post them a anthony sanders is a senior scholar -- host: anthony sanders is a senior scholar and is here to talk about what ben bernanke had to say about the end being near on stimulus. the fed chairman earlier this week announced plans for winding down the central-bank stimulus policies starting this year. welcome to the program, sirg. uest -- sir. guest: thanks for having me. about whatus more the chairman had to say and what has the reaction been so far? , first of all, we are not going to do anything. we are not going to lower rates anymore. we are going to continue to buy mortgage-n worth of backed securities from fannie and freddie and fha. he said they might start curtailing this a little bit. the reaction of the market was lethal and quick. the stock market plunged 400 points over two days. just a little friday, but it is still coming down. interest rates popped up words. it has gone up a lot. and in this morning's wall street journal -- 's ": and in this morning wall street journal," there is this article. guest: that is a good quote. the answer to that is that we don't know. we

host: we are talking with anthony sanders of george mason university.e is a professor of finance and the distinguished professor of real estate finance. sis primary research interest include financial institutions and capital markets with interests in real estate, finance, and investment. our next call comes from richard in florida on our line for independents. how is it that if the american people realize we spent $1 trillion to prop up the markets? i think the american people have something to say about this. we cannot keep buying our own stuff and expect the whole world to change. it is not going to happen. how do we get out of this mess now? i will stand by and with for an answer to that one. guest: i will -- i would like to know how we get out of that mess, too. the speedy, organized bankruptcy. off.bit it let them swallow it. bailouts are distortion airing and i do not think it is appropriate. congress -- bailouts are distortionary and i do not think it is a program. congress does not call it a bailout. once you start building out, how to use scot

what that means for ou own the recoery, the consumer education president for credit.com and anthony sanderringsestate finance professor at george mason univsity. starting with jerry because i know you think a lot about conser issues. how important is this going to be to consume finances? could it keep somebody out of the housing market? >> it absolutely could keep somebody out of te housing market because if you think about it higher rates means higher payments, and we're in an environment where it's very competitive ad where there's tighter underwriting standaads so if your payment goes up, you may not qualify for that mortgage that you qualified for a month ago. gerri: anthony, is tis going to put the brakes on thehousing recovery? there's monster rates, will it continue if hey rise? >> no. right now, we are seeing what we sometimes see with a mortgage application, the purchases, and when rates go up, people panic, house prices go up i have to app for a mortgage right now we are seeing a little of that, but the problem is as was said, credit still is tight, freddy and fannie have the hammer d

tomorrow on "washington journal ," the federal reserve's plan for stimulus programs with anthony sanders of george mason. tolowed by issues important younger americans including student loan interest rates and youth unemployment. we are joined by matthew segal. they use a photo database of almost 120 million people to and we willpects talk to the national reporter. washington journal live at 7:00 a.m. eastern on c-span. >> this is a challenging time for people who are conservative. we have a quite liberal democratic president who has not only been elected but reelected after putting in place some ideas and programs and projects that, i think, are very wrongheaded. they had a chance to think about that and they reelected him. it's a challenging time. .t's also an exciting time what we're trying to do is modernize conservativism and and bring it in line with what the country is facing now to help the country and conservatives think about how to confront the challenges of the 21st century. neither party is doing a very good job of that. there's a lot of opportunity to think about what ameri

look at the a federal reserve plans for a stimulus program with anthony sanders of george mason.in a discussion on issues important to young americans, including student loan interest rates. egal.e joined by matthew siega we will talk with the national technology reporter. plus your e-mails and phone calls. live saturday at 7:00 eastern on c-span. here is a look at our schedule. starting at 8:00 on c-span, president obama nominates james comey as the fbi director. immigration policy which the senate will continue to debate with a final passage debate before july n3, the latest on afghanistan. all this tonight on the c-span networks. >> when you talk about transparency, you are going to give up something. you will give signals to adversaries. the more specific you get about programs and about the oversight , the more specific you get about the capabilities and the successes to that extent. you have people sitting around saying now i understand what can be done with our numbers in yemen and in the united states, and i will find another way to communicate and i will keep that in min