legislation without unraveling the whole process and whining fannie and freddie down. -- winding fanniethey want to preserve it because of stability and they would say yes. we need to be careful that we don't create another layer of chaos that can come from imprudent legislation. everything that is good about the bills in congress could be fannie anday to freddie. >> how confident that you will get some sort of dispensation ? \ the legislation leaves the question open. >> i'm pretty confident. the fairness argument is very powerful. now you have some hedge funds and real heavyweights to advance your holder interest. i'm glad they are there. there are thousands of people who put these shares in a lockbox for their kids'education. they deserve to recover some of their equity. >> my question is, what is the alternative to fannie and freddie ech? what can we replace the system with? since the great depression. is there a legitimate alternative in the u.s.? >> there are several proposals on the hill right now. a big one getting first consideration on april 29 that would replace fannie and fr

for boosting the affordable housing goals or maintaining the affordable housing goals of fannie mae and freddiehe wants to weigh in on the policy debate as well. overalldebating the fannie and freddie going forward. he thinks the proposal went too far. >> peter cook, thank you. coming up, we will go back to the new york auto show. matt miller will speak with the president of subaru, tom doll. ♪ >> bloomberg is the only business news service being offered on amazon fire tv. if you miss any of our interviews, you can now watch them on bloomberg on apple tv. featuring live streaming and on-demand videos. it is time for today's commodities report. my colleague joins me with details. >> good afternoon. we have energy prices taking a big kumble today after the latest energy department data showed a surprise, causing traders to do a double take. inventory has been more than five times as much forecast. mexico grows by the most ever since the energy department began reporting this data, backing back to 1990. we are now looking at supplies of 10 million barrels. he called the build up huge and said this

mentioned, private investment banks get in in the early 2000s. >> they see a market opportunity that fannie and freddyplaced for them going back to the 1992gse agent. that act has several euroyows features, one of which was it told fannie and freddy they had to repurchase loans from banks that met affordable housing standard criteria. >> they had to give a lot of money to poor people, in poor neighborhoods. >> up until 1992, total cra lendings, 8.8 billion. a lot of agreements between activist groups and banks, but very little lending. beginning in 1992, and incidentally, this is legislation which is crafted under the first bush administration. to be clear here, this is not a democrat or republican issue. the basic problem that the community banks have or community groups have is what they want to do is get access to more credit, credit channeled through the organization to the constituents, quite reasonably. that's the stated job. banks want to merge. in order to get approval for merger, and i think from the vantage point of today, we don't have aceps -- a sense of how rapid fire and dramatic mergers

you have fannie and freddie. guaranteeing nearly all the mortgages have access to government money without congress needing to access. -- needing to act. if there is a hick up -- hiccup in the world economy, guess who is on the hook? the taxpayers. the status quo is awful. we're five years removed and it has not been fundamentally addressed. they are in conservatorship. they are making some money. most of it is one-time money. it would not take much to topple them into a problem zone. that needs to change. senators johnson and crapo should be applauded for trying to drive the process. we do not like every aspect of the bill. we think something needs to happen to change and get rid of fannie and freddie and move it toward a more private market model. >> are the aspects you do not like deal breakers? >> not necessarily. your viewers' eyes would glaze over. there are arguments around if there is the new guarantor of mortgages, do you go directly to the capital market? who should be allowed to do that? can you play m

the banks only lead to any and freddie into the extent that is in their interest to fannie and freddiebecause they extract the concession. once the mortgage standards have been written into the basic game has been organized. the fact is there is a lot of it sitting inside privately run not subject to the community reinvestment act privately invested in and highly leveraged in the investment banks. they didn't stay on the side. they also depend as much. they were a little more cautious but hundreds of billions of dollars of the mortgage-backed securities were packaged and they all had their own wendin lg and have their own originators. so how do you explain, and let me ask in a different way. they could have gone broke because they made loans after the political pressure. and it would have been a expensive. but to get a collapse in the shadow banking system took something else it seems to me. >> there are two different issues here. the first question was was there a lot of private players using their own money for these investment banks and citigroup. the key thing to recognize is if fa

today, fannie mae and freddie mac celebrate payment in full to taxpayers. e of the greatest comebacks in our nation's history. so, let's preserve and strengthen fannie mae and freddie mac. because without them there really could be no place like home. . >>> welcome back to "the lead." we're monitoring the tornado that was declared in mississippi and we'll turn there if a moment. but now let's turn to the world lead. things got ugly in eastern ukraine. hundreds of chanters were attacked with batons and bats in donetsk. a homemade bomb took the life of a soldier. the violence comes as the president of the united states who is wrapping up a seven-day trip to asia is trying to defend his foreign policy to his critics. >> typically, criticism of our foreign policy has been directed at the failure to use military force. and the question i think i would have is why is it that everybody is so eager to use military force after we've just gone through a decade of war at enormous costs to our troops and to our budget. and what is it exactly that these critics think wou

jim crow with edward harrison and today we're discussing fannie and freddie and their possible extinctionmaybe we'll see now if you remember during the financial crisis the government seized fannie and freddie for a one hundred eighty seven point five billion dollars in taxpayer support into the organizations since then the companies have turned around sending over two hundred billion dollars in dividend payments to the treasury the senate banking committee later this month will discuss a bill that would abolish fannie and freddie and replace them with a new agency that would back home loans but that doesn't bode well for investors in these companies now a new group called investors unite argues that it wants to protect the rights of shareholders they are opposing the bill because it would prevent the companies from recapitalizing and re compensating shareholders so ed what's going on here with fannie and freddie and what is this bill supposed to do and what do you do for these companies and do you prevent them from not paying their shareholders were basically fannie and freddie really ar

you have fannie and freddie.uaranteeing nearly all the mortgages have access to government money without congress needing to access. there is a hick up the world economy. guess who is on the hook? the taxpayers. quo is awful. we're five years removed and it has not been fundamentally addressed. they are making some money. much to toppleke them into a problem zone. that needs to change. we do not like every aspect of the bill. we think something needs to happen to change and get rid of fannie and freddie and move it toward a more private market model. >> are the aspects you do not like dill breakers? x the eyes would glaze over. there are arguments around if you do not go through the new guarantor of mortgages, who should be allowed to do that? ?an you play multiple roles how do you accommodate all their interest? not things that we would say we do not want to support? >> we think you can make some amendments and move it. our members do have some remaining concern. gramm called this a bill that is dangerous to the

it can make freddie and fannie andelevant stop -- fannie freddie irrelevant. e and freddie show up and prove their value and that's what they are doing now. the private market has backed away, the government is here to stay. the trick policy wise is to get freddie and fannie to shrink in good times and allow the private market to come back. that is the heart art. >> a good conversation as always. neil or richardson, senior economist at bloomer government. -- at bloomberg government. ♪ >> shutter stock has a brand-new and very fitting address them. they just moved into one of manhattan's's most photographed landmarks, the empire state building. i went inside their new office to see how the high tech fit into the iconic building. welcome to shutter stock headquarters, home of one of the world are just digital stock photo libraries. the 20th and 21st floors of the empire state building. brings a startup vibe to an old school building. >> this is the alice in wonderland room. ask are you kidding me? food, affice as free massage room, a secret library and to unbelie

today, fannie mae and freddie mac celebrate payment in full to taxpayers. we've created one of the greatest comebacks in our nation's history. so, let's preserve and strengthen fannie mae and freddie mac. because without them there really could be no place like home. ♪ ♪ liz: earnings season in full swing. 49% of the s&p 500 has already reported first quarter results, and here's where we stand so far. so 161 companies, that's about 49%. 66% have beat. 24 companies, 10%, have met estimates. 60 companies, as i said, 24 have missed targets. and director of global and markets intelligence looks at every single one of them. christine short is here now from s&p capital iq with more on the strengths and weaknesses and perhaps, christine, more importantly, what they say about the u.s. economy. let's get a sense right off the bat sort of the broader picture. which sectors have done well, which ones are heeders, which ones are laggards? >> okay. overall growth, we're expecting 1.1% growth. so not great, but it's the highest expectation we've seen since the first week

today, fannie mae and freddie mac celebrate payment in full to taxpayers. er, we've created one of the greatest comebacks in our nation's history. so, let's preserve and strengthen fannie mae and freddie mac. because without them there really could be no place like home. today is monday today, we greet you. treat you. care for you. today, you can come to cleveland clinic for anything, everything or just to get that "thing" checked out. big, small, and yes, the best heart care in the nation. it's here everyday, for everyone. that's the power the power, that's the power of today. cleveland clinic. call today, for an appointment today. >>> >>> bank of america with a six month low. >> you never want to see a company backtrack no matter what sector. that is what spooked bank of america investors today when the company said it would temporarily halt a four million buy back program. today, they identified an improper calculating program that goes as far back as 2013 and unfortunately was used to calculate some of the bank's capital levels in the most recent stress

today, fannie mae and freddie mac celebrate payment in full to taxpayers. ther, we've created one of the greatest comebacks in our nation's history. so, let's preserve and strengthen fannie mae and freddie mac. because without them there really could be no place like home. >>> secretary kerry is backtracking today for something that was said at a tri lateral commission meeting last week and overheard. joining me now from the capitol for more about that is kelly ayotte who serves on the armed services committee. we're talking about senator -- secretary kerry, former senator, suggesting to the trilateral commission in a private meeting and now backtracking from it saying if israel does not go ahead and the peace process does not go ahead and we know it's been seriously damaged in the last couple of weeks and the palestinian don't get their own state, israel would face a future that could be as an apart had nation, something he says he wish he would not have said if you can rewind the tape. i do not believe nor have i ever stated publicly and privately that isr

today, fannie mae and freddie mac celebrate payment in full to taxpayers. d one of the greatest comebacks in our nation's history. so, let's preserve and strengthen fannie mae and freddie mac. because without them there really could be no place like home. [ girl ] my mom, she makes underwater fans that are powered by the moon. ♪ she can print amazing things, right from her computer. [ whirring ] [ train whistle blows ] she makes trains that are friends with trees. ♪ my mom works at ge. ♪ >>> welcome back to "power lunch." humphries downgraded the stock. marriott will report first quarter earnings tomorrow. the street is looking for a gain of 51 cents a share. that stock is currently down toward session lows, about 3.5% to the down side. back over to you. >> thank you, dom. >> stocks are given up their gains. s&p is flat for the year. the dow and the nasdaq, well, the dow is holding on to a gain. now it's lost 13 points. the nasdaq is accelerating its losses, down 56. given this volatility, how do you invest in this market? randy brown is co-chief investment

fannie mae and freddie mac, if you talk to regulators, they are not feeling great about what hedge funds but the lack months of the world are saying, you cannot break the law. like fannie mae and freddie mac, what is your argument? you have the largest functioning bodies in the u.s. billage market and like and the other funds that are working on the equity side, we are dead investors. we are focusing on the securitization strategies that are the foundation of what is going on in the legislative process in the senate banking committee. >> do you feel like you're betting against the government? they can change the rules. >> we are working with the government. what we are really doing is trying to create solutions. our strategies are transferring credit risk away from the taxpayer. that is the function that we serve. >> use it in a different position than saw the guys at betting on the equities. had he feel about their argument? there was a taking any changing of the rules, examining the way the process works. the arguments have some merit. >> that goes back to hank paulson putting fannie m

today, fannie mae and freddie mac celebrate payment in full to taxpayers. together, we've created one of the greatest comebacks in our nation's history. so, let's preserve and strengthen fannie mae and freddie mac. because without them there really could be no place like home. liz: they twitter plummeted to earth smacking into the ground, micro blogging can't impress the strait. dubya today the stock hit an all-time low of $37.24 in its young life. the stock trading $4.19. billionaire jeff greene began shorting the stock in december at the price of 70. shares at an all-time high, and beginning to fall. it is the best, for jeff green, joining us live by phone exclusively, stanford law fellow which is a longtime skeptic of growth plans. let's begin with you. you have often said twitter may be a strong company at some point, it doesn't justify the valuation and that is why you begin shooting in at $70 a share. what do you think of the trade today? >> in mid to late december, it was $35 billion valuation. is the only option and didn't have any earnings and didn'

that's a conventional mortgage you get a pass through of the increased fees that come from fannie and freddie jumbos are fannie and freddie and therefore they don't have that pass through and that makes the. cost less for the conventional mortgage and again you do have the fact that conventional mortgages you know the average credit score is going to be lower than they are for a jumbo which is a bigger risk so you prefer to run out more money at a higher rate of return potentially going to go ahead as always thank you we'll talk about this again because it is interesting stuff and affects a lot of people that's all for now check out all the segments on you tube you tube dot com starchy facebook same spiel you can tweet out has made at edward and it's from all of us here thanks for watching catch next time check out. the. patients are forced. to. listen to finish line a carrot on. her . leg. length. crosstalk rules in effect that means you can jump in anytime you want. fierce fighting erupting on the streets of eastern ukraine the city of dawn yet as those supporting and defying the government

today, fannie mae and freddie mac celebrate payment in full to taxpayers. ether, we've created one of the greatest comebacks in our nation's history. so, let's preserve and strengthen fannie mae and freddie mac. because without them there really could be no place like home. ♪ [ indistinct shouting ] [ male announcer ] time and sales data. spt-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistincthouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorsm from td ameritrade. ♪ stuart: i think we can both afford $10. i say republicans will extend the majority in the house. >> i will say this to you. you still owe me money from obamacare 2012. stuart: he says there's still hope for democrats in november. unfortunately he is correct since republicans don't have any ability to debate or present clear statements, so why not choose them? that is a rather pessimistic statement. saying stuart, despite disagreeing about 99% of the time, there is no need to attack the man. come on, dominic, thought we had a friendly con

ambassador to be on my conscience cia did you count served my job is to make the boat because of fannie freddie and you can imagine it's a difficult discussion over the phone to phone the hook. fortunately the team dresses and thinking only. and that osama prime minister the minister of foreign affairs and the seychelles people you have to leave because you're in danger. i mean you've got to go two hours off to the downing of the play the call another run the school and all of the rebel forces came to see me and told me. best of the eu on the list. off to power the ball to continue with the on going to do due to new owners don't move jessica on a snare to be at our troops for infatuation. i wanted to complete the evacuation before leaving the embassy. what kind of calls i could not allow myself to these people get all the leaks belgian diplomats members of the embassy. that's why in the first time in the first hour was ivory fumes to write to quit. finally we have to we had to be used only to show the pressure off the streets too much pressure i have no choice happened in st when running at a t

fixing fannie and freddie. we have an exclusive interview with a democrat who opposes the plan to online the housing giants. what does he want to do instead? h hedge funds will be listening. >> we will hear from the former agent pfizer has hired to put a stop to it all. >> good morning. you're watching "market makers." >> i am stephanie ruhle. a lot of market chatter that we need to dissect. first, let's get to the news. >> these the top business stories from around the world. the u.s. cover he will drive the global economy this year. had its forecast for worldwide growth. it reduced expectations for brazil and russia. citigroup is settling up. they agreed to pay more than $1 billion to settle claims by investors in mortgage cap securities. citigroup is still facing action from regulators. in germany there is a deal for art stolen by the not sees. it is held by an art dealer for decades. had art in his apartment for decades. billion. that is what two of the biggest drug companies in the world have been ordered

today, fannie mae and freddie mac celebrate payment in full to taxpayers. created one of the greatest comebacks in our nation's history. so, let's preserve and strengthen fannie mae and freddie mac. because without them there really could be no place like home. ♪ (vo) oh. my. tongue. finally. (announcer) all-new friskies saucesations. a taste experience like no other. in cheesy, creamy, homestyle, or garden sauce. friskies. feed the senses. if yand you're talking toevere rheuyour rheumatologistike me, about a biologic... this is humira. this is humira helping to relieve my pain. this is humira helping me lay the groundwork. this is humira helping to protect my joints from further damage. doctors have been prescribing humira for ten years. humira works by targeting and helping to block a specific source of inflammation that contributes to ra symptoms. humira is proven to help relieve pain and stop further joint damage in many adults. humira can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal events, such as infections,

fannie and freddie have cut housing start expectations for 20-14. construction is now expected to begin on about 1.05 million homes - 50-thousand fewer than what was expected earlier this year. the federally-controlled mortgage finance giants, fannie mae and freddie mac blame strained credit and labor markets for the lowered expectations. and when it comes to renters the picture is even less rosy --rapidly rising costs, coupled with slow wage growth is spelling trouble for the middle class. to be considered afffordable rent shouldn't exceed more than 30% of a household's income -- and that doesn't include utilities. but that rule of thumb is being surpassed in many metro areas including new york, los angeles, chicago, miami and boston -- among others trulia economist jed kolko confirms it is a trend that started during the recession. rents are rising faster than wages and income have been. and even during the recession and the housing bust, rents continued to rise in many cities across the country. that means that even though buying became much more

today, fannie mae and freddie mac celebrate payment in full to taxpayers. he greatest comebacks in our nation's history. so, let's preserve and strengthen fannie mae and freddie mac. because without them there really could be no place like home. >>> the battle for trader of thee, joe, continues to hold on to the -- and the najarian brothers are battling it out for third place. there you go. weiss? >> let me say this -- >> boy, there was a stammer. >> it's a -- i feel like the -- it's a one-year contest, and you ever hear the joke about the father bull and the son bull at the top of the hill? so i'm going to take pie time, man. >> i'm hear a lot of bull. >> recent change i will be making likely on friday. i'm unhappy with more than one position, but i think four out of five will do quite woe, actually. >> we're going to go live to san francisco, as the face of facebook mark zuckerberg gets ready to take the stage. and we're ringing the nyse closing bell live from right here, that in honestor of our 25th anniversary. we're lucky to have two people in our contr

today, fannie mae and freddie mac celebrate payment in full to taxpayers. ther, we've created one of the greatest comebacks in our nation's history. so, let's preserve and strengthen fannie mae and freddie mac. because without them there really could be no place like home. for $175 dollars a month? so our business can be on at&t's network yup. all five of you for $175. our clients need a lot of attention. there's unlimited talk and text. we're working deals all day. you get 10 gigabytes of data to share. what about expansion potential? add a line anytime for 15 bucks a month. low dues... great terms... let's close. new at&t mobile share value plans. our best value plans ever for business. ♪ ♪ liz: after spending most of the year in the red, apple is ripe for a comeback. the stock is on its way to closing out the month near the $600 a share level. looking at shares right now, they did hit a new 52-week high today, they hit it twice yesterday, 592 and change right now, the yellow line is apple compared with the nasdaq which looks like it'll close the week down

not only low interest rates that hillary talked about the presence of fannie and freddie, five or sixears later, fannie and freddie are still major parts of the mortgage market. that is why it is stalled. melissa: we'll leave it there. thanks, guys. from the u.s. to every corner of the globe money is flying around the world starting in switzerland, national carrier swissair is the world's first hypoallergenic airline. it rye moved all fresh flowers around completely changed pillows and offers gluten-free meals. don't expect to find any fancy soap in the bathroom. you will get plain unscented stuff. that makes sense. >>> over to china where burberry is targeting well-heeled consumers, opening a virtual storefront on alibaba's site. this is first tie-up with luxury western brands. online shop something exploding in the country with nearly 300 billion worth of merchandise brought through the internet last year. >>> land negotiate u.k. where rbs has given up on its plans to pay bonus toss bankers that were twice the size of salaries. the u.k. treasury still owns 81% of rbs still. they say

today, fannie mae and freddie mac celebrate payment in full to taxpayers. eated one of the greatest comebacks in our nation's history. so, let's preserve and strengthen fannie mae and freddie mac. because without them there really could be no place like home. >>> the leaders are diverse, but they all have some key traits which helped them succeed. joining us with a look, is the editor in chief and so much more at inc. incorporated. what a fascinating piece, eric, which you can find on cnbc.com. you know, eric, you at "inc." follow the entry prior neural spirit in culture like no other publication in the country, but what stood out i thought was how many of our top 25 actually failed at one time or another. >> yes, behind every entrepreneur there seems to be a comeback story. jack bogle, martha stewart, steve jobs, they hit bottom before they rose up to the top. >> if you can't handle adversity as a business owner. >> and you shouldn't etry. it was the thing that gave them wisdom or humility and allowed them to get better. both bogle and steve jobs said getti

today, fannie mae and freddie mac celebrate payment in full to taxpayers. er, we've created one of the greatest comebacks in our nation's history. so, let's preserve and strengthen fannie mae and freddie mac. because without them there really could be no place like home. today is tuesday today, we greet you. treat you. care for you. today, you can come to cleveland clinic for anything, everything or just to get that "thing" checked out. big, small, and yes, the best heart care in the nation. it's here everyday, for everyone. that's the power the power, that's the power of today. cleveland clinic. call today, for an appointment today. >>> if >>> if you are just engining us, you missed a lot, but don't worry. here's the recap about 2:10 eastern time adam silver announced a lifetime ban on l.a. clippers owner donald sterling. silver says the nba has confirmed that racist comments made on tape were voiced by sterling. the nba also fined sterling $2.50 million, which i do believe is the maximum allowed under the nba constitution. we shouldn't lose sight of the ma

today, fannie mae and freddie mac celebrate payment in full to taxpayers. , we've created one of the greatest comebacks in our nation's history. so, let's preserve and strengthen fannie mae and freddie mac. because without them there really could be no place like home. . >>> the net income soared bolstered, macaw improved book us for that casino group, currently trading up about 8% near session highs. check out las vegas sans and wynn resorts, up as well in sympat sympathy. s so, again, those casino stocks up big today, tyler. >>> thank you very much. to celebrate our 25th anniversary, creating a list of the 25 most influential and transformative people in business in the past quarter century. earlier today we revealed the list and how they ranked. all day we're telling their stories, and now he's the mutual fund pioneer who gave birth to vanguard and invehemented the index fund, number nine on our first 25. investors' pockets than any other. his name is jack boggle. he shouldn't be alive. >> he was in many ways a true innovator in the field of individual in

today, fannie mae and freddie mac celebrate payment in full to taxpayers. eated one of the greatest comebacks in our nation's history. so, let's preserve and strengthen fannie mae and freddie mac. because without them there really could be no place like home. could mean less waiting for things like security backups and file downloads you'd take that test, right? well, what are you waiting for? you could literally be done with the test by now. now you could have done it twice. this is awkward. check your speed. see how fast your internet can be. switch now and add voice and tv for $34.90. comcast business built for business. >>> the dow is still holding. let's look at what's happens in terms of our daily rundown. what do we call it? >> we call it what's going on. >> street silk is what we call it. those shares are moving to the down side. >> the target has also doubled here. that implied about a 15% valuation. they're making this evaluation call, expect long-term this is an industrial company that does everything from pumps to tubes, anything oil, gas, and re

today, fannie mae and freddie mac celebrate payment in full to taxpayers. ted one of the greatest comebacks in our nation's history. so, let's preserve and strengthen fannie mae and freddie mac. because without them there really could be no place like home. live in the same communities that we serve. people here know that our operations have an impact locally. we're using more natural gas vehicles than ever before. the trucks are reliable, that's good for business. but they also reduce emissions, and that's good for everyone. it makes me feel very good about the future of our company. ♪ i'm almost done. [ male announcer ] now you can pay your bill... ♪ ...manage your appointments... [ dog barks ] ...and check your connection status... ♪ ...anytime, anywhere. ♪ [ dog growls ] ♪ oh. so you're protesting? ♪ okay. [ male announcer ] introducing xfinity my account. available on any device. time for the world lead. claims by the australian firm that they have found some sort of wreckage in the bay of bengal that may or may not belong to flight 370 are being met wi

freddie mae and fannie mac -- freddie mac and fannie mae decided not to produce -- in a debt reductionprogram. now we have seen in the housing market a decent recovery, at least in home prices. prices haveis that gone up a little too fast and are making it harder for people to afford homes. borrowers are underwater or they owe more than their homes are worth. it was almost double that a couple of years ago. the home price gains have helped, but there is still a long road to go. should more be done? if you're going to do more, you are not going to have favorable tax provisions for those who get help. it makes you wonder if it is worth doing these things. a special line, (202) 585-3883 we would love to hear your story if you have used these program. peggy, you are on. caller:. thank you for taking my call. we were back east in 2007 and purchased a home. we put 30% down. the house went way down in value. it is valued at less than what the people valued before us in 1990. took a dime from anybody. we took the loss. it is time to take the band-aid off. i know a lot of people that are in bad

today, fannie mae and freddie mac celebrate payment in full to taxpayers. together, we've created one of the greatest comebacks in our nation's history. so, let's preserve and strengthen fannie mae and freddie mac. because without them there really could be no place like home. mattress discounters memorial day sale! what's this? a queen-size sealy gel memory foam mattress for just $497? mattress discounters has the largest selection of memory foam mattresses under one roof! comforpedic... icomfort... optimum... and wow! four years interest-free financing on the entire tempur-pedic cloud collection! don't miss the memorial day sale. ♪ mattress discounters >>> talk about awkward. in the last hour, republican congressman paul ryan braped up a meeting with members of the congressional black caucus. ryan had a lot of explaining to do after he appeared on bill bennett's radio show last month and said this. >> we have got this tail spin of culture in our inner cities in particular of men not working and generations of men not even thinking about working or learning

today, fannie mae and freddie mac celebrate payment in full to taxpayers. , we've created one of the greatest comebacks in our nation's history. so, let's preserve and strengthen fannie mae and freddie mac. because without them there really could be no place like home. pcentury link provides reliable yit services like multi-layered security solution to keep your information safe & secure. century link. your link with what's next. >>> mechanic gets a cold, black people get the flu. that means any economic problems for the nation means economic catastrophe for communities of color. income inequality is glowing, but the racial wealth gap is far larger. immediate income for black and hispanic americans were almost $20,000 less than they were for white work nerz 2012. unemployment rates for black and hispanic americans remain more than double the rates for whites and on and on. what are we going to do? a sold-out summit in d.c. organized by the congressional black caucus is seeking answers. the color of wealth summit starts wednesday and is headlined by nancy pel

. >>> bill ackman's firm upped the stake in fannie mae and freddie mac. the largest shareholder in both of these government sponsored mortgage lending giants. shares surged about 9%. fannie mae closed at $3.9 and freddie mac at 3 pblt $87. >>> americans cut back on soda at a faster pace last year than in many years, that according to a new report and even diet soda sales are declining. this is the ninth straight year of declines for soft drink sales overall. shares of coke off a fraction to $38.66, pepsico 8 $3.50. >>> "frozen" topped a billion-dollar in global sales and it surpasses "toy story 3" set in 2010. shares of disney up 1.5% to $80.07. >>> apple and samsung in court again today. this time they are battling over patented technology use in each other's smart phones. as morgan reports, it's google that could have the most at stake in this legal scuffle. >> reporter: apple and samsung are at it again facing off in court for the second time in two years over patents. the new case revolving around design elements and featured use in the company's smart

role before the companies are eventually phased out would undermine the important roles that fanny and freddylay in guaranteeing 60% of the nation's home loans. >>> now if you have been looking for buy or down size to a smaller home you will probably find there is not much out there on the market. so no wonder many home buyers are thinking of remodelling their old home instead of buying a new one. diana oleg has more on the push to renovate. >> reporter: the riley family is re-thinking the way they live. with one child already in college and another leaving in the fall, you might think they would be looking to down size. but it is just the opposite, because they expect the kids to move back in. >> for them to come back here, they're going to spend thousands of dollars a month on rent. so the idea was to build a suite downstairs for them to have their own space when they came back home. and we had our own space on a separate floor. >> like so many others frustrated by higher home prices and limited supply, the rileys are choosing to renovate. >> the big trend is that people are re-doing their

but you're right it added up to a great deal, they paid 6 billion to settle with fanny and freddy, andthe attorney general. this would be a big hunk to put behind them, it would be the justice department, and probably various states as well and would resolve the outstanding issues. >> all right, we recorded their earnings so we can't go back and talk about that impact. but what do you hear from the ceo as well as other things that bank of america wants to do? >> well, they're definitely very eager to put the matters behind them. they want to be honest, in that case with first quarter earnings that meant that their cfo said look, this is hard to predict, we set aside $6 billion for legal payments and that notion and clarity sent the stocks swarming. having said that i think investors feel relief to think that some of this may be settled and the stock has actually rallied. >>> and shares of verizon were the biggest decliners in the dow today falling 2 and a half percent. and despite signing up a half million more wireless subscribers and netting $6 billion in profits last quarter. but am

freddie mae and fannie mac -- freddie mac and fannie mae decided not to produce -- in a debt reductionrogram. now we have seen in the housing market a decent recovery, at least in home prices. prices haveis that gone up a little too fast and are making it harder for people to afford homes. borrowers are underwater or they owe more than their homes are worth. it was almost double that a couple of years ago. the home price gains have helped, but there is still a long road to go. should more be done? if you're going to do more, you are not going to have favorable tax provisions for those who get help. it makes you wonder if it is worth doing these things. a special line, (202) 585-3883 we would love to hear your story if you have used these program. peggy, you are on. caller:. thank you for taking my call. we were back east in 2007 and purchased a home. we put 30% down. the house went way down in value. it is valued at less than what the people valued before us in 1990. took a dime from anybody. we took the loss. it is time to take the band-aid off. i know a lot of people that are in bad