mr. poole? >> there's no question that the private market made terrible mistakes, bears a lot of responsibility for the financial crisis. but i repeat that there are many other examples of markets that were just fine without a government intermediary. a good example would be the automobile market. the banks secure ties auto loans. they are sold into that market. the auto loans are, of course, the obligations of households. it works just fine without a government intermediary. i think you would be surprised at how fast the market would fill the gap as fannie and freddie are phased out. >> lehrer: what would be the harm, mr. poole, from your perspective in reconstituting fannie and freddie in some continued hybrid form? >> the harm would be that it would be a method away... a method or a way of slipping further housing subsidies into the operation of the mortgage market. we might put some taxes or extra fees, for example, on the securization and that would be used to finance other housing programs

mr. gingrich has never been to the jcc. he has never seen moms taking the babies to our pool. he's never seen teenagers making sandwiches for homeless shelters. he's never seen husbands coming to grieve for their spouses in a bereavement group. that is what goes on in jcc. >> and that is what you plan? for the islamic center. >> exactly. and he also has never been to tribeca, to our mosque. we have been neighbors. it's 12 blocks away from ground zero. we have been good neighbors. as neighbors we feel that we want to rebuild our city and our neighborhood. >> do you have the plans, the architect, the funding? is it something that could happen anytime? or is it still a long time off? >> it's a long time off, because the project has had to go through several processes. and civic hurdles were one of the most important ones. as you know, we had a landmark issue. so, we were addressing the landmark issue. we were working with the community board to get their acceptance and the welcome mat. so that's what we focused on that first. the rest is a process. >> how much money has been rais

pool come because you guys will take a picture of me without my shirt on. >> reporter: but the swim apparently couldn't wait. late today, the white house released this picture. mr. obama and daughter sasha. and late today, the president's spokesman put out a statement emphasizing that the president is not backing off his statement about the mosque, simply saying that the government does not have a right to tell any faith where they can build a house of worship. kate? >> mike viqueira in florida, thank you. as mike just reported, president obama spoke again today about that plan to build an islamic center in the shadow of ground zero. and his comments have certainly drawn fire. cnbc's chief washington correspondent john harwood joins us now. john, good evening. the white house said he wouldn't wade into this, wouldn't get involved in a local issue, they called it. but he's certainly involved now. why do you think he made these comments last night? >> reporter: i talked to a senior white house official today who said the president had not intended to speak on whether the mosque should be put in that location, but rather mark the right of the -- a church or the ri

pool come because you guys all take a picture of me without my shirt on. >> reporter: problem solved. the white house released this picture of a mostly submerged mr. obama and daughter sasha. about jenna, one irony here is that swim took place on the other side, the bayside of this barrier island and though the beaches here are pristine and the water is clear, the surf is rough this weekend life guards are keeping people out of the water. jenna? >> mike viqueira, thanks so much. >> thanks. >>> for more on the president's trip to the gulf and controversy surrounding the proposed mosque near new york's ground zero we're joined by john harwood, cnbc's chief washington correspondent. good morning. >> good morning, mika. >> tart is with the mosque controversy. the president seemed to clarify his statements at the best we could say that. i want to put them on the screen and read them to you. he says this, i was not commenting and i will not comment on the wisdom of making a decision to put a mosque there. i was commenting very specifically on the right people have that dates back to our founding. that's what our country is about. i don't disagree with a

the gene pool, and the same thing is true of exchange in cultural evolution, it brings together ideas that different people have had. >> reporter: except for the references to sex, the talented mr. ridley is a throwback to 18th century optimism and adam smith, who wrote that exchange is the cause of the wealth of nations. >> give me that which i want and you shall have this which you want. >> reporter: you specialize through the division of labor; you get better and faster at making what others want, you get more in return. it's an idea so powerful and durable, it's printed on england's 20-pound note. >> that's what we're always striving for, is to be able to afford more goods and services, to be able to afford to have other people do things for us, and that's as if it were the thing that's been inexorably increasing over history particularly in the last 200 years. >> reporter: the exchange of goods, services and ideas about how to produce more efficiently has delivered humanity from the limits of old. >> so you'd never get this many people living in an area this size in hunter gatherer societies because it took a huge acreage to support a hunter gatherer tribe. each person nee

pooled it together. >> crafty little devils. >>> anyway, natalie, thanks very much. let's get a check of the weather from mr. roker. how is the weekend looking? >> looking pretty good for us here on the east coast. but for our friends in iowa, pretty rough, and a good portion of the country dealing with dangerous heat over the next 24 hours from texas as far east as the carolinas. we've got temperatures in the low 90s to over 100 degrees. add in the humidity. it's going to feel like 110 in little rock. 112 in st. louis. 108 in des moines, as if they don't have enough problems. and then we have the risk of strong storms from st. paul all the way down to kansas city and parts of iowa included in that. you can see the heavy rain now starting to fire up. we're going to be looking anywhere from an inch to two inches of rain throughout much of iowa over the next 24 hours. that's what is going on around the countr >>> we may be cool and cloudy in san francisco looking at the golden gate bridge. about 54 degrees, still among the best weather in the country and finally getting to summer temperatures this weekend. it will be

mr. chairman. are there comment from the group? >> 3.2 -- hhs should enhance pediatric capabilities to the integration of training, guidance, exercise, supplies, and personnel. we talked about this before. the reserve pool of health care workers and that we have the health care coordinator on each and every disaster team. on the record, i think they have done a nice job. i think that this one stands. comments from the commission? seeing none, 3.3 we have to talk about training. health officials that may treat children, we called for the the president to work directly to prioritize the core curriculum at and research. we have built some very good bridges with this group. the core competencies are really part of the federal funds. it would be an excellent condition. this is pretty similar to our interim report. i think progress is being made. comments? 3.4 -- we are now talking about regionalization. the executive branch and congress should provide resources for formal regionalized pediatric system of care during and after a disaster. there were many wake-up calls during h1n1. we felt a lot of facilities that were not in any way shape or form ready to take care of children. this concept of regionalization

mr. chairman. are there comment from the group? >> 3.2 -- hhs should enhance pediatric capabilities to the integration of training, guidance, exercise, supplies, and personnel. we talked about this before. the reserve pool of health care workers and that we have the health care coordinator on each and every disaster team. on the record, i think they have done a nic job. i think that this one stands. comments from the commission? seeing none, 3.3 we have to talk about tining. health officials that may treat children, we called for the the president to work directly to prioritize the core curriculum at and research. we havbuilt some very good bridges with this grp. the core competenes are really part of the feral funds. it would be an excellent condion. this is pretty similar to our interim report. i think progress is being made. comments? 3.4 -- we are now talking about regionalization. the executive branch and congress should provide resources for formal regionalized pediatric system of care during and after a disaster. there were many wake-up calls during h1n1. we felt a lot of facilities that were not in any way shape or form ready to take care of children. this concept of regionalization -- i think w

mr. chairman. are there comment from the group? >> 3.2 -- hhs should enhance pediatric capabilities to the integration of training, guidance, exercise, supplies, and personnel. we talked about this before. the reserve pool of health care workers and that we have the health care coordinator on each and every disaster team. on the record, i think they have done a nice job. i think that this one stands. comments from the commission? seeing none, 3.3 we have to talk about training. health officials that may treat children, we called for the the president to work dectly to prioritize the core curriculum at and research. we have built some very good bridges with this group. the core competencies are really part of the federal funds. it would be an excellent condition. this is pretty similar to our interim report. i think progress is being made. comments? 3.4 -- we are now talking about regionalization. the executive branch and congress should provide resources for formal regionalized pediatric system of care during and after a disaster. there were many wake-up calls during h1n1. we felt a lot of facilities that were not in any way shape or form ready to take care of children. this concept of regionalization -

mr. rocher as we hear about the cold front today. >> that is right, we have a cold front near manassas, virginia, right here. >> i work in the pool.ou are not in the pool right now. never the pool. let's check the weather and show you what is going on for today, and we have a risk of strong storms from maine all of the way to rome, alabama, and we are talking about really hot stuff. rome, georgia, i should say, and possibly of isolated tornadoes and that weather is working its way further south, but again, we have the heat to talk about, as you can see, temperatures, we have got temperature levels that are going to be heat advisory and heat warnings over 20 states. you can see the rainfall amounts from one to two inches of rain and slight risk of storms back through the west. that is >> and that's your latest weather. natalie? ♪ what's going on >> thank you, al. this morning the schizophrenic shopper. why is it someone who shops at the dollar store for toothpaste and soap could be toting the latest iphone or designer bag? well here to explain the rising trend and the psychology behind it is diane brady and psychotherapist robby lu