that's a little bit like what fannie and freddie were. and we were racing against time to stabilize those before we knew some bad earnings were going to be coming out from the banking sector and particularly the lehman brothers losses. so that was a race against time. and i was fortunate, we were fortunate that we were able to get it done without the markets becoming spooked or unsettled. so that's why i was, you know, why that, what i'd heard in china got my full attention. >> there's a front-page story in the journal this morning about freddie and fannie, and it's very much worth reading. and i believe it said that there's now 111 billion that's within put in -- that's been put in by the federal government, but it's expected much more will. so, in effect, it presently looks like the federal government will lose more money in freddie and fannie than in aig by some margin. >> well, warren, i look at these programs overall, okay? we will get every penny we put into the banks back and with a profit. >> yeah, i think you're right. >> and i t

where we shut down washington avenue in front of the fannie mae offices. we moved and drove to for genia to the freddie mac offices and protested out there. from there, we drove to maryland to the then head of the hsa, and we held a protest and a pizza party in front of his home, ofling for the firing someone because he was unwilling to work with the people. actions, of our direct we have gotten significant policy changes. mac usede and freddie to have an arms length deal which meant that i was not able to buy back my home. if you were going to come and buy my home, you had to sign a deal that you would not rent to family, have in my no contact with me, and that was the only way you would be able to sign and close on the home. 2014, we haver gotten that policy changed. now, i am in the process of buying back my home. [applause] gotten that as hsa fund a trust for housing. push is that they implement the use of it, and not in a bank. sit if they moved to sell it to an investor, they have to accept the rents, and no fall exist you. passedspringfield, also th

fannie mae also owns the loan that rivertown took out on their home.he williams protest that the loan was obtained fraudulently. >> fannie mae lawyer says, "we don't care. we don't want to hear about it. you want to stay in your house, you want your house, you will give us over $500,000." >> narrator: fannie mae declined to comment to "american greed." but the circumstances pile tremendous stress on williams, who continues to get chemotherapy treatments five times a week for her ovarian cancer. then just after christmas 2013, the williams get their eviction notice. >> thwas my home. it's not my home anymore. they took it from me. >> narrator: james and audrey williams return to their old home for the first time a month after their eviction. >> this was my porch that we used to sit. we had our furniture out here and -- >> watched the world go by. >> i painted this whole house myself. all of this, i did of my own -- with my own hands. [ sighs ] the end result is where we are now. i'm at my mom's house. and it's not a good look. >> in the springtime, i'll

senate 2036, an act to suspend the current compensation packages for the chief executive officers of fannie mae and freddie mac and for other purposes. the speaker pro tempore: pursuant to the rule, the gentleman from texas, mr. hensarling, and the gentlewoman from wisconsin, ms. moore, each will control 20 minutes. the chair recognizes the gentleman from texas. mr. hensarling: mr. speaker, i ask unanimous consent that all members may have five legislative days within which to revise and extend their remarks and include extraneous material on the this bill. the speaker pro tempore: without objection. mr. hensarling: mr. speaker, i also ask unanimous consent that the exchange of letters between the committees of jurisdiction be included in the record. the speaker pro tempore: without objection. mr. hensarling: mr. speaker, i yield myself as much time as i may consume. the speaker pro tempore: the gentleman is recognized. mr. hensarling: thank you, mr. speaker. rise in support of s. 2036, the equity in government compensation act. i would like to thank the gentleman from california, mr. royce

fannie and freddie were put in conservatorship. home prices dropped 30% from peak to trough hundreds of thousands of jobs, 600,000 jobs, 600,000 jobs a month we lost when president obama began his 1st term, and you know, so much damage, and liquid has come out of it. a lot of frustration on various issues and how certain things a been implemented and a lot of dynamic tension with the regulatory process, but in many ways the market is functioning better than i would've ever expected given what happened preceding it. and today we are just passed implement in the final rule that was obligated under .-dot frank, housing markets improving. >> finally coming out. and that is only the final rule, and obligation. so we will talk of other things like enforcement and 30 in those kinds of things, but i really look at the fact that we have gotten through this and can now begin talking about opportunity at this point. as sort of a positive, most surprising outcome when really it was a pretty difficult scenario developing back a few years ago. >

second, this amendment addresses what i see as a further entrenchment of fannie mae and freddie mac. this is particularly timely because just this week we learned that freddie and fannie may need to tap the treasury once again and sad they will taxpayers with the bill. this amendment further proteches the taxpayers, allowing congress to continue to raise fees will make comprehensive housing finance reform impossible. our amendment addresses both problems by liquidating and dissolving the federal reserve capital surplus account. the federal reserve currently has about $29 billion in capital surplus account this account is made up of the earn thegs federal reserve has retained from nsting member bank's money. let me say that again. the surplus account is made up of earnings that the federal reserve has made from informsing member banks' money. the federal reserve continues to hold this account in surplus at a time when our nation is, is over $18.5 trillion in debt. this is not a perfect policy but it's better than the alternative. it preserves the neutrality of the bill and counters ir

but i should back up there were the first i guess it was bear stearns but then fannie and freddie. they were put into conservatorship for their supported by allied of credit from the treasury and then they were taken over and said it would be temporary. we will figure out how to read for a man and we will reform them but here we are seven years later still in the conservatorship type of state so how do you want things to be financed? it is not resolved. it is every but what i'm trying to do is show a long term historical progress not days and hours to follow the trend line and not the headline. with the bigger picture of the abolition of slavery show with a few corrupt governments the abolition of torture is now illegal lowball democracies, the right to vote by black sand women's every where there are now 118 democracies in 1900 there was only a couple. so that is the big progress that we talk about. same-sex marriage is no legal. >> land you include that? >> the younger people would say no. >> that want to preserve the hierarchy that class based society but the long-term trend wil

where we should down washington avenue in front of the fannie mae offices and from there we drove to freddie mac offices and protested. from there we then drove to the head of the house and we tell the people party in front of his fellow calling for the firing as he was not willing to push fannie and freddie to work with the people. since all direct actions we have gotten significant policy changes. they used to have the arm's-length deal that meant i was not allowed to buy back my home. when you had to sign the deal and would not read to me or anybody in my family, no contact but now that policy is changed ivan the process of buying back my home. >> caller: and then to and the proposed to build and maintain affordable housing there is the depiction perspective bill to make the banks less is say hello lou that will occupy the property so they have to except the brent. once implemented as a 90% success rate. but if the bank refuses to repeat so it is able to maintain this the whole -- and also requires the banks of the now we are in boston pushing for a bill through the municipal auth

fannie mae recently announced they're doing a new type of scoring.y're looking at a borrower's long-term credit health. they call it trended credit data. and they're using the credit agencies. so you don't just get a report that says oh, this credit card's up to date or that's not. it goes and it looks back at a borrower's payment history over time. and fannie mae at least is saying that that could help some borrowers who might have been on the fringe to get into that loan that they previously might not have been able to get to. >> diana, thank you. as always, diana olick in washington. >>> aig posts a big earnings miss, and that is where eyre going to begin tonight's market focus. income in all but one of the company's underwriting businesses declined, and market volatility weighed on the firm. the insurance giant's disappointing results also come as shareholders like activist investor carl icahn have been pushing the firm to break up. shares dropped initially after the close but during the regular session the stock was up 1% to 63.74. hewlett-packa

not might otherwise not qualified. >> the bubble got focused in housing because of freddie mac and fanniemae. the federal government created bubble that was way beyond housing market. there was a bubble in many markets. and that simply math mathically impossible without feds creating money to make that happen. >> i'm sure some defenders are going say, we don't know where the crisis is going to come from, given that housing was overvaluated, would you agree with that? >> no. argumently definitely nearly 80 we had worst economy. the rule of law was suspended. the feds -- the reason they were absolutely unclear to anybody in the market shows to say leihmann and wachovia. when washington mutual failed, they decided to pay. we created a housing boom. we needed a correction. a lot was done by the panic that was unnecessary. there was no rule of law and in the beginning it wasn't as bad as the early 80's, by the way, i don't -- they didn't call it the secondary affect. >> i wonder if you can comment on the notion that banks deregulated. that might have contributed. do you agree with that? >> abs

street and then to stabilize wall street is really wasn't a federal reserve possibility and then fannie and freddie by that time were partially -- partially nationalized by treasury. the one that was created to oversee the t.a.r.p. many but there was a lot of effort were you doing and can you do more? people didn't its - - respond to the calls after the modifications were done. allied did get done but i share your frustration but the administration was working on this. >> you spoke to congress many times and you didn't show it in your face by a understand from your book you were not having the time of your life. in to give you more of a chance. that criticism can comeback but here is a hero. to testify i always dislike them. >> i thought it was contentious. it wasn't about informing the oversight it was about the hearing committee there was a lot of conflict involved in title like conflict i didn't many times for the necessity to do it in to be as transparent as possible but that doesn't mean i had to enjoy that. >> for the viewer's interest and knowledge the fed share testifies twice a

on one fannie. >> i'm going to move on. >>> within ipos, speaking of horses and fannies. it is a rough ride for the ipos in recent years. go pro, fitbit and twitter have all fallen. so what does this say about the health of the rally, not just ipos. part of this is because there is a depressed stock price for something like a twitter, which is then heavy on a snap chat. >> these stocks and other stocks that we mention, doesn't have anything to do with the health of the broader market. you could make an argument that each one of the names on the board are stock specific names. i thought go pro could make themselves into a media company. i was 100% wrong. i also thought it was a valuable property. clearly it is a one-trick pony. and fitbit the same thing. but i still think twitter is the most valuable property. look at the market cap of go pro. what is to stop somebody from bitting $4.5 billion and taking that over full stock and barrel. >> i understand what guy is saying. but when you look at the bigger picture, we had carter worth on the other night talking about half of

finally, you know, fannie mae and freddie mac were fine until they weren't. and they left the taxpayers with $150 billion tab. i'm looking 10 years down the road, mr. chairman. looking at the debt that this country continues to accrue an thinking about the obligations that we have to meet in 2025, per our seniors. -- for our seniors. for our veterans. i want to make sure we're not going to have a bailout at that time of this constitution. all this amendment does is says who bears the risk of loss? -- loss? the taxpayer or the entity that made the profit. i continue to reserve the balance of my time. the chair: the gentlewoman is ecognized. ms. waters: i yield one minute to congressman lucas. the chair: the gentleman is recognized. mr. lucas: i thank the gentlewoman. i would note that the bill rears businesses to factor in guarantee for repayment in addition to the fees and interest already required. those additional costs would make it -- make u.s. business less competitive that said, once again, i urge my colleagues to turn back this amendment, turn back all

treasury lead effort to do modifications and refinancing, working with fannie and freddie.i was aware of all that was going on because actually on one of the committees created by the tarp bill to use the money and i got regular reports and i understood what was going on. all i can say was that there was a lot of effort. i frequently heard from president obama, what are you guys doing, you need to do more. i don't really -- i don't have a satisfactory answer than say it was hard to do. people didn't respond to your calls for refinancing. they -- they redefaulted often in many cases after the mod if i can cases were done, records were incomplete, a lot of refinancings and mod if i if i - modifications didn't get done but i shared the frustration. >> you were all in front of maybe not all in front but spoke to congress many times in banking committee in which i served. i know you didn't show it in your face, but i understand from your book you were not necessarily having the time of your life. many of us accuse you and the fed, or so pred ces -- predecessors that criticism co

one is there's a constituency for disliking fannie and freddie, and dislikingliking the gses. there's political juice at some niche level what to do about it and there's also a political constituency around the issues of equal access and affordable housing issues. again, those are not the same at as terrorism, economy, jobs, and the like. but at least in certain forums and certain settings, if you are trying to get the support of three percent over here and three percent over there hairs at least some opportunity for discussions and has to be at a high level. people don't sit around the vfw, wearing carhartt jackets, playing the meat raffle. they got a great white paper on -- [laughter] >> -- that corker warner white paper. they're just, like, more of a table-pounding -- they just say it's crazy you have something calls fannie and freddie, government-backed, 95% of the mortgages in the country. is that smart? hell no. do you think people who are disadvantaged to have extra help in trying to get access to decent, safe, affordable house, yes, within reason. so that's as details

here's a couple of them: a fanny pack filled with pudding. the spoon is sold separately. then, there are the hot gifts for the half human, half horse shoppers, including mane and tail precision archery sets. and for the parents looking to trick the kids into doing their chores, there's this: a space sucking vacuum cleaner and a luke skymopper. just ahead -- holiday security... despite recent terror attacks, new yorkers took to the streets for this year's macys thanksgiving day parade... e city is keepsports, we'll get you ready for the black friday showdown in ren't working. 1.3 million new jobs were created. we cut taxes every year. income rose in people's pockets. people were lifted out of poverty. children started to learn. as president of the united states, i pledge to you that i will solve problems. announcer: right to rise usa is responsible for the holiday security... americans remember all they are thankful for this thanksgiving... plus the increased security at festive attacks. and turducken... how this popular thanksgiving dish got it's name... and how it's made

. >> i've got my fanny pack. my list. i'm so much more prepared than i was last year. >> reporter: black friday sales still going strong across the country tonight with many stores open since thanksgiving. >> the adrenaline, the deals is why we're shopping on black friday. >> reporter: chaos breaking out in this florence, kentucky, shopping mall. in oregon, one customer climbing over the food display in a walmart. and discounted towels flying at this walmart in louisiana. >> when you really want something that has a limited amount, there's a certain type of rush that you get. the blood starts flowing a little bit quicker. >> reporter: at one point, target selling a brand new apple ipad every second. this three-foot teddy bear for $10 selling out in a matter of minutes. >> $10, old-fashioned toys, they loved it. >> i got a bluetooth speaker, panasonic blu-ray player, beats headphones. >> reporter: but this year's biggest black friday trend? online shopping. thanksgiving online sales up 26% since last year. for shoppers, th

fannie: the bay area is kind of like in a class of its own. it really, really is. do what we want to do and get away with it. anthea hartig: california, of course, had to be this wonderful, crazy, mythical place of dreams. peter coyote: any story about bay area icons

does fannie mae think not enough people are qualifying today, i assume? >> well, absolutely. it's what stan was just saying. not enough people. only the people who are wealthier who have that equity, who have the great credit line are being able to get the loban at the best rates. it's called trended credit data. it looks further back into how you pay your bills, not just if you have missed a payment or if you're up to date on your credit cards or up to date on your student loan payments. it goes back and gives you more of a trended credit history in going into that score, but, again, it's still going to rely heavily on what that exact number is. when you go to any lender today, whether it's a purchase or a refinance, they want that number before they're willing to give you that best rate. you could have lower credit, but you're going to have to pay mortgage insurance or pay a higher rate. it's going to cost you more. >> so, stan, if fewer people than in the past can qualify for mortgages, take me through the thinking. what is the implication of that for house prices. if fewe

fanny pack filled with pudding. $9.99. of $10. >> i can work with that. >> so here's the third one. it's a tent with an angry possum. 50% off. $24.99. >> does the pos system sum comes with it. >> while quantities last. he came up with creative stuff this kid. >> then there's this. the hot gifts for ken towers. >> half man, half horse. >> buy one get one free mane and tail and a standup desk unit and precision archery. >> i like the luke sky mopper. >> don't forget star wars. >> so actually you know what, after all this, target thought it was kind of cute. they said it was a nice little attempt. >> so they did respond. >> they did. >> polka time now. >> they're not selling kyle's bar mitzvah. >> ♪ ♪ break the doors down join the pack help our stores get in black ♪ ♪ that's the black friday polka ♪ ♪ come on shoppers out of bed santa claus is in the red ♪ ♪ that's the black friday polka ♪ ♪ you help our economy by spending all your pay ♪ ♪ teet bad none of this junk is made here in the usa ♪ ♪ stars and stripes still the kin

fannie and freddie and aig those were about to happen. to allied the problems to say we need legislation but maya regulate election said libya for page ability to pass immediately one of the vagueness i do on hard votes to make for and against it and felt without i wrote best but i will ever cast and worst political votes i will ever cast knowing that it was painful i am not exactly a wall street guy but i also knew what was best for my country. the stock market dropped 700 points. you remember that very well. but what you did with t.a.r.p. in the auto rescue was immense importance per cry want to go to the next up to talk about the nine brothers in the actual target issue that the heading is from that financial crisis to the satisfaction of heat-moon treasury it is hard to forget although it is easy to forget details from that day in 2008 with the last four months of the year to the first half of 2009 many of those were manufacturing jobs and you right over and over how this will help with a tax cut stimulus that you supported in retrosp

since entering a federal conservatorship in september of 2008, fannie mae and freddie $187.5 received nearly billion in taxpayer money, making the g.s.e. conservatorship by far the costliest of all taxpayer bailouts due to the financial crisis. this is not the first time there has been public outcry over the compensation of fannie mae and freddie mac's c.e.o.'s during their conservatorship. following several years of substantial salaries and bonuses, congressional and hfa ic concern caused then f director to cap the compensation for the g.s.e.'s hief executives at $600,000. earlier this year, now fhfa director repealed those salary caps, allowing the g.s.e.'s to raise their c.e.o. pay to as much as the 25th percent aisle of comparable companies. this ultimately allowed both g.s.e.'s to increase their c.e.o. pay from the previous cap of $600,000 to $4 million annually, all at the expense of the american taxpayer, who is still backing these institutions. direct -- the director's decision to repeal the salary disapproval ked il from members of congress and the administration as well. not

for the country to have a president to know what it is like for a house to lose value because of fannie and freddie. and owe money in student loans like i once did and grew up paycheck to paycheck. >> what do you think of an answer. >> he's trying to take a potential problem and hang a light on it. >> to a certain extent is a problem. >> it is combed over when he ran for senate and you would think it would have been thoroughly dealt with. there are years of credit card that are not released and he will have to answer those questions. he's smart to turn it like he is. say i have had credit problems and debt problems like everybody else. >> first on the issue of it being mitigated. there is an issue of clinton in white water. and we determined there was nothing illegal as far as the clintons are concerned. that took a different turn. same thing can happen to mark row rubio. this is a very good spin and smart politics. but there are serious questions of how he spent party money in florida. and how he handled his personal finances and blurring between his permanent and political. he has a s

i think it is good for the country that knows what it like because of fannie, freddie, federal reservee behavior, despite the fact you did nothing wrong to lose home value even if you did nothing wrong. millions of americans went through that. martha: mortgage on his house. he is not alone in that in america. ed rollins, campaign director for ronald reagan in 1984. joe trippi, former campaign manager for howard dean. both are fox news contributors. good to have you here. this is issue that bubbled around for a long time with regards to marco rubio. the last time around, people said, well, you know if he runs there will be issues about florida finances. ed, how did he handle that question? how big of a deal is this for him if at all. >> handled it very well just as he handles everything very well. he is extraordinary debater. he knows who he is. he doesn't run away from anything. growing up. father was bartender, mother was a maid. great accomplishments in his life. donald trump was born rich. became richer by his work. at end of the day a lot more people relate to senator rubio and sno

. >> i have got enemy fanny pack. my list. i'm so much more prepared than i wasless 84.g strong across the country tonight with many stores open sense thanks givin giving. >> generally the deals is why we shop on black friday e-chaos breaking out in the kentucky mall. in oregon one customer climbing over the food decemberly in wal-mart. this one flying e.when you want something and you see throws only limited amount certain type of usual that you get blood starts flowing a little bit quicker. >>reporter: at one point target selling brand new apple$ i-pad every second. this at the if the teddy ber for 10 dollars selling out in a matter 4 minutes. at the foot steppedy bare. >>reporter: blue tooth spokee spokeer. manson ick blue ray player. head phones this. >>reporter: 84 biggest black friday trend on lean shopping. thanksgiving on lean sales up 26 percent since last year. for shop they are mona sprint but for the retailers it's a marathon. macy in chicago open the doors on thanksgiving at 6:00 p.m. and will remain open on black friday until 10:00 o'clock. now the number

just the contemplation of fm filipino but the chinese and black communities we're here to seek a fannie in genuine planning moments with the victories for the community happen because of the overwhelm punishing for what's right we need genuine community planning that will rather looking for the well-being of the community take for example, at the rosemarie she's lived with the extends family if the soma with the little income manages to send people to the filipinos and to the social fabric of soma works at a hotel as a housekeeper ambassadors come to stay here fell workers work with locals and tourist cbo shopping and received an eviction notice and here neighbor got one thousands of rose marie's outlining throughout the city the city of needs to do a better job of protecting rose marie and the city needs to ask the community what kind of planning to will a dignified life but rosemary are displaced and many more like her not talk about the great contributions of filipino building and making this city and country great without talking about what makes them struggle make the rights decisi

fanny may is instituting a new scoring model that looks more in depth and hope is that it will help morefy but again we're going to have to wait and see if this actually works out. that is an incredibly high fico to get a loan today. >> i wonder too if you're looking at two different scores the idea behind it being if you don't qualify on one maybe you qualify on the other but is there the chance that even if you do qualify on one the other disqualifies you so it's harder for borrowers. >> there are three credit agencies and they take an average of those scores and when you look at that the new idea of looking further into someone's credit history that fanny mae is now doing, they call it trended model. that's going to help for those self-employed or something like that but they're looking for that score and they're such sticklers on this. i've seen them fall apart over 5 points. >> that sounds high for medium, doesn't it? 720. 720 is pretty good, isn't it? >> it's very high. >> there's still a problem. >> 720 is pretty good but 760 will get you the best rates. when we talk about the bes

there is a table pounding, crazy that you got something called fannie and freddie, government-backed,people who were disadvantaged, access to decent saved affordable housing. that is as detailed as it gets. >> people do know rents going up in the city, they know it is harder to get a mortgage or don't have the income or ability to support a down payment, kids are living in their basements rather isn't being on their own in the market. but i don't see those issues in housing terms being in the debate. do you think there will be other issues that are proxy for economic and security? >> as tim said, some of the candidates running on both sides of the party for president, not all of them have a chance. i am not making labels. as they tell you, what goes on around the country, what ever the town hall meetings, no one says what the about fannie mae and freddie mac and what those institutions. to your point, you are not doing a good enough job bringing housing is the forefront of their issues, i serve on the to weather a foundation bipartisan and the past is to get the candidates thinking ab

this was where i first learned that he had a wife named fannie gordon, and you see, i also learned for the first time about daniel murray. daniel murray was the first african american assistant librarian of congress, and he had been preparing a monumental but never published biographical encyclopedia of the colored race, prominent african americans up to his time, and he included paul jennings among them because he was familiar with his having authored "a colored man's reminiscences of james madison". and in 1901 he had interviewed paul jennings' only surviving child at that point, franklin jennings, and he had put together some notes. so i got to see both on microfilm some of the notes that murray had put together as well as this opening page of this, this manuscript "paul jennings and his times". and what was interesting and what is kind of part and parcel of research so often is that according to murray, franklin had said that his mother was lady's maid to the sister of general, eventually president zachary taylor. well, i knew that wasn't possible because i was familiar with the ta

bottom line is 3400 fannies are going to fill these seats. i didn't realize that going into this. 3400 -- people! besides millions watching. i'm calm. all right. but ahead of this. always get drama on the day of, right? this struck me as a little interesting. i want to raise it with my two special guests here. al gore is not ready to endorse hillary clinton. he says it's way too early. telling "people" magazine, in my opinion to endorse a candidate or to even pick a candidate, so if people were expecting he is going to make a move and instantly support the presumed democratic nominee. it ain't happening. chris starr is joining me and this guy, pat goodell, what do you think of that? >> i think he's waiting for the call. he didn't have this problem when he ran in 2000, about early endorsement. i guess he's become more of a -- >> is there a little bad blood there? >> there's always bad blood, because the clintons believe that al gore's refusal to endorse clinton's election is what cost them the election. there's hurt feelings there, and it's politics, so the egos are ridiculous. >>

government started to take equity stakes, and fannie mae grad rubling the size of its balance sheet. what do you think? >> it is. american public realizing that when government picks winners and losers, we all lose. we're spin our way to a bigger crisis, and sell ourselves to china. people will start waking up to this. more and more are starting to sound the alarm. >> just one point. republican mishandle that issue about bailout, they have to tell american people we'll never do bailouts again, i garcetti anti-- guarantee, hillary will come out of republicans as bailout party. >> she did sign on to them. >> breaking news, involving hillary clinton. fbi expanding hillary clinton e-mail probe, looking at possible violation, wait for it watch this, about fall statements right now, a possible cover-up, that is what fbi is investigating. we'll discuss that when we come back. o be all in. it's not about yappin'. it's not about talking. it's about doing. i know how to do this because i was privileged to serve in florida for eight years. and we turned the systems upside down that weren't work

it sounds a lot like what we have in housing with fannie mae and freddie mac.. that is exactly what a lot of people said. this is making money for the government. we had to bail out fannie mae and freddie mac. i am very skeptical of this idea. i think you getting another government-sponsored enterprise. taxpayers are on the hook. i want to bring up an article that you wrote. how do we raise the grievance organization? that caught my attention. you are comparing the millennium protesters. you do not think much, do you? >> i have visited diverse six, seven campuses. the locals there are a grievance generation. this is generation used to say, this generation believes they have some kind of constitutional rights. it is very troubling to me. a university should be places where you have total free speech. the free exchange of ideas. that does not exist anymore. now they are saying, if you violate the code, you have to go to sensitivity training. >> would you change that grievance culture if we were to have four or 5% growth? make some money, get out there. >> i am no

think greek bonds and freddie and fannie.how can that lower systemic risk if we only have one centralized view of risk and it may be wrong? >> well, i guess i would dispute a the idea that we have one centralized view of risk. the purpose of this exercise is to help the firms develop their own analytic capability to model the impact of various stresses on their organization and to develop a robust capital planning process which is what we evaluate in our ccar. >> i wish we could conclude the same thing, but we have insufficient information about your stress test to be able to come to the same conclusion that you have. >> i recognize the ranking member for five minutes. >> thank you very much. i'm pleased to see you, chair yellen. and unlike the chairman, along with many of my colleague, we've heard from regional banks about the comprehensive capital analysis and review or ccar stress tests. and they have complained that they're not sufficiently calibrated to the unique profile of large bank holding companies. they're focused

lehman and fannie and freddie and all those things that were about to happen, i remember how sobering the call was. you spoke to us outlining the problem and the secretary got on the phone and said we need legislation. my recollection was that he said it would be a three or four page bill and we need you to pass it immediately. one of the things i do in hard notes as i make up, i write reasons to be for an against. i remember writing at the top of the page, best vote i'll ever cast, worst political vote i'll ever cast. it was painful and nobody wanted to because i'm not a wall street guy, nor do i think are you, but i also i also knew what was best for my country. if you recall, republicans opposed it in the house and the stock market dropped 700 points and we went back and fixed it. >> i remember that all very well. >> i know you remember and you write about it in detail. from the time what you did with tarp and what came after was of much importance. but then in your book, i want to go to the next step is i think the conversation i watched talk a lot about the lehman brothers and th

the house pass add plan to cap the total compensation of fannie mae and freddie mac ceos to 600,000 aear. the government rescued the two companies with a $170 billion taxpayer bailout at the height of the financial crisis back in 2008. >>> two fantasy sports companies head to court next week as they fight to stay operational in the state of new york. a new york judge has den identified fanduel and draft kings' request to block an order from the state's attorney general to shut them down. the ag says their operations amount to illegal gambling. >>> the department of justice has reached a $95.5 million settlement with education management corporation. the firm runs for profit colleges and trade schools. the settlement resolves allegations that the pittsburgh- based company used deceptive recruiting practices to enroll students it knew were unlikely to finish its program. >>> 6:25 now. still ahead the government has approved the sale of more than a billion dollars worth of smart bombs to the middle east. >> the man linked to the disappearance and murders of the lyon sisters is due in cou

you work your fanny off. all of you work hard. we're gonna operate like a family. >> how soon?rrow sounds good. >> [laughs] >> i'm ready. >> i've been ready. [laughter] >> it's time to clear out the small-margin generic items from the store. the pies come with a huge 80% to 90% margin, but the retail stuff, it drags along a 20% to 25% margin, and so every square foot that we utilize to sell low-margin product isn't gonna help us make money. what i need to do is to convert that space into faster-moving products like pies. so here's what we need to do, box it up and get it out. >> all right, box it up, get it out. >> yup. >> no, we haven't made a final decision on that. have you done your demographics on people who want to come in and get slushies and pie bars and key lime soda? >> i'm gonna get you whatever you need for amnesia. remember what i said, if we don't make it, we're not selling it. we all agreed on that. >> tami, you don't think people should have opportunity to buy these things? >> not here. it's all this same [bleep] that they have everywhere. >> i don't, uh--i don'

you just have to market your fanny off. >> okay.na's product is fantastic, so this was an easy decision to make. i've already invested millions in the health food space, and i think her product has a lot of potential and could lead the pack. >> thank you. >> okay. >> can i hug you again? >> yep. >> [laughs] thank you so much. >> okay? >> it's amazing, thank you. >> all right. >> what happened to my offer? >> i don't believe in singular use facilities. you cannot make a standalone group session training model work in the long run. i don't think it's possible. it doesn't mean that i didn't have a good workout. it's just an economic thing. so my offer is the following. i'm willing to put up $250,000, but it's contingent on this business moving to a training facility that also has other disciplines inside of it so that we don't have to be so singular. >> but i'm on the lease for another three years, marcus. >> i know, and you have to really figure out a way to get out of the lease, because i want to move to a bigger place at a better lo

and so i'm gonna bust everybody's fanny to make sure that we're successful.o, when we go through this process, i'm 100% in charge. what i say goes. and so, we're gonna look at people, process, and product. i think the process is broken. when i find out that you guys are taking money out of your own pockets to make sure there's fish there, that's a broken process. when i found out that customers want prepared foods and we don't have them, that's a broken process. and so we obviously want to study this case, study the square footage, and figure out ways to make every square inch of this place more profitable. in swansons fish market, their cases make up 54 square feet of space -- 18x3. i now believe that i can take 54 square feet of space and double the revenue. the prepared foods have a 60% margin, versus the fresh fish at 30%, and so i know that if i can take the products that are in the current case and cook it, grill it, boil it, season it -- do all the things to it -- and make them prepared foods, we can go from doing $150,000 a month in sales to well over

the third phase was from september on with the failure of fannie and freddie, lee man brothers, aig and more. and the way i think of it is that -- actually my boss haung paulson, he had a saying that i think is instruct tif. people would say it must be really tough to the this, to bail out this company or take this action to invest you know $350 billion of taxpayer money in banks -- $250 billion in tax free money no banks and his response was it's not a hard decision, it's just an unpleasant one. he said, look, it's the right thing to do. i know it has to be done. i don't like doing it but it has to be done. and i think that was the approach. you know, i suspect that sort of approach would apply for president bush as well. that he had a set of core beliefs that i think mark will talk more about. but addressing a crisis, he's a very pragmatic man and a very pragmatic administration. i was look at the work done as following that script. to me what's fascinating is the new administration starting in january of 2009 really continued the work. the tarp continued with superficial changes. the

under republicans and democrats alike fannie mae and freddie mac.ther and said homeownership is part of the american dream, let's create a bubble and ghost stepped in our president george w. bush, banks are told to byter banks. to take money. bill: that's fair and balanced answer. but she started off, september of 1999. that's when congress passed the laws or the bill that was signed into law by president clinton. that was the beginning of all that. every american has the dream to own their own home. what did we find out during the collapse? that some people are renters and not buyers. because they did not have the resources to gift access to the loans the banks were giving out so easily. >> we created the atmosphere and the mosthe mo during s operandi. by the time you left the closing your mortgage was sold to a secondary market. it was all a fictitious thing and it was bundled and sold again. >> fiorina was right by the happening even perhaps to a greater extent under bush. >> it was dodd-fringe asleep at the switch in congress. >> the idea that b

a storm forming a was a more to the east dry weather here for thanksgiving with candid and of the fannie on whether traffic in top stories >>mark: stay connected with our kron 4 mobile app,kron4.com,facebook,and twitter feeds.dr phil coming up next have a great day see you tommorow at 4am--7am >> announcer: today on an all-new "dr. phil." >> the next time i see my parents, i hope it's when one of them is dying. >> announcer: he's out of their house. >> dr. phil: your plan is to be a model. how did the go fund me page work? >> i didn't raise any money >> announcer: now he wants them out of his life. >> i want the world to know the abuse that they put me through. >> what kind of abuse? >> i don't know. the dozens of times you choked me with a cord in the bathroom -- >> you're lying. >> i never choked you in the bathroom. >> you did the abuse. >> i pushed microwave off the counter. >> they never happened. >> that's exactly what happened. >> dr. phil: whoa, whoa. somebody tell me the truth. >> when they get into a disagreement, it turns into a screaming match. >> dr. phil: let's do it! >> ha

wall street -- it's confusing people got loan and way top money fannie mae and freddie mac that stuff. >> and sadness there's laughter. >> the headline here rosanna got to meet a very famous person. >> that's it. in other news, u2 rescheduled two after the deadly attacks on november 13th. >> this is in concert and bono said they took music, piece of aen try to serve when we return for the postponed shows. theyoriginally set to play, and instead the sixth, seventh and hbo broadcasting that second >> thank you very much. >> see you later. this person we're going to acknowledge him on facebook right now. thengs on >> from fox 5 news, this is "good day new york." >> hi, everybody. let's see. it's tuesday. two days to thanksgiving. hi, i'm greg kelly. neil: >> i'm rosanna scotto. good to have you with us. it is cold out there. temperatures to reach about 50. tomorrow things look different. thanksgiving, warming up. >> obviously i'm excited. >> you're doing gobble, gobble talk. >> the week is kind of relaxed however if you're traveling that is another issue. if you're traveling internationa