they walked in with a hand dolly, unplug the atm and simply rolled it out the same way they came in.olice say there was $15,000 inside the machine. >> did you check the paper today? $32 million in there and some of that could be yours. the crux -- >> and this investigation is just heating up. and now the feds are involved. >> the governor makes it clear his -- the race is on. >> right now, some sunshine in baltimore. temperatures are in the 50's. winds are gusting at 22 miles per hour. le what's yours a look at what we're working on for 11 news at 6:00 p.m. the baltimore city solicitor has decided whether jack young will have to pay back money for a home he says he lives in. and governor o'malley announces his plans to keep his job. his plans to keep his job. >> some breaking news right now. we will send it out to captain roy taylor. >> on north avenue, in baltimore to the accident at this location. rehr getting preliminary reports that a fire vehicle was also involved in this accident. we do see an edge in this proximity. baltimore city police has shut down the entire intersection w

. >>> new this morning, keep an eye on your bank account if you use the atm at congressional plaza in montgomery county. police say they founa device on a wachovia bank atm in the 1600 block of rockville pike in rockville. an alert citizen saw some sort of skimming device saturday night. police are trying to figure out what that device is the bank has been notified. if you used at atm, check for strange activity on your account. >> the time is 9:08. >> this is the brake, this is to go. when you hit this, it makes, like, vroom vroom. >> the parents of an 8-year-old regretting they taught him what the go button does. wait until you find out where he was going. >> that's not a way to get out your aggression. >> yeah, the invention of pizza. how it came about. >> okay a little lesson coming up. >> and will this wonderful weather hold out for easter sunday? how about the work week? justin's forecast coming up. can i eat heart healthy without giving up taste? a man can only try... and try. i heard eating whole grain oats can help lower my cholesterol. it's gonna be tough...so tough. my wife

so she is at the atm and she steps in and says paolo, $45 million is in our account. and at that time he really had very little money in his bank account which was kind of shocking. that $45 million was part of the $175 million that he made from his bonus, for that trade for the year in 2007. so again he goes and having nothing really, and one bedroom apartment 2005, two years later he is $175 million in the bank and having a good time. so i can come he is unlikely. the other characters i track equally unlikely. there is a doctor turned investor in northern california named michael. michael was early on this before paulson or maybe others, and a headstrong guy, a little bit stubborn, he didn't always get along so well with his own investors. a lot of people didn't believe in him. he was a doctor and he's doing really well with betting on stocks, but this, as will talk at any second, this trade was derivatives, mortgages. a lot of his own investors didn't believe in him. and they were skeptical, and kind of persisted. really both a kind guy and a generous guy, but he c

and they stop to check the atm. she stops to just get some money out of the atm. and he hadn't really told his wife too much about the trade they were working on. he's a little superstitious. and he didn't want to jig it too much. -- jinx it too much. and she's at the atm and she checks it and she's like, paulo there's $45 million in our account. and at that time he really had very little money in his bank account, which is kind of shocking. that $45 million was part of the $175 million that he made as a bonus for that trade for that year in 2007's trade. so he goes from having nothing really in a one bedroom apartment in 2005 to two years later he's got $175 million in the bank in st. bart's having a good time. again, he's unlikely. the other characters i track equally unlikely. there's a doctor turned investor in northern california named michael bury. and michael bury was early on this trade before paulson and before paulson. he's a headstrong guy. he's a little bit stubborn and he didn't get on so well with his own investors. he's a doctor and he was doing rea

it's mostly an atm device to get cash. it is in its infancy. the gentleman here elude it to some of the positive and negative aspects of credit particularly for people who are not of great means and don't want to get in a situation they overextended credit. did it is a perfect means of driving growth and engine for growth in places like africa and places like central europe and places like latin america. so we at visa are committed to growing that the infrastructure in africa we are now a global public company, so we look at everywhere around the world and we try to allocate resources and i can tell you that africa is a big priority for us. >> josh, fix for joining us. [applause] reflect her right away to our distinguished panel with us this morning. i asked each of the panelists to speak for 12 to 15 minutes and we have a nice diversity and i will adjust interest in quickly and we can begin. jeff is a senior economist in the payment system studies section of the federal reserve board. economists and several studies conducted by the board, she

he is going downstairs to service one of those atms. a roche comes along spray something in the guard's face and gets distra. the robber picks up the bag of money and car comes down the street. the robber gets in the car and -- off they go. >> dangerous world we live in these days. crazy people. >> reporter: police surrounded the place. looking for clues, looking for witnesses. trying to figure out how this man with the mace pulled it off. >> i would say it happened within a matter of minutes. and he was in the car and left. >> reporter: how much money did they get? >> that we do not know. >> reporter: in the underground, people not so happy about what happened top side in crystal city. >> that's scary. we have to be more proactive. >> that's unusual. we don't usually see violence in crystal city. >> reporter: people are desperate these days and doing the wrong things. hopefully they will find them and prosecute them. >> reporter: police are working the case but so far, no suspects. no money bag. no money. i'm pat collins. news4, arling

seeing what was happening to our financial situation and seeing that people would have to go to theirat atmachines and not being able to withdraw money, i thought it was the right thing to do. much of that money is being paid back. we have to complete the job of regulatory reform. that is next up for us when we come back from this break in our congressional district. i look forward to working with the white house and with democrats in congress to make sure that we have regulation on financial institutions and ensure this will never happen to taxpayers again. host: the house passed a bill last year? guest: we did and we have to put something on the president's desk. host: going to the phone. caller: i feel like we ought to fire every one of them. they've done basic economic treason. we have no jobs left. they've shipped everything overseas. the problem is when they are in there, 30, 40, 50 years, it's the problem. i think fire them all and start over. guest: jim. thank you. i'm relatively new to the congress. i was elected? june 2008. i bring real life experience of being a worker and a moth

realizing ordinary people might have to go to their atm machines and not be able to withdraw money because of the severe crunch on credit. much of that money is being paid back by these institutions. it is messed up for us when we come back from our break. i look forward to work with the white house and with democrats in congress to make sure that we have regulation on financial institutions to make sure that this never happens to taxpayers again. we have to come together and get something to the president for a signature. it's really unacceptible to continue this long without a regular torry structure that's going to protect taxpayers. that's what i'm interested in doing, protecting the hard working people in my district so we never have to see this happen again. host: going to the phone. caller: i feel like we ought to fire every one of them. they've done basic economic treason. we have no jobs left. they've shipped everything overseas. the problem is when they are in there, 30, 40, 50 years, it's the problem. i think fire them all and start over. guest: jim. thank you. i'm relatively ne

unprecedented strength, the stabilitof the leading community bank in the nation and with 1,000 atms and thousands of branches, we're with you in more ways and places than ever before. with you when you want the most from your bank. [ male announcer ] wells fargo. together we'll go far. >>> 200,000 people will be without any income starting tomorrow morning all because congress failed to extend the unemployment benefits program before leaving for easter break. but, in a show of support, president barack obama attended easter services with his family at the allen chapel, a church located in an area of d.c. besieged by high unemployment and poverty. joining me for what is bound to be a lively debate here is the ladies. ann coulter and kirsten powers. the chicks are under the sting in the nest right now, ladies so you are safe. bahawhat do you make of this? >> it has been blocked a couple of times by two different republicans and i think that it is something that probably won't go over too well with the public in terms of the republicans are trying to put it off on the democrats for going a

these were -- debit cards were issued first in the former as atm cards. and they were essentially meant -- they were a network but they were thought of as a bank's own network of atms. and this was for their customers to access currency. this was really the first and only payment system and i'll get into a little more detail in the next slide. that has really been purely electronic from the beginning. and ultimately merchants started installing terminals to be able to accept these cards. but for many years, even though some options to use these were available, they were not very broadly available to the general public. and it wasn't really until, i think, mastercard and visa came in with their branding and getting into the debit card scene at around 1993 when we saw the number of terminals start to increase and when the numbers of terminals started to increase, card payments followed. so i think a number of us felt confide surprised when they saw the surge of debit cards initially and the use of debit cards. and i think this chart seems to display -- it r

i don't know if i've seen anything other than an atm card the last 30 years it's been that innovativeand useful but it seems like the burden of proof is actually still with you. use order for trying to ask this is self evident they shouldn't be above a certain size but i don't know that the profession has proved this yet. sprick plenty of people have studied banks lies and look where the economy of scale runs out and they find that it's between ten to $20 billion of the evidence to go from 20 billion to 100 billion is a stretch and nobody has found any evidence linking above $100 billion does anything for anyone except the guys that from the bank. that is where the evidence is right now. now i do agree completely that the pushback from the financial sector is if you do that you are calling to cause a big recession and i would remind you that is what nicholas biddle said in the 1830's. and i would also tell you that when teddy roosevelt to done jpmorgan there was a lot of concern in the stock market that this would be destabilizing. you know, they have a lot of power if they want to do

. >>> peopl using the atm machine at this bank are urged to check their statements. a scanning device was found. these use those skimmers -- thieves use these skimmers. >>> a busy day for president obama ahead. he will help the nationals market opening day but throwing out theeremonial first pitch. it is the 100th anniversary of the presidential tradition. the game gets under way at 1:05. >>> the president and first dam it block and people from across the country for the annual easter egg roll. kathy park has a preview of this highly anticipated event. are the crowds building? >> not just yet. the white house is coming alive. local of was able to grab for a live shot. bugs bunny and slice. these are one of the few celebrities that will be here today. i want to give it a quick glimpse of some of the other folks. j.k. rowling along with apolo ohno. there will be performances from justin bieber and the cast of "belglee." the theme this year, "ready, set, go!" to go along with the initiative to combat child the obesity. several activities will be set up for children as w

i don't know if i seen anything other than an atm card in the last 30 years it's been that innovative and useful. but it seems like the burden of truth is actually sort of still with you. i mean, you sort of trying to ask is, this is self-evident that they should be above a certain size, but i don't know the economist profession is prove this yet. >> well, plenty of people at citibank size and plenty of people applied for were the economies of scale run out and typically they defined as between 10 and $20 billion. so the evidence go from 20 billion to 100 billion is a stretch. no one has found evidence that they did about $100 billion of anything except for the guys who run the bank. that is for the evidence is right now. now i do agree completely that the pushback from the financial sector is well if you do that, you're really go

a lot of people got crazy in '06, '07, real estate, atm, i've always wanted a quad, an rv, i always wanted a boat. and so what we've done in the last year is reduce our spending by about 28%. and people are going, i had to do it. why don't they? you know, when i look at the government just now signing $1.9 trillion increase in the deficit to $14.3 trillion, and then i hear everybody talking about we're doing this for our children and our children's children. i'm like, no, you're bankrupting the next generation. and i think we have a responsibility to make the campground a little bit nicer than the way we found it and what we're doing republican or democrat and everybody is like oh, obama is doubling the national debt. hey, bush did the same thing from 5 to $10 trillion. and i listen to these guys, well, obama -- i go you did it. you did exactly the same thing under the guise of compassionate conservatism which to me is rebundant. conservatism in nature is compassionate when you throw compassionate conservatism we can spend a lot of money. the whole thing about helping out religion and gove

these were -- debit cards were issued first in the former as atm cards. and they were essentially meant -- they were a network but they were thought of as a bank's own network of atms. and this was for their customers to access currency. this was really the first and only payment system and i'll get into a little more detail in the next slide. that has really been purely electronic from the beginning. and ultimately merchants started installing terminals to be able to accept these cards. but for many years, even though some options to use these were available, they were not very broadly available to the general public. and it wasn't really until, i think, mastercard and visa came in with their branding and getting into the debit card scene at around 1993 when we saw the number of terminals start to increase and when the numbers of terminals started to increase, card payments followed. so i think a number of us felt confide surprised when they saw the surge of debit cards initially and the use of debit cards. and i think this chart seems to display -- it r

." ♪ "thank you, pens at the atm, for being attached to a deposit slip table by a tiny chain.ourself. no one is going to steal you, you filthy germ stick." [ laughter ] [ cheers and applause ] please! ♪ "thank you, skinny dude with long beautiful hair that i saw from the back and thought, 'man, i've got to get a better look at this. whoa!' [ laughter and applause ] sorry, bret michaels." [ laughter ] ♪ "thank you, people who make me take my shoes off when i visit your house. i hope you enjoy your really, really clean house where everybody feels uncomfortable and everything smells like feet." [ laughter ] [ cheers and applause ] "would you mind? would you mind just taking --" [ laughter ] ugh. jerry lewis' house. "would you mind if you would take off the shoes." ♪ [ laughter ] "thank you, kleenex lotion tissues, for not telling us how you got the idea to combine kleenex and lotion." [ laughter ] there you have it, everybody. those are our "thank you notes." we'll be right back with more "late night." [ cheers and applause ] ♪ depression is a serious medical condition it can tak

still, no activity from either hutcherson's or tiffany's cell phone or atm cards. >> as we know it, her day was operating as it was supposed to operate. >> tiffany's husband, david tehan, says he doesn't care what's going on, he just wants tiffany to come back. >> we love you. we care about you. and if you could see the expression of love here, you would understand how much we need for you to come back home now. >> straight out to katie wright, reporter with the "hillsborough times-gazette," joining us there at the search headquarters. katie, thank you for being with us. what's the update? >> right now, nancy, we do know that within 24 hours after tre b. hutcherson was listed as a person of interest in the case, or after he was identified, they did locate the red volkswagen beetle belonging, or believing to belong to him in north dayton. however, police are still searching for tiffany as well as tre hutcherson, and they are i believe processing the car probably as we speak. >> to clark goldband, our producer on the story. clark, what happened? between when we first heard about this stor

police say the suspects took her to an atm, forced her to get cash and later tried to sexually assault her. she fought back and was stabbed in the arm but managed to get way. >>> yesterday, dozens of people gathered to show their support of the second amendment. they rallied for the right to bear arms. they chose arlington because it is as close to d.c. where firearms are allowed. unarmed count are parts headed to the national mall. they were marking the 235th anniversary of the first shot of the american revolutionary war. >>> next steps for public transportation will be the focus of a meeting today. the maryland governor, virginia governor and d.c. mayor adrian fenty will all meet in alexandria. the thee plan to discuss what came out of that meeting later this morning. >>> president obama speaking before a crowd in california. got a little rowdy there. the president stumping for fellow democrats to raise money for upcoming mid-term elections. he is standing beside senator barbara boxer. hecklers interrupted the president several times during his speech some calling on him to repeal t

unprecedented strength, the stabilitof the leading community bank in the nation and with 1,000 atms and thousands of branches, we're with you in more ways and places than ever before. with you when you want the most from your bank. [ male announcer ] wells fargo. together we'll go far. >> grammy award winner erica badu, first public appearance since being at the center of a disorderly scandal. now the r & b star was out this weekend signing autographs and talking to fans, but she is not answering any questions about her controversial video that landed her in hot water. in the video, for her new song, window seat, the singer strolls down a dallas street taking her clothes off in the middle of day, in front of adults and children and throw at that baby off and falls to the ground at the sound of a dpnt, where jfk was assassinate and the more of three says the whole thing has been misconstrued. >> spring just arrived and we're creeping toward the holiday gas pricesment going into the holiday weekend, 85 bucks a barrel. the average cost for a gallon of unleaded stands up more than ten cents

her enormous celebrity, and oprah's even said on her show though, my family sometimes treats me as an atm machine and she's had to cut them off. so when it comes to these sources, did you at all question their credibility, are you so sure that they don't have an ax to grind? >> those sources are laid out in the book. for instance, her aunt katherine. she gets no money from oprah at all. and as she says, she wanted to tell the truth. spiders, snakes and all, that was her quote. vernon winfrey does get things from oprah. but he still has a ve vy complicated relationship with his daughter. her family feels that they are not treated as well as the celebrity family that oprah has created for herself. so, yes, there is a little contention. but the reader knows that. it's laid out in the book. oprah has taken fabulous care of her family. she does not like her mother. she does not give her phone number to her mother. but she has taken good, good care of her. >> what about the oprah, the young oprah, the childhood. what did you find out from the family members and from your sources who talked with

unprecedented strength, the stability of the leading community bank in the nation and with 12,000 atms and thousands of branches, we're with you in more ways and places than ever before. with you when you want the most from your bank. [ male announcer ] wells fargo. together we'll go far. i want to fix up old houses. ♪ [ woman ] when i grow up, i want to take him on his first flight. i want to run a marathon. i'm going to work with kids. i'm going to own my own restaurant. when i grow up, i'm going to start a band. [ female announcer ] at aarp we believe you're never done growing. thanks, mom. i just want to get my car back. [ female announcer ] together we can discover the best of what's next at aarp.org. >>> back to our panel in just a moment, but first we go wall-to-wall to put to a test some of the complaints from those we saw demonstrate today. this is a restore the constitution rally. this is just out in virginia. i went over there today to listen. you see people carrying their firearms in the national park. one of their complaints was that they believe this president wants to in

unprecedented strength, the stability of the leading community bank in the nation and with 12,000 atms thousands of branches, we're with you in more ways and places than ever before. with you when you want the most from your bank. [ male announcer ] wells fargo. together we'll go far. >>> we're already seeing some cracks in the republican pledge to repeal health care. senator bob corker of tennessee says his party's efforts to repeal the bill are futile. quote, the fact is that's not going to happen. corker told dozens of people in vanderbilt. as corker points out, republicans will need 67 senate votes and that's not likely to come along for a while. thank you, senator, for the reality check. it's a simple fact it takes 67 to override a veto and it is a democratic president who passed the ball and signed. this great nation will endure as it has endured, will revive and will prosper. so first of all, let me assert my firm belief that the only thing we have to fear is fear itself. [ dennis ] those words are just as true today as when fdr first spoke them. uncertainty will not rule our li

it was frightening to pump gas for the atm. when did you get the idea that he would investigate this? and what can't you, was a newspaper, the tv, the rest of these guys? >> having a remote control was part of it. at the time we were probably less fearful than we actually should have been. our son was running cross-country and we figured a moving target, and run if he wants to. and so, you know, basically from the very beginning i think i saw that yes there was a risk but i didn't -- i don't like to be beaten by their risk pacelli also be i should and i think i was less cautious may be that i should have been. but i did think that as i was watching the press i was waiting on somebody besides the "the washington times" which worked on in retrospect because i was reading a little lie was mainly not doing the research until later so i was mainly watching tv across the spectrum thinking surely somebody will say what the risk factor is. somebody will at least point that out but not hearing that i was kind of attuned to it and i felt

you say, well, name a financial innovation that has been beneficial and you are not allowed to use atms stops the conversation, because nobody can come up with a good idea in all of this vast proliferation of stuff. >> it has made a small number of people dramatically, dramatically wealthy in a short period of time. the wall street billionaires aren't just the firms, they're the individuals, the hedge fund managers and so on. >> that's right. >> in terms of their efforts to stay unregulated, do you think it is to keep the con going so they can keep dupes out there they can relieve of their money or because they do think it is something that could be useful for the country? >> well, everybody, nobody thinks he is a villain. everybody imagines they are doing something good. i would imagine most of these people sincerely believe what they do is good for the country even as they, some of them, are quite deliberately duping people. a little bit of double think there. the point is they are -- they have this incredibly lucrative business, very questionable, arguably negative value to the econo

it's not like getting money out of the atm.om would go quiet and the story would begin to emerge adjust to these men were as human beings, as american citizens, as our fathers and grandfathers really touched me and i try to tell it from their point of view. so that when i came to 2001, i think the challenge is that for myself as can you do that with the modern soldiers as well? what i didn't understand and you may have found some of the same challenges that when you interview people who are of the generation, they're typically retired when i were to interview with them that was to the out to dinner and paid for it at the red lobster and they were my grandparent. calling a man in his early middle-age who is part of his special forces group out of fort hamilton kentucky as part of the u.s. military that really almost never cooperated with any writer in any kind of way that i wanted to do, would likely have done with with the world war ii officers, which was i don't care what kind of batteries you use. i mean, the caliber of the m

unprecedented strength, the stability of the leading community bank in the nation and with 12,000 atms of branches, we're with you in more ways and places than ever before. with you when you want the most from your bank. [ male announcer ] wells fargo. together we'll go far. >>> welcome back to "the ed show." finally tonight in virginia today a group of arm protesters carried handguns and rifles to a rally to honor the second amendment. okay. across the river in washington, d.c., a few hundred unarmed americans gathered at the national mall to advocate in favor of gun rights. organizers say it was not a hate fest but love fest, a chance to show their appreciation for the founding fathers who gave them the right to bear arms. joining me now, terri stock, president of the second amendment march. terri, nice to have you with us tonight. i understand you're a member of the pta and hockey mom involved in youth hockey. thank you for being involved with your kids. what's the big deal? why would you protest or why did you -- afraid somebody is going to take your gun? what's happening here? >>

unprecedented strength, the stability of the leading community bank in the nation and with 12,000 atmswe're with you in more ways and places than ever before. with you when you want the most from your bank. [ male announcer ] wells fargo. together we'll go far. because with national, i roll past the counter... and choose any car in the aisle. choosing your own car? now that's a good call. go national. go like a pro. >>> coming up, fox news try to finally beat jon stewart but instead they only get beaten down again. and this time in song. and the announcer for the geico commercials had had it with the tea party, so he leaves them a nasty voicemail. now the tea party big wigs have made sure he's out of a job. next on "countdown." the abdomen-ator dr. bob bergowitz! yeah, woo! [ announcer ] she's the queen of clean! the 2009 surgeon of the year, dr. nancy mendelsohn! [ male announcer ] doctors and nurses are true heroes. at ge, we're working to give them the innovation, fresh thinking, and advanced technology they need to keep bringing better health to more people. are you ready, mr. rand

say tommy would happen when the ship sunk in 12 minutes, it is quicker than it takes money out of the atm machine and the story begins to re-emerge of who these men were as american citizens fathers and grandfathers i tried to tell it from there point* of view so that when i come 22000 on the challenges set for myself is can you do that with the modern soldier as well? what i did not understand they do may find the same challenges people of that generation typically are retired and when i went to interview them they always took me out to dinner and paid for its at the red lobster. [laughter] of calling a man in his arm a middle-age who is part of this special forces group route of kentucky part of the u.s. military that almost never cooperated with the new criteria in any way that i wanted to do it like i had done with the world war ii officers of. i don't care what kind of batteries you used the caliber of the ammunition was interesting what did you do before you deployed? they were taken aback because it was a question about humanity and have this change them as fathers and sons and cit

i don't know i've seen anything other than an atm card anything in the last 30 years that is been that useful. but it seems like the burden of proof is acts as sort of still with you. i mean, you sort of are trying to ask is this is self-evident, that they should be above a certain size. but i don't know the economics profession has proven this yet. >> plenty of people have studied banks i simply people have look forward to because of skill when it. typically defined as between 10 and 20 going on. the evidence goes from 10,000,020 but as a stretch. note found evidence that it does anything for anyone except a guy to run the banks. that's what evidence is right now. i do agree completely that the pushback from the financial sector is, well, if you do that you will really cause a big recession. and i will remind you that's what nicholas biddle said in the 1830s. and i would also tell you that when teddy roosevelt took on j.p. morgan, there was a lot of people in the stock market thought this would be destabilizing. you know, they have a lot of power. they say if they want to do damage to

i do not have anything other than atm card in the last 30 years. it's really been that innovative and useful. but it seems like the burden of truth is actually sort of still with you. i mean, you sort of are trying to ask is, this is self-evident that they should be above a certain size, but i don't know if the accounts has approved this ad. >> well, penny of people have looked for places where they find it's between 10 and $20 billion prints of the evidence to go from 10,000,000,200,000,000,000 is a stretch. no one has found any evidence that they can about $100 billion does anything for anyone except the guys who run the bank geared up with the evidence is right now. i do agree completely that the pushback from the financial site are as well if you do that, you're really cause a big recession. and i would remind you that the necklace that'll set in the 1830's. and i would also tell you that when teddy roosevelt took on jpmorgan, there was a lot of concern and the submarket this would be destabilizing. you know, they have a lot of power. if they w

she said she feels like an atm machine for her family. >> her mother used to take her checkbook after difference is my checks bounce. >> oprah's checks don't bounds. >> what was the other difference? >> i interviewed 850 people, and i'll tell you 800 of them all wanted to know about oprah's sexuality. that kept coming up and coming up, probably because she's been engaged to stedman graham. she's made an issue, because she's issued press releases about it, so consequently speculation on her sexuality has centered around her life. >> and her close, close friend ship with gayle all these years. >> and john tesh, gosh, did we need to know that? >> yes, we do. >> he admits to that. >> and so did hoda. it doesn't matter. >> so what does matter is this was in the south. think about this. this was an interracial affair in the south. >> in the '70s you're saying? >> yes, and another interracial affair in baltimore. so it was very brave of oprah in a sense. >> you like her, though, you have great respect, so you didn't want to write a book that was going to destroy her image? >> no, you couldn'

speculated in residential real estate or use their home equity as an atm machine. we must remember that 94% of americans own their home outright. they rent over the our current on the mortgage and they're being asked to bail out the other 6%. it's a policy that says to the citizens who work hard, who live within their means, who saved for a rain date, you are a sucker. when you're struggling to pay your own mortgage, you shouldn't be forced to pay your neighbors as well. the program is unfair to taxpayers, according to the congressional budget office, accountability office, they say that hamp, t.a.r.p., 50 billion-dollar program will lose 100% of the taxpayer investment. although i curious a note under the majority member for this hearing under this subchapter entitled who will absorb losses, curiously the were taxpayer is never mentioned. finally, the program hurts our economy and goes recognize that the only effective foreclosure mitigation plan is a good job with a steady paycheck and a bright future. unfortunately, under the policies of this administration and

morrissey and his wife were then tied up, taken to an atm at gun point, forced to withdraw money in this but what's interesting in this case is dr. morrissey is from south florida, plantation is a very well known community and very well known for nothing bad happening here. we're told, also, again by police that there's now a suspect, a person of interesting someone that her looking for in this case. their 5-year-old child inside that home sleeping the entire time. now, he, he's a professor, but he's more a well-known researcher and scientist. he's world renowned, known in the international researching community. his latest research project he was working on finding a cancer cure, so he was doing cancer research. took this semester off to focus on his research, now he's found dead, stabbed to death outside on his patio. police have been at that scene, that home, plantation, for the last two days. remember, this happened on monday. they've been taking things out of that home, evidence such as chairs and all kinds of bags filled with stuff, and now we're learning that he was, indeed, stabb

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and two bail-out many who bought more home than they can afford and speculator used the home as the atm machine 94% owned a home our right they are current on the mortgage and being asked to bail-out the other 6%. is a policy that says to the citizens to work hard and live within their means and save for a rainy day you are a sucr. when you struggle to pay your own mortgage you should not be forced to pay your neighbors as well. the program is unfair to taxpayers according to the gao and the cbo they say the t.a.r.p $50 billion program includes 100% of the tax payer investment although i know that nine of the majority memo under this hearing of the subchapter who will absorber the losses curiously the word taxpayer is never mentioned. a program hurts the economy and fails to recognize the only foreclosure mitigation plan is a good job with a steady paycheck and a bright future unfortunately over 7 billion of the jobs have been lost investment capital remains on the sidelines but that is hampering economic recovery surrounding a sea of debt to to put a plan to put the nation on the road

treasury announced major modifications to the atm deprogram -- the hamp program.significant indicators of default and while the actions to address some of the recommendations and issues raised by sigtarp, they have their own set of concerns. our quarterly report we've identified several of those issues and make further recommendations like continuing problems with transparency, problems with the potential vulnerability of fraud, and problems with the design of some of these revisions. it may lead to them being ineffective or to arbitrary results. it risks that the hamp program will be remembered not for being the catalyst for recovery in the housing market but for its bold announcements, modest goals, and meager results. we also review what we're doing in our investigative division. and with your insistence on the creation of sigtarp or the invest -- over the objections of many, in recognition that in part with the program of this size, it would drop those who seek to profit criminally off a national crisis. it is because we have been building a sophisticated whit

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when their homes kept going up in gallo -- in value and they were able to take money out of it like an atm machine. they can do it anymore, and they feel that loss of wealth and that is how they measure their own prosperity. i think it could be all or some of that. but there is no doubt that if you have any kind of a brokerage account or a mutual fund or a 41 k retirement account through an employer, that your returns are better. they can't possibly not be because everything has recovered in terms of the market. unless you are only invested in real estate, you should be seeing you are better off. if you have no investments at all, then you would not be better off. but the poll was going to a broad cross-section of americans. and so, it is mathematically impossible for them to not be better off. host: paula dwyer, thank you for joining us on c-span. guest: thank you. host: coming up later, if a child is in foster care what are the success rates for that individual to go on to college and get a job? new figures are coming out and we will talk about that in our final hour pared coming up in a

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speculated in residential real estate or used their home equity as an atm. we must remember that 94% of americans own their home outright. they rent or they're current on their mortgage and they are being asked to bail out the other 6%. it's a policy that says to the citizens who work hard, who live within their means who save for a rainy day, you are a sucker. when you're struggling to pay your own mortgage, you shouldn't be forced to pay your neighbor's as well. the program is unfair to taxpayers according to congressional office, general accountability office. they say h.a.m.p. from -- who will absorb losses curiously the word "taxpayer" is never mentioned. finally, the program hurts our economy. it fails to recognize that the only effective foreclosure mitigation plan is a good job with a steady paycheck and a bright future. unfortunately, under the policies of this administration, and of this congress, over 7 million of these jobs have now been lost. by creating an unpredictable artificial market investment capital remains on the sidelines thus h.a.m.p.

in the case of overdraft protection, the fed recently put out rules requiring of dan and debit card, atmwant to make sure that their mortgage is paid for their coffee gets paid. in any case, we are looking at that very seriously and will try to come up with a solution that will address the problem you are talking about. >> i have had the personal experience of going in and checking a balanced before i get some cash out on a saturday and it says i have $130. i take out $100, and because of the reprocessing, it did push me into an overdraft. that is how nefarious it is, and most people do not go on line and follow it like i do. they are just preying on people. i just think is very difficult to deal with all these issues. if there is a morality in the industry that says ultimately our goal is to get money from people, not necessarily to see them have a successful commercial real estate venture or a successful home loan, but to package and sell and move on. >> thank you. welcome to the committee. dr. paul made an observation that bears repeating. it was the concept that banks that got into t

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