>> yeah. >> fannie, no one has done more for that system than fannie and freddie.look, i don't have any stock this fannie and freddie, you know? i don't work for fannie and freddie. i'm not a consultant for fannie and freddie, but i can read history. i can see what they've done over the years. and they're at least a third of the americans today directly contribute fact that they have a mortgage to something that was securitized by fannie and freddie. and probably if you go back, again, to generations before that, it's probably most americans, the majority of americans have some connection to the fact that we have these government-sponsored enterprises. yes, they make money. god, when did that become a bad thing for these republicans, you know? [laughter] it's amazing. but, you know, that's what we're messing with. we're messing with what was at one time the healthiest, strongest home mortgage finance market in the country. we're about to take it. now, where are we going to take this business and put it? we're going to put it into the institutions that led us into t

no one has done more for the system and fannie and freddie -- a work for fannie and freddie. i am not a consultant. but i can read history and see what they have done. at least one-third of americans today directly contribute the fact that they have a mortgage. probably she go back to generations before that two of most americans have some connection to the fact that we have these government sponsored enterprises. yes, they make money. when did that become a bad thing? in no, it is amazing. but, you know, that is why we're messing with. we're messing with low was at one time the healthiest to mistrust home mortgage finance market in the country. we are about to take it. where are we going to take this and put it? regard to put it into the institutions that led us into the sub prime of this that fannie followed into. >> and drop. >> please. >> going back to his question, i think i am an optimist. so take this with a grain of salt, but i do think the bill, if it is introduced, will fix many of the flaws. i think they're taking very seriously the mission of looking in bringing p

they don't trust anybody other than fannie and freddie because fannie and freddie have the best of the government behind them. that's why they are the business. that's what i keep seeing dodd-frank was the best thing because it's a message to the private investors it's safe to come back to the water. the rating agencies will not be able to give aaa ratings to 85% of the high cost loans that were made at the beginning of 2000 and on. fannie and freddie they are simply, they are still to be trusted. what's ironic is what's being proposed and never on the table seems to be keep fannie and freddie. what is being proposed is get rid of them. and now we'll go from an implied guarantee that we had for fannie and freddie and given an explicit guarantee to the private lender that the private investors still don't trust, but we're going to give an explicit guarantee and anybody who doesn't fit into the box will go to fha which is now 100% taxpayer guarantee for those loans. why are we reinventing the system to essentially make it harder for average working working-class americans to be able to g

>> fannie and freddie have been around for quite sometime, fannie dating back to the new deal.ddie coming about in 1970. , ople who have built a system careers based upon government guarantees or loans to give them up. so the lobbying has been quite strong. and if you believe that ultimately to have a sustainable system of home ownership to end the system of boom, bust and bailout, that we need to transition to a competitive marketplace. you have to have your voice be heard. i have been a member of the house financial services committee for 11 years and i would say those who have attempted to protect fannie and freddie and the status quo have presented the strongest lobbying that i have seen in the jurisdiction of that committee and they aren't letting up. a vacuum. abhors politics abhors a vacuum. exercise your constitutional right to have your grievances redressed and let your voices be heard, but need to be heard soon. i'm fearful, the wind, the opportunity to address this at least in this congress may begin to fade. i need not tell you, it is challenging to get anything don

this includes fha, fannie, freddie, so it's a broader mix but having said that, fannie and freddie toheir profits is largely an illusion. these are not like private companies with capital operating in a marketplace and prices are being set by the market place. they have no capital. they are backed by the government. they have been given the an effective monopoly on the non-fha loans. they do 9%, 85% of all the non-fha loans in the country and so, to say they're making money, relative to what? and so the taxpayer is still on the hook for the risk. most people don't realize this. but they're backing, the taxpayers are still backing fannie and freddie in terms of their capital to the tune of $250 billion. liz: ed, we just showed both fannie mae and freddie mac stock. both people can buy stock. we are a business network. we can sit here and judge gses until the end of time but bill ackman a billionaire hedge fund guy, believes in his heart that fannie mae could be worth 10 types what it is now. he is talking common shares in just a couple of years. he's a smart guy. should people be buyin

treasury's coffers and what is next for fannie and freddie. john this was not a surprise, i suppose, but i guess a welcome sign post. >> reporter: uncle sam is loving it right now. they're getting big fat checks from these entities that they took over a few years ago that sucked a whole lot of money out of the treasury. and now as some one-time events are materializing, especially as they return to profitability has caused fannie and freddie to ramp up the value of some tax benefits that they had before that they had not counted on repaying. they've also gotten some settlements with other counter parties in the financial system. this is beneficial to the treasury right now but still a debate in front of us on what to do with the agencies long term. the administration says just because times are good doesn't mean we shouldn't figure out a different and restructured role for the government in the housing market. >> what is like will i -- like to happen? will the -- >> it's going to be changed. the question is when can we overcome the very large

take a load for free take a load off fanny and you put the load right on me ♪ ♪ i picked up my bag i ♪ ♪ take a load off fanny take a load for free take a load off fanny and you put the load right on me ♪ ♪ go down miss moses ♪ there's nothing that you can say ♪ ♪ it's just old luke and luke's waiting on judgment day ♪ ♪ well luke my friend what about young anna lee-he-he ♪ ♪ he said do me a favor son won't ya stay and keep anna lee company ♪ ♪ take a load off fanny take a load for free take a load off fanny and you put the load right on me ♪ ♪ ♪ catch a cannon ball now take me on down the line my bag is sinkin' low and i do believe it's time ♪ ♪ to get back to miss piggy you know she's the only one who sends me here with her regards for everyone ♪ ♪ take a load off fanny take a load for free take a load off fanny and you put the load right on me ♪ ♪ on me [ cheers and applause ] >> yeah, man! [ cheers and applause ] >> hows it going? [ cheers and applause ] [ footsteps ] [ cheers and applause ] ♪ ♪ >>> it begins on the edge of the western world. and expands deep into the far east. n

the state of fannie mae hanging in the balance. government needs to give control back to shareholders so you can still get a mortgage. charlie gasparino talks exclusively with dick bove about his bold call for the mortgage-backed coming that next. adam: from the mit labs, the finger reader creators are here, changing the face or hands of reading in the future. q beyonce. i ys say be thman with the plan but with less ergy, moodiness, i had to do something. i saw mdoctor. a blood test showed it was low testostene, not age. we talked about axiron the onlyt tt can reore t vels to normal in about two weeks in most men axiron is not for use in women or anyone younger than 18 oren with prostate or breast cancer. women, especlly those who are or who may become pregnant, and children should avoidt of puberty in chilen ored changes in body hair or incased acne in women may occ. report these symptoms your doctor. tell your doctorbout all medical conditions and medications. serious side effects could include increased sk of prostate cancer, wo

over cash flow of fannie and freddie.vestment community believes they are not entitled to it. the reason this is important to the investment unity is because there are common shares and preferred shares to trade. and none of that cash flow is in a sitting -- is benefiting the shareholders because the government is taking it all. >> brad is a former lobbyist, a former hill staffer, a former hedge fund advisor that now works for bloomberg. that youbruce right, cannot touch housing finance? >> he is correct that this is one of the biggest issues in washington right now. can it be touched? congress will touch it. ofy have two pieces legislation, one in the house and when the senate, and the senate banking committee is going to release a third bill sometime in march is likely. the hedge fund you described will be watching to see if any of the grievances will be discussed in that legislation. but what can and should be done? -- >> what can and should be done? >> e-government -- what should be done is the government should put a

that is a way multifamily works in fannie mae and freddie mac. the delinquency rates were so low because you have so much private first loss from. literally by definition there will be doing -- achieving the affordable housing goals because of the nature of the stock. >> i think that is an interesting point. i think the real message here is that it should not be a bad word to say that we want to promote affordable housing or to say that the government is not in the business of housing but in the business of affordable and housing and it does segue into providing assistance. think when you talk about the secondary market the government guarantee, it should not be a bad word to say that we are giving you this government guarantee because we believe that you should engage in providing affordable housing. so when we talk about the multifamily portfolio versus single family, either way putting in affordability requirement there, saying we're doing it because we believe that is what the market should do, it makes sense. and i think we're also reall

fannie and freddie is making a lot of money.nt has a plan to basically squeak, take all the money, from the shareholders. take over fannie and freddy, the obama administration. shareholders are suing. he thinks there is good chance shareholders win this lawsuit. he says that the stock goes from 4 to 18. both fannie and freddie. interesting scenario. cheryl: today. >> today earnings were strong. if you believe that these things will be private, remain as they're sort of private companies, they're gses, they're in limbo. i wonder how that will work out. do we back them up? adam: how will that exist, that owasi guaranty. >> that is opening up a whole another can of worms but dick is betting, by the way, big al manage and others hedge fund guys are betting this remains in quasi-setting with shareholders and stock triples. cheryl: net income $8.6 billion in the last quarter. dick bove. >> it was good call. public policy ramifications is for another story, whether this is good thing for all of us. adam: your story in the post today ab

that replaces a juggernaut like fannie and freddie -- replaces a juggernaut like fannie and freddie?capital requirements on banks suppress their natural appetite passionately > - -- some andrked for john wells fargo. who takes over for fannie and freddie? >> one of the things that affect capital of the countries that disproportionately it affects banks versus nonbanks. wells fargo is in the process right now of trying to supposedly offload some servers into an on-deck circle is in company. a big issue regulation. >> i was talking to adam earlier about this. don't come back until you fix i had in real estate. it is insane. >> we can't afford it. >> it is insane. we will be back with more. "bloomberg surveillance." ♪ >> this is "bloomberg surveillance." i am scarlet fu, here with tom keene and adam johnson. let's give you company news, starting with societe generale. 400french bank is posting $89 million in fourth-quarter profit, almost double what analysts had been looking for. the consumer banking business was strong last quarter, with earnings climbing 11%. heineken said that sales

when it comes to fannie mae, not quite sure.ht now, fanny has to fork over all its profits to uncle sam. bill ackman and bruce berkowitz are making a bit -- bet that that will soon change. will shareholders get their hands on the profits? we are joined by a banking analyst. josh, brick it down here. bill ackman and bruce berkowitz thinking here that at some point the money will get return to shareholders and they're going to get out from under the government's thumb. >> at some point we have to recognize that the companies have functionally paid the government back. income into the government coffers does not really make sense. so long as the government is on the hook for having to bail them out. >> on the hook for bailing out a large number of institutions. all of them had the opportunity to pay back. we have said fannie and freddie cannot pay back. at the end of the day where watching these crazy machinations in washington, focused on restructuring the mortgage finance system and talking about dismantling the cornerstone. >> t

treasury a $7.2 billion dividend next month, fannie mae will have more than repaid the u.s.illion bailout that there received. the government rescued fannie mae and its sibling and freddie mac for the crisis in 2008. >> want to bay area sports. warriors' at home taking on the rockets. steve blake, three points, 1 assists in 80 minutes and his warriors debut. stephen curry finished with 25 points, and the warriors' outlasted the rockets 1 02-99 in overtime. the warriors got a big boost in overtime when germain o'neill, who was filling in for injured center andrew bogut, blocked chandler parsons baseline don't attempt at the brent. followed with two free throws to give golden state a 98-95 lead with 15.9 seconds left. >> for a while is it like the u.s. women's hockey team would take home the gold. this settled for silver, after canada pulled off in overtime miracle. it was a heartbreak loss for the americans. >> the u.s. remains at the top of the medal standings, with eight gold medals and 25 total medals. russia and the netherlands round out the top three countries. >> coming

to privatize fannie mae and freddie mac.all the time.bama administration says we want to privatize fannie mae and freddie mac. it's been years now and the president has butt out absolutely zero capital to get that country. so the reality is fannie and freddie are making money again and that's why shaun donovan can say happy times are here again. i've got monday to give to you. >> bottom line, what will happen, will this $5 billion fund be enacted? >> you think it will be enacted. mel watt who is thousand running fannie mae and freddie mac, he already has two funds he can start to fund at his open discretion. i think you'll see that happen and what i think is you'll see taxpayers standing by very risky stuff. >> we've been there before. mary, great to see you. thanks so much. >>> love to know what mayor i rnks about cvs now that they're winning praise from at least some people for a decision that they may stop selling tobacco products. does it really matter? will smokers stop? we'll tell you about the changing nature of that vice in ameri

fanny's reimbursement means they would have recouped $192 million coming out $5 billion on top.ting of the housing bubble that caused massive losses not just for both fannie and freddie. today comes the pay back with the profit. wolf? >> billion dollars they have gotten back. what about the huge bailouts we were familiar with during the height of the economic troubles five years ago? >> not everybody came up with a profit. general motors came up $10 billion short. more than $1 billion short when you look at chrysler. they are not the only firms to pay back more than they got. taxpayers made almost $23 billion of profit on the aig bailout. they made $22 billion from the combined bank plouts and that includes citigroup that paid the most back. not just for the banks, but the automakers as well. they shouldn't be in the business to step in had to rescue private companies. the government's argument was hey, without the intervention, letting them go belly up would have had a bigger impact and cost us jobs and made the reception more painful. this is really even after the companies ap

. >> asÍ es, bueno a horas de premio lo nuestro jomari goyso se encuentra con la cantante fanny lu unaar tiempo?. >> siempre te dedico tiempo. >> me parece muy bien. >> finalmente ¿me vas a echar el sermÓn?. >> lo mÁs importante las advertencias que tengo que hacer. >> me parece que estoy en el colegio con la profesor me va a decir. >> ay! escÚchame. >> necesito que llegues el jueves sabiendo que no vas a criticar, que me vas a amar. >> pero si ya te amo. >> pues me vas a amar mÁs cuando me veas me vas a ver tan hermosa. >> no puedo prometer nada. >> ¿si me ves hermosa quÉ vas a decir?. >> quÉ hermosa estÁs. >> pues te amo y eres hermano es sa. >> te agradezco que una celebridad sin maquillaje nos deja hacer la prueba porque vamos a hacer la prueba para el jueves para los premios. >> okay vamos a probar cosas. >> fanny ha dicho claro ven con una cÁmara no importa. >> querida. >> lo queremos. >> pero mucho. >> claro. >> estÁs nominada antes o sea rÁpido estas nominados para premio. >> mejor artista tropical femenino. >> y presentas tambiÉn un premio en premio lo nuestro. >> sÍ presento

stick with us for that. ♪ >> fannie mae is on an incredible role, and u.s.axpayers are the big winners. the housing finance giant bailed out by the government in 2008 announced it will write a 7.2 billion dollar check to the treasury department after reporting its eighth straight quarterly huge profits. chief washington correspondent peter cook is with us. and it looks like, and i am just looking at the numbers here, the very cursory numbers, they are making a killing in giving it all back. isn't that great? >> they're making a lot of money. $84 billion in 2013. >> $84 billion. with that into perspective. that is more than goldman sachs, morgan stanley, and jpmorgan's annual profits all put together. >> and the profit all goes to treasury? >> almost all the goes to treasury, yes. it under the terms of agreement, after it went to conservatorship, we have lawsuits pending, but the bottom line is, the total bailout to fannie mae was about $116 billion, and now the dividend amount on paper, not a direct payment back, but on paper, taxpayers are ahead, 121 $.1 bi

fannie mae will have more than repaid the u.s.dollar bailout it received. the government rescued fannie mae and its sibling freddie mac during the crisis in 2008. mortgage rates are on the rise.again. the average rate for a 30- year fixed loan jumped to 4-point-33 percent that's up from 4-point-28 percent last week. the average rate for a 15- year fixed loan rose to 3- point-35 percent. mortgage rates are up about a full percentage point since hitting record lows about a year ago. hey! hi! ladies, how are you? let's taste some wine. ♪ ♪ seize your vacation with a southwest airlines sale. go to southwest.com, where our lowest fares are now available as low as $69 one-way. book now at southwest.com and carpe vacay. ♪ wht ofandfls eh ye?ugh astiwastto cer m raier by usingne ls trh bag ch mth, can angladorceex bs sttch unl th'á so youan te th out ss oen. it y se strge, t people allyan le thr laxative. escially wheit's milax. hydtes,ases, and ftens, allyan le thr laxative. unbck your syst natally. said welcome back to the kron4 morning

fannie mae will pay $7.2 billion after a profit. this pays the dividend profits aboved $116 billion worth of aid that fannie received after the financial crisis. underarmor ex tendsed its sponsorship contract with the speed skating team for eight more years. the deal comes after underarmor drew criticism from olympic athletes who were saying that the underarmor suits slowed them down at this winter's olympic games in sochi. and finally ukrainian opposition leaders join the nation's president in signing a peace accord to halt a deadly nearly three-month political crisis. those are the top headlines. back to you. >> thank you so much. let's get more details on that barnes & noble story. so, we've got this latest news involving barnes & noble. where is it likely toped up? >> i think it depends on whether this investor, which has been a barnes&noble shareholder, has the means to actually make this happen, if push came to shove. i think a lot of people viewed this as perhaps giving a little push to barnes & noble to think about its futur

one of my favorite parts or quotes from fannie lou hamer is, captures the dynamic that you're talking about; that is, the political violence on one hand and self-defense on the other. so fannie lou hamer in response to people who were questioning her about the beatings and abuse and, you know, she just had a horrible early life. she says, baby, you just gotta love 'em. and what she's talking about is sort of a scriptural response to her enemies. and it's exactly what you would think of in terms of the nonviolent movement. she goes on to say hating just makes you weak and sick. and then someone asks her the second question; that is, well, how did you survive so many years of abuse and so forth? and without missing a beat, she says i'll tell you why, i keep a shotgun in every corner of my bedroom, and the first one of these folks who wants to throw some dynamite on my porch won't write his mama again or something like that. [laughter] and it just captures in a way that you see occurring over and over and over again the dynamic that we're talking about. and fannie lou hamer is one, i've

fannie mae is set to reimburse taxpayers for the 2008 housing bailout. after strong fourth- quarter earnings, the mortgage giant will pay a dividend of more than 7-billion to the u.s. treasury next month. at this point, its 116-billion dollar bailout payment is offset - and more than fully repaid. the government rescued fannie mae and freddie mac during the financial crisis in 2008. both are still under federal control. now that the crisis is clearing.. federal reserve officials are releasing what was said as the finanical market was melting down in 2008. among the comments from fed members in newly released transcripts...fed chair ben bernanke told colleagues he was philosophically torn about the collapse of lehman brothers. there was a debate on whether to loosen monetary policy. and a discussion the consequences of taking measures to rescue the u.s. financial system. "there are probably going to be 100 more consequnces when its all said and done but right now the fed is flying a plane with no windows, with the idea that this has never been done, and t

fannie mae and freddie mac are close to paying back the 2008 bailout. the two are closing in on the $187 billion owed to the government. as the housing market improved- fannie and freddie were able to return 130 billion dollars in profits to taxpayers last year. however-- a citizen's group argues a portion of that money was originally meant to fund housing for the low income and homeless. the agencies report earnings later this month. chrylser is expected to pay $5 billion to the united auto workers trust in the final payment owned from its bailout. the car company signed off on a bond sale that will reimburse the uaw health-care trust. chrysler is owned by fiat. fiat is planning an ipo for this fall. in our cover story, the auto industry is shifting gears. winding down, in australia--- toyota, the last automaker there announced it will cease australian production in 20-17, ending australia's 66-year-old auto sector. while, in germany, audi plans to add shifts to keep up with rising demand in china and in the u-s. if you're looking for a serious car sho

fannie mae is offering to cover 3% of closing for some buyers. to buy one of the homes the government owns. fannie mae owns homes in the 27 states where the incentive is available. you have to buy through the first-look program. that gives you 20 days to bid on a property. the closing cost offer is available through the end of march. good luck. >>> if you are not shopping for a steal, we have a deal for you. give me 60 seconds on the clock. it's "money time." you can buy al capone's miami beach hideaway if you have $8.5 million. he died in the house which he bought in the '20s. >>> eat more chicken. antibiotic free chicken. kraft is taking preservatives out of the singles. >>> attention drivers. higher gas prices ahead. gas buddy says pump prices are likely to rise 15 to 40 cents a gallon. buckle up. graco recalling 3.7 million car seats. the harnesses can be difficult to unlatch. the government would like a bigger recall of millions more. >>> a big week for bathes suits. air new zealand features swim suit models. barbie is featured in the swim s

government had to bailout fannie mae and freddie mac in 2008.nie mae and latest dividend payments of $7 billion to the treasury department now pushes its total payout above the $116 billion it got in bailout money. paying it back. then there is this. window into the worst moments of the financial crisis. just released transcripts from the financial crisis shows that officials struggle to understand the enormous the of the problem. you were not the only ones confused. at the september of 2008 meeting lehman brothers going down, bear stearns in massive trouble, fed officials decided to seek short-term interest rates at 2%, janet yellen who was then president of the san francisco agreed with that decision but worried about, quote, downside risk to the real economy. you know where the story went and we went to 1/4% and have stayed there ever since. private investment firm asset management denouncing it made a proposal as we get a shot of this place, 51% of barnes and noble valuing the book retailer at $22 per share. here is what happened with shares

fannie mae reported they will pay an additional $7 billion in profit to the treasury. that brings the total payment to 192 billion. illinois is leading an investigation into the student loan and debt collection practices. sallie mae is the largest amount provider in the united states. it is part of an increasingly broad review of student lending. other states are taking part in this probe. they have not yet been identified. porsche is telling the owners to stop driving. this after two of the cars caught fire. the company is recalling all 785 of the 911 gt sports cars. there are 408 of the cars. engine damage occurred in two vehicles that caught fire in europe. neither caused traffic accidents or resulted in any injuries. the car maker says they're still investigating the cause. >> sports is next. a new application that can help drivers fight parking tickets. >> live music from the future laureates. >> [music] >> bingo! >> it's a shame sadie isn't here today wins. she always coulda won the big prize. >> you know, that coulded her with some of jim's f have helps.uneral e

and fannie, it's funny, if you were to talk to a lot of people, people think fannie and freddie are government agencies. they're government sponsored. they're shareholders that actually did pretty well. they're private companies. and it's like the only example, i love it, of republicans spending so much time trying to do away with a company and complaining they made too much money. it's like where else do you hear that, you know? but i appreciate the conversation and the contribution that all our panelists have made both on this panel and on the previous one, and i hope that we've advanced the understanding particularly for middle america of what's at stake here, because this is one of the singlemost important issues that gets talked a lot about in this town, in washington, d.c., but not a lot out there. and, but people feel impact already, the difficulty in getting access to mortgages, the constriction of the market. all this is related to this conversation. so we really do have to get this right so that people who are willing to work hard play by the rules, pay their taxes, have access to de

said that would never happen but indeed he did so only goldman sachs knew that he would bail out fannie mae and freddie mac. so this is one of the speculations about mt gox is that of course they know whether or not they have only mark karr peleus knows if he has big coin to give to his clients so he could if if he does have he could of course buy at one hundred dollars and then sell them at six hundred dollars later right well goldman sachs for more you know was actually taking a close look at that calling now and then been doing some internal research and circulating internally so obviously they're quite envious of mt gox and big point at this stage and grabbing market grabbing attention it's obviously the growth industry to be and i think goldman sachs will participate like some of these other new up starts well but they will try and they of course will do it. or they need to do to try to grab as much of this business as possible then become goldman sachs by sitting on the sidelines and then finally a quick little headline about the biggest participant in the money laundering operati

oreja, fanny lu. >>> Él a ella?rdida a nosotros. >>> entre jomari goyso y rodner hay que cuidarnos muchachas. >>> quÉ dijo? >>> quiero que que me aclares cÓmo que te muerde la oreja fanny lu? >>> ella piensa que amenazandome no voy a hablar mal de ella si va mal vestida. >>> si voy mal. si voy bonita. >>> te quiero incondicionalmente, te puedo querer y mal vestida, y bien vestida, el querer es igual. >>> vas a hablar con mucho amor. >>> fany, pareces una gallina en la cabeza pero te quiero. fany el vestido no te quedaba, pero te quiero. lo positivo de esto, quedaste tan, tan mal, que tienes mÁs posibilidades de verte bien la siguiente vez. >>> si quedas superbien. hÍjole, luego estÁ difÍcil. >>> yo no me visto para ti. vestirse para una sola persona es complicado. >>> para mÍ desvistete. (risas) >>> bueno. ahÍ lo escucharon, jomari goyso aclarÓ quÉ habÍa pasado, Él viene mÁs afilado que nunca. inclusivo luego de verlo en "nuestra belleza latina" esperamos de todo. inclusive fanny lu que es su amiga, dijo que no se e

the need to have fannie or freddie or the equivalent in housing finance system. we should begin by knowing that the u.s. is practically alone in the entire modern industrialized world in having government sponsored enterprises directly guaranteed mortgage securities. the u.s. is also practically alone in the level of direct government subsidy and intervention into our housing market. and guess what. we were also practically alone in the level of turmoil in our housing markets as measured by foreclosures and languages. ladies and gentlemen, i posit to you there is clearly a direct causal link. by almost any measure fannie and freddie have not propelled the united states the housing finance nirvana. again, when compared to other modern industrialized nations, whether we look at rates of homeownership or whether we look at spreads between mortgage interest rates and sovereign debt, the u.s. can usually be found somewhere around the middle or the bottom of the pack. again, regrettably, there is one unfortunate category with the united states has clearly read, and you

fannie mae and freddie mac cutting final checks.istine romans has that story. >> reporter: the battle days of the bailout, this one, one of the most ugly, expensive of the financial crisis, taxpayers shouldering a huge burden. but they're getting a paycheck. not all taxpayers are happy about it. i'll tell you why after the break. ses at the age of 80. helps reduce the risk of heart disease. keep heart-healthy. live long. eat the 100% goodness of post shredded wheat. doctors recommend it. you get 4 lines on at&t's network... including unlimited talk... unlimited text... and 10 gigs of data to share. 10 gigs? 10 gigs. all for $160 dollars a month. you know, i think our family really needed this. it's really gonna bring us closer together. yep. yep. yep. yep. yep. [ family ] yep. [ male announcer ] introducing our best-ever family pricing. for a family of 4, that's 10 gigs of data with unlimited talk and text for 160 dollars a month. only from at&t. yeah. i heard about progressive's "name your price" tool? i guess you can tell them how

take a look at what fannie mae had to set about the future.nificant probability that long-term, the large lender piece of the business will get back on track and will increase. you think, not necessarily so. you like this business. >> i do like this business. it is part of being a community bank. we are helping people with their investments. small investments, large investments and also their lending needs. jeff: it is a bit of a throwback. smaller lenders, not only you, let's run through some of the companies. penny mac, they should start, these are companies that are really getting some traction now and taking away from the bigger banks. there you go. glenview state bank. one of many around this country doing mortgage business. nice to should you buy this one? that is next. ♪ for over a dade millions have raised their hand for the proven relief of the purple pill. and that relief could be in your hand. for manynexium helps relieve heartburn symptoms from acid reflux disease. find out how you can save at purplepill.com. there is risk of bone

reforming fannie and freddie is a priority for this committee. i'd like you to take a couple brief moments to discuss the need to bring private capital back into the market. >> senator, i strongly support and would urge congress to address the issue of gse reform. we've gotten a mortgage system that in a way, be factor sense remains very highly dependent on government backing. and it fails to meet the very important objective of success. securitization without systemic risk. there are a number of different ways in which congress could proceed with gse reform, depending on your assessment of appropriate priorities. in my personal view it's very important for congress to decide explicitly what the role of the government should be in housing finance and there are a lot of possible choices available i think many terms of bringing private capital back into the market, we now have a system where almost all mortgages that are being granted in this country have government backing associated with it, and i think to see private capital return in meaningful

taxpayers are making from fannie mae, according to the government. put that profit into the u.s. treasury next month. this is more than just money. it's a milestone, they say. taxpayers have now gotten back all $187 billion from the fannie and freddie bailouts. officials say a drop in mortgage delinquency had a lot to do with that success. little brother freddie mac has already repaid its bailout. >>> rubber necking in a car accident is free out on the road but you can actually pay to gaze at wreckage at bowling green, kentucky. what a shame. apparently people really want to see these damaged cars, dings and all, so the museum is planning to put them on display before they are sent to the body shop. the vets are still in the hole and won't be pulled up for a another couple of weeks. >>> volvo used to get a bad rep for being boxy. now volvo is experimenting with a new technology that will allow ups deliveries to the trunk of your car by giving delivery guys a special key that will grant them temporary access to get inside. customers will be able to tr

fannie and freddie aren't in dodd-frank -- >> all those low interest rates, nothing to do with that,at spurred the housing excess and clearly pushing fannie and freddie to do subprime loans. >> that's right. >> you had a host of republicans and democrats, and that had a huge impact. >> absolutely. so if we are off on a fool's errand, not solving even the last crisis, what are we setting ourselves up for? liz: you want to tell mary jo white that she should come on -- >> i absolutely will. >> insider trading, are we done with the big motherlode of cases? >> wouldn't you like to know, charlie? [laughter] >> spoken like a true sec commissioner. liz: it's a pleasure to have you. >> thanks for having me on. liz: dave gallagher, charlie gasparino, terrific to see you. shares get pun you shoulded, we're going to tell you why, and what's really going on behind the scene ass abc -- as abc and gma at battle against comcast and today show. and how much revenue do these productions really bring in for tear parent companies? who's going to win? gotta watch this. ♪ ♪ i ys say be man with the plan b

morgan stanley is said to have falsely marketed over $10 million in securities and sold to fannie andfreddie. also tuesday, the financial giant j.p. morgan agreed to $614 million fine for thousands of flawed mortgages whose losses were ultimately covered by taxpayers. jpmorgan has paid over $20 billion in fines and penalties in the past year. the obama administration is reportedly scaling back drone strikes in pakistan at the request of the pakistani government. "the washington post" reports pakistan asked for the pods in midst peace talks with the taliban. a preliminary meeting between the two sides was delayed on tuesday after the pakistani government failed to show up. there appears to have been no u.s. drone strikes in pakistan since december, the longest pause since 2011. a hearing in washington, the house intelligence committee chair mike rogers lasted president obama or his pledge last year to rein in drone attacks overseas. president made 2013 policy charges that changes aren't utter and complete -- are in utter and complete failure and leave americans lives at risk. thus chan

fannie packs. dammit, not even dockers could dampen those fiery thighs. timely i had to resort to gay krypton identity, crocs. >> tas's better. >> oh, that's fantastic. you look hideous. heterosexuality is key. (cheers and applause) >> stephen: great report, buddy. >> thank you. >> stephen: you did it again. i've never seen anyone out in the field do what this guy does. you're amazing. >> thanks. >> stephen: great report, buddy. >> well, i certainly enjoyed it. >> now remember folks if you want to support the u.s. speed skating team to going to cole betterfacial.com to get your official colbertnation speed skating shirt all proceeds go directly to the team. let's hear it for buddy, buddy, buddy! !ç sbk z42&m@:c0,x 0 >> stephen: welcome back, everybody, thanks so much. folks, we now turn to our continues report coverage already in progress. as you know, i have been a lifelong if the ball fan for almost two weeks now. and like all hard-core foot nuts i was looking forward to may's nfl draft until i saw this. >> an all american football star revealed he is g

jeb was there, talking about shutting down freddie and fannie, and tom price about health care reform. >> there are some republicans that have taken some shots at heritage. devin noons. i don't look to them. mike simpson, since they became political, people have said, i don't need that anymore. and richard burr, not exactly a moderate republican, from north carolina, i'm not sure i've ever seen them listen to anybody. they can have all the summits, but this doesn't make a squat of difference. what do you say to this, orrin hatch was pretty tough on you guys, on my show, a couple of months ago believing you guys led them down a shutdown path that was a mistake. >> i think they're politicians who just want to go forward and preserve the status quo, deem debt limits passed, not pass fundamental tax reform, because it might upset somebody on k street. we'll probably not have the best working relationship. go there's big, bold politics that want to go to the american people and present a choice, like ted cruz is on energy, in a speech he gave monday at heritage, like tom price is on obamac

fannie and freddie don't originate loans. secretary donovan spoke at a conference hosted by the national association of hispanic real estate percent taxes. he spoke for about 25 minutes. >> thank you so much for an incredibly generous introduction. in particular, i want to say thank you for your tribute to ernie. i know i am joined by all of you here. outgoing president juan martinez, all the great contributions he has made. your incoming president, jason madiedo, on his new role. i also want to acknowledge that two great friends, henry cisneros and brian montgomery, are here as well. let's give henry a great round of applause. brian. [applause] all the board of directors and, in particular, gary acosta who has just given remarkable service over so many years. i know all of us join you in remembering the great life and the great work of ernie reyes. i was deeply saddened to learn of his passing over the weekend and i first want to send my best wishes to his family. i also want to make sure that we not only remember with sadne

. >> talking about fannie and freddie. i personally always wanted to amend and reform them. however, i've always thought that it's wrong. fannie and freddie is now pretty much paid back the money they have borrowed from taxpayer. i don't know exactly there but close to it and on their way. and yet at the moment, they have not been allowed by our own laws to pay one penny towards the payment of that principle. there are lawsuits going on as i'm sure you're aware. i'm just curious. do you think that it is fair or wise or ek quit as able to keep them in state once they have paid back their debt? >> i think with respect to sg s sge's, i think it is really very important for congress to put in place a new system to address gse reform. i think we still have a system that has systemic risk, that government funding remains critical to the market sector and i think to really get housing back on its feet, it's important for congress to put in place a new system and to explicitly decide what the role of the government should be in helping the housing sector. >> time of the gentleman ha

bridge the gun the help to buy scheme for real estate which is a copycat of fannie mae and freddie mac. debacle which caused the subprime crisis two thousand and seven the british energy corporations are going to take fracking even though in america it's been proven to be completely an economical and environmental disaster but they're going to do it here anyway because why nobody in the media here except for maybe george will be up over there to garden will say anything about the fact that this is an ecological disaster and more importantly an economic gloom doggle that will increase britain's debt to even higher than it is right now the highest it's been a decade. a transit route to vnukovo report your best way to the heart of mosco. you thought i was already an. ultra nationalist groups are seeking to grab top jobs in ukraine's government has a list of potential ministers is set to be put before protesters in kiev. meanwhile demonstrators in ukraine southward to find the country's new leadership pushing for greater autonomy and protesting against the neo nazi groups that are gaining

fail, you have to start with fannie and freddie. there is no one who is bigger than these two institutions. >> in 2008, one of my colleagues thought, you have two insolvent companies, we have to get rid of them. how hard can -- how hard can that be? and here we are five years later and still hasn't happened. >> what do you think that tells us about the administration's real position on house regular form and what should we expect oming out of it? >> i'm supposed to be meeting with my former colleague soon, looking to my trusty staff, i hink he's reached out. i have a lot of respect for mel watt, we have not seen eye to eye on many issues, i'm hoping that perhaps from a different perspective in the top row on the democratic side of the house financial services committee maybe there'll be an epiphany about issues, i don't know that to be true. i will comment less on my former colleague and perhaps comment more on his predecessor and that is, rarely will you find a more astute, finer public servant than ed demarco, who did incredible w

taxpayers have recouped all of the money they gave to the mortgage companies fannie mai and