it was not freddie and fannie.eir mission was to control, or as we would at the consumer finance board protect the investments of america. industries to bailout, and i will specifically speak to washington, d.c. because i literally watched that city blow the heck up. -- $5,00000 to buildings to $40,000 buildings. they had to put a coat of paint on the building. then up to $200,000. you cannot find, and i will challenge you and your audience and your previous comrade to find a house in washington, d.c. under $300,000. it would be very difficult outside of a shell defined a structure in washington, d.c. that is not a realistic price. that is fraud. the mission of freddie and fannie was to defend that fraud. i'm not a socialist but i'm saying the idea it was freddie and fannie's fault -- it was not. it was the greed of the capitalist system that allowed and where the lady at walmart just visited house and she was a walmart clerk and got a $1 million loan. they were able to flip that mortgage under freddie and fannie b

vonnie: fares a of fannie mae and freddie mac up. is -- freddie joining us is mark calabria. expecting nextbe month from an fha and a treasury agreement? mark: we are working on a letter agreement. at 3 billion.ps wewill still be limited, but are looking for a number that will get us through the next year and a half or two years. after that, we will reach an agreement to the underlying share agreement. is not when you said it calendar driven, do you anticipate within a year that fannie and freddie will be out of government control? vonnie: it depends on how quickly they raise capital -- mark: it remains -- it depends on how quickly they raise capital. they will be responsible for building capital and hitting goal posts. what we will be doing to the share agreement amendments is setting up mile marker's for fannie and freddie to hit. that will be the ones that drive down that road. vonnie: how much capital will this letter agreement authorized to retain? mark: probably enough that we'll get them through a year and a half or two years.

fanny would draw on - - dress up as a man and then he will not marry fanny white takes her to the assembly and introduces her to the colleagues and that was what their opinion must have been. with the upper the mobile politician so fanny white finds out goes and finds sickles and bull lips him. for thank you for asking about fanny it was a lot of fun to write about her a very unique figure in american history. anymore questions? thank you for being here. [applause] >> it is a question of how much do you really trust god if you think god is limited to the two-party system. that is a small guide he cannot unless you vote for the republican? that is tempting but dangerous and contributes to keeping a system in place that takes accountability out of the system and is an easy way to bring in evangelical that's about the worst possible way elaine white is the author of this book, it's called the women's power. ms. white, nashville augus >> august 1920 nashville. it was bedlam. a sleek southern city in the middle of summer the legislature is usually in recess. it is a time when you drink tea and

secretary mnuchin said to do that will require some kind of payment from fannie and freddie.takes all but $3 billion from each's profit. >> i think they need a lot of capital. let me just say. you know, we're looking at $3 billion and each is irresponsible in the terms of capital and there's no way that they could operate if they couldn't draw on the treasury lines which, in effect, is backstop today. >> reporter: giving fannie and freddie back secretary mnuchin suggested they need $100 billion in reserves. how do you get there that's between secretary mnuchin and fhfa director calabria. >> thank you very much and for more now on what's next for fannie and freddie, current chairman and ceo of eagle rock capital management welcome back. >> thank you. >> talked to you a lot about bonds and distressed debt in puerto rico. now, let's talk housing finance, which you have a long history with how much capital do these two need and could the private market supply it >> the amount of capital they need is the subject of current discussion, as you heard the secretary testify to yesterda

freddie mac and fannie mae are allowed to hold $3 billion of capital apiece.agrees if they run into problems like 2008, that would be totally inadequate, wiped out almost immediately. are taking the steps of letting them retain quarterly earnings until anddie gets to $20 billion fannie mae gets to $25 billion. based on the current earnings profile, it will take the companies may be a little more than a year. then we will see what happens. still not enough capital for them to be private companies, so you are looking at something like an ipo, maybe some other form of raising money to boost capital buffers. but this is going to be a long and winding road. kevin: a month ago there was chatter in the wall street world about whether there would be a slowdown or recession. headwindsk at those about the future, next 15 months, what impact does that have on the trump administration from moving forward on fannie mae and freddie mac? jesse: the problem with fannie and freddie is that no one really quite knows what the impact would be on mortgage rates. shery: [laughter]

i will say this, though, as you know and as most people know, fannie and freddie -- the excesses of fannie and freddie is one of the reasons we had a mortgage crisis back in the day. this plan takes a few steps towards making sure that that doesn't happen again, where these -- and to these blow up where the government has to take them over because by the way they were created by congress. if the government didn't take them over, given the fact that their debt is considered -- to treasury debt. people might have started selling our treasury bonds during a financial crisis. you don't want that. this takes a couple steps to ensuring that maybe fannie and freddie have enough wherewithal to withstand a financial crisis like 2008 through the building of capital. but there's a lot of details here. this is a political situation, david, because as you know, housing is a big thing. we have an election coming up. you don't want to do anything to the housing market that will hurt housing price or increase costs to consumers. the treasury department is walking a fine line. some interesting things here

the director of the federal housing finance agency who serves as the regulator and conservator of fannie mae and freddie mac. i want to thank each of you for coming to the committee this morning. last friday marked 11 since the government bailed out and put fannie mae and freddie mac into conservatorship, where they remain today. prior to 2008, the government-sponsored enterprises held a 45 cents in capital for every $100 in mortgages they guaranteed. now just 19 cents after a historic 200 billion-dollar bailout from taxpayers. 11 years later they continue to be too big to fail and are even more leverage than they were before the financial crisis and taxpayers inevitably remain on the hook to developing for administrative and legislative reform of the federal housing finance system many of the legislative recommendations in the plans that were released on thursday or consistent with my off-line in the system including attracting private capital back into the market as well as preserving certain incremental reforms that have already taken place during the conservatorship including a robus

by the way, they call themselves fannie-gate.e the government was essentially screwing them over, stealing all of fannie mae's profits, that fannie mae and freddie mac didn't have to go into receivership. i think bill ackman owns both the common and preferred. i'm not saying hel's part of tht fannie-gate. liz: you can play these swings. that's what some investors have done. >> they made a few bucks. these shares traded as low as $1.50 not too long ago. they have been up all year. the notion they were going to go through the roof on this plan, it was going to be a massive recapitalization, that the government was going to forgive every debt of fannie mae, they were going to leave conservatorship like yesterday and start building up capital, this plan did not say that. we should point out that shares of fannie and freddie are off their lows today, so they are up a little bit today. liz: in the commercial break they were down 9% and change. now 8.5%. >> they were down 12% earlier in the day on the initial news. here's the thing. wha

last friday marked 11 years since the government bailed out and put fannie mae and freddie mac in the conservatorship, where they remain today. prior to 2008, the two government-sponsored enterprises helped 45 cents in capital for every $100 in mortgages they guaranteed. now, they hold just 19 cents. after a historic 200 billion-dollar bailout from the taxpayers. 11 years later, the systemically important companies continue to be too big to fail and are even more leverage than they were before the financial crisis, and taxpayers inevitably remain on the hook in the event of a mixed market downturn. in march, president trump signed a presidential memorandum directing department of treasury and housing and urban development to develop a plan for administrative and legislative reform of the federal housing finance system. many of the legislative recommendations in the plans that were released on thursday are consistent with my outline to fix our housing finance system including attracted attracting capital, protecting against future bailouts and promoting competition. as well as preservi

i'm frustrated there were 11 years later still have fannie and freddie conservative ship. and this is not a safe situation to be in. but i commit to you we will work as fast as we can to turn the ship around. >> any other? >> i would say, at fha, delinquency rates that default at the lowest rate that they have been. changes have been made and we recognize what happened before with the manipulation of debt to income ratios and credit scoring possibilities. and here is a key factor. putting people in a home that they cannot afford does not do them a favor. if they lose the home, they lose their credit, future possibility. that is plain into what is going on today. for instance the minority community particularly in african communit community, becr credit is ruined. in some of the cases people who had good credit before. were looking at that to see how we can help with that situation but we want to make sure we learn from those things and we have made substantial progress. >> i want to share that all 15 counties of arizona my first 90 days in affordable housing the one associ

-- fannie mae and freddie mac. it marks 11 years since the government bailed out and put those where they remain today. prior to 2008 the government- sponsored enterprises held $.45 in capital for every 100 in capital for every $100 in mortgages guaranteed. now they hold just $.19 after a $200 bailout from taxpayers. 11 years later these systemically important companies continue to be too big to fail and are more leverage than they were before the financial crisis. taxpayers inevitably remain on the hook for the next market downturn. in march pres. trump signed a memorandum directing the department of treasury and urban development to develop a plan for administrative and legislative perform of the housing finance system. many of the recommendations and the plans released on thursday are consistent with my outline to fix the finance housing system including attracting private-- protecting taxpayers against future bailout and promoting competition as well as preserving certain incremental reforms that have already t

and good news for fannie and freddie.ven mnuchin says a deal to allow them to keep some earnings is in the works. great britishh a pound, because it is pretty since strongest level july. boris johnson struck a rather -- on tone on xi jinping brexit, addressing one of the key sticking point standing in the way of a deal. went minister johnson: we to the border several times before the good friday judgment, and i can say now, as i said many times before, the u.k. will never ever institute checks at the border. caroline: joining us for now with more analysis is the president of an institute. >> caroline, i think part of it is that the consumer in the u.k. is buying stuff now of there being a weaker pound and restrictions on what they can buy, and similarly, people who are buying experts -- exports in the u.k. are doing this ahead of upcoming problems. i think that is a can tripping factor. the government has, her majesty's government, has committed to loosening, and while the cash is not there yet, i think people are expecti

second to restore fanny and freddie to safe and sound condition by building capital. building capital would begin the process to end the conservatorships which has lasted by 11 years. the longest bank conservatorship was 18 months. a root cause of the 2008 crisis was lending backed by insufficient capital. this remains unresolved today. average credit stores have modestly improved, the enterprise's share of low down payment and high debt to income mortgages are back to their 2004 levels. fuelling rapidly rising house prices with easy mortgage credit is a mistake and it will end in disaster. in the current financial condition, the enterprises are not equipped to sustain a downturn in the housing market. with just $6 billion in allowable capital, the enterprises approach a combined ratio of nearly 1,000 to 1. in comparison, our nation's largest financial institutions have a leverage ratio of 10 to 1. the most recent test for the gses illustrate this example. in the last crisis, housing prices declined by 27%. the model is a 25% deadlicline. given that the housing supply

david: we will come back to fannie and freddie. i want to take a moment to say the markets are trying to sort through this. it appeared the price of oil moved down decidedly, particularly wti, as soon as the news came out, which might underscore the possibility this could affect the iran sanctions. if there is more oil, the price goes down. we wonder whether this might affect the iranian situation. kevin: exactly. last week when i interviewed brian hoke, who was the advisor to mike pompeo, he said oil and the oil markets is something .ncredibly important to them with regards to oil, what i can is somethinghat the administration has consistently said is on their radar. you are saying that in the market reaction about just how significant of a role these geopolitical events play. david: it is too soon to know who will be the replacement for mr. bolton, at the same time we can think about who are the other advisors around the president who might come to the fore. mike pompeo seems to have a close relationship with the president. does

we're going to talk about trade, the fed, fannie and freddy, reform, fannie mae and freddy reform, theeration of a plan, certainly out of the treasury this morning, about housing finance and housing reform. we'll talk about fannie mae and freddie mac. and the founder of papa john's pizza speaking out this morning exclusively to me in his first interview since being pushed out of the company that he founded. john bar a aso is here talking about peace talks with afghanistan, niles gardner is here talking brexit and senior judicial analyst judge andrew napolitano on big tech's anti-trust suit and doug collins on the upcoming inspector general report as well as the new move out of the judiciary to try to define impeachment. all that coming up this morning right here. markets of course pointing to a gain at the start of trading. futures up 63 points on the dow, s&p is up 8 and nasdaq's up 21. we had new data about the chinese economy showing signs of weakness. august exports to the united states took a hit, down 16% to $44.4 billion. this is a clear sign that trade tensions with the united

housing market fannie mae and freddie mac. . sure let's start out by explaining who they are they're both government sponsored entities which means that they're somewhat private operating under the auspices of the federal housing finance agency and what they do simply is fannie mae buys mortgages from commercial banks pretty mad buys mortgages from thrifts they securitize them into mortgage backed securities and they sell them to the market and that's a wonderful thing it's quite profitable and the government has done quite well since 2008 with this model the situation is that if you privatized certain mortgages that would be available consumer to consumers may not be there and they may shift the landscape of the mortgage backed securities market but it may also do and this is what regulators and consumer advocates are very very concerned about we may revert back to a situation of 2008 where if there is a less government intervention and oversight we may have a situation where subprime were non-conforming loans are sold as part

we want to talk i little bit more about this now with someone who used to run fannie mae it's great to have you here 37 what's significant about this announcement >> i think that's significant about it is that it's obviously been 11 years in the making but this is a really positive step forward in terms of getting to an ultimate resolution this plan would reserve the 30 year fixed rate mortgage it would put lots of private capital in frnt of taxpay-- fro taxpayer exposure. if executed well, this would avoid a significant disruption of housing markets those would all be good outcomes. >> that said, in fact, some of the reasons you're citing have people, investors in this market saying this plan doesn't change that much. i'll read you some quotes here the scope and intention are ground while details are sketchy. it's not clear this is a real privatization and it would indicate as much intrusion as the previous system and existing ones. >> i would say this really builds on discussions that have been going on now for six, seven, eight years this is not inconsistent with the overall approac

points, theof fannie and freddie of 2019 are not the fannie and freddie of 2007. there have been serious and substantive reforms that have taken place. we are talking about different creatures. here i'm really talking about the director and treasury secretary are committed to taking tangible steps. the next step will be capital retention. beyond that we are going to have to see where the conversation i goes -- conversation goes. we have to keep in mind, housing is 15% of gdp. >> the process is a long time coming, 10 years now. york, this is bloomberg. right to our political panel, general motors has been doing the best. president of accountable you -- accountable new york. saying, they get hit with a strike. how could this read? what position are they going to take? >> the democrats are going to take a stand strong on the side of labor. they are going to stand firmly for fair wages, competitive benefits and a retirement security for workers. >> gm has an offer that is pretty generous. don't, theions workers don't. democrats are going to stand firmly with workers.

fannie was up 20 something percent yesterday. >> yes >> and there is the room, i'm told, where mr. will be. >> the long awaited revival has reg like come back -- >> it may be the government can stop the sweep, which aparentally they're very much poised to do prior to the end of the year. however, to actually remake the fannie and freddie, and return them to private markets and they would need legislation which is hard to imagine anything will get past in the next -- before the election. >> yes, it does. a lot of individuals still are -- they play lottery tickets. >> yes >> we have to assume competition in the fast food space wendy's back into breakfast, downgrade out of guggenheim on the heels of that saying it adds risk to the shares mcdonald's buys a small voice tech company and is forming what they're calling mcd tech labs in silicon valley to help them leverage ai and digital tech. >> voice is the new thing. i got to meet some young people as part of a comcast venture and two companies involved with voice. and live person involved with voice and voice is important i think that'

fannie and freddie, if we want to get into this a little bit, fannie and freddie because they went soying loans off the books, because government wanted policy that everybody should own a home, they really did make housing prices go through the roof. neil: then argue they emboldened bubble? >> not only argue -- neil: they dodged a bullet and reprimand and punishments almost everyone had to endure. >> yes. listen there are a lot of conservatives say fannie and freddie should remain part of government. if you will have a government policy making 30-year mortgages for everybody, let the government totally own it. don't make these quasi-public companies that trade stock. when you're a public company, think about it this way, your goal is to maximize returns and take risk. when you're a government entity, our goal is not take risk, maximize concerns, protect taxpayer. you can't have those two. this will be really interesting. it is politically fraught. if they do something radical, totally priced advertise them, my guess less loans will be made by fannie and freddie. they will not be able

vonnie: i spoke with the fhfa director earlier this month and asked him about when fannie and freddiee private capital. let's have a listen to his answer. >> the first thing i think we need to do is start to retake capital, and we will have to have a number of months of retaining earnings to show the track record and that cushion before they can go to market. again, emphasizing process driven and calendar driven, the earliest you could see going to market would be fourth-quarter 2020, but 2021 is more likely the case. i do want to emphasize, a lot of things need to be done before we can get to that point. vonnie: it sounds like we still have a long ways to go, maybe even 2021 before this private capital raised. waterlly throwing cap up ash basically throwing water on the whole thing, saying capital is impossible to raise. jesse: there's optimism that the trump administration wants to do things with these companies. we kind of had a decade-long process of purgatory, and these companies, they are so volatile, you could even argue that a strong wind can push them around. every utterance

there is concern fannie and freddie could lead to more extensive mortgages.t is concern for the president going into 2020. if you already have signs of a slowing economy, that is not something you want going into an election year. david: we have to remember fannie and freddie are there to make mortgages cheaper. one of the costs we discovered in 2008 was they are cheaper, but that is because people are taking more risks. how can they keep the mortgages cheaper not take more risks? kailey: that is it exactly. because they dominate about half of the mortgage market, one of the treasury plans is to great more competition. the question is how long it will take to do that. david: thanks to kailey leinz. coming up, he spent more than four decades in the marine serving as a commander in the gulf war and the war in iraq. jim mattis then answered the call of duty to be defense secretary. ♪ devices are like doorways that could allow hackers into your home. and like all doors, they're safer when locked. that's why you need xfinity xfi. with the xfi gateway, devices conn

fannie and freddie have already paid over $110 billion more than they initially drew. do you feel they need to pay more to treasury >> you may recall under the december 2017 letter agreement that when the -- when their capital was raised to 3 billion the preference so the senior preferred treasury gap was raised by 3 billion and will likely keep a similar framework but do want to emphasize the secretary and i are still working on this. >> h much do you think they need to retain? 3 billion is not even the heari0 billion >> that's in the long run in which i should say the next couple of years. what this letter agreement will be by the end of the month should get us hopefully the next couple of years to give us some maneuvering room to get them this will set the path so, again this, is not going to be the end. this will be a further step. >> any rodblocks in these negotiations with the treasury secretary. >> not with the treasury secretary. of course, getting time is always a focus on it but we're making a lot of progress the secretary and i think very much see eye to eye

the trump administration unveiling its plan to privatize fannie mae and freddie mac.he two companies were bailed out by taxpayers after they nearly collapsed in the financial crisis. lauren: hillary vaughn is at the white house with the details. good morning, hillary. >> reporter: good morning, lauren and ashley. the treasury department along with the department of housing and urban development is recommending that the government release control of fannie mae and freddie mac after they turned into government sponsored enterprises following the housing crisis. right now, fannie and fed dry fe giving the government billions in revenue after the bailout. now the government has a plan to restrict future bailouts. there is no timetable for them to exit conservatorship. this official saying it could be through a public or private placement. treasury officials also say changes could be made to fannie and freddy's net worth sweep. right now, all their profits go to the federal government but that could change. however, there are no details yet on how much. treasury is submitt

fanny reached out to me, she helped me find my first apartment. it didn't happen, she knew somebody was looking for a roommate. i was able to get a roommate on capitol hill. that went along fine until i got mugged coming home late from work. as you know, daily newspapers, at the washington post. i needed another home. fanny found somebody else, a family they wanted to rent and that turned out to be a wonderful solution and the black community helped as well. i was fortunate the things that i have learned, people i had met in the black press became part of the support structure but i also had a city editor who wanted me to succeed. the first black reporter had been at the post ten years before and he could only take it for a year. he was becoming neurotic. i'm trying to work in a place where even the dog cemeteries are segregated. he understood my challenges. then gilbert wanted to succeed, he reached out, he invited me to:00 failed party at his home. my husband and i. i met his wife and she would later reach out to our children. those kinds of spe

week could the sudden spike help the housing market i'm joined by doug duncan, chief economist at fannie mae. >> low rates and they dropped so quickly over the last six months or so or a year, have helped the finance market but not done a ton for the housing market overall. could this cause people i better jump in now before rates keep climbing. >> you're right to divide it between refinancing and purchasing refinance is an execution of an option on interest rate differentials. you can do that without moving your family. it's a bigger issue to buy a house because then you're going to move your family and your household, so that action tends to be slower if you were at the margin of making that decision, it's a good chance to jump now. so people who were -- who had gone through the process of finding a house, finding a mortgage that they like, a lot of them will have locked in an interest rate and jumped. >> so what do you see happening with the market as we get into the fall, because anecdotally, there's a lot of talk about inventory coming on the market, maybe a little bit of a delay, i

we anticipate hearing more about fannie and freddie throughout the afternoon.low along on your bloomberg at live . bloomberg businessweek is continuing its study of the top mba programs. carol massar and jason kelly join us from new york. with them, the graduate business school's dean. : we are at columbia business school all day. the 16th dean of columbia business school has been a longtime professor and also an award-winning scholar. >> we are so happy to be here with you. we have some of your students. it is sort of like college game day for business school. far inve you learned so the top job? >> thank you for taking the time to come and visit us. it is great to have you here. i look forward to having a new campus in two years when we moved there. a few things to say. i have been embraced with a lot of enthusiasm from my colleagues, and we are actually working on interesting initiatives at the school, both to improve and change education, and also to talk to business leaders that have been flocking in to meet the new dean and see how they can be involve

neil: community rye investment act. >> was more than that andrew cuomo as hud secretary pushing fanniereddie to dive buying up subprime loans. think about that. neil: can i switch gears with you, thoughts on the john bolton thing? two different interpretations. we'll sort out that drama later. but are you hearing that this upheaval at the white house is short-lived thing, just continuation? many can look at this, say well, we didn't like, spartan, in your face foreign policy approach of a john bolton and this might show a more measured president going forward? >> i never was quite sure why trump picked him. if you know john he is much more of an interventionist. he is not about reducing footprint globally. he is not a nationalist like donald trump. it never struck me, he is very smart guy, intellect part but he never struck mow as someone in tune with the president. i think one of the negatives about this, it feeds the i guess the notion this is a white house totally in disarray. that he can't hold on to people. everybody is at each other's throats. particularly one area. that is not g

mae and freddie mac, but he did make it clear that fannie and freddie need a government backstop paid by private capital and they also need to be recapitalized. currently, they each retain $3 billion in capital, but secretary mnuchin said they would need a lot more. >> if i were to give you a range of a number of, it's more like $100 billion than it is $6 billion. >> and the treasury secretary also reacted to the court ruling friday saying the treasury sweep of all fannie and freddie profits was illegal. he said, they may appeal that to the supreme court. back to you guys >> all right thank you very much, diana olick. and thank you for watching "power lunch." >> a busy hour it has been thank you very much. and "closing bell" starts right now. >>> welcome to the "closing bell"! i'm here at the jpmorgan post. that stock up 0.8% today, over 3% in two trading sessions we've got the constructive comments from chairman and ceo jamie dimon coming up. broader markets, though, lower, down 0.4% on the s&p 59 minutes left of trade >> and i'm morgan brennan in for sara eisen let's look at what is

fannie and fred key move -- freddie moving higher right now.sdaq up 146. coming up, dairy farmers not up, they are down, grappling with the trump trade war, walking the tight rope of government aid and pressures on one of their biggest partners. we go straight to the heartland to speak exclusively with former agriculture secretary tom vilsack who just got back from a trip to china. he's going to tell us what he's seeing there but also what he's hearing from farmers he knows here. and this week's edition of everyone talks to liz, my podcast, this woman on your screen, she is a fox news contributor. her name is donna brazile, right? yeah, she's a democrat. she worked with al gore and jimmy carter, and she's run the dnc. but guess what? she loves working at fox. you've got to hear why. i spoke with her about that and her climb, fighting tooth and nail all the way up from the bayou in louisiana, her dad was a janitor, her mom was a housekeeper. she made it all the way to top of politics. it's a great and amazing story. check it out, apple, google p

steven mnuchin unveiling a plan that would re-privatize fannie mae and freddie mac. it was back during the bush administration that the republican part of that $190 billion bailout from taxpayers issued a conservatorship for fannie mae and freddie mac. as of now, they make up about half of the mortgages in the $11 trillion mortgage market. it is a long shot to get them privatized. even behind the scenes, talking to sources this morning, republican saying something they would like to see happen, but with the divided government and heading into an election year, the plausibility of this getting over the finish line remains a challenge to say the least. also presentrdles some opportunities for hedge funds. that would mean they would be able to invest in this type of market. the administration says they want to see more competition in the mortgage market as well. it is a benchmark, it is a long way to go, but a long-awaited unveiling from the treasury department. david: it is a process. you have to start somewhere. many thanks to kevin cirilli. let's go to detroit. i was

a mention on the 4th and click on the photo that was missing in that little number that mr ramos fanny's at the last dragon was 100 called the hard truth. we've got on. alexander for that and so himself as an adventurer he really.

this it's not a fanny project. i've heard it numerous times. this president has delivered to the experts to the border patrol, to the leadership. ask what they need it. one of the key things that they said they need it, was the wall. this is noticeable that is being just built right now. it is the wall system. access roads in technology and lighting. when asked the leadership, universally has said the wall works. it's been used in the past, history shown the numbers go down. fact in history show that. we have been staying for a very long time that experts have been staying when they were asked buy the president, this bowl is absolutely need it to safeguard and secure our southern border. part of it but we have been staying, and a multilayered approach. infrastructure and personnel, where that is unlimited and effective and strategic location, it works. the exports say it works. the exports say and have been asking for this. this president and this ministration has delivered and they were continuing to deliver. as we stated from the beginning, t

fannie and freddie mac headline.oost their capital by billions of dollars to protect against potential losses. this is a key step by the white house to push to free those mortgage giants from u.s. control. all of their profit went back to the government and now they can keep more money to themselves. that frees up their business. the other one we were just talking about, the revolving door of ceos. martin emmrich's will be -- tz will be succeeding the current ceo. she was a chairman of february this year until now. she will be taking as ceo of thyssenkrupp. two ceos in just the last couple of years. ceo.g up, petroleum the sea of western refining is up in today's bottom line. interact with the charts shown using gtv . check it out, save the charts, gtv . ♪ todaya: coming up later on "bloomberg markets," steven wieting, citigroup chief investment strategist. now dear bloomberg business flash. another big name has fallen in the retail apocalypse. fashion chain forever 21 filing for bankruptcy protection. liabil

at the bottom of the fannies at the last dragon that's what i call the heart through used. books on. more of those stunts coming up in just a moment welcome to your mags and if you're wondering why i'm dressed like a stereotypical bavarian it's that time of the year again in germany is what.

the bottom of the fannies at the dragon this $100.00. 3. degrees book. and i'm going to go to ground news w from the bottom of its personal device it's about topics that affect us old daughter lucia climate change and return. only 3 things check out. china opens the world's largest single trouble airport signals of the rest of the world that beijing still has global ambitions despite its economic hard times. and how much does that bottle of french wine cost more than you might expect we'll look at human trafficking accusations in french wine fields. this is your business report i'm stephen birds in berlin thanks for watching. china officially open the doors to its mega airport on wednesday beijing dashing cost $63000000000.00 and needed just under 5 years to build it's designed to handle $72000000.00 passengers annually an impressive feats were demonstration of light from a country otherwise facing difficult. shaped like a giant starfish beijing dossing international airport took just 4 years to build and cost $60000000000.00 euros it's already the world

the bottom of the fannies at the nasa dragon those words called the hard truth. to agree books. on mccarthy. and i'm getting close to the brand new w from barney's book explosive device it's about topics that affect us all want to solution for climate change and return. only 3 things to check out. on this edition of world stories. northern iraq recovering from war. madagascar a tallit is for measles but we start out in bangladesh where over a 1000000 will hinge are living in refugee camps they're not allowed to work so they live in abject poverty making the women easy prey for the sex trade. in the world's largest refugee camp in bangladesh life for women and children is particularly difficult. this woman fled from me and ma with her 3 children and husband after their village was burnt down 2 years ago. my husband left me and my children after we came here and it was difficult for me to make ends meet . i didn't have any other option and i want. any other option that is going to work as a prostitute now when she gets the cool she travels to the neighboring towns outside of their

the biggest move involving pretty mac and fannie mae. both of those agencies. the administration wants to move away from that to make fannie and freddie separate entities without public funding. liz: you have got a lot of news coming out of d.c. this all happening as we have more trump wing. china losing out big time. chinese imports of technology products from china dropped by $20 billion year to date. imports to the u.s. from other countries rocketed higher. we are talking indonesia, israel, the european union and the pacific rim. david, are we missing something? could trump be right here? how come the media isn't reporting that information? >> i think there is so much uncertainty around how it's going to play out. we know why some of the meade media are reporting it the way they are. there is an agenda and we understand that and anything that could make trump look good they don't want to cover. the president has not been totally clear how he mess acknowledged his after he general today. there were times when he said it's a basic fact that we buy more than we

the small old almost missed him in that the can them by litter other at miss the boat on the the fanny's at the nason dragons and that's where the heard as you called the harm doughtery news ditto greengrocer on manto to big i'm not off think out of the jet wild i just sometimes lamb but i stand up in which the couple research a haven't thinks deep into her gemma culture of looking out who the stereotype aquatics put in here sink the sleeves are the countries that i now not play piano looted seen from picking those graham on their team you go yes it's all that good and bach nuked i my show join me for meet the germans on deed up ian post hardly a shift goes by without a physical assault. police officers are experiencing violence more and more often. now that some german states are hoping body counts may help deescalate that trend worn on the uniforms the cameras record the encounter and may discourage potential attackers. that's the idea anyway. minds the state capital of a fine land. giving shias and stephon male are going on t.v. the 2 officers carry a new weapon in the fight against t

the over mention on the fours and leave some small business in the thinking about mr bottoms the fannies at the last and dragons in this word has come to harm to 3 years. we've got. chewed. tobacco. hello 2 and welcome to all our viewers around the world where glad to have you with us for the latest edition of our environmental magazine eco africa and i'm especially pleased to introduce to you my new.

powell in the past from one tree and fannie and that should lead it to the next a sign that democracy has staying power. and now to some of the other stories making news around the world. the afghan government says it will not consider making a peace deal with the taliban until after this month's elections a presidential spokesman said nothing would impede the vote on the 28th of september insurgent group has warned afghans not to vote and threaten to target polling stations. the white house says have been the son of the late al qaeda leader osama has been killed in a u.s. counterterrorism operation carried out near the border between afghanistan and pakistan 2 years ago the u.s. state department designated him a global terrorist after he called for attacks in western capitals. the state funeral for zimbabwe's former president robert mugabe took place today several african heads of state traveled it to the capital harare to honor the controversial strongman in a sports stadium which was 2 thirds empty not all zimbabweans are mourning his passing our correspondent adrian kish reports.

survivor scattered from the scene of the attack as the 2000 people had come to listen to president fanny in the town of when a suicide bomber detonated his explosive belt. here to suddenly on a motorbike arrived at a huge explosion went off a lot of people were martyred and wounded. in the desperate scramble the wounded were piled on to pickup trucks and raced to hospital. but there was a terrific blast 1 that all my friends got injured i don't know what happened next . the 2nd blast went off hours later near the u.s. embassy in kabul it was also claimed by the taliban on a 2 coast carnage. that i heard an explosion dust rose from the side of the attack. there was gunfire. i escaped from here body parts are spread all around this area. the insurgents opposed the actions campaigning all but ceased as the u.s. and the taliban negotiated a peace deal but president trump last week an ounce deal was quite debt. the candidates are now back on the campaign trail. while the taliban are seeking revenge for trump's snap. edward snowden's although biography permanent record is arriving in bookshops

older gretchen home the 4th time for the most recent medellin colombia that was the bottom of the fannies at the nasa dragon was word called the home. to the real books on. the middle and i'm just the brand new w from the bottom of the book it's personal it's device and it's about topics that affect us all pollution climate change and the turn. call in the 1st chapter. of the. could be a deal to connect east and west about the hong kong exchange is promising with a surprise bid to buy redundant stock exchange will tell you what a takeover could mean. also on the show you're young and live in the city do you really need your own com our reporter goes to the front foot on the show to see if he can beat persuaded. that india promises to be a multi $1000000000.00 market but e-commerce soup thomason gets ready to be part of the action to. come to the business into jones will end the t.v. with us so the hong kong stock exchange has made a bid for one of its biggest european rivals the organization says it has offered more than 36000000000 dollars for the london stock exchange group the proposal

was the bottom of the fannies at the last dragon this one called the hard true yes.

$15000000.00 to settle claims that conspired to break the prices of bonds issued by mortgage lenders fannie mae and freddie mac. is the 1st of 16 financial institutions to reach a settlement in the u.s. which has known me to be wrong doing. and here is just weeks away from a presidential election and protesters are demanding the government declare a food emergency spiking inflation is leaving the nation's poorest struggling to feed themselves use a 100 holes a bosio reports. 60 year old housewife. lives in a hut without running water in the city of science pena in the northern argentinean province of choco she has 11 children to live with her and there's also her 4 year old grandson benjamin he is recovering from severe malnutrition. and he said often it is very difficult to buy the things you need. she needs between 4 and 5 euros for their daily food needs she says the money comes from her children's allowance her daughter's disability pension and the wages her son earns whenever he can pick up work but there is often not enough money. and yes my son does odd jobs and gets paid in the afte