even withre examples, fannie and freddie, of what works. ed will be able to do things on the single family side as well. doing a case study as freddie has on multifamily, lower people taking the first risk. building up mortgage insurers is a good sign that things are coming back. i would even think, maybe freddie and fannie -- which they had in the past at one point -- issue rmbs without insurance and see what that price is. why not? it might cost them a little money. they have some money to spare at this point. isjim, your current position at investment prospects, looking -- working with banks across the globe literally. if i could get some free counsel from you now, if i was a large mortgage lender in the u.s., how would you counsel me to read gauge our position myself best for housing finance in the future? at investment prospects, >> everybody has to continue to work with at h a and fannie and freddie. that is the mortgage market right now. -- fha and fannie and freddie. banks are starting to look at the floating rate mortgages, adjusta

why would it be a bad thing to get rid of fannie mae and freddie mac?is issue? let's remind people that a lot of people who are lower income are able to ggt the mortgages. >> exactly. if they were to go way i would be pretty much catastrophic. trying to get private, you know, industry to come in and take their place would be a pretty big undertaking. let's face facts. right here right now, they have some problems in recent past. now they are amazing. record profits. they have got -- pretty much the only source that most candid bought and sold. devastating. >> and let's be clear about this. fannie and freddie are going nowhere. i don't care what anybody says about this. they are going nowhere. the reason is very simple. they are making money like hand over fist. right now you have timothy geithner, ben bernanke and demarco having bernie back. it's making more money than they have ever made. liz: mad at me if he said he is still around because he is happy to is lead these issues. i know what you're saying. these guys are looking, and you say they take mon

no, fannie and freddie stock was for good reasons. and, you know, again, with all that government prefer not being paid off sitting above it amazing to me that there is not much economic value there. even if they don't put them into receivership. obviously if they did there would be absolutely no value there. >> do you regret allowing those shareholders to still exist? one of the concerns right now is because of the run-up in some of those securities you now have a new constituency with a very big economic incentive to influence this debate that you would not necessarily have had, especially with the changes to the pspa where treasury tried to prevent having that economic value at fannie and freddie influencing the debate. >> now, i don't regret not wiping them out. you know, i am not sure that hedge funds would be a very sympathetic audience on the hill, but maybe it will. >> bankamerica. from your currency, given the amount of money is flowing into actual real estate assets, given the amount of money flowing into new corporate forma

that's our housing system and fannie and freddie.rent bill, the corker bill, can be massively improved. the corker bill was kind of floated a couple weeks ago. the first key is do no harm. make sure we do no harm to the existing mortgage market in the united states. in other words, we don't want to create a peeviece of legislatio that increases mortgage rates because it wasn't thought through. we want to max shiz shareholder value. uncle sam owns 80% of fannie and freddie eequity so maximize shareholder value. free market capitalism, protect the capital structure of fannie and freddie, and not only that, companies around the world, especially the united states. >> i'm not sure i agree with you on that last point. losses have been taken, certainly by the common stock owners. i don't think we should bail them out. >> no, no. >> i think we've bailed too many people out too often. what i want to know is, before i go to ron. there is a lot of talk about a reinsurance agency, a reinsurance agency that would stand behind this new entity. no

if you put 5% down fannie and freddie put on their own overload. if you will, their own version of this to further narrow the frame. today if you are delivering 3% or 5% loans to fannie and freddie the resulting picture is much smaller. second of all, the extensive loan level, some of that i know is being mandated, you wind up with a much smaller amount. a match smaller than the fha. it requires the score of 72720. so you really need to look at what it is. in some cases, the originators of themselves the thing i have to remember is someone of the federal reserve who has repeatedly reminded us that borrowers have typically represented a significant segment of first-time home buyers. prior to the economic downturn, this was considered a prime loan. today 680 has become the new 620. and fear litigation results in doing too many low fico loans and then you get in trouble. even if that means 680. between 2007 and 2012, originations with credit scores between 720 and 780 go to 90%. and only 30% are above 780. the median credit score skyrocketed from 730

we're seeing other companies come out with mortgage insurance that beats fannie and freddie.am in the sense you're never getting rid of mortgage insurance now through fannie and freddie. look at other programs. >> your turn, fred. >> there's no private money coming into the market. >> there's tons of private money coming into the market. >> to take over the 95% of what fannie, freddie and fha do. >> so we're going to keep charging taxpayers? >> we're not going to charge taxpayers, we're going to have, i like corker's idea -- >> i like corker's idea. >> we're going to come up with this little bit of fund. >> where does that come from? >> we don't have to. going to come and bond -- it's going to come through bond conduits. nobody's going to buy it directly, nobody's going to say let's put $50 billion together and open a mortgage company. you need a government backstop. it's going to have some kind of insurance fund that's going to make sense and that's the way we're going to go forward with this. >> we're seeing 10% jumbo loans come back. there's so many different loan programs

. >>> until the housing front a y bipartisan group wanting to shut down fannie mae and freddy mark and replace them with another federal resin you arer to back more private money in the event of another housing crisis. republican senator bob porker is one of the sponsors and says there is an ap title to get this done. >> fanny and freddy, the way they were set up with public gains and private losses was not a fair deal for taxpayers. this is a change that keeps liquidity in the market. hopefully, we'll be successful. i do think there is energy here in congress to take this on, and hopefully, we'll do something that certainly moves us away from the status quo. >> bailing out fanny and freddy cost american taxpayers more than $187 billion. >>> also in washington, the senate is a step closer to a final vote on that comprehensive overhaul of the nation's immigration laws after passing a key hurdle monday evening. a bipartisan majority approved a compromise measure that beeves up border security paving the way for final passage that could come as early as wednesday. john mccain who is votin

how to reform fannie mae and freddie mac.ally tackling that issue after kicking the can for years. former fannie mae exec ed pinto will be weighing in on what happens. he will join tracy byrnes and me on the next hour of fox business. stick around. we'll be right back [ male announcer ] the mercedes-benz summer event is here. now t thunmistakable thrill and the incredible rush of the mercedes-benz u' always wanted. ♪ [ tires screech ] but you better getere fast. [ girl ] hey, dad's here. here you go, honey. thank you. [ male announcer ] because a good thi like this won't last forever. mmm. [ male announcer ] see your authoriz dealefor an incredible offe the exhilarating c250 sport sedan. but hurry. offers end soon. folkhave suffered from frequent heartburn bunow, thanks to treating with prilosec otc, we don't have to suffer like they used to. [ell dings ] ♪ [ horswhinnies ] getting heartburn and then treating day after day is a thing of the past. block the acid with prilosec otc, and dot get artburn in the fir place. we've su

coolers, fanny packs, seat cushions. okay.nny pack anyway, i just want to put that on the table. what can you take? not much. a small clear, plastic vinyl or pvc bag. >> what's wrong with fanny packs? >> fanny packs went out in like '87. i'm just saying. a pvc bags that does not exceed 12 by 6 by 12. >>> and the major league baseball has handed down 12 suspensions due to the brawl last week. >> guys i'm wearing a fanny pack right now, you can't see it. all right. guys big time punishments handed down after tuesday night's brawl. looksed like the diamondbacks are hit the hardest. and the guy who hit yasiel puig in the face. eric henke received a five-game suspension. the dodgers rookie yasiel puig received a fine. >>> in yesterday's second round of the u.s. open, one of them phil mickelson, a lefty aplaced second a record five times at the u.s. open is looking for his first ever win at the majors. he had an up and down day on round two. but he finished strong right here. knocking down a 20-foot birdie putt. mickelson tied with

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never underestimate the raft of the shareholders investors and of fannie and freddie are suing you as the government which took control of the mortgage giants in two thousand and eight and exchange for a one hundred eighty billion bailout dollars the treasury got to keep all of quarterly profits go in as well as high dividend payment alleged by the plaintiffs to be serious so this might be the shareholders a last chance to recoup their money now that administration and visuals have talked about winding down the mortgage giants fannie and freddie already returned fifty nine billion dollars to the treasury after opposing high profits last quarter but most of that was due to a change in tax asset classification. and said even so again that's according to a stock analysts who estimates citi group could lose as much as seven billion dollars if the u.s. dollar appreciates against other currencies despite calls for bans on proprietary trading pursuant to dodd frank and that the volcker rule which i have yet to been implemented by the way about half of the bank's profits come from such curren

. >> they are taking the position of fannie and freddie and other old h.u.d.ot what the housing insurance is for. tim pawlenty, government, gse reform, fannie mae and freddie mac, are we going to unhinge them? are we going to unhinge them from the federal government? >> we should. now, these are massive enterprises, and so it needs to be done wisely, and this is a situation where you want to measure twice and cut once, but clearly they are insolvent. we need to move them from what they have been, gses, government-sponsored entities and something closer to and connected to private markets and private enterprise, and there's a series of proposals, some in the house and some in the senate, but our hope is that we'll see gse reform sometime in the next year or two. >> what i gather though and i'm not real liking this, kevin, and i'll going to you on this. there's going to be a government reinsurance fund that will backstop all the fannie and freddie papers. that may work, i don't know what the details are, but color me skeptical, that you'll get private capital, t

fannie and freddie shareholders. just after the government crowded them out and the two thousand and eight bailout and mr peabody went on a limb and to claim investors should dump the city's shares thanks to some stacked a one way bets on the greenback s. and p. revealed its two thousand and eleven call on of all spam fighting monetary credibility which we find and credible and it's emma sullivan of micro ventures that didn't hesitate to speculate on the future of crowdsourcing we just have to get the f.c.c. in tow now and just steam here behind the cloak of fear engulfing the vegs to reach a startling conclusion thank you so much for watching today so i'm perry and boring and this is an interest to have a great night. wealthy british study on the sun. spot on to basically explain the different. markets why not. find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines tune into cars report on our. download the official application here so c

fannie and freddie. so a lot of people would like to see mortgages move to the private sector.the break, it is still 90% of mortgages are issued by fannie and freddie. >> yeah. and so, again, at the time of the crisis, i think the thing we did that was the single most effective thing that got the least attention because we acted before the markets panicked, was to get in, stop failure, stabilize, essentially, stabilize and they were nine times bigger than lehman brothers. it would have been disastrous if they had failed. then they provided words fina e financing which kept housing prices from dropping more in the worst crisis. it never dawned on me -- they were insuring about half, a little less than half the mortgages. now the government more than 90%. and you know, how did we get here? we got here because of flawed government policies, overstimulating housing, fannie and freddie are ground zero. as you said, the key is getting the private sector into this. if the government is setting prices on your mortgages through a subsidy, which you're going to do is you're going to ulti

. >> or bring back the fannie pack.f you wear that, you will not lose anything -- >> well, you are losing the cool points. >> i think that the fannie pack will be back in 2013. >>> you have heard the expression dance like nobody is watching. try dance like nobody is listening. >> wow! this is a way better way to go to the club if everybody had earphones on, they could listen to what they wanted, but everybody at the tables could talk to each other without having to scream. >> this is a new trend called silent disco, and that is what is going on in the videos. people with their own headsets with their own music dancing awa away. >> they are listening to different songs and people were singing with each other, so it sounds like they were listening to the same songs. >> well, different events, it is the same things, and for the most part, they can listen to what they want to, but if you go to the sponsored events, you get a head set with three options, and three different types of music. >> so you are really dancing to a b

of mortgages are issued by fannie and freddie? >> yeah. at the time of the crisis, i think the we did that was the single most effective thing that got the least attention, because we acted before the markets panicked, is to get in, stop failure, stabilize, essentially nationalize those entities, and they were like nine times bigger than lehman brothers. it would have been disastrous if they failed. and then they provided mortgage financing, which kept housing prices from dropping further in a worse crisis. but it never dawned on me that, you know, they were insuring about half, a little bit less than half the mortgages. now the government more than 90%. and how did we get here? we got here because of flawed government policies, overstimulating housing, fannie and freddie are growing zero. as you said, the key is getting the private sector under this. because if the government is setting the prices on your mortgages through a subsidy, what you're going to do is you're going to ultimately get things that it's not market reality, it's not ec

we have some details of the reform bill on fannie mae that will be introduced tomorrow.is expected to have three gop and three democratic co-sponsors, for an unusual bipartisan bill. what we understand, maria, is that the bill will call for a 10% private equity first-loss position on new mortgage-backed securities. that's different from the government having that first loss. in this case, they'll call for private equity. it puts the government in a second-loss position, behind private equity. the bill will require the purchase of a government reinsurance wrap and a reinsurance fund will be created that will be similar to the way that the federal deposit insurance corporation works. the bill calls for fannie mae and freddie mac to be wound down within five years and will include a five to ten-basis point fee for every securitized loan for a market access fund, in essence, to subsidize low-income and rental housing for low and middle-income americans. my understanding is this bill, as i understand it, does not hold out a lot of hope for the holders of what remains of the e

their money now the administration and visuals have talked about winding down the mortgage giants fannie and freddie already returned fifty nine billion dollars to the treasury after opposing high profits last quarter but most of that was due to a change in tax asset classification. and said even so again that's according to a stock analysts who estimates citi group could lose as much as seven billion dollars if the u.s. dollar appreciates against other currencies despite calls for bans on proprietary trading pursuant to dodd frank and the volcker rule which i have yet to been implemented by the way about half of the bank's profits come from such currency speculation and finally standard and poor's is bullish on the ads but no one seems to care at least on the market two years after downgrading as outlook on the u.s. to negative the upgrade to stable was not a market mover nonetheless as m.p.'s cited economic resilience and monetary credibility apparently a batch of bernanke kool-aid has and once again been served at the really big. and here is what's in your prime interest. now with all

the potential for lenders losses in the event of another financial crisis well if it smells like a fanny and it walks like a friday you can fool we're going i always history rhymes to preserve the illusion that this time it's different and here is what's in your prime interest. today we are going to focus on the financial aspects of for a king and look into energy market manipulation but first here ian is going to give us some background on just exactly what is. when it rains the poor. is under delusion of federal regulations the obama administration is considered to be an a class of its own when it comes to publishing economically significant rules in the federal register but interestingly enough there is very little federal regulation around of fracking but before we get into that issue let's break it down ideology fracking is the procedure of creating fractures and rocks in rock formation by injecting fluid into cracks to force them to further open the larger fissures are allow more oil and gas to flow out of the formation and into the well bore from where it can be extracted or simpl

the potential for lenders losses in the event of another financial crisis well if it smells like a fanny and it walks like a friday you can see we're going out.

eighty five billion dollar a month subsidies to the financial industry and speaking of housing and fannie and freddie are on the chopping block of a partisan and group of senators want to wind down the mortgage giants and replace them away as well another mortgage giant is new and busy will be called the federal mortgage insurance corporation and the newly revised proposal would reduce the potential for lenders losses in the event of another financial crisis well if it smells like a fanny and it walks like a friday you consumer going out he's history rhymes to preserve the illusion that this time it's different and here is what's in your prime interest. today we are going to focus on the financial aspects of for a king and look into energy market manipulation but first period is going to give us some background on just exactly what is. when it rains it pours and right now the u.s. is under a delusion of federal regulations the obama administration is considered to be an a class of its own when it comes to publishing economically significant rules in the federal register but interestingly

never underestimate the raft of the shareholders investors and of fannie and freddie are suing you as the government which took control of the mortgage giants in two thousand and eight and exchange for a one hundred eighty billion bailout dollars the treasury got to keep all the quarterly profits go in as well as high dividend payments alleged by the plaintiffs to be you serious so this might be the shareholders a last chance to recoup their money now the administration and visuals have talked about winding down the mortgage giants fannie and freddie already returned a fifty nine billion dollars to the treasury after opposing profits last quarter but most of that was due to a change in tax asset classification. and said he was so again that's according to a stock analysts who estimates citi group could lose as much as seven billion dollars if the u.s. dollar appreciates against other currencies despite calls for bans on proprietary trading pursuant to. the volcker rule which i have yet to been implemented by the way about half of the banks profits come from such currency speculation a

the potential for lenders losses in the event of another financial crisis well even smells like a fanny and it walks like a friday but you can fool we're going i always history rhymes to preserve the illusion that this time it's different and here is what's in your prime interest.

is fannie or freddie going to be privatized? who knows.ie being worthless in conservatorship. >> you in a speculative place? >> we bought the preferreds. you're betting on the full faith and credit bailing out the capital structure. >> i've got to take a quick break. we'll come back with the final trades next. farmers presents: 15 seconds of smart. so you want to save on auto insurance? drive a hybrid. get good grades. lose the bling. go paperless. combine policies. make automatic payments. and of course, talk to farmers. hi ♪ we are farmers bum - pa - dum, bum - bum - bum - bum♪ you know it even after all these years. but your erectile dysfunction - you know,that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if yo

to buy scheme of course is pernicious and ugly because it is a mimic of a scheme in the us by the fannie mae freddie back group to puff up the housing market in the us and that of course spectacularly led to the collapse of the global markets in two thousand and seven two thousand and eight well this oz born ponzi scheme to help the buy scheme have a similar impact in the u.k. economy do you think steve game well i think is what is somebody's going to do first of all is drag people into the market it wouldn't otherwise be able to get in there and what that does is it increases the supply. so i call it and it's not helped the hopes of god still to sell because the people who are on the float their properties suddenly get a whole new bunch of people in there with money in their pockets and the money in the pockets comes from two sources not just from the government handing out money to people and saying his five percent or twenty percent of the is on cases and spend it plays they don't go to the banks and the banks leave that up even more all and if the banks stayed at the sort of money we

you don't have responsible monetary policy accompany it with george osborne replicating fannie mae and freddie mac. with this ponzi scheme here with help to buy or china replicating the entire post world war two american experiment with debt as a form of growth if you don't have bankers in jail or responsible monetary policy you're never putting the same thing but a much bigger scale so here you have let me say something house price appreciation is not growth especially when for every hundred thousand dollars of house price appreciation you're increasing the shadow banking system by million dollars until such point as it collapses and that's what the aliens are saying they're trying to communicate to us but we're not a village of the universe is rife with intelligent life unfortunately the humans of all the various life forms in the in of our viewers with the cognitive abilities were some of the stupidest the stupidest in the universe that's why we didn't want to make friends with us right the stupid kid in class there's a lot of smart and intelligent species around the universe but th

with me now, former fannie mae executive. you and i have talked about this a lot over the years, what gives? this was supposed to be the the transparency administration. now we find thisumber, they sure did not share it with us. why? >> they did not share it because it w embarrassing, not consistent with what they were trying to tell congre. they had some bad news as you recall when they said their economic value was negative to the tune of 15 billion. at the same time running a stress test, the same stress test the federal reserve uses for large banks and when they ran the stress test they found they could have a loss as large as $115 billion i think they decided if we give congress two doses of bad news, that could really cree problems for us. gerri: the reality is we get bad news all the time, but we need to have the information shared with us, i know you agree with me on that. to hide it in that way is to take away our decision-making ability. if you don't know the facts, you cannot decide what to do. it is a poll in woul

radical.ay i'm too i remind them that fannie lou hamer was a radical. i remind them that medgar evers was a radical and martin luther king was a radical. >> we will speak with chokwe lumumba here on democracy now! from jackson, mississippi. all of that and more coming up. this is democracy now!, democracynow.org, the war and peace report. i'm amy goodman. a newly disclosed court order shows the telecom giant verizon is handing over the telephone records of millions of subscribers to the u.s. government without individual warrants. the guardian of london reports the fbi obtained a three and half -- three months surveillance mandate from the foreign intelligence surveillance court in april. it compels verizon to provide the national security agency with the metadata of all of its subscribers' phone calls, who they spoke to, where and what time the made the call, and for how long. in a statement, the aclu to announce the program as "beyond orwellian, "adding -- will have more on the story after the headlines. a u.s. soldier accused of massacring 16 afghan

never underestimate the wrath of a shareholder scorned investors and of fannie and freddie are suing you as the government which took control of the mortgage giants in two thousand and eight and exchange for a one hundred eighty billion bailout dollars the treasury got to keep all quarterly profits go in forward as well as high dividend payments alleged by the plaintiffs to be serious so this might be the shareholders a last chance to recoup their money now that administration and visuals have talked about winding down the mortgage giants fannie and freddie already returned fifty nine billion dollars to the treasury after opposing.

buenas noches. ...una ultima pausa...pero al regreso fanny gutierrez nos presenta la otra cara de laactor que le da vida a uno de los personajes comicos, mas famosos y queridos de el salvador: "la tenchis celiber" "en televisión nació jugando..." con el tiempo recibió el nombre de "la tenchis" y de allí han pasado casi 25 años "ahora yo creo que allí fue decisión del público" y aunque no lo parezca el actor detrás de la pícara tenchis, julio hernández, se considera una persona tímida... "soy una persona introvertida, me da pena hablar en público..." cosas, que incluyen ayuda a la comunidad... y vivir tantos años con "la tenchis" le ha dejado un valioso aprendizaje... "el aprendizaje de tener disciplina ante todo..." julio ha llevado su vida personal de manera muy reservada y feliz... celeste. >>> hasta maÑana. gracias. ♪ ♪ >>> estos son los titularestitulares: titulares: frenetica bÚsqueda de un infante de marina secuestrado en mÉxico. menores de edad arrestados por redadas de inmigraciÓn fueron detenidos en prisiones para adultos. y crearÍan la primera pildora masculina. y la disfun

y al regresar fanny gutierrez nos presenta un resumen de la celebracion del dia del pade en six flagsgs america... con gran alegria univision washington celebro el dia del padre en six flags america... el evento comenzo con la inagotable energia del danzatone, seguido de la dulzura de paula maria, acompanada del mariachi aguila... el grupo algodon puso a bailar a todo el publico presente... y andy andy deleito con el romanticismo de su bachata...ta agradable visita de johnny lozada, parte el elenco de despierta america... y la bella marisela demontecristo nuestra belleza latina 2013 fue recibida con gran carino por todos sus admiradores el equipo de trabaja de noticias washington tuvo una participacion especial... y cerro con broche de oro "india" un feliz encuentro posible gracias a la asistencia de nuestros televidentes... univision washington le invita a ganar un par de boletos vip para disfrutar del festival latino que se celebrara este fin de semana en patterson park en baltimore... participe enviando la palabra "eblo" al numero 90900... las entradas vip incluyen saludar personal

buenas noches. ...una ultima pausa...pero al regreso fanny gutierrez nos presenta la otra cara de la que le da vida a uno de los personajes comicos, mas famosos y queridos de el salvador: "la tenchis celiber" "en televisión nació jugando..." con el tiempo recibió el nombre de "la tenchis" y de allí han pasado casi 25 años "ahora yo creo que allí fue decisión del público" y aunque no lo parezca el actor detrás de la pícara tenchis, julio hernández, se considera una persona tímida... "soy una persona introvertida, me da pena hablar en público..." cosas, que incluyen ayuda a la comunidad... y vivir tantos años con "la tenchis" le ha dejado un valioso aprendizaje... "el aprendizaje de tener disciplina ante todo..." julio ha llevado su vida personal de manera muy reservada y feliz... jamaica, reanuda su paso a brasil 2014. >>> eso. >>> en la pelota caliente un nuevo problema para 20 beisbolistas de mayores, entre ellos alex rodrÍguez. >>> sofÍa vergara develÓ su estatua de cera, le traemos los momentos mÁs divertidos. >>> amigos de chicago, alan tacher sale a regalar dinero, pero a cambio

fanny gutierrez con lo mas reciente. 2013,con vientos máximos sostenidos de 100 kilómetros por hora, tocó tierra hoy en la costa oeste de florida, en la zona de big bend,d, y estas son algunas de las imagenes de los aguaceros que estan afectando el area metropolitana, el pronostico es que estas precipitaciones se prolongen hasta maÑana viernes en horas de la noche y luego disminuye la probabilidad de lluvias... mas informacion sobre las condiciones del tiempo en nuestra area mas adelante...,,.s la tormenta tropical andrea toco tierra en el estado de la florida. el gobernador rick scott, seÑalÓ que ya se han registrado tornados y que esta tormenta debe ser un "recordatorio de que es necesario estar preparados cuando arranca la temporada de huracanes". un total de 25 parques naturales del estado permanecen cerrados al pu Úblico y han sido evacuados, al tiempo que se registran retrasos y numerosas cancelaciones de eventos. ...tornados se registraron tambien durante el dia. es natalie perez desde tampla florida quien nos tie

fannie and freddie, traders favorites right now. >> this is like crack or it's like the product thonking bad." these people have been trading these things like ban chis. this one is worth zero. >> zero. >> zero. >> saying fannie and freddie are worth zero. >> they're saying, listen, we've done more work, everything -- this has been, what, four -- look at this. there you go. another one. we don't have a telestrator here. >> you have 300%, 400% swings on the stocks in a week. >> like raindrops you know? i think that raindrop's going to beat this raindrop. be careful. i think he dut quality work. if worth zero they shouldn't be at 1.86. >> when you can throw in a crack reference talking about a fannie, it's perfect. it's a plumber's -- >> that's awful. holy cow. where's my -- where's my -- >> you know who done make jokes like that? >> you. >> carl. more sophisticated. >> you're the only one that makes jomake s jokes like that. >> all right. after friday's rally what kind of ride will the markets give us today? we are going to kick off a new trading week. more bad puns and jokes. everybo

is there any really any time is to be wearing a fanny pack anyway? a.m., i'm sorry. but we have a lot of top stories to talk about. you are probably boiling this morning already. it is going to get hotter. the heat will ramp up so much so that we could be way above 100 and the next six days. louis back with more team coverage in just a couple of minutes. whatwh makes your family smile? backflipfls and cartwheels. love, wa, rmth. here, retry this. mmmm, ok! ching!g! i likeli the fact that there's lotslo of different tastes going on. mmmm!! breakfaskft i'm vem ry impressed. this is ia great cereal! honey buy nches of oats. i hei ar you crunching. bulldog: bulldog: oh, the dog days of summer! time to celebrate with your mates, grill a few dogs... eh, hot dogs. bacon burgers... dashchund: mattress discounters' 4th of july sale ends soon? bulldog: that cloud reminds me... radio: the tempur-pedic cloud collection-- bulldog: that's it! radio: now with 48 months interest-free financing-- basset hound: free financing? radio: or get a queen-size sealy gel memo

. ♪ [music break] >> a tribute to fannie lou hamer. this is democracy now!mocracynow.org, the war and peace report. i'm amy goodman with juan gonzalez. in the last segment today, we end in mississippi. let's but the merchants down on capitol street build economic paths. let me say this to you. i had one merchant to t you to w that i talk to my national office today and they want me to tell you that we don't need nigger business. these are stores that helped to support the white citizens council, the council that is dedicated to keeping you and i second-class citizens. finally, letting sentiment, we will be demonstrating here until freedom comes to negro's here in jackson, mississippi. >> those are the words of the civil rights peter medgar evers in may 1963. just a few weeks later on june 13, 1963, he was shot dead by a klansman in his driveway in jackson, mississippi. medgar evers was the state's first naacp's field secretary and killed just hours after president john f. kennedy delivered a nationally televised speech in which he proposed the civil rights a

first the fha pulling back, a lot of talk about fannie mae and freddie mac and whether the government is going to restrict them or phase them out. in that latter case, isn't that radian's gigantic opportunity? >> under certain scenarios there has been this corker proposal on the news. and that's a great scenario for us. basically, what that means is that the government wants to guarantee a catastrophic level from an entity which will be a successor to fannie and freddie, will play a utility type role and the government will guarantee catastrophic risk, leaving more room for private capital players like us, and very specifically, the mortgage insurance players will have more room to play and a larger market to play in. >> okay, now, if you took a look at your book of business say next year at this time, how much of it would be -- let's just call it the bad stuff, and what percentage would be the good stuff? >> we are already down to 50/50. and at the rate at which we are writing, not only are we the largest mortgage insurance player in terms of market share today, but if these trends p

fannie and freddie, you own either of those? we've seen big hedge fund guys get involved in those, particularly speculative plays. >> i'm not involved in that simply because i'm not a speculator at all. we have a culture of cowardess, we only like things we feel we can analyze into the ground. i know there's a case for some of that junior stuff with fannie mae but i don't play around in stuff that has that sort of speculative nature to it. >> we mentioned your appearing here exclusively ahead of your web cast later this afternoon. it is 4:15 eastern time, we're putting it up on the screen right now. we want to tell folks, you have the double line floating rate fund which is now going to be open to the public and that's new. >> we're going to start what -- we've been using that as diversified funds for month. it's been doing well. there's no interest rate risk basically, which is an interesting thing given how people feel -- some people feel about interest rates. mostly bank debt which is one of my favorite asset classes. and we

. >> fanny. >> do you know where the word trolop comes from? >> i have no idea but she was his mom and was -- when she got left by her husband and she lost a lot of money so she went to america to reinvent herself to make a fortune so she landed in the plantations in the deep south. and she was appalled by the south and she wrote this book. >> of the domestic manners believes committed as a travel book and it's a very suited account of traveling through the south. it's good fun actually but it's pretty in perfect. >> we have time for one more mengin and this would be germane greer the female eunuch 1970. >> in the english world, not the american world, she is the first feminist, the first and the most eloquent and they went around the commonwealth on the colossal scale. it was a kind of cry from a movie and painful but it was a cry of let us be freed and the intensity did and liberated, let us see ourselves and equal and it stands up a very well actually. >> we invited her for this and unfortunately we were not able to get -- >> if you can get