charter and regulate federal credit unions. . while much of the economic downturn happened in the crisis, credit did not -- overleveraging, nor the lax underwriting standards. unlike many of the mortgage originators throughout the housing crisis, credit unions held them in their portfolio. as of late last year, roughly 70% of the credit union mortgage originations were held in portfolio with only 30% having been sold into the secondary market. because credit unions generally took a conservative approach to banking, they avoided many of the problems that we saw in other institutions. this approach has left them well suited to play a significant role in the economic recovery. certainly the 90 million credit union members nationwide will continue to rely on these institutions for their everyday banking needs. i think it is worth noting the impact credit unions have had on communities around the world. credit unions provide a great opportunity for people to pool resources and thereby create an important source of liquidity for persona

all credit union mods. >> net worth at credit unions improved in the second quarter.l that's going on in the economy i think that's quite an achievement. >> there is even a slight increase in small business loans coming out of this state. so many people are now coming to credit unions that new deposits pushed their cap pal base up over 9%. we don't know how much of the lending at west coast credit unions is because traditional banks have tightened their lending and people are going to credit unions and how as much a general sign of overall improvement and how nationally credit unions are loaning more across the board. the fact there's been such an uptick in hard-hit california is being seen, erin, as a real positive. let's hope so. back to you. >> we all hope so. thank you, jane. >>> next, another september stock play for you as we promised. rock, paper or scissors. we'll be back. >>> oil prices unchanged here. $68.05. s&p 500 ignoring some of the data on supply. plunged by far more than most expected. the gasoline market is supported, but hasn't translated to oil. go

, credit unions, almost none have failed anywhere. ncua, which is the credit union equivalent of fdic -- >> caller: that's right. >> i don't understand at all. what justification do they give for leaving the federal nest? >> caller: well, it's funny you say that, because, you know, in the letter they say they're going to be assessed a premium up to like $675,000. it says it's like .15% of all their insured shares. >> no. they should just pay the premium. >> caller: thank you. >> you know, the banking system is short on money because of all the failures of financial institutions and so there are these assessments hitting financial institutions, and that's what this is part of. and that is not a good reason to go from a federally insured credit union to going to not having the full faith of its members. i would tell you that they are making a big mistake and encourage you to vote no. in fact, if the vote passes, i would take my money out of the credit union and not hang with them, and i would hope that other members would realize the ri

>> i'm a huge fan of credit unions. we all have to borrow sometimes, whether it's for student loans, a consider loan. credit unions have much lower overhead than banks, so -- and they also cater to their members. you have lower rates. for example, if you are going to have a four-year car loan, the averagecate rate at a major bank for a car loan is %. credit union, the average rate is 5.25%. if you save a lot, you'll pay less over the long-term, and those interest rates really add up. >> at the same time you are trying to cia money, you also have goals in mind. you want to save for college. you want to cia for your child's wedding. how do i save for college? >> well, you want to make the cost of savings for college not cost you money. 529 plans are a great way to save money for college because you get a lot of tax advantages, so you don't have awe big tax bite. two-thirds of new 529 plans are sold by brokers, and brokers charge a really steep fee. you don't have to buy it pray broker. you can go to a website called savin

the state department federal credit union tells its members that as soon as children can count introduceto money. you have to take an active role in providing them with the information and resources b but once they get started it should be an exciting exercise to them. kids respond when you give them a chance to get involved. allow your children to make small buys and offer advice to help them understand the value of what they are purchasing. >> i have a 13-year-old son and it is not like it used to be where he could get a job after school. do you have any suggestions on how i can teach him the importance of money? >> kids are never too young to take on responsibility. if he is earning an allowance for codoing work around the house try to find specific jobs in the neighborhood that he can do, like mowing neighborhood yards, walking dogs or shoveling snow and baby- sitting. that's the only way he will learn by doing. >> my daughter is going to college next year, how do i make sure that she understands that credit cards aren't free money? >> teaching young adults about credit cards is a ch

and that is not a good reason to go from a federally insured credit union to no longer having the fullhe accounts of people at the credit union. i would tell you i think they're making a big mistake. i would encourage you to vote no. and in fact, if the vote passes, i would move my money out of the credit union. i would not hang with them. and i hope that other members realize the risk that they would be taking on and also vote no. david is with us. what are you thinking about doing with your credit card? >> hey, clark. you make me look so smart to the person that most matters to me most, my wife. i keep getting brownie points. here the thing. i have found out that over the last month my credit score went up 15 points. i notice how i did it by raising it, by looking at the balances. i follow my balances every day and pay it off every month. i don't carry balances but i use the cards heavily. so what i do is i pay the balance before the credit card company can report it to the credit agencies. because you know, if i paid my credit cards off the day they were due, or when they asked for

. >> he received $50 from the credit union and budget dollars and the armored car -- and $500 from thearmored car company. >> this girl takes a cutout of her boyfriend everywhere she goes. he is serving in iraq. this is a life-size cutout. >> everybody loved it. >> i would carry that cutout around as well. >> the boyfriend is in shape. that is a good thing. >> i would carry around a cut out of you. >> sure you would. a say anything now. it is 6:41. we will take a look at the headlines when we come back. >> we will let you know what is going on as far as your morning commute. >> a quiet morning on hd doppler. beautiful skies today. 63 at bwi marshall. 67 downtown. >> welcome back. investigators look into a shooting he was involved in. it started at his home this afternoon and ended with a suspect critically injured. surge in his home. the officer chased the suspect for three blocks. the suspect is listed in critical condition this morning. howard county will spend 18 months in jail for sexually abusing a 14 year-old student. cuaderes, a teacher at a charter school pled guilty today. hom

one credit union has launched an account that awards interest for using the debit card.are the would've for some banks. southwest airlines continues to fly with unauthorized parts. >> the maker of grand theft of video games is expecting its third quarter loss. the sales plunged. sales for the quarter topped analyst estimates. they are willing to pay $20 million to settle a lawsuit. the lawsuit is because it did not say that there were some sex scenes on the video game. the faa is giving southwest airlines until christmas eve to replace the airline's that do not pose a safety risk for passengers even though they are not federally certified. financial shares leading the decline. some investors talking about more losses ahead for the banking industry. the bloomberg index fell for maryland. legg mason falling even though the company may be an acquisition target. citigroup raising its ratings on shares to buy and citing a positive risk/reward picture. i am reporting for wbal tv 11 news. >> there is no doubt that times are very tough. that could be why some familiar faces are

they're going to the smaller bank, community bank, credit unions where you get higher rates on depositsxperience. >> and do you have the sense about customer service? especially in new york. there's a bank over corner now. is the service any better? >> if you look at jpmorgan chase, bank of america, they're closing their branchs. a lot of industry consolidation. the banking experience has taken a hit and customer service has taken a huge hit, which is why people are going to the smaller banks and to credit unions. it's a painful experience. >> you have to pay attention. >> pay attention. >> there you go. all right, thanks so much. now from finance to facts. spend your money wisely. >>> new york fashion week wrapped up the other day and we got a back stage peak at the glamorous life of a fashion magazine editor. >>> assii'm the senior fashion editor. fashion week is where all the designers flock to show their collections for the next season. so new york fashion week, it's my job to be out there and to find the new trends that we'll be using and shooting. so three three components to fash

instead, shop around for another card to surf your balance too, head to credit unions, online banks and community banks. they offer better rates and terms of our days of having a good, cheap relationship with our lenders may be over, but we still have the power to move our business to the competition. i'm carmen wong ulrich for cnbc. >> tonight at 7:00 on "nbc nightly news with brian williams" your money your head. congress gets back to work. but with the latest developments is a public option still on the table? >>> still to come this afternoon at 4:00, a world famous movie maker on the run for 30 years is defying the u.s. government over its rape conviction, and he has high-powered support. >>> always controversial director comes to town today to premiere his lates film. >>> deadly flooding spawned by the type fan. at least 240 have been killed, at least 37 are missing. storm forced 600,000 people out of their homes, some 375,000 into evacuation centers. in all, an estimated 1.8 million people have been affected. most of manila is flooded, after getting more than a foot of rain in 24

the credit union gave him a $50 gift certificate and the security company threw in another $500.t would you do if you pound a 500 pound bear in a tree in your backyard? that is what one home ownern montana is trying to figure out. right now the bear is quite the neighborhood celebrity with neighbors taking plenty of pictures from a distance. you need that zoom lens. >>> washington, d.c., is a mysterious setting for best-selling author dan brown's latest novel, "the lost symbol" which follows "the da vinci code." as tracy potts reports, you don't have to be a fan of "the da vinci code." >> this is the temple room blocks from the white house. it's here where dan brown's new mystery, "the lost symbol" begins. the building usually gets 5,000 visitors a year. with all the atttion from brown's book, they are bracing for more. thinking about replacing the carpet, hiring more guards, maybe even charging for tours. >> we don't know how to prepare for this. >> when brown features this world scottish church "the da vinci code" tourists more than quadrupled. >> they join a church, they look

i also took out a personal loan from a credit union.nd also had purchased a vehicle with my grandfather as a co-s h co-signer. i let all of those things get away from me. i decided to get in to music and do the musician thing and i didn't pay for a lot of them. my credit is not in the best of shape. i need to figure out because i have no idea how to get it back on track with a good credit score. i haven't had any credit cards or anything like that. >> first, on the student loans, you know you have to bring the student loans current. >> caller: okay. >> of the things you mentioned, the student loans are the one things that will follow the rest of your life if you don't make amends on those. >> caller: okay. >> so, the first step to getting your credit on the right path. >> caller: mm-hmm. >> you need to go meet with a default counselor. i would get started with that. your grand dad co-signed the car loan? >> caller: yes, sir, the car got repossessed. >> it did. you're paying off the balance? >> caller: the balance. >> well, that's good.

use electronic bill pay with your bank or credit union.n't have to worry about this. i'm clark howard. with more ways how to protect yourself, go to cnn.com/clarkhowa cnn.com/clarkhoward. >>> catch clark at noon eastern on saturdays and sundays right here on hln. [barks] (man) if you think about it, this is what makes the ladders different from other job-search sites. [screeching] we only work with the big talent. [all coughing] welcome to the ladders-- a premium job site for only $100k-plus jobs and only $100k-plus talent. savings is so important to our customers. i want to give them a card that's going to be useful in their wallet. we have a program right now called add it up. add it up is a way for a customer to shop online and earn extra cash back. we do have a power rewards program. where yoearn points for that cash back, to be automatically put back into your checking account. every purchase that you make, you're going to be earning points back. so, i mean, we find ways to help customers save money. that's my bank of america card. th

navy federal credit union. we serve where you serve. the u.s.ce, the aerial warfare branch of the u.s. armed forces, initially part of the army. they were formed as a separate branch of the military september 18th, 1947. and while the air force celebrates that date as its official birthday the history of the branch stretches nearly as far back as the airplane it. we salute you. beltran, fur me, francoeur, bottom of the second. jd martin the first pitch, strike. carlos beltran hitting safely in 16 of his last 20 games. >> games. >> rob: so when orville and wilbur wright were throwing rocks out of their plane that's when the air force started. >> not long thereafter. up the middle. the nats hd him played pull and desmond can't get there. nationals mets have their first base hit. >> rob: well his range is going to be a little limited at this point, he is learning the position, he dives maybe a little bit late, tries to pick it up and make a great play. that would be tough for beltran anyway. >> bob: when he is healthy he is one of the best players

we should go to the credit union and suprt the smaller banks. >> yes. that is one of a great things that patrick does in t book is he articulates so beautiful d is employee the 21st century securitization process. when my dad bought our first time he sat face-to-face with a banker and it was a member of themunity, involved in sports and charities. what the 21st century brought us was securitizations the we have a lender and iceland lending money through lehman to a mortgage broker thej eventually to some bus driver and newport beach living in a $300,000 from that has note and come verified on the mortgage application. but wdo need to go back to the smaller banks. >> there was one with a nine jim mortga wendy toeople with know income and no assets. [laughter] >> 400,003 year bus driver because he did not have to put down his and come. cupation? bus driver income? 400,000. then makes a two a did $50,000 check and take out mortgages they could not possibly pay back. e people that lent the money the brokerage house did not care because they sold it to lehma

the wisconsin credit union security cameras show the suspect handing a note saying he has a gun and wants money. the guy in the yellow shirt goes to work. he runs up, tackles the robber and holds him down until the police arrive. >>> a legally insane killer who escaped during a mental hospital field trip to the county fair has been recaptured tonight. phillip arnold poll was caught walking near a road, the same deputy that arrested him after another escape back in 1991, caught him today. the authorities said it was a race against time to find the patient before his medication ran out of his system. he killed an elderly woman in 1987. the police are questioning why a criminally insane man was allowed to go on an outing to the county fair. >> this is a situation that in my opinion should not have happened i'll be asking the state legislature and governor and department of health sciences to change laws so this doesn't happen again. >> the governor of washington state says she is gravely concerned and has launched an inveigate into the incident. >>> still ahead, a bittersweet good-bye for a

you have to have a cap on credit card interest rates, credit unions have been living quite well withke a hard look at that. >> great to have you with us tonight. thanks so much. >>> coming up, it's my favorite time of the year, the nfl football season kicks off. stephen a. smith is in the house. brett favre, he just won't give up. and the redskins are ripping off their fans. stay with us. you're watching "the ed show" on msnbc. job security to provide for your family. it's the fabric of a sound economy. it built the middle class. and it's what the employee free choice act is all about... letting workers choose to join a union to earn better pay and benefits. the employee free choice act. it's time the economy worked for everyone again. >>> it's still not too late to let me know what you think. will the president's plan to ban preexisting conditions lead to a public option? ♪ we will not be quiet. ♪ when we're in a sandwich, you'll know it. we are our own mixed up blend of one of a kind spices. we are miracle whip. and we will not tone it down. i just gave you some at the restaurant.

credit unions, -- a host: is there a difference in the the bank's or credit unions and what you mightarged. they tend to have their credit cards actually have interest rate caps and they tend to have fewer fees. host: you talked about the credit card companies provide the interest rate, typically, how much interest you pay if your late on a credit card payment. guest: you get charged a late fee, typically around $39. and i have also been going up. host: also, the interest rate is anywhere from 20% to 25%, correct? >> guest: they can be up in the 30's. host: what did they do in the spring? guest: they passed this law that credit card companies cannot raise your interest rates at any time for any reason. you have to have made a late payment. if you're on time for the next year -- actually, the next six months, they should return you to your original raid. host: will they do that automatically? do you need to contact the credit card company and say, i have been on time for six months? guest: they should do it automatically, but you'll probably have to call them. and also, banks -- the cr

use electronic bill pay with bank or credit union, you control the payments and stop them when you'reou don't have to worry about them taking money they're not entitled to. i'm clark howard. with more ways for you to protect yourself, go to cnn.com/clarkhoward. >> he's got the goods. great consumer advice. clark howard saturday and sundays noon and 4:00 eastern, he'll haelp you spend less and avoid getting ripped off. xwxwxww >>> happening now, deadly flooding across the southeast as much as 20 inches of rain dumped on georgia since friday. torrential downpours are blamed for two deaths, one near chattahoochee, and rescuers searching for a man who bragged that he could swim across a flooded ditch. two motorists were killed trying to drive through floodwater. hundreds of road georgia have been closed. several school districts canceled including gwinnett district in atlanta. >>> trees are down and power has been cut to a lot of western north carolina. forecasters issued a flood alert for north carolina, georgia, tennessee, and alabama. >>> three men suspected of plotting a terrorist att

by doing that, the people and the local banks and credit unions know the clients, they know the market of the area. all they are doing in new york is doing things like the wizard of oz behind the curtain, coming up with crazy schemes and so forth. the other thing that is crazy to me is, they're saying how much more money do we need to spend on health care. in france, they spend 10% of their gdp. they are number one in the nation. we spent 2% of the gdp, and we are 37th hundred what we could do with that, we could add 512 dozen more police officers. we could have one more million more nurses in schools. we could have summer youth jobs for our kids. we could take $80 billion a year and give rebates, which would provide them for 20 million new cars, and that would put wall street back on the top. we should also tell them they have to be american cars if they're selling cars and getting rebates. host: our question now is how should wall street be regulated. "with the markets slowly healing, mr. obama's plan faces a diminishing political imperative. disenchantment wby many americans with bi

you probably heard of agricultural co-ops and credit unions and there are medical ones in existence ines like seattle and minneapolis. they're just non-profit organizations that say they can provide better coverage at a lower cost for members. profits are put back into the system so any money that's earned is used on patients and other costs. the patients run these things, they elect boards, they take votes, so at the end of the day, it's a non-profit doing the same things as your hmo. >> we get an idea of how it kind of works but still for someone in one, how does life change for somebody who is in one of these things? >> it wouldn't be that different all together. look for patients, co-ops work just like private insurance, their premiums, copays and most enrollees see doctors within a network. it could be cheaper than private insurance but it's not necessarily so. some of them also see increases year to year so i think at the end of the day you'd see some increased costs but maybe not as much as the private carriers. >> so much to look at. we don't know if a co-op will end in a final

go to your credit union.send you, nfcc.org, get a nonprofit credit counselor. because what you're finding out, kay, when it comes to your business and your personal credit, your business cards and your business debt is actually relies on your personal credit history. so the two mesh. so be very careful with it. >> good luck, kay. and now let's go back across the street to dean & deluca and natalie. >> from clinton, indiana, dick, you have a question about gold? >> yes, i do. i keep hearing from financial advisers and stock brokers to buy gold, buy, buy, buy. gold reached $1,000 an ounce yesterday. >> mm-hmm. >> do you still buy gold, and where's it going to go? >> well, you've got a nice necklace going there, i'll tell that you. go ahead, carmen. >> invest in the bling, i guess. >> it's not real here's the thing. gold, it did reach a really amazing high. but it's a hedge against inflation. during recessionary times, commodities, people flock to what you can hold and feel and touch. so prices have gone up. so

. >> you sort of heard of the idea, agricultural, electrical co-ops, credit unions.re in places like seattle and minneapolis. co-opts are set up as nonprofit organizations, they say they provide better coverage at a lower cost, the profits are put back in the system so money earned is used on patients and costs. now, patients and co-ops run the board. they hold elections, discuss issues, concerns and under this bill taxpayers would contribute up to $6 billion to co-ops for start-up costs. it's estimated that opens could cover 12 million people. heidi. >> how would life change for people in a co-op? not everybody is in favor of this. >> for patients, co-ops work like private insurance. there are premiums and most see doctors in a network. health care would be cheaper than private insurance but not necessarily always less expensive. it depends on the competition in your market. group health cooperative in washington state, that's the last surviving co-op, it's become kind of a prototype for the senator's plan. while premiums increase at a slower rate compared to compet

>> you have heard about cooperatives, agricultural cooperatives, electrical cooperatives even credit unions and there are already health care cooperatives in minneapolis and seattle. profits are put back into the system so any money that's earned is used on patients and other costs. and patients in these co-ops really one the whole thing, they run the board, they hold elections and discuss issues and concerns. >> and how could life change for people in a co-op? >> for patients, co-ops work just like private insurance, there are premiums and co-pays and just like an hmo. it's not necessarily less expensive. really it depends on the competition in your marketplace. group health cooperative, that tease company in washington. this is one of the last surviving co-ops in washington. and while premiums and group health increased by a slower rate compared to their competitors, they still have significant increases, up to 12.3% since 2000. one of the highest start up co-ops is creating a fairly large network of doctors. so the doctor you use originally would not be the one you would use in a co-op.

i think the community banks and credit unions should be exempted from the cfpa by umbrella. they did not cause the problem or create the financial crisis. in fact, as i and many of my colleagues on this committee believe, community banks and credit unions provided some liquidity to local markets at a time when the large banks and the non-banks have frozen liquidity. why should they be punished for actions of others? >> they should not pay. -- they should not be. fwe have a system with 9000 bans including thousands of community banks that were not part of the problem and are playing an important role in providing credit. we need to preserve that. you have to make sure that we're protecting them from the risk that competitors not subject to regulation can take business away from them and they are forced to compete by lowering standards and engaging in the same practices. that is what you need a more level playing field. you are raising understandable concerns about this. we are sensitive to those. we would be happy to work with you and your colleagues to get that balance right

maybe a credit union.nd together in your geographical area so that you have purchasing power. you buy together with whoever you want to purchase health care. you get to purchase what ever level of insurance coverage you want from whoever you want anywhere you want. today, the federal government gives a partial monopoly to insurance companies in every state in the country. did you know that? this is something the federal government can get rid of. it costs no tax money. you buy together with whoever you want for purchasing power. wherever you want, in any amount you want. you can use tax-free money that you have set aside to buy it. you can deduct it fully from your income tax return. many have true lawsuit reform. that solves 95% of our health care problems. we have not spent federal tax money to do it. it is called freedom. it is called freedom. that is the route we want to go. we look forward to your questions. >> did i not tell you that i have the greatest drop in the world? this is change you can belie

you know, everybody heard about co-ops whether it is agricultural or electrical, credit unions another example. there are health co-ops in existence today. they are set up at nonprofit organizations. they say they can provide better coverage at a lower cost for their members because profits are put back into the system. any money that's earned is used on patients and other costs. patients and co-ops really run the whole thing. they run the board. they hold election. discuss issues, concerns, have meetings. under this bill taxpayers would contribute up to $6 billion for co-ops startup money and they could cover as many as 12 million people. >> how would life change in a co-op? >> for patients co-ops work like private insurance. there are premiums and co-pays and most see doctors within a network. health care and co-op would be cheaper than private insurance but it's not necessarily always less expensive. it depends on the competition in your market. group health cooperative in washington, that's the last surviving co-op, it became a prototype for the senator's plan. while premiums incre

have their credit cards, because we support them, we are part of the problem we should be having credit unionsupporting the small banks. >> that's one of the great things patrick does in this book. he articulates so beautifully and simply this 21st century securitization process and lending. in other words when my dad bought our first home he sat face-to-face with a banker and that a banker was a member of the community, that banker was involved in sports and charity and this like that, and the 21st century brought was securitizaon so you had a lender lending money through lehman brothers to a mortgage broker and lending money to some bus driver at newport beach living in a $300,000 home that had no income verified on his mortgage application. so we do need to go back to smaller banks and hopefully they will have the sense to break these big banks up. >> that is one of the classics is the ninja mortgage went to people with no job and no assets. [laughter] it's the 400,000-dollar a year bus driver because he didn't have to put his and come down. so occupation, bus driver, income, 400,000. to hu

go to any credit union or bank that has financed these, there are a lot of loans that would have never been made and then ask state and local government who collected sales tax on the sale of these. this is a win, win, win, win for our economy for the automobile industry, for the little people who work in the industry, who sell cars, who are mechanics who practically were out of work and every dealer will be paid on or before the end of september, $3 billion. >> do you think the administration -- >> you know, i'm going to leave that up to congress. >> another question. you mentioned the clean air act authority and you have been sending preliminary work over to o.m.b. regarding carbon regulations, including for p.s.d. are you laying the groundwork for carbon regulations should congress not act on climate change legislation? >> i prefer to frame it as e.p.a. will continue to do its job, which is to respond to the now two-plus-year-old supreme court ruling that e.p.a. needed to make determinations about whether or not the clean air act authorities apply to greenhouse gases and that's base

be shedding the light, if you will, on what schools offer credit cards that may be getting a kick back. >> reporter: money the consumerrers union some schools get for giving credit card companies not just access to the names of students but, also, a place to recruit them. they are not welcome everywhere though. several states including maryland have already banned credit card freebies from campus and made it clear their student information is not for sale. >> it's a situation where their college or school becomes a predator. >> but the american bankers association is quick to down play saying so-called affinity cards are aimed at alumni and 5% of company co-eds got their cards from displays or events around schools. but more students are carrying plastic and spending big. a sally may study found half of all college kids have four or more cards and students are graduating with an average of $4,100 in debt. >> it's not worth it. not at all. if i could take it back i would have because i didn't know what i was doin'. >> but the consumerrers union wants to make sure students like tiara and their parents know what it takes to ace cr

i also took out a personal loan from a credit union and i also had he my credit is not in the best offigure out how to get it back on track with the credit score. i haven't had any credit cards or anything like that. >> well, first, on the student loans, you have to bring the student loans current. of the things you mentioned, the student loans are the one thing that will follow you the rest of your life if you don't make amends on those. >> okay. so the first step to getting your credit on the right path, you need to meet with a default counselor. you said your grand dad co-signed the car loan. the car actually got repossessed. >> but you're paying off the balance -- >> the balance. >> well, that's good because you're cleaning that up. all of that stuff is going to take seven years from not when you turned 18 but from when you stopped paying and seven years before those things completely start harming. so that means you're not far away from the negative of these things disappearing from your report. although the items stay on your report for seven years. the good news for you is that

and by navy federal credit union. where you serve.   in sell probation of the birthday of the united states air force, today, roughly 500,000 active guard and reserve airmen that are proud to serve america, the united states air force, stands ready to fly. bob carpenter, rob dibble. welcome back to new york. good ball game for the nationals so far. a nice night for josh bard. been a great night for josh bard. you got your other catcher, will nieves hurt, will go out and get a trade for somebody. big home run, great play. j.d. martin, 5-2 lead, josh bard plays hard every day, like pete orr, guys like that. watch them come out here at 2:00 this afternoon, yes, two weeks left in the season, these guys are still taking extra batting practice early in the day, so it's nice to take josh bard and having to pay off for them. >> bob: a lot of these guys are wondering about their jobs for next year and they have to come down to every game. >> rob: your work ethic goes a long way. the more y

new can band together with whomever you want, maybe teachers, farmers, realtors, maybe like a credit union. you bind it together in a geographic area so you have purchasing power. you bind together with you every want to purchase health care, the new bid to purchase whatever level of insurance coverage -- then you get to purchase whatever you want anywhere you want. today, the federal government gives a partial monopoly to insurance companies in every state in the country. did you know that? this is something the federal government can get rid of, and it cost no tax money. so you on your health care. you bind together with to everyone for purchasing power. then we let you use tax-free money you have set aside to buy it. over and above you can deduct on your income tax return, and then we have true lawsuit reform. that's all 95% of our health care problems, and we have not spent federal tax money to do it. it is called freedom. that is the route we want to go. thank you so much. we look forward to your questions. [applause] >> this is change can believe in. there are three microphones set u

you can band together with whoever you want, teachers, farmers, real jurors, may be a credit union.you bind together in your geographical area to have purchasing power. you on your own health care and bind it together whoever you want to purchase health care. that you can purchase anywhere you want. today, the federal government gives a partial monopoly to insurance companies in every state in the country. this is something the federal government can get rid of to cost no tax money. you on your health care, bind together with whoever you want for purchasing power, buy it from anywhere you want, anyone you want, in any amount you want, and then we let you use tax-free money that you have set aside. anything over and above you can deduct on your income tax return. then we have a true lawsuit reform. that style -- that sells 95% of our health care problems -- that solves. it is called freedom. it is called freedom. thank you so much. we look forward to your questions. [applause] >> did i not tell you i have the greatest job in the world? this is change you can believe in. if we have th

whoever they prefer, whether it's realtors or teachers or farmers or maybe a community like a credit union, you come together in a geographical area, you join together with whoever you want to buy a policy. so you have purchasing power. next we want people to have freedom to buy any policy they want, anywhere they want in the country, from anyone they want to purchase the policy from. true choice in purchasing insurance. then as my colleague said, we want people to be able to set aside in an account, whether it's $5,000 a year or $10,000 a year or $15,000 a year, tax-free. in other words, you take that money out of your earnings or out of your savings and you put it tax-free in an account, up to a certain amount, if you spend more than that account then you can deduct those health care savings off of your income tax return. that would include eyeglasses, dental work, hearing aids, whatever your health care would be, you get to fully deduct that. then finally we want lawsuit reform so that we don't have unnecessary spending so that doctors can try to protect themselves from frivolous lawsui

>> caller: assistant broofrn manager for a credit union in maryland. >> host: go ahead with your comment. >> caller: well, i currently have insurance through my husband since i'm not working right now. i really honestly feel that we do need to pass healthcare reform and i honestly feel it is soy important that we have the public option. a lot of people are struggling and having hard times and they really need help. it is empathetic for people to not have sympathy for the less fortunate. >> host: how long have you been out of work? >> caller: since last year, 2008. >> host: thanks for the call. mississippi, sheila, good morning on the republican line. >> caller: good morning. >> host: go ahead. >> caller: i'm mainly concerned about the people that have lost their jobs and they're having to live off their 401(k) plans. are any of the retirement they received at this time. any time the government in my opinion gets involved, sometimes they're giving things away. and it leads to and when they get their tax return, they will pay extra 10% penalty for having to live on that income. they are lo

. >> reporter: before the credit crisis, condo projects like union row would sell out so fast they wouldn't have a model to show them housing crash meant units were harder to move. now it seems demand is coming back. >> we sold out of the $200,000 units and the $300,000 unit than gave buyers in the higher price points to move forward. >> they are down to 2001 levels but starting to stabilize. the mortgage bankers association representative says good values and government support have provided lift. >> coupleed with low mortgage rate and declining prices and tax benefits have helped to boost demand. >> reporter: he says condo sales are a good of indication where the rest of the marketis gog, though there are challenges ahead. >> we think this will be a long, extended slow, painful recovery and we have not seen the worst of the job market decline yet. >> reporter: the job market will have to hit solid ground before the housing mark makes a full comeback but sellers generally like the view in front of them. mortgage rates are at historic lows. however the mortgage gang okay bankers association

paying out of pocket even before some $1,600 they didn't have in the first place, going to the credit union, trying to get a signature loan -- this is for real. this is what happens in america. this is what happens in florida every day. calling family members, disclosing to third cousins personal medical crisis that they're going through, quite personal in many cases, to be able to ask them, swallow pride and ask them for help when they have been paying $200, $300 out of their pay period for health care insurance. it's not what it's about. so i'm seeing, mr. speaker and members and pleased to see that the debate is now moving toward -- we agreed that something should happen and something will happen. and the leadership has been provided from the executive branch to the legislative leaders saying if they're constructive components that can be placed into this insurance reform legislation, then we definitely would like to hear it. now i, for one, have not and will not and if debate comes to the floor to advocate any canadian-style plan, that's just a public plan. that's not what it's about, e

weave their credit cards, becauswe support them, we ar part of the problem we should be having credit unions and supporting themall banks. >> thas one of the great things patrick does in this book. he articulates so beautifully and simply this 21st century securitization process and lending. in other words when my dad bought our first home he sat face-to-face with a banker and that a banker was a member of the comnity, that banker was involved in sports and charity and things like that, and the 21st century brought w securitization so you had a lender lending money tough lehman brothers to a mortgage broker and lending monei to some bus driver at newport beach living in a $300,000 home that had no income verified on s mortgage application. so we do need to go back to smaller banks and hopefully they will have the sense to break these big banks up. >> thais one of the classics is the ninja mortgage went to people with no job and no assets. [laughter] it's the 400,000-dollar a year bus driver because he didn't have to put his and come down. so occupation, bus driver, income, 0,000. to hundred

he failed to report for instance a congressional federal credit union which is just right down the hallfrom us here, account of at least $250,001. an investment fund account also worth at least $250,001. he originally claimed assets of 516,000 to $1.3 million. now he's revised it to $10 it -- $1.028 million to $2.5 million. once again he failed to report the income on his dominican republic account. he failed to report investments between $29,000 and $81,000 in capital gains dividends in rental income when he previously claimed between $6,000 and $17,000. he failed to report his invest n-certain stocks, at least $1 ,001 of young brands. $15,001 in pepsi could he, and $250,001 in funds of aligns global invest tures consultants diversity portfolio. number three. he failed to report rental income. that's onp top of the multiple allegations we have been talking about. it's time for a member that justice is -- must be swift and justice delayed is justice denied. i ask this -- the leadership of this house to move this process , reconcile these issues of the chairman of the ways and means comm

when i was 18, 19, i took out some student loans, i also took out a personal loan from a credit unionet all those things get away from me because i decided to get into music and do the musician thing and i didn't end up paying for a lot of them. now my credit is not the best of shape and i need to figure out because i have no idea how to get it back on track, with a good credit score. i haven't had any credit cards or anything like that. >> well, first on the student loans, you know you have to bring the student loans current. of the things that you mentioned, student loans are the one thing that will follow you the rest of your life if you don't make amends on those. >> caller: okay. >> so the first step to getting your credit on the right path, you need to go meet with a default counselor. you said your granddad co-signed the car loan? >> yes, sir, the car actually got prepossessed? >> it got prepossessed but you're paying off the balance? >> caller: yes. >> all that stuff is going to take seven years, from not when you turned 18, but from when you stopped paying on all these things

together, or other senior citizen, you can band together to have a large purchasing power or like a credit union would act, people in a geographical area, maybe you live in a rural area, mr. speaker, people could band together and they could purchase as a pool health insurance. they own it, they purchase it as a pool together in a big large group so that they can have better purchasing power, just like if you go to sam's club or costco, they're able to offer cheaper prices because they buy such a large volume of the product. let's let american citizens do that. if it's good enough for sam's club, why can't it be good enough for the average american person? so you band together with whoever you want, buy your own insurance and then, mr. speaker, we let people buy whatever level of coverage they want. maybe they want to buy a policy that is expensive, that has all the bells and whistles on it, or maybe, mr. speaker, they only want a small amount of coverage. maybe they only want hospitalization, so in case something happens to them, they have to go to the hospital for a heart attack or for cancer

. >> reporter: before the credit crisis, condo projects like union row along 14th street northwest wouldell out so fast they wouldn't even have a model to show. the housing crash meant units were a lot hard are to move. now, it seems demand is coming back. >> we sold out of the did the $200,000 # hundred thousand units. >> reporter: home price in the first half of the year had fallen off a cliff. they are still down to 2001 levels but starting to stabilize. >> a couple of low mortgage rates, low and declining home price in some cases and some of tax benefits as well have helped to boost housing demand to some extent. >> reporter: fred antoni says condo sales are generally a good indication of where the rest of the housing market is going. >> we believe this will be a long, extended, slow painful recovery and we've not seen the worst of the job market decline yet. >> reporter: the job market will have to hit solid ground before the housing market can make a full comeback but sellers generally like the view in front of them. >> mortgage rates are still at historic lows but the mortgage ban

america a now what happens is people say oh, well, you can't give a lot of credit for that because latinos just rush to join unionst to join unions they're easy prey and before it was like you can't organize this group. that's what happens when you have successful tactic and strategies. when you go to this 2006 chapter in the book andf i took the dates off you would think you're reang about a 1970 farm worker campaign. same tack. same relationship with religious groups spiritual fast. delores -- person goes on a ten day fast in miami. and it all happens the same blueprint for success. the same blue print for success happened in 2006 as happened in all of these other campaigns. that's why i say if you look at the immigrant rights movement and all of these movements goingn today you can see the relationship that harkinned back to either the personnel or strategies and tactics of the farm sorker movement and i'll just mention the immigrant rights movement. you know those millions that took to the streets in 2006. do youuys think -- the media acted like oh, my goodness some spontaneous outburst. suddenly all of these