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host: what is the difference between fannie mae and freddie mac? today.very little they were originally created as parts of the different parts of the financial system. they both guarantee mortgages and those are put into mortgage-backed securities and sold globally. watchersure the average is aware, but the mortgage-backed securities market is the second-biggest currency in the world next to the treasuries market. we are talking trillions of dollars of mortgages bought by sovereign nations, pension funds throughout the globe. it is that guarantee -- the federal government guarantees that mortgage-backed security, that instrument, so that investors will buy the security. the job of fannie mae and freddie mac is to make sure the quality of those mortgages and the products originated that go into those mortgages are safe, sound, sustainable, so that the investors can have confidence it will perform over time. host: david stevens is our guest. michael in old lyme, connecticut. homeowner. caller: i just wanted to make a general comment about the state

it will be fannie mae and freddie mac.t will have down payment availability as low as between three and 5%. and what troubles me, is that it is not just lower down payments but the potential for intersecting that with consumers with weaker profiles. we've seen this movie before and it didn't end well. when you intersect both lowdown payment and weak credit profiles, that to me is a recipe for problems down the road. liz: susan, how do you see it, as somebody who has studied this very closely? i'm sort with greg. it was very hard for me to get get a mortgage recently. i wouldn't fall into the freddie mac or fannie mae parameters. make it easy for me to buy a house too. i think i had to put down 25 to 30%. >> lenders are actually with you. they're not making these loans. they are able to make loans under loser standard but they're not making them. their standards are far stricter than gses will require. this will not change. that i think down the line this could have consequences but right now the issue lenders are not makin

fanny mack, the other agency is expected to follow suit.hese low money-down loans are potentially dangerous and could encourage people to bite off more than they can chew. in response to concerns the regulator says if they are sold bad loops, they can force banks to buy them back. this news interested us. it's been five years since the end of the great recession, which started because of the financial crisis sparked by bad martings. alley spoke about the crisis with the chief financial commentator of the "financial times," and the author of "the shifts and shock - what we learnt and are still to learn by the financial crisis." learnt? >> i think the most important thing we learnt is the fragility of the financial system, and the way it interacts with the economy, and the dangers of leave ridge and accumulating huge amounts of debt, in the financial sector and the household sector. repeat. >> we have a generation thinking debt is the fantastic, the well. >> it's exactly what they thought. for a generation, 30 years, that's how it seemed. the

fannie mae referred close to $300,000 of its thousands of foreclosures to debt checktors.ly may declined our request to appear on camera, but did provide a statement saying we have a responsibility to pursue these cases on behalf of the taxpayer, most people who go into foreclosure do so because they have some hardships. everyone we pursue we believe to be strategic defalters. but consumer advocates say lenders are also targeting borrowers who had no choice but to lose their home. >> the deficiency judgments we're seeing is really having a terrible impact, particularly on low and moderate income communities. >> strategic defaults are really the minority of the situations we encounter in our practice. these are good people who had a bad circumstance. >> mary snow, al jazeera. >> one of the reasons courts have been flooded with new lawsuits lately is that some states have recently enacted laws reducing the amount of time lenders can sue. florida attorney chip parker is representing 10,000 borrowers in a class action suit against a texas company. and he joins me now from jack

tell it to the judge, shares of fannie mae and freddie mac both down more than 35% today. coke bowing to pressure from warren buffet announced plans to scale back its executive compensation plan into the plan was to go into effect next year. shareholders continued to criticize the beverage giant saying the awards were excessive, saying they limited the stock compensation and improved transparency. coke bubbled up a little bit to 72.74. >>> and cutting jobs as advertising revenue from the print business has gone down and as it tries to focus more of its resources on digital operation. shares of the old gray lady up 9.5% at $12.30. >>> solar making its trading debut on the stock exchange today, the company the second biggest installer of solar panels for residents in the u.s. the ceo says there is enormous potential for the solar panel industry. >>> right now we're saving customers 15 to 30% on the utility rate that is generated by fossil fuel. if you look historically in the seven states where we average, the utility increase is 6%, so given the fact that the utility rates

fannie and freddie shareholders or upset by that.re are more than 20 cases that shareholders are filed against the government, arguing the amendment that change the bailout was unconstitutional, was a breach of contract. yesterdayjudge basically said the government does have this right. when congress created this agency, congress granted the treasury this authority. >> it is very interesting. amendmentsaid this raises some eyebrows. the issue may be a moral issue or a policy issue, but it is not a legal issue. the judge said, your beef, shareholders, is with congress. they enacted this statute that gave the government authority to preserve the mortgage market and the judge said the government was within that authority when they amended the terms of the bailout. >> that's funny. when i saw that, it reminded me of something that chief justice roberts said about the affordable care act. your opponents, he said, your beef is with congress. it is not up to us to legislate something congress should have taking care of. what does the ruling

fannie and freddie collapsed in 2008 and required $190 billion taxpayer bailout.hey not only tightened their standards, they went after the banks for damages for poor underwriting forcing them to pay billions in settlements. no one wants to see this again, that days of bad mortgages and big bailouts. but some groups have been lobbying fannie and freddie regulator to revise its rules someone to help make loans available to give borrowers who may not be perfect. >> we have cited to move mortgage finance back to a responsible state of normalcy , and one that encourages a response:00 enclosed is credit-worthy borrowers while maintaining safety and soundness of the enterprises. >> technically they are agreeing with banks on what kinds of mistakes and loans could trigger future penalties. lenders say uncertainty had encouraged it tougher underwriting standards and discouraged from making loans. separately the fhfa said fannie and freddie are working on new programs to guarantee loans with down payments as low as 3 percent, something they once did but stopped after the c

host: what is the difference between fannie mae and freddie mac?oday.very little they were originally created as parts of the different parts of the financial system. they both guarantee mortgages and those are put into mortgage-backed securities and sold globally. watchersure the average is aware, but the mortgage-backed securities market is the second-biggest currency in the world next to the treasuries market. we are talking trillions of dollars of mortgages bought by sovereign nations, pension funds throughout the globe. it is that guarantee -- the federal government guarantees that mortgage-backed security, that instrument, so that investors will buy the security. the job of fannie mae and freddie mac is to make sure the quality of those mortgages and the products originated that go into those mortgages are safe, sound, sustainable, so that the investors can have confidence it will perform over time. host: david stevens is our guest. michael in old lyme, connecticut. homeowner. caller: i just wanted to make a general comment about the state of

and speaking of crisis, fannie and freddie are taking a hit today.re going tell you why and if there are any unusual activity in those ahead of the news that broke last night. ♪ when the world moves, futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with paper money to test-drive the market. all on thinkorswim from td ameritrade. big day? ah, the usual. moved some new cars. hauled a bunch of steel. kept the supermarket shelves stocked. made sure everyone got their latest gadgets. what's up for the next shift? ah, nothing much. just keeping the lights on. (laugh) nice. doing the big things that move an economy. see you tomorrow, mac. see you tomorrow, sam. just another day at norfolk southern. >>> good day everybody. first of october, coming up on a new, all new unrehearsed hour of power lunch. a triple digit loss on the dow h as we enter the final quarter of the year. containing the spread. the first case of ebola diagnosed in the united states. the patient being treated down in texas. gov

he talked about fanny in an interview in 1965 with stud turkal. and he said martin luther king is very important but fanny is more important. and he said what do you mean? how can she be more important? he said because there are more of her in the united states than dr. king's. his vision of american democracy is found when ms. hamer gets respects, credit and access she deserved. what is is interesting for us is before becoming a black power icon and this image and symbol of political revolution. before he is with castro and others, stokely carmichael is pursuing radical freedom in the deep south. that is what he is doing. and one of the most interesting parts for me was the relationship between dr. king and carmichael. they were friends. they met at 1963 at howard. stokely was his body guard during freedom fest. they march together during selma and that relationship really comes to the fore once stokely is chairman of the committee in 1966. the march from june 7-june 26 is the march that transforms stokely carmichael's life and the civil riots mo

the lowering interest rates of the fanny macloans -- neil: tim, you know this better than i do. i think with the best of intentions the government could be screwing this up all over again and resinning old sins. >> think about it this way, i think too often we confuse bad economic policy with bad credit policy. you can get economic policy right and the other policy doesn't matter as long as people are getting jobs, starting households. you can take a lot of risk on the credit policy side. we have bad economic policies. no matter how you move the dials on the credit policies, you still have a lot of people at risk. lastly even though this 3 percent down payment will have an 8x default of someone who puts 20 percent down. you'll break a few eggs to make an omelet. but evictions hurt too. home ownership being a lot less than renting, there will be a great opportunity to drive people more into home ownership. the homeowner is greater that night renter it's imperfect, but it's the right direction. neil: nothing is moving right now. maybe we'll see what changes that. many say is cross

bloomberg is taking you on the markets. >> fannie mae and freddie mac.hese stocks are getting killed. againsts a court ruling a lawsuit brought by a number of investors, including reuss berkowitz and richard parry alleging that the government sweptillegally when it all of the profits from fannie and freddie into the treasury department instead of passing them out to investors. these stocks went up more than 1000% last year on the expectation, speculation that these investors had a case and would be able to recover these profits. >> you and i have sat right here on this set. they told us this is the story of the year. the government illegally acting. these hedge fund managers are down today. >> this is just one of 20 cases being brought against the government. bill ackman has a separate case alleging that the sweep of profits violated the constitution's fifth amendment. a different claim brought by perry and berkowitz. ♪ >> live from bloomberg headquarters in new york, this is "market makers." right is wrapping up .er first fiscal year running an increase

. >> fannie and freddie. there's a lot going on. >> i got to make some calls. >> right during the break, let's all make some calls. when we come back, signs that the standoff between amazon and disney could be nearing an end. also, maynard webb live in an exclusive. we'll be right back. having a fe checked bag. with my united mileageplus explorer card. i have saved $75 in checked bag fees. priority boarding is really important to us. you can just get on the plane and relax. i love to travel, no foreign transaction fees means real savings. we can go to any country and spend money the way we would in the us. when i spend money on this card i can see brazil in my future. i use the explorer card to earn miles in order to go visit my family which means a lot to me. ♪ there's a difference when you trade with fidelity. one you won't find anywhere else. one-second trade execution. guaranteed. did you see it? in one second, he made a trade, we looked for the best price, and the trade went through. do the other guys gu

of fannie mae among other things. >> joe biden's son was arrested for coke on friday. he was busy with that. >> the big news of the day, this morning, what is circulating like fire is the fact that when ron klain begins his tenure, he gets closer inside the white house. he'll be working directly with the chief of staff and top counsel and we know that he was only going to be there for a year so the talk is perhaps he would inch his way into that job. >> so klain is a political hack. bernie is right. he's in the chief of staff job now to make sure biden doesn't stick his word in his mouth and he's the ebola sglr to clean you mean the image. he's like the cleaner. >> he's a political steward. >> he's like the wolf from "pulp fiction" although not as effective. >> if you look at stories, we can go he's a really smart guy. he is. he's shrewd. but if you look at the stories today breaking, he's only doing it according to sources because of politics. he wants to get closer to a plum position and adviser to president obama when john leaves so he doesn't to want do this. he's

the "wall street journal" says fannie and freddie are considering a program to allow lenders to offerortgages with down payments as little as 3%. >>> and ford is developing a car seat that can detect whether a driver is having a heart attack and then safely stop the vehicle. the "financial times" reports the seat monitors the cardiovascular system for any issues and uses a camera to track head movement and sensors on the steering wheel. ford's production team says it could scale up production on the new seat in the next five years. back to you. >> kate rogers with cnbc, thanks. >>> now your nbc 10 first alert weather. >> it's frosty this morning. the temperatures plummeted overnight. most of the area is in the 30s, and a few spots are below freezing. right now here at nbc 10, 40 degrees at 5:26. katy zachry has traffic this morning. hi, katy. >> hi, bill. for drivers with king of prussia as part of their commute, this is a look at 202 right near i-76. no issues to report there. we have a new accident in montgomery county. i'll have details shortly. >>> philadelphia's now the biggest c

fannie mae, freddie mac, easing credit standards to make home loans easier to get. backing mortgages that will require as little as three% down. karina, good, bad, what? >> i actually am experiencing -- it's very difficult for borrowers on all different levels to get financing because of the requirements. so, freddie mac and fannie mae announcing they may loosen the credit limits and the down payment, i don't know if that's such a wise idea because you're giving the ability to somebody who doesn't have enough money to make a down payment to purchase a home and that's how we got in this mess. there's a huge disconnect. i'm experiencing people with far superior assets and a very steady income, still encountering issues getting loans or being able to refinance. so i just don't think it's going to be a huge game-changer. i understand why they're doing it also because they're trying to encourage more of the first-time home buyers enter the market but it's such a low -- >> banks are not going to lend to the -- because they're too much of a risk. if fanny and freddie are b

>> we bought a lot more fannie and freddie stocks.erser so since the decision. >> how much is a lot? >> we increased by about 20%. on ours some restriction ability to buy more stock. we think there's going to be a good investment. but what is injured in with the court's this -- but what is interesting with the court's decision, his arguments were principally the government is not allowed to take private property without justification. a beneficial interest that was not taken for that the judge decided that the stock traded on the market and large by you and shareholders there continue to have a meaning economic interest. >> we are at a hard work. we did hear there's a key man provision. i will make sure bill ackerman does not -- ackman does not step into -- it is a dangerous city. >> good work. we will take a break. we'll be back in a minute. ♪ >> good morning. welcome back. you're watching "the pulse their co we are it bloomberg headquarters. this was a massive day for the markets. that is the dip. are we going to buy it? there might

we learnt that fanny mae will let some borrowers put as little as 3% down on a mortgage.he government is trying to encourage banks to issue more loans. freddy mack is expected to follow suit. these low-money down loans are potentially dangerous and could encourage people to bite off more than that can chew. in response to concerns the regulator said if they are sold bad loans they can force banks to buy them back. >> next, imagine turning your tap for a drink of water and nothing comes out. that is happening in one town in california. the drought turned wells dry and residents are forced to take drastic measures. i'll take you there when we come back. >> on al jazeera america, >> a team of scientists are taking their inspiration from nature. >> technology...it's a vital part of who we are >>they had some dynamic fire behavior... >> and what we do.... >> transcranial direct stimulation... don't try this at home! >> tech know's team of experts show you how the miracles of science... >> this is my selfie... what can you tell me about my future? >> ...can effect and surprise

>> housing, the "wall street journal," fannie and freddie, this is the quote.and freddie could lower barriers and restrictions on bar borrowers with weak credit. extend home loans to housing recovery. director of libertarian cato institute said this is the sort of thing that gets people under water. 3% down payments can zero real quick. haven't we been around this block before, maria? >> we really have. it's interesting that you mention housing. because over the last week housing stock had been rallying. i just wonder who knew what in terms of these new guidelines coming out. look, at the end of the day, i think it's a fair question he to ask what damage has been done. how much damage has been done to this economy. to get us to where we are. and how necessary is the federal reserve to actually lift us out. i would say because of what you ever seeing in housing, because of what you are seeing in sentiment and the fact this is just a breakdown in confidence. this economy should be a lot stronger than where we are right now. >> we look a lot like europe and i don'

we learnt that fanny mae will let some borrowers put as little as 3% down on a mortgage.he government is trying to encourage banks to issue more loans. freddy mack is expected to follow suit. these low-money down loans are potentially dangerous and could encourage people to bite off more than that can chew. in response to concerns the regulator said if they are sold bad loans they can force banks to buy them back. >> next, imagine turning your tap for a drink of water and nothing comes out. that is happening in one town in california. the drought turned wells dry and residents are forced to take drastic measures. i'll take you there when we come back. >>> just how bad is the drought in california. well, be glad you don't live in east porterville, a town in the sierra foothills, north of bakersville. the taps ran dry, forcing residents to rely on drastic measures like having drinking water delivered. joining us is jennifer london, who visited east porterville to see how the residents are getting buy. >> residents in east porterville are barely getting by, there's no water

fannie mae question declined our request, but did provide a statement saying we have a responsibility to pursue these cases on behalf of the taxpayer. but consumer advocates say lenders are targeting borrower whose had no choice other than to lose their home. >> the deficiencies that we are seeing which again, had grown in number over the recent number of years is really having a terrible impact particularly on low and moderate income communities. >> i find defaults are the minority of the situation that we encounter in our practice. these are good people who had a bag circumstance. >> mary snow, al jazeera. >> we first told you about this controversy months ago. female soccer players now suing fifa and the canadian soccer association over plans to hold the women's world cup on artificial turf. no mens tournaments are mays on fake grass, and they say that is unfair, tom ackerman with more. football is popular in the land of ice hockey, and nearly half of all players are female. all with reasons for candidate to host next year's world cup, yet plans to play and train on artificial turf

francisco giants and got a phone call from my roommates he was raised in the bay area a die hard giants fanny the first thing he said was congratulations you're going to the land of the buildingers (clapping.) and he was right and that's who we are you believes in this team since 1958 the first time at seals stadium this group of players and every player that we're the giants uniform believed in your belief it fuels us and give us personality we sing about it every eight inning at the braurp the guy who wrote it sins it with us we've become the center of the basketball world nobody has it better than us (clapping.) but my favorite thing in the post-season was after game one in kansas city a writer asked paul that's a pretty good crowd and paul said it was but we get that every night (clapping.) and every one of those guys will never take you for granted you're one day will be great your belief and pride is the backbone of every accomplishment they've ever had that allows me to stand here before you today for the third time in 5 years and i can say we are the giants. (clapping.) >> we're san f

setback the corporate get in the way of fixing fannie mae and freddie mac?u do something like you did with freddie and fannie, the government -- the markets are going to be a stressful of the government. in the aig case and the litigation regarding fannie and freddie, these things are not helpful to the free enterprise system. the u.s. really has to bend over backwards to be a country of law , and we broke a lot of laws, a lot of rules during the crisis. >> bill, thank you so much. "senseless panic" -- don't write that around the wet socks -- don't write that around the red sox. the canadian dollar, a 1.12 handle. we say good morning to all of you in canada. >> when we come back, we will discuss it below arriving in the u.s. ♪ but good morning, everyone. we take you to hong kong at this morning -- this moment. there has been, some say, a happy disobedience. picking up a little bit right now as the cell phones are out in unison and in support of the this, onracy movement national day, and china. this is wednesday, the first day of the fourth quarter of 2014.

they have to sell these loans to fannie mae and freddie mac. take a look at this, when asking banks how have these new laws affected you. people with a lowify fico score, 31 percent of the time banks haven't been sure if they should give you the loan for the american dream. let's talk about this, guys. all right. we talked about the economy earlier. but the housing rebound. earlier in the year, i thought we were on the cusp of a great housing boom. all of a sudden a series of numbers out that are spooky. it doesn't even spell slow down maybe a housing correction. >> housing is not in free fall. there's no momentum. that's really challenging. a couple of things going on. standards remaining tight. we have to be careful with those fico numbers. part of the reason it goes up, younger people aren't buying home. the people who are buying homes, tend to be older. they have higher fico scores. we have very tight mortgage standards. who is bearing the risk of those mortgages. fannie mae and freddie mac have been in conservatorship. all the of the risk

there's also a report fannie mae and freddie mac ready to lower the bar. you got 3 percent, you might have the american dream. 3 percent, what can go wrong with this? >> how quickly can we forget history. can we go back to 2007, 2008. if you can't put 10 percent down, don't go to the bank. the banks are taking a higher risk. there's not enough skin in the game. and that's how we understand in the crisis that we had in the 2007/2008. charles: matt, you're a politician you're overseeing an economy that this is the worst post recession recovery we're getting better. do you push the needle a little bit. do you say make it easier so we can spark the economy? >> bill clinton did the same thing. everyone should have a house. we're going to go through the same. it does help to get elected. if suddenly i couldn't get a loan, then suddenly i could. now we're on the hook. when this blows up eight, ten years from now, it will come right back to us because fannie and freddie will come back. charles: eight year party ain't too bad. it's still good when you're in the mid

"the wall street journal" says maybe his loan may be too big to qualify for backing from fannie mae andeddie mac. he has mortgaged his country but bernanke can't refinance his house. has bank regulation gone too far if even ben bernanke can't refinance his mortgage? john tweeted in to say bank regulations haven't gone far enough. there should be a mandatory down payment when buying a home. michael says the process of getting a home has gotten worse. steech, do you have a thought on the housing market and if the banks are providing enough or looser regulations to take out a loan? >> it's a business of a catch-22. you need to have some sort of lending market. i think the big chang in the u.s. remains the housing market, while having picked up from where i was a couple of years ago, the follow on this year has not been what it was last year. >>> coming up, we'll get the latest on the demonstrations after the break. ♪ mr. daniels. mr. daniels. look at this. what's this? clicks are off the charts. yeah. yoshi, we're back. yes, sir! ♪ more shipping! more shipping! ♪ [ beeping ] ♪ >>> welcome

. >>> getting a mortgage with 3% down, that's what fanny and freddy say they'll do - haven't we been down this road before >>> if you like apples, berries, and others, you can't have them without honey bees pollinating

so we're seeing less small banks, and dodd-frank is not going after the big banks or fannie or freddiet some of the smaller banks and credit unions that -- by smothering them with red tape. so that's why you are seeing the disconnect. >> if you were too big to fail in 2008, now too big to fail is a winning strategy. you inoculate yourself. you leave the government no choice but to backstop you. in jpmorgan in 2006, it was jpmorgan chase. now it's jpmorgan bear stearns washington mutual, providian chase. and all of the things under it. if you look at all of the thousands of mergers over the years that are being rolled up into five or six big players in the united states, it's crazy to be wishful for that era of looking you in the eye. the system is more under host ra age by a handful of players. >> i would like to challenge something. community banks do a lot of the salt of though earthing lending. they quite frankly did not participate in the type of tread -- predator lending that lead to the housing collapse and the economy reeling the way it has. essentially right now what we see are

i want to talk about fannie mae and freddie mac.ramatically because stockholders got word they will not get any profit from the company. they had to pay for it when it went underwater. now that they're making money the stockholders don't benefit. >> the legal battles continue. you have the shareholders, the government, the stock, both of fannie and freddie to the downside. freddie mac is up right now. down five 1/2%. those are big moves. liz: it is horrible to be in a business where you supply a company who pulls the rug out from under you and you go bankrupt. that is what happened to apple supplier. going into the close. it is a disaster. >> it's a disaster. it was a $20 stock. now they are 84-cent stock. they're going for bankruptcy. they think they will be a great company. this will give them the power to do better business. they had high hopes that iphone would pick up their glass but they didn't. david: jcpenney, not quite as bad as that company. it is down significantly today as a lot of retail stocks. >> in bayer rohn's, ther

we're talking about reducing down payment from 5% to 3% on fannie mae and freddie mac loans. we still have dodd-frank to deal with. that says if a borrower puts 20% down the lender has to put skin in the game. they put up all the roadblocks for people to obtain mortgages especially at the entry level. liz: talk about mortgage rates right now. everybody plays the game, i want to catch the bottom. do you think they go lower? where are we right now for jumbo loans? what are the best possible rates to be able to get? >> you're around 4% a little beneath on 4% on fixed rates. liz: that is amazing historically. >> great time to do it. we said we anticipated this might happen. remember with qe ending stocks tend to act adversely interest rates improve. this is great opportunity for people to take action. , if you took out a mortgage 15 months ago you're at significantly higher rate, a half or 3/4. why not reduce a to a lower rate. david: you predicted pull back came in october. you're right on all counts. let me talk about dodd-frank. it seems to be so screwy. on one hand the govern

i don't want a fannie mae pullback. >> those are incredibly speculative stocks. yesterday the common and preferreds got completely crushed, but why do you think that had a broad impact on the market? market capwise, there is not much there. >> did you see the volume? there are a lot of people who have been speculating whether it be fannie mae or gopro where there is unlocking of stock. >> 5.8 million shares of gopro unlocked, earlier than anticipated. >> speculators are coming back immediately. tesla, netflix. i don't want to see a lot of speculation. yesterday one of the things that bothered me and i like this group and think it is a buy, the defense stocks got killed. you read the paper. there is no way our defense budget can stay as low as this. it just can't. you may think that is wasteful spending, whatever. those stocks got hit. they have a great secular growth story. the world has changed. there was a great piece today about russia and putin. the putin biography is selling well in china. i remember 1950/'51. that's the last time those guys were buds. we do

fanny may and freddie mac are going to lori instructions on borrowers with poor credit. >>> apple money>> lincoln said it has sold 13% more vehicles this year than last year. fury blasted gone girl out of the top spot earning $23.5 million. gone girl dropped to second place followed by the fantasy adventure, the book of life. that's america's money. i'm t.j. holmes. >> i like t.j. >> a big break in a case of a commercial robberies. details at 5:30. >> plus a potential car sale ends in a hold up and police chase. we're live on the search for a suspect ahead do you guys do instant hey, i losreplacement?ard. (snap!) what just happened? check your wallet. no. ...no way. your debit card should arrive in 7-10 business days. it's time to bank human again. get debit cards on the spot, and no monthly fee checking with just a $100 minimum balance at td bank. america's most convenient bank. [ female announcer ] just about anywhere you use sugar, you can use splenda® no calorie sweetener. splenda® lets you experience the joy of sugar without all the calories. think sugar, say splenda™ without all t

drop the down payment required for new borrowers and lower credit score requirements and also known fannie mae has actually said if you went through a short sale you may be able to qualify for a loan as soon as within two years of that hitting your credit report and regulators are now considering a plan where banks would not have to hold loans on their books as long as the borrowers could actually repay the loan, they could verify that, and the borrowers debt is less than 43 percent of their income. >> glor: if some of these loose policies are what led to the financial crisis in the first place, why are the rules changing again? >> well, the fear is that the sluggishness of the housing recovery is partially due to the fact that it is hard to get a loan, and the theory is if we loosen these requirements perhaps we will get more first time buyers into the market and we will also get something called boomerang buyers, that is three and a half million people who went through foreclosures between 2006 and 2010, three quarters of a million who went through a short sale that will will get those p

warnedople in 2007, as i thet fannie and freddie, assailant had been either because there.e banks. 40.orex report, ruble near stay with us, bloomberg "surveillance." ♪ >> "bloomberg surveillance this is -- this is "bloomberg surveillance." >> yields plunged. he was air strikes against the islamic state. should people not engage in the battle against the islamic state? good morning, everyone. this is "bloomberg surveillance ." it is thursday come october 9. let's get to the top stories. >> barclays has agreed to pay $20 million to settle a u.s. lawsuit over bringing benchmark interest rates. the settlement result claims by people and firms that traded in the eurodollar market. the british bank has paid a nearly half $1 billion in fines for submitting false rates. in italy, a victory for the prime minister. the senate approving a controversial overhaul of labor laws. the contracts make it difficult for firms to fire. that's why many were reluctant to take on full-time employees. the imf is warning that the able epidemic will have more human cost. sierra leone is likely to be

we talked about fannie and freddie. -- the same trades.o stay away from those names is what our focus is. the way out and date -- way down can be very painful. >> how do they end up in the same six trades? >> some of those are great trade ideas. when they work out, they do great. everyone is really running for the exits at the same time. after two weeks of volatility we could see its script and start to pull out rocco >> i think you are starting to see that. .he flows have been positive up about 7% year to date. the money keeps coming in despite the relative disappointment we have seen in the performance. an will see a lot of increasing level of scrutiny, particularly in the equity-long shorts. people are beginning to think how much is liquidity driven? how much do we all convince ourselves fannie mae will not be a part of the government? that takes effort. if enough people do it, it goes 100% plus. >> are hedge funds not risk managing well enough? >> it is clearly a key element of what hedge funds do. i think a key element of what we saw

fannie mae and freddie mac are making an effort to lower them to help people with poor credit. it is believed to help banks protect themselves. >>> the highly stylized tv ads that show matthew mcconaughey have given lincoln a boost. they had a 30% increase over the same period last year. two years ago, ford considered shutting down lincoln for good. >>> after successfully testing its driverless car, audi put the car through nor intense challenges this weekend. the car hit 140 mile an hour. controlled only by computers. the idea was to see if it could negotiate curves and corners without skidding and going off track. i wonder if it has heated seats, too. >>> "gone girl" finally out of the top spot. what did that? brad pitt's drama, "fury." it earned $34.5 million in ticket sales. >> gone girl went to second and book of life was third. >>> a hero carries man from a burning building. we have that rescue on camera. plus, one thing about what happened that still remains a mystery. >>> and a come covered in soot, hoisted from a chimney. why she's put in handcuffs after being pulled t

he is also a former fannie mae lobbyist. does that qualify him?hite house into backing solyndra. he told the white house look, i know it's risky. i know it's a risky venture. you know what? good companies take risks. >> one thing on resume very significant. former aid to joe biden. is he used to cleaning big messes. at least that has given him some experience in dealing with a disaster in trying to figure out how to clean up, you know, something of gargantuan proportions. >> republicans or democrats are saying wait a second is. you had an opportunity to push through our surgeon general. we had an appointment a year ago. being held up in the senate. we would have a surgeon out there generalizing. >> which is exactly what they do by the way. >> not that there is not some role for a surgeon general. in this it's not about having an individual. it's about having a strategy. it's about reacting to a crisis that you didn't see coming. you can't always see the crisis coming. but, once it comes, then you need to have some response that shows leadership an