director and the post was nomination and contacts and confirmed he will take the helm from edward demarco the interim director since two thousand and nine. thousand courage to many groups to demand his removal because he has resisted efforts to help lower mortgage principal payments for bar workers and response demarco has cited his responsibility to return as much money as possible to the taxpayers for the bailout of fannie and freddie he eventually became so controversial that top white house officials made a promise during last year's presidential campaign to oust de marco and to make good on that promise obama has now announced. as his nominee so who is mel watt what was first elected. the house of representatives into one thousand nine hundred ninety two he has spent the past twenty years on the financial services committee mel watt was one of the central figures that constructed the dodd frank financial reform law what is his cozy relationship with tara let's bangs his top campaign contributors that raise concerns of his objectivity mel watt received a million dollars from political

he would replace edward demarco. president bush had appointed him.eserve open market committee h be meeting today. most expect the fed to keep the main rate where it is. coming up an 12 before the hour and reaction continues to pour in on the fda's decision to here the age on the morning after pill. girls as young as 15 will be able to buy plan b without a prescription. >> i think it is very smart. 15 year olds are having sex. >> i don't think it is a good idea. i think in today's society there is so much free will to just do whatever you like when ever. >> a judge ordered the government to lift all age restrictions on plan b earlier this month. >> yahoo!'s ceo is reaching out to new mothers. they h receive 16 weeks of paid leave and new parents get $500 to buy groceries and baby clothes. she was criticized for banning tell commuting earlier this year. we learned how much money she made during her first five and a half months with the company. >> it is nice work if you can get it. she has cashed in on her short time at the company. she received $36 m

to lead the federal housing finance agency the representative from north carolina would replace ed demarco who has been criticized by democrats for resisting measures to help homebuyers at the expense of taxpayers watch will likely see the demarco didn't know much as the mortgage giants are being wound down now and get to what's in your prime minister. in two thousand and eight during the worst financial crisis since the great depression then french president and u.k. prime minister called for a new bretton woods an overhaul of the global financial system they evoke to the memory of the one nine hundred forty four conference here representatives from forty four nations tracks to new hampshire to design a new monetary system for the post war two era. for the label of the world. all agreements must be ratified by the governing bodies of the nation with more becoming a back. why was it so important to establish stabilization of the world's currency as well for one the memories of world war one still lingered specifically the unintended consequences of the peace treaty that the treaty contribu

i demarco of fannie and freddie made headlines back in september of two thousand and eleven when he got the f h f a. sue a seventeen banks and broker. transgression that they were bilking the taxpayer while they recently settled with citi group but they've declined to tell a federal judge much less to taxpayers how much the settlement is worth or any other details for that matter bloomberg inquired as to why it was told that the f h f a might never disclose the tar well i guess we'll have to see if mel watt bring some transparency to the agency when demarco leaves but we're really not holding our breaths.

demarco and fannie and freddie made headlines back in september of two thousand and eleven when he got the f h f a to do a seventeen banks and broker. transgression they were bilking the taxpayer well they recently settled with citi group but they've declined to tell a federal judge much less to taxpayers how much the settlement is worth or any other details for that matter bloomberg inquired as to why it was told that the f.a.a. f.a.a. might never disclose what's her well i guess we'll have to see if mel watts bring some transparency to that agency when demarco leaves but we're really not holding our breath on that and the jobless rates in seventeen countries that use the euro rose to an all time high twelve point two percent but price inflation still remains low guess what that green lights you have some more european central bank bond buying aka money printing but protesters in germany aren't having it at least not as they are the measures that's because up to three thousand members of the walk you movement descended on to the brain for it's a financial district to disrupt business

lauren demarco will depo on the fox 5 budget.d we are across the bridge and is live on ken island. >> reporter: good morning,r: m they have been saying aaa mid-atlantic that 3.12 million l americans will be hitting the roads. plenty of them will be doingl bn that here in the area. area. right now not too many folks crossing the bridge but right now would be the time to do it, because we have the nice, lightt traffic. right now the national average for a gallon of gas is $3.66 that is just two higher tg than this time of last year even though we have seen the gas prices creeping up.ing right now it's stable in regardd to last year.to the number of travelers aboutle the same as last year. ye if you're headed to the beach last year, you know what you're expecting today.ting a big day in ocean city. the city trying to get the point out there that they are pack in business. things have been rebuilt since hurricane sanity.hurr any the damage done there, later today, mayor is going to have a news conference and he is goingg to cast, and

to lead the federal housing finance agency the representative from north carolina would replace ed demarco who has been criticized by democrats for resisting measures to help homebuyers and the expense of taxpayers watch will likely feed were the market didn't know much as the mortgage giants are being wound down now and get to what's in your prime minister. in two thousand and eight during the worst financial crisis since the great depression then french president and u.k. prime minister called for a new bretton woods an overhaul of the global financial system they have bowed to the memory of the one nine hundred forty four conference here representatives from forty four nations tracked to new hampshire to design a new monetary system for the post war two era.

to lead the federal housing finance agency the representative from north carolina would replace ed demarco who has been criticized by democrats for resisting measures to help homebuyers at the expense of taxpayers watch will likely feed were the market didn't know much as the mortgage giants are being wound down now and get to what the new your prime minister. in two thousand and eight during the worst financial crisis since the great depression then french president and u.k. prime minister called for a new bretton woods an overhaul of the global financial system they evoke to the memory of the one nine hundred forty four conference here representatives from forty four nations treks to new hampshire to design a new monetary system for the post war two era. just for the label of a term of world. all agreements must be ratified by the governing bodies of the nations on the border coming up back. why was it so important to establish stabilization of the world's currencies well for one the memories of world war one still lingered specifically the unintended quinces of the peace treaty that the

leave the federal housing finance agency the representative from north carolina would replace ed demarco who has been criticized by democrats for resisting measures to help homebuyers at the expense of taxpayers watch will likely feed were the market didn't know much as the mortgage giants are being wound down now and get to what the new your prime minister. in two thousand and eight during the worst financial crisis since the great depression then french president and u.k. prime minister called for a new bretton woods an overhaul of the global financial system they evoke to the memory of the one nine hundred forty four conference here representatives from forty four nations tracks to new hampshire to design a new monetary system for the post war two era. for the label a break from the world. all agreements must be ratified by the governing bodies of the nations and bar before becoming a back. why was it so important to establish stabilization of the world's currency as well for one the memories of world war one still lingered specifically the unintended consequences of the peace treaty

to lead the federal housing finance agency the representative from north carolina would replace ed demarco who has been criticized by democrats for resisting measures to help homebuyers and the expense of taxpayers watch will likely feed were the marker didn't know much of the mortgage giants are being wound down now and get to what's been your prime minister .

lauren demarco is doing traveling herself. she's across the bay bridge live on kent island.and it looks better now or no? >> i think it's moving past us. it's a little bit windy but thee skies are a little bit clearer heading toward us. goodad news. n driving across the bay bij right now. steady -- bridge right now. steady stream of traffic. you mentions the number 8 75,000 washingtonians expected to head out of town for memorial day. well, more than 360,000 of them are expected to head across thee bay bridge.bay so right now on the phone we've got mayor of ocean city. good morning to you, sir.o y >> good morning. one is hurricane sandy and the damage to the beaches in new i jersey aaa did a survey saying it was 8% of people from newm jersey that good to the beaches there are considering heading ha down to ocean city. are you expecting to see a strong busy summer? >> we are. >> we welcome the new jersey visitors we spend a lot of time advertising and promoting the area, so we have customers and people in that area. we welcome

lauren demarco joins us. >> reporter: the college parkhe metro station is closed for the weekend and while the schedule h has been out for months, university officials say they te found out about it within the past week. schools action committee call on metro to cancel plans during event but the track work went on as scheduled fortunately, word r got around and most people were prepared. >> make iewrg ways to the ceremony is worth it. you now have a set of skills s which will make you marketable. >> reporter: baltimore or yell l legend cal rip kin jr. delivering the commencement address. he mentioned making iewrg ways to the ceremony and for some, that was literally a concern ono this day. several metro stations along the green line, including college park, shut down for weekend track work.trac >> it's really a shame.me. i guess they z to do what they have to do. but it's ashame, at lease for fr this station. >> reporter: maryland student alex steck had trouble seeinging his mother. >> reporter: but most visitorsos knew in advance to plan for extra time. >> well, i had to transfer fr

. >> millions of tickets for a chance of over the 600 million-dollar jackpot.kpo lauren demarco is live

guest: ed demarco. he's been acting director for about four years, since 2009.have a new nomination now with representative mel watt, which caused a stir on capitol hill and in the industry. host: why is that? here's a piece that you wrote -- guest: to understand this, you have to know a little bit about the background between -- the tension between ed demarco and the white house. when house really wanted freddie and fannie to do principal reduction to help struggling homeowners who were underwater on their mortgage. ed demarco refused to allow these companies to reduce the principal on mortgage loans, saying it would be too costly for taxpayers. watt, who has advocated and supported the principle forgiveness for struggling homeowners, now on the same page on this issue as the administration, and the reason why some republicans are very dismayed by it. host: does he need to be confirmed by the senate? what are the prospects for his nomination? 50-50.some say it's a i'm actually more positive than he will be confirmed. the reason is our housing market has changed

. >>> that was fox 5 lauren demarco reporting.demao re >>> a much anticipated movie hits theaters thisthey talk about movie about iron man 3, and kevin mccarthy hass an interesting question of whatq it uetakes to water suit. suit >>> a reminder, you still have chance to win a two year lease s on this 2013 acura. all you have to do is depo to go my fox dc facebook page and like it. you can enter anytime from now until may third n order to enter and win, like my fox dc facebook. you will receive a two year ye 20,000-mile lease on an acura ilx. you must be 20 or older to to enter. you can see the complete rules at my fox dc, facebook page. back after this. ♪ [ male announcer ] fight stains with the touch of a button and get extra cleaning power with exclusive steam assist in ge's most advanced wash system ever. ♪ visit bray & scarff and pay no interest for 18 months and save $100 on select ge washers and dryers. hurry in for this limited time offer. is more fun than ever. sees better than ever. ♪ charges faster. and will charge. cool. and heat. from your phone. fact: leaf never needs gas.

. >>> fox 5's lauren demarco hasrh started her trip out of town, but, of course she is still at t workhe is going to have to takee another one, because she has too do this live report at kent island. she has a closer look at the holiday travel. >> reporter: how i scored this story out here in the water, it's beautiful. a lot of feces headed over the h bay bridge and it's expected to be busy because we have the commencement ceremonies. if you are expected to depo outo out, head out early.earl. the national average $3.62, that is two higher than last year. take a look at hole number locan the district. $3.70.$3.70. in virginia $3.40. i want to talk about the planese if you are traveling in the skies, planes, trains and busesd when you add those numbers and everyone that is expected on the road, the amount of folksfolks traveling for the memorial dayiy weekend dropped 1% from last oml year. if you traveled last year, youao should have a pretty good sense of what to expect over the summer. 208 million people expected topp fly.ec that is up 1% from last year. 87% of seats will be filled.. n

demarco, restored these to fiscal health producing money, paying back what they owe -- they owe a lott paying back what they oh. mr. watt would be a back to the future thing wre you go back to these entities as agents for social change, agents for helping people who otherwise couldn't get loans, to get loans, and mr. watt, who has been a long proponent of that face serious, serious flak when he gets to the senate, not just from republicans, but some fiscally sound democrats interested in spinning them off the books than deepening the relationship. gerri: interesting to see if that happens, spin it off the books. i don't know about that. chris, thanks, always a pleasure to see you. thanks so much. >> any time, happy to help. gerri: thank you, later in the show, taxpayers pushes tesla into the black, no kidding, i know you're shocked. not getting the credit. how do you do that? how yoursmart phone may replace your doctor. stay with us. ♪ ♪ ♪ the capital one cash rewards card gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone but her... no. no! no. ...likes 50

so we've got ed demarco, who's been the acting director of the fhfa, the federal housing and financeadministration, who has refused to even consider looking at principle reduction or the funding of the national housing trust fund as a solution. and the win has been obama announced last week that he's going to replace this man. >> bill moyers: you've been fighting to get him out. >> rachel laforest: for years. we've been fighting four plus years. some of our groups knew that this was a problem and were targeting him from five or six years ago. and it really started to develop as the foreclosure crisis hit the forefront of the headlines, that it pulled in new local and national entities into this fight. and now this man is going to be replaced. and we are in the mix of discussing the kind of person that needs to be running the federal housing and finance administration. and it took years. and lots of hard organizing on the ground. >> bill moyers: what kept you going? >> rachel laforest: people's stories. people's joys and inspiration around small victories that happen on the ground. so

it's had an acting director named ed demarco. to some he's a hero.thing at all to conquer fannie, freddie, at least with regard to housing. we won't talk about college and financing college education. but the issue is pretty simple. we got into a mess trying to promote housing in ways via the government and policy that didn't turn out well. ed demarco tried to fight off what he believed were solutions and quick fixes, the type that gives you jobs and gdp that jump up every once in a while since the credit crisis, but aren't sustainable. the only thing sustainable is the debt or the balance sheet used to create what doesn't last. but anything, a long-time democrat and not that there's anything wrong with that, but he is more attuned to trying to get homeowner ship higher for people on low thresholds. is it a good idea? zero heads did a big piece on that and got into all the different lobbying and people that have sponsored his various runs in congress. you can go there. that's not my cup of tea. draw your own conclusion. another issue, commodities. ev

lauren demarco joins us live from kent island in maryland.auren, good morning, how is itt looking. can't complain too much, because it's a beautiful morning out here.ing we are seeing a little bit of a sprinkle, but it's nice to be ne out on the water.e a lost folks looking to take advantage heading toward the het shore, traveling eastbound route 50, expect plenty of traffic along with the commencementcommn ceremonies at the naval academyc going to be quite of packed there. i got lawn anderson with aaa. >> can you believe memorial day already? >> reporter: no i do not believe it. it. it depose so fast but i'mi'm excited for the summer. >> that's right, a lost lost washingtonians are, too.s are, . we are checking in 875,0005,000 heading out of town this this weekend. a lot of company, no matter ma where you're going, and the bayy bridge, folks tell us they're expecting over 360,000 peopleope using, that will be using the bridge this weekend.week so obviously, ocean city, and d houstoeastern shore, huge destit for washingtonians. >> oceanty is

ed demarco's out. it has to be approved by the senate.ikely he'll be pushing housing again in the same ways we did in the early '90s, potentially trying to make two and three speeds, different requirements for different subsets with government guarantees. no surprise. as long as we keep going down the roads of socialistic policies where the government is orchestrating and conducting, forget about it, it isn't going to work. >> steve, i know it's early, but when people, economists look at these adp numbers, do they end up taking their numbers down? >> where are we? >> in general, we were at 148, which was actually down a little bit from before the adp number. i know joe yesterday put out a report lowering his forecast. i wouldn't be surprised if the numbers were brought down. >> from adp? >> yeah, it's not a one for one. i don't know if we have the chart, guys, but adp has done a better job. if you look at the adp versus -- and i compare it to the bls private sector and you can see that yellow line and really that starts -- >> zandi took o