trying to find his way and the private sector the sitting on mounds of cash and not doing anything with it and you have a huge portion of the government the defense budget that's actually an employer of last resort for a lot of these people and they might get their budget cut so that what happens then you have a media that's complicit in all of that that's really showing these figures almost like a baseball box score and not going into any detail as to what they really mean only humor let's talk about that right realize it's kind of this taboo subject that's that it's just ignored chariot republican debate last night and maybe these exact figures were released get by the debate but i still don't really see questions about poverty line was that was asked every santorum at the previous throw at a tea party line and he does have this critical look on his face i've never heard of before well you know it for the republican party at this point is showing you know that america's kind of tribal in terms of you know if it doesn't affect my tribe i don't care and poverty and the poor people aren't really

a constituency you know the they don't have to try to do what i'm trying to get example voice and so you know they're easy to pick on and you can also say well i'm not poor i'm not like them. you know they might be a racial or ethnic minority the problem is we're you drill drill down deep is this is affecting people beyond minorities i mean you're looking at a bankruptcy for seniors and students i mean are on the rise so you've got people on both ends of society who are declaring bankruptcy and it's not because they're going buck wild with credit cards it's health care costs it's losing jobs it's mortgages it's not having any jobs so this is going to kind of creep into you know the complacent tried let's just say and i think you're going to see people start to tip and say wait a minute we need to ask hard questions about this because even though we're not poor people we may just be that way and some people are if you look at some of these figures if younger people moving back home and if they had not moved back home. they would be typical that you know one out of six statistic them so i have

a figure it's forty five point three percent of people ages twenty five to thirty four with the living in poverty they weren't living right here. on the other side you have people who are supposedly trying to come up with solutions i mean you have the heritage foundation which is providing intellectual support for the republicans but what are they doing they're not talking about jobs they're basically saying well these people weren't poor they have x. box well that's that's not that's not what's going on here that's not the problem where they have x. past or not that's a personal cultural psychological priority choice somebody is making but poverty is at the root of it anyway if your work because you're making weird decisions like buying an x. box rather than food to poverty is still at the root of that's the thing to do right as i feel like it's probably poverty isn't as visible an american society and you have our it is asians like the heritage foundation will say ok well if you can afford a microwave then you're not in poverty or even if you have

a family for that only living off of twenty thousand dollars a quarter you're not one of those people that's living off of less than a dollar a day right when there are millions. of we're poor so that's not the same time are we moving away from from being a truly developed country where we are trying to resemble other nations that are less developed moving backwards because they're so i think you're starting to see you know the census figures are showing this bankruptcy figures are showing this you start to see it's not an hourglass it's more like a correct have you know correct is very narrow you talk a little bit at the bottom you've got a surf class that is now being created with attendant problems of crime pregnancy exploder etc you have the middle class that's getting squeezed and squeezed and squeezed i mean student loan delinquencies not the force but believe it sees what's the problem because that's the whole you know vicious cycle in motion and then you have the mortgage stuff the piggybacks on that so you've got this bottom half of the qur'an that is thirty. just in order to term oil and tar live that's really you

know living off of good times basically it's a pile on and in fact if you look at some of the studies out there you call it a kharab some people are still using our glass going out to the sea you know some of the biggest retailers out there isn't the biggest manufacturers trying to tweak their products there is no longer exist and middle of the road product is trying to make you know really high class very expensive materials and that it's either one or more human markets and there's nothing in between and nurse and that's the thing that the media is missing that's the thing that the politicians are missing with you know this basically covering these horse race type statistics and fear and conflict rather than really bothering down and trying to find solutions how do you cover it to right how do you show poverty in america what people are doing long form documentarians or doing their shows like this or doing it popular m.p. or. blogs and news sites that have the resources at least that. you know

the networks and the cable stations are not going to do that because they know their bread and butter is on this kind of horse race and for your coverage you saw that with the all the nine eleven the style to be and that was something we could get around you know emotionally this is something a lot of us don't want to deal with i mean even conservative republicans i mean some of them to the military as employer of last resort a lot of them are in districts were not for their people joining the military or working on military bases the only other option for them would be to sell crystal meth ok and so i'm not talking about thousands of rural districts all over say red states but they're not going to admit that but there are people see that and as soon as it starts to eat it personally then you're going to start to see people press for real change and real coverage from the media so we can get information on how to help themselves now is there any way you know of course you can buy a lot of this on globalization this is what's happening here with the world because jobs moving. overseas you just american workers talk and here you are and we do

this to ourselves as well how do we not say this well i mean we did i mean really go to the media is to blame for their for not giving the basis of the american population giving them the basics of education but what we did but i mean this kind of concept has been around forever you just create you know you just basically carve out your sector you know when one second disappears you build the infrastructure up for the next we couldn't even get agreement on that so of course all these jobs go overseas low paying jobs that used to be union jobs and that's affecting you know undereducated and minority people already and you know but we never plan for that because we don't like the plan because it seems to centralized in communistic i guess but other countries do do better start planning for the future because the moment doesn't look like this is going to get any better and it is a growing problem especially for this young population says person really sets you back and life thanks michael. now still to come tonight we have our tuesday edition

of failing to tell and then did fannie mae just bail out bank of america when i say fannie mae i really need of course the taxpayers of the united states are surviving that topic in just a moment and the brand as a director of economic research what it was and on the. internet only when it was the mechanisms to deal with the tipping justice or accountability. i have every right to know what my government would you want to know why i think taxes. but i would characterize obama as a charismatic version of american exceptionalism. that you know sometimes you see a story and it seems so sorely sleep you think you understand it and then you glimpse something else here sees some other part of it and realize that everything

is ok you don't i'm trying hard look at the big picture. let's not forget that we had an apartheid regime right here. i think the. one well. we have the government says they are keeping safe get ready because if you give them your freedom. fighter.

all right guys it's time for show and tell us night's program the last time we discussed the bipartisan support for the war on terror with both parties backing this ever expanding war an enemy the camp eradicated now to ask if there's no end in sight was that a producer for treason sends you to find out what you have to say. nine eleven changed everything the way we travel the way our government monitors us most obviously the way we it spends money we now live in

a world where we are told that we're constantly under threat of attack and because of this many people outside washington started to wonder if the war on terror is also a state of mind a self-imposed life altering fear that we adopted into our daily life even slate dot com speeds on homeland security that we told you about yesterday said that the likelihood of a u.s. resident dying as a result of a terrorist was one in three point five million per year that was on september seventh one day later the white house warned of a credible threat to the nine eleven anniversary so how long will this war last and does anyone believe it will ever come to an end anytime soon oh no he said the war on terror will never end there's a way to much apathy among the public and too much money being spent by the military industrial complex on you tube the earth for three eight three seven three eight said of course it will and like all good intentions you eventually run out of other people's money and corporate america would never actually pay for the. own

lor's hole seems to agree he told us as long as congress is tied to defense contractors their vote will be stuck to the accelerator pedal armed conflict so the reality is since nine eleven two thousand one hundred domestic security costs go up by three hundred sixty billion and government defense contractors so it actually one hundred billion of homeland security contracts and yes this spending is fueled by the war in terror many arguably shouldn't be placing a price limit on saving lives inside america but was so few lives lost eleven and so much money spent we have to wonder at what cost to the financial security of the us is the domestic security build up really amount to one thing is for sure it's clear if you look outside on to the streets right here in d.c. with all about its security it looks like a war on terror is in full swing and it is not coming to an end anytime soon. now as always we thank you for your responses and here's our next question for you just

discussed the staggering figure released by the census bureau today on our feet america more than forty six million people now live below the poverty line and that is the highest number on record that's going to fundamentally change this country rather still solutions let us know what you think what should be done to combat rising poverty rates in the u.s. you can find us on facebook twitter and who do and those responses just not me on here. now it's quite apparent to everybody who traveled on the tenth anniversary of nine eleven that the t.s.a. and v.h.s. both massively increase their security just yesterday we told you about how three individuals were detained for going to the bathroom too often. the american airlines flight from los angeles to new york was accompanying to the ground by two f. sixteen fighter jets after air marshals onboard the plane reported strange behavior by three men who were coming and going from the bathroom it turns out that's all they were doing and they were questioned and released and everybody else on the plane was let go. now it turns out there was a similar if not more violent incident on

a flight that was going from denver to detroit frontier airlines flight six twenty three was detained at the airport and three individuals from row twelve that plane were removed for questioning these three people consisted of two indian men and one jewish arab american woman shot ahead she is an american citizen but a saudi father energy rich mother and despite the fact that she didn't know the two indian men the three of them were greeted with ten cops wearing military fatigues and machine guns so after being handcuffed and taken into custody of the detroit airport i have his account of what happens next it's pretty uncomfortable on her blog stories from the heartland she described with the jail cells look like how there are security cameras point that out for hours she also explained she was subjected to a strip search out of power taken away denied any communication with her husband and the entire time she was never told why she was being taped that is until hours later when officials from the department of homeland security am an f.b.i. explained that somebody on the plane reported three dark skinned individuals sitting in the same row of an airplane conducting suspicious activities now

according to have his account he didn't even talk to these two men until they were being approached by the cops with machine guns so i think that it's pretty safe to label this as yet another instance of racial profiling apparently being happier of have jewish housewife on a plane is now a crime when the f.b.i. spokeswoman gave her statements after the round of interrogations sandra burke told said the public would rather us err on the side of caution than not erring on the side of caution is one pick to hold the individual for several hours force them to undergo a strip search although not informing them about why they're even being held that's quite a different story just more proof. our society has changed in the decade after nine eleven where anybody who might have a tan complection despite their citizenship is going to be held under the magnifying glass. now here's a story that you haven't heard anywhere else fannie mae they have bailed out bank of america to the tune of almost half a billion dollars this month and we say rain because the details of a recent deal that was made are pretty scarce but

a little suspicious here's the breakdown in early august fannie mae greeted by the mortgage servicing rights of a portfolio four hundred thousand loans but then on paper is the balance of seventy three million dollars in bank of america now in exchange for the right to collect the payments from homeowners bank of america reportedly received five hundred million dollars the real price i'll ever isn't known and neither are the contents of this going to perform portfolio now this should make you the taxpayer a little curious since fannie mae that's been bailed out more than once is essentially now government own so your money into this deal and if the white house's plan national refinance program goes through that means that you may have just gotten a really bad deal but enough of my very cryptic explanation here let's get to our guest to tell us what's really at stake joining me to discuss this is anthony randolph so director of economic research for the reason nation anthony thanks so much for joining us tonight if you now you actually broke this story for our attention some relate let us take it away first of all you know tell us about this deal was this something that we had

a lot of people competing for were these emissaries really hot commodities well the so behind the scenes the bank of america said we have this portfolio of seventy three billion dollars actually worth a shit if you know the underlying lows but you know millions of billions these days what's the difference. is that we've got the mortgage servicing right there's not the loans it's just the right to collect payments on those and then you take a few off that so they are worth something and about five or six different financial organizations got to take a look at this portfolio flows to see if they want to bid on it before anybody could bid on it they just sold a fannie mae which is a little bit curious there was no. no one else submitted a bid just fannie mae kind of comes in and makes a payment which on just under the surface like why would i think america's just sold us to fannie mae to do the think that makes americans pay more than anybody else so is the taxpayer over paying for these maybe they think that no one in the private sector even want states maybe you know in the private sector really did good on it because it's complete crap so then why is the taxpayer buying this

either way it's sort of suspicious now the easiest way to kind of. sift through all these in a question is is to take a look at what fannie mae purchased look any mason telling and neither is the regulator if if they indeed there's bank of america that doesn't seem like it's illegal i mean i've just seen self-restraint as you would our taxpayers add so it's our money especially since that day is now out on the government. how can they do that they don't have to disclose anything before they just invest like have those little tiny member of congress could ask if a to force fannie mae to disclose this and maybe by law they could or you can file a freedom of information act request and maybe you could be able to get that right now i don't have the resources to push a lawsuit for you know for a for you and so far this has been a month since the still let down of you we wrote something on our blog on this the first day this report is like with this kind of looks interesting but it will probably get cleared up in the next couple days i'm sure somebody in congress will ask you think that a democrat who is furious at the banks for their view causing all of these problems

in a financial year with financial crisis would say wise of the bank getting bailed out you think that a republican would be upset at the possibility of taxpayer funds going to you know some superfluity or costs and b. are costing taxpayers when no one said anything and so we we wrote a piece today is a wonderful question why why why is nobody sort of calling him out on this now it could be that fannie mae's actually doing a good thing in part in theory could own all the loans in his portfolio and they are buying the mortgage servicing rights to give to another company that. better handle them than bank of america to insure that losses in this are lower for fannie mae so that's possible but if that's the case why don't you just come out and say it and this is not the only dealing with meritorious here that are we just want to live there and they actually want to watch a little bit of truth i completely understand that especially when it's not like these things you know we heard so much about warren buffett of course investing i blame guys in the bank of america that you mentioned in this story i just feel like

it kind of is asking the right are nobody's even heard about it. has there been a lot of talk about it and i think a lot of people were just figuring that sort of details that emerged this isn't the first time frame is done this. is possible they've done this with several different organizations and it just isn't getting reported because it's small amounts of money one person commented on the article that i wrote a month it's five hundred million dollars what do you care it's five hundred million dollars this is you know a lot of money to assure the hero in there in the grand scheme of a seven hundred billion dollars bailout maybe that's a small amount of money but five hundred million dollars of taxpayer money is not a small amount of money and we should we shouldn't be letting you know several million dollars go by the way we certainly shouldn't be letting five hundred million dollars if that's what's getting wasted go by the way so without at least asking questions and the principle here is really important because what if the next deal is sort of a ten billion or twenty billion and we haven't sort of established disclosure and transparency is the norm quite the opposite is that a bad precedent in that sense but life actually do you call it

a bailout ok so here's here's how it could be a bill up this sort of pool of mortgage servicing rights here if anybody forecloses one of the loans that they're collecting payments on or if any of those get refinanced or any of those get paid off sooner then the value of that portfolio drops so it's a seventy three billion dollars of loans maybe you're maybe you're going to make five hundred million or billion dollars on that how we might see a lot of refinancing now we're going to see a lot of refinancing is coming here we've already are there is a bank of america has said in this portfolio there's at least three. percent of it is going to become delinquent so at least thirty percent of it is bad at least one organization that i've talked to that looked at this that was given the opportunity but actually wasn't given the opportunity to bid said it actually might be twenty five percent is the delinquency rate in this portfolio which means that there could be really heavy losses so bank of america doesn't want this on its balance sheet so if they have seen or a stake through and this is where the conspiracy is the right thing comes in the

big united states government has a lot riding on bank of america surviving and they're doing anything they possibly could to ensure that make america doesn't go under making americans feel a lot of problems right now this could just be a small part of sort of a broader treasury plan now trying to sort of people thought no again we don't know at a very simple way of sort of answering these questions is there some disclosure from well that's exactly we're going to try to bring light to it now so hopefully somebody out there will answer because if there is another bailout going on why this too big to fail business i think the taxpayers should know about it and thanks so much for joining us. now still to come tonight congressman says that we sort of look at ways to violate everyone's first amendment rights that's right. and sneak around for happy hour. at a president's base right now rushmore was something our concert caught on tape dirty dancing before going back.

into the we were military mechanisms to do the work to bring justice and accountability. i have every right to know what my government should do if you want to know why i pay taxes. i would characterize obama as the charismatic. of american exceptionalism. you know sometimes you see the story and it seems so. using. you understand it and then he did something else and here's some other part of it and realized everything is are you going to charge the big picture.

given that we had an apartheid regime right here. i think even well. we never got the live shows here keep him safe get ready because the freedom. for. for the.

little. i decide to sides told on war that's not it goes to congressman peter king now the new york republican has made headlines this year for holding muslim radicalization hearings on capitol hill that were nothing more than a sideshow in a waste of taxpayer dollars but it's very thiering is so large outraged by critics who call them just an attempt to spread fear of my. islams here in the u.s. and i totally agree unfortunately thing is actually repeatedly defended his hearings i believe it's important to have this investigation on radicalization of the motion community which she would have been in england we know that al qaeda is trying to recruit people over here such as they did with the subway bombing in new york last year the attempted subway bombing times square bombing these are all people living legally in the united states so today congressman king continued his

work of spreading fear of muslims with this time he took his hate tour on the road he traveled to england today to speak about the causes of domestic muslim radicalization and share with british lawmakers what he's learned during the three hearings that he held this year i guess you could say the king is trying to export us islamophobia over the u.k. during these hearings on lawmaker brought up the recent riots that they had the u.k. for days police and protesters crashed clashed across london and several other cities and the riots began after police shot and killed a resident in the tottenham neighborhood of london was quickly spread with the help of social media sites like facebook and twitter so during those riots police and the british government's indicated interest in potentially shutting down social media and other communications like that blackberry messaging in a country that's something that is tantamount to the same type of censorship that they criticize other countries for but i trace here and congressman king was asked if he had any suggestions about better controls for the internet so take

a listen but yes i would like to see because you can. only see the middle of the sites like facebook and twitter it's like i do know we're. going to confront you. so we try to for you we have. oh we have that pesky little first amendment issue dewey that's funny i thought it was a constitutional right not an issue but apparently congressman king just can't wait to find a way to get around it just because we have modern technology doesn't mean that you congressmen think it's a modernized one of the basic rights we have as american citizens just love it when politicians try to trample on the constitution ninety nine percent of the time they wrap themselves in the document talking about how great a visit how it shouldn't be tampered with until those basic rights and freedoms get in the way and then they just say screw it hell if we listen to every time a politician told us that we need to give our rights to keep us safe we have none

left so for acting like the first amendment is annoying if you are giving tonight's tolls on wards new york congressman peter king. all right it's time for happy hour and joining me tonight is our hugh producer jenny churchill an economic morris and toro reporter and blogger for talking points memo. thanks for joining the guys. say a rush limbaugh not a huge fan of it you couldn't guess that he was trying to run what you think about rushmore and somebody that he thinks should be added to it take a listen. george w. bush by the way stands tall he represented ten years. not one attack great statesmanship if somebody

told me today they want to put bush's face a little more it be a little boring. now i mean really of all people george w. bush does that should be should be on rushmore you know i feel like we have some some better presidents that might deserve their i just i mean i'm not because i guess not surprised that rush limbaugh actually said this but on mount rushmore no well he didn't say reagan wouldn't be the obvious republican president but i mean everything all the oil is actually treasonous but he said that he was a regular first p.c.p. does the republican party actually look to this i looked this up before the show and the first thing that popped up was a picture of that someone had superimposed reagan and bush it's faces on both of us yes it's a good move it is a big no that's their whole lot of rumors and i've never been about rush where he's been a member as more i haven't always you michael said like now you know we're not going mundus anymore because now we just look like never been there or we're talking about what these things should be we have to. be educated like george washington

thomas jefferson abraham lincoln are on mount rushmore i hardly think that george w. bush theatre was well it's on there i think if we could i think if we could find a way to kind of memorialize the as an elf version of george bush on mount rushmore i'd be all for that i would just like it should matter slide or something yes but yes you know it just be cool greatest greatest hits just kind of playing on the other faces totally defacing the rest of them but i don't care it could just be the other fictions yet we could take over and. reveal their truth is i like that a little preemptive war after. they decide. ok let's move on to something else this image might disturb you a little bit this was taken from new york and this was the west indian festival that was going on in a couple police decided to get in on the dancing.