrets did from 1989 to 2008, to find out who gained the most in political contributions during that period, from fannie mae and freddie mac as they sought to try to entrench their future. the second highest amount of contributions from fannie mae and freddie mac went to a senator named barack obama. things changed, didn't they? and now we have the book come out from mr. wood ward -- mr. woodward,
over and over, the bush administration had asked congress to stop fannie mae and freddie mac, to reen it in, and to -- to rein it in, and two republicans, -- and to republicans' dismay and dishonor, it was not done. certainly the democratic friends across the aisle were objecting. the man who was to become chairman, barney frank, was objecting, of course we've seen the speech where he said no, they were fine, in essence. they were not fine. they were in big trouble. and nothing was done. it...
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Sep 23, 2010
09/10
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mac. democrats immediately blasted mostly the tax portion of the pledge, saying it will increase the deficit by giving tax cuts to millionaires. >>> one more note on health care reform. it's been six months now since congress passed the obama plan. and so major provisions of it go into effect tomorrow. among them -- dependents will now be covered under their parent's insurance plans up to age 26. children under age 19 can no longer be denied coverage because of preexisting medical conditions. and insurers will no longer be allowed to put lifetime limits on coverage. >>> when our broadcast continues on a wednesday night, life saving cancer drugs that cost a fortune. whether you can pay can become instantly a matter of life and death. >>> a new documentary about fixing public schools that's making waves tonight. >>> think about this, you have a potentially terminal disease and there's drug to make you better and you can't afford it. it happens all the time. the choices are people into some n
mac. democrats immediately blasted mostly the tax portion of the pledge, saying it will increase the deficit by giving tax cuts to millionaires. >>> one more note on health care reform. it's been six months now since congress passed the obama plan. and so major provisions of it go into effect tomorrow. among them -- dependents will now be covered under their parent's insurance plans up to age 26. children under age 19 can no longer be denied coverage because of preexisting medical...
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Sep 23, 2010
09/10
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MSNBC
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mac and fannie mae and want to cut government spending back to 2008 levels. this is the plan they're hoping will help them in november. amara. >> tracie potts reporting, thank you. >>> a hot topic on "the rachel maddow show." she asked governor ed rendell why the health reforms aren't pore popular. >> the health care reform bill was popular when you broke it down into segments. it got spun out of control and people don't like the concept or the idea but they like the individual stuff. i was in pittsburgh today at a senior center talking about the 250s. i'm in harrisburg tomorrow with some 24-year-olds who are now being covered through their parents. they lost their jobs but they're covered by their parents. people see that stuff and say, oh, yeah, the high-risk pool. the pre-existing condition and for small businesses, you know, the republicans have been saying, absolutely lying saying this is going to drive up costs for small business, well, in pennsylvania, there are 150,000 small businesses under 25 employees, if they give health care to their employees th
mac and fannie mae and want to cut government spending back to 2008 levels. this is the plan they're hoping will help them in november. amara. >> tracie potts reporting, thank you. >>> a hot topic on "the rachel maddow show." she asked governor ed rendell why the health reforms aren't pore popular. >> the health care reform bill was popular when you broke it down into segments. it got spun out of control and people don't like the concept or the idea but they like...
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Sep 26, 2010
09/10
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FOXNEWS
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. >> it stopped the down economy with fannie mae and freddie mac people couldn't afford the buy houses and the market collapsed and housing market is going down as fast as the democratic party. >> gregg: rick and rich, good to see you both. >> julie: well, before making a final ballot decisions, many voters are waiting to see what congress does about expiring tax cuts. president obama and many democrats want to end the bush era cuts for wealthiest americans but many recipes says raising taxes on anyone isn't the answer to our financial crisis. julie, we got some answers on the timing of the tax cut vote. what is the word. >> reporter: the number two democrat in the house appeared, steny hoyer he doubts there be vote on tax cuts meaning that americans are going to have to wait until after the november elections to find out what their tax rates are going to be, on income, dividends and capital gains. hoyer says it's republicans support for tax cuts for the rich which is holding up a tax relief for everyone else. here is hoyer. >> if such is the sentiment it westbound speesh us on act but
. >> it stopped the down economy with fannie mae and freddie mac people couldn't afford the buy houses and the market collapsed and housing market is going down as fast as the democratic party. >> gregg: rick and rich, good to see you both. >> julie: well, before making a final ballot decisions, many voters are waiting to see what congress does about expiring tax cuts. president obama and many democrats want to end the bush era cuts for wealthiest americans but many recipes...
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Sep 10, 2010
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freddie mac pegged the average rate for a 30-year fixed loan at 4.35%, the first weekly rise since mid-june. >>> various reports say later this morning president barack obama will name longtime economic adviser austan goolsbee as chairman of his council of economic advisers, replacing christina romer, who left the administration last week to return to teaching. >> and, finally, a disappointed romanian lawmaker, who drafted a proposal to tax witches and fortune tellers, claims lawmakers were frightened into rejecting the tax because they were afraid of being cursed. you don't hear that every day. >>> well, tom brady takes a hit, home run leaders add to their totals, and a rare steal of home. >>> plus, the saints come marching into the new nfl season with a win over the vikings. your early morning sports headlines are straight ahead. >>> and we're watching some rain for the weekend. your regional forecast is coming up. you're watching "early today." for those of us who have lactose intolerance, let's raise a glass to cookies just out of the oven. to the morning bowl of cereal. and to lactaidÂ
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Sep 2, 2010
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you can see that with the results of fannie mae, a freddie mac, and countrywide. this allowed a monoline institution go into a far larger institution that had diversified risk. the issue with wachovia is that it had a lot of other risks that exposed it to sensitivities in the market and liquidity in that market. one of the questions you had about whether we missed anything, the toughest thing as a supervisor and having to go to my board of directors, it is tough to not have a viable options for them. one of the things i do not think that we fully appreciated was the sensitivity to the capital markets and the funding markets to the credit risks in some of these markets and how quickly that pull-back could be. with wachovia, you can see the rating was 3. we actually had in our lidi system, had wachovia-in march of 2008. that institution would be subject to a downgrade within the next 12 months. we had a discussion with the occ and they subsequently downgraded that institution. we did have concerns about it. the sensitivity to funding markets was something we did not
you can see that with the results of fannie mae, a freddie mac, and countrywide. this allowed a monoline institution go into a far larger institution that had diversified risk. the issue with wachovia is that it had a lot of other risks that exposed it to sensitivities in the market and liquidity in that market. one of the questions you had about whether we missed anything, the toughest thing as a supervisor and having to go to my board of directors, it is tough to not have a viable options for...
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Sep 17, 2010
09/10
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freddie mac says the average rate on a 30-year fixed rate mortgage was 4.37%. while that's just off the historic low set two weeks ago, cheap borrowing costs haven't meant a boost in home sales. economists think that's because people are worried about job security and the bumpy recovery. >> tom: meanwhile, lenders took back more homes in august than any month since the mortgage crisis began. real estate data firm realty trac says there were over 95,000 foreclosures in august. that's up 25% from year-ago levels. banks are reluctant to flood the market with those properties, because that would depress prices. fewer than a third of homes repossessed by lenders are now for sale. >> susie: if you think the fights about reforming the nation's financial system are over, you might be mistaken. here's commentator gillian tett, u.s. managing editor at "the financial times." >> right now, many americans might think that the battle over banking reform is pretty much over. after all, in july, the president signed the so-called dodd-frank bill, which was supposed to set a hi
freddie mac says the average rate on a 30-year fixed rate mortgage was 4.37%. while that's just off the historic low set two weeks ago, cheap borrowing costs haven't meant a boost in home sales. economists think that's because people are worried about job security and the bumpy recovery. >> tom: meanwhile, lenders took back more homes in august than any month since the mortgage crisis began. real estate data firm realty trac says there were over 95,000 foreclosures in august. that's up...
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Sep 18, 2010
09/10
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FOXNEWS
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as president obama has increased the amount of housing debt that fannie mae and freddie mac and therefore taxpayers have to pay, guess what? the fall rates have -- default rates have gone up. default rates in mortgages are at an all-time high. default rate of student loans of guaranteed government loans at 6.9%. that's the highest in 12 years. >> david: stephane, you know, ultimately -- >> we're in a recession. >> david: taxpayers ultimately will pay for defaults, right? >> i'm not sure i heard the question but we could start going after the government loans made for education at for-profit schools. the for-profit schools are a problem. administrators are urged to chase profits or urged to chase kids. that's not a healthy conflict. i don't have a problem with the for-profit education. i have a problem with government subsidiaries for it. as far as the conspiracy theory, is the white house hoping there will be more default, anyone thinking that is mixing up the dinesh and desusa. >> david: i have to agree with stephane, if you are a for-profit entity, you shouldn't get taxpayer bail-out, c
as president obama has increased the amount of housing debt that fannie mae and freddie mac and therefore taxpayers have to pay, guess what? the fall rates have -- default rates have gone up. default rates in mortgages are at an all-time high. default rate of student loans of guaranteed government loans at 6.9%. that's the highest in 12 years. >> david: stephane, you know, ultimately -- >> we're in a recession. >> david: taxpayers ultimately will pay for defaults, right?...