he -- fannie mae -- he asked fannie mae to hire his partner to work at the company even as congress was crafting legislation. >> and, in fact, you know, there's this view that the fannie problem was a democrat, not a republican problem, and the truth was that you had republican senator kit bog who tried to prevent fannie and freddie from doing an investigation, tried to put language in to get them defunded. both sides of the aisle. >> where are they now? one of the points in the book is nobody's been punished. people are have not paid the price for their errors of judgment or perhaps worse. johnson, where is he now? you said he is -- >> well, as you know, he was the -- on the selection committee for obama's vice presidential candidate until the sweetheart loans from countrywide came out. so he's, you know, still a force in washington. >> right. >> we have many, many people, not surprising, fannie mae had long and deep tentacles throughout washington, many people in positions of power, tom donilon, national security adviser, was at fannie mae. tom nides was at fannie mae, now at the stat

he -- fannie mae -- he asked fannie mae to hire his partner to work at the company even as congress wasd, in fact, you know, there's this view that the fannie problem was a democrat, not a republican problem, and the truth was that you had republican senator kit bog who tried to prevent fannie and freddie from doing an investigation, tried to put language in to get them defunded. both sides of the aisle. >> where are they now? one of the points in the book is nobody's been punished. people are have not paid the price for their errors of judgment or perhaps worse. johnson, where is he now? you said he is -- >> well, as you know, he was the -- on the selection committee for obama's vice presidential candidate until the sweetheart loans from countrywide came out. so he's, you know, still a force in washington. >> right. >> we have many, many people, not surprising, fannie mae had long and deep ten ti cals throughout washington, many people in positions of power, tom donilon, national security adviser, was at fannie mae. tom nides was at fannie mae, now at the state department. >> bill dale

he -- fannie mae -- he asked fannie mae to hire his partner to work at the company even as congress wasion. >> and, in fact, you know, there's this view that the fannie problem was a democrat, not a republican problem, and the truth was that you had republican senator kit bog who tried to prevent fannie and freddie from doing an investigation, tried to put language in to get them defunded. both sides of the aisle. >> where are they now? one of the points in the book is nobody's been punished. people are have not paid the price for their errors of judgment or perhaps worse. johnson, where is he now? you said he is -- >> well, as you know, he was the -- on the selection committee for obama's vice presidential candidate until the sweetheart loans from countrywide came out. so he's, you know, still a force in washington. >> right. >> we have many, many people, not surprising, fannie mae had long and deep tentacles throughout washington, many people in positions of power, tom donilon, national security adviser, was at fannie mae. tom nides was at fannie mae, now at the state department. >> b

the democrats are fighting about fannie mae, sallie mae, freddie mac.ld the government be involved in the loan business? with competition, are they for profit? or are they impacting the economy. with conflict of interest is at stake. >>catherine: i am not surprised with exxon or wal- mart what else did surprise you? >> rob: people forget berkshire hathaway, it is a holding company. they hold other companies. inside of it you have of warren buffett knowledge of acquisitions and i think that is a great company with a long term, a patient investor. and you can error on the side of caution. you can air-the side of caution, a dairy queen makes tiny little perhaps yogurt. >>catherine: the it and around forever! they have been around forever, the fortune 500 and generated 10.8 trillion dollars. and that is up 10% what does that tell us? >> rob: from the investment standpoint is were i look at it from. with companies bin or run since you and i were children. they will probably be around since you and i were a little children. they will probably a round when we

fannie mae was a wonderful lobbying organization. they did a wonderful snow job on the congress of the united states. there's a book, "all the devils were there." basically, they do wonderful lobbying. they talk of congress into a lot of things. the cost of the united states government over $100 billion. one of the most expensive transactions in american history. mr. mudd has now come to san francisco and he is going to bless us some more. my advice to you is -- let the buyer beware. you were going to get stuck. you are not going to like the results. in vancouver, they did not like the results of fortress. they lost river tonight in new york. you are going to get hurt. i'm sorry to say that. what's happening at parkmerced -- they've gotten rid of garbage collection at the doors now. it's bad management. it's the worst we've ever had. we've had bad management in the past. the current management at parkmerced is the absolute worst. they do not collect garbage of the doors anymore. supervisor mar: thank you. i'm going to call the last r

he ran fannie mae into the ground. he is now the ceo of fortress, the dominant partner at parkmerced. frankly, i think he should take a good, hard look at what you are dealing with. or to put it another way, do you think warren buffet or mere rothschild would want to do business with these people? i do not think they would. -- >> name is kathy, and i have lived in park merced 58 years, i am part of the action coalition. i am speaking as an

he ran fannie mae into the ground. he is now the ceo of fortress, the dominant partner at parkmerced. frankly, i think he should take a good, hard look at what you are dealing with. or to put it another way, do you think warren buffet or mere rothschild would want to do business with these people? i do not think they would. -- >> name is kathy, and i have lived in park merced 58 years, i am part of the action coalition. i am speaking as an individual and not representing the group. we feel that these mendments that now you aren't considering but shouldn't be considered because you haven't even listened to the appeal that was filed on the e.i.r. so it seems a bit out of sync to go forward when you of you haven't even looked at other alternatives. some of us would very much like to be part of a limited equity coop and buy park merced and have the residents own their places. this is the end of the middle-class in san francisco. we could become an affordable housing recentable in san francisco. we have 3,000 units that i a

that is why when we see these stories about fannie mae and wanting another $9 billion of bailout money, that is the problem. people want to make mistakes and make bad bets, go ahead. do not come to the taxpayer asking for money. that is what got the tea party people angry. >> it sounds like you are saying the government is responsible for oversight but we need to get rid of regulation? >> the government is too big. it is not what the founders intended. aroundoing to be running washington taking a look at the big departments. >> you said we could raise the debt ceiling if we could do $100 billion. >> we come to the card game and we're not just handing over our chips to the liberals from the other side with the help of our house republicans. if you want to raise the national debt ceiling and we gave you eight or nine things we might consider, including getting rid of obamacare, we are going to play our cards one step at a time. you want to raise the debt ceiling, what are we going to get in return? that is the way this card game will get played. >> let me add something to this. again, we

. >> would fannie mae and freddie mac fall on to this? >> they added a side story to this. the real problem was from the private label securitization and that spilled over into fannie mae and freddie mac. they're not government agencies. there were not tasked with consumer protection. fifa was not tasked with consumer protection either. >> my time has expired. >> mr. quigley is recognized for five minutes. >> i appreciate the disagreement here. our judicial system is built on the zealous advocates disagreeing. we would like to think we move toward the truth with that. toward that end, while i recognize that we will not hold hands and sing kumbaya, it is nice to see this warm and fuzzy moment. dr. evans, the professor's comments about transparency -- while you may disagree about this agency, can you talk about how transparency might help this industry and if you agree or what parts of transparency might improve things from the consumer's point of view? >> that is a fair question. let me start out by saying that i am not suggesting that they're not problems to be self. there

how can we tell future generations we saddled them with trillions in debt for fannie mae, freddie mac, hud, planned parenthood, national public radio, which is paid for by government funds cannot tobacco subsidies that cause cancer and epa regulations of cuba and exhale. we're going to tell our grandchildren that. how can we tell our children we dead their debt grave to hold official washington harmless from the kinds of layoffs the private sector has experienced? in a recession caused by congress's banking and housing policies. yet none of them are going home. how can we tell them we kept borrowing $4 billion per day in order to buy one-third of the u.s. corn crop for ethanol's subsidies that spike food prices for the world's poor? if john boehner stopped this leading house members and all america by echoing treasury secretary tim geithner's the fault the feet, it is a lie. when he tells them house inaction on the debt ceiling = default to bondholders, that's a lie. there is plenty of tax revenue to pay on t-bills and tim geithner is in charge of paying that interest. what he really

. >>> fannie mae posted first quarterly gain in two years and is not asking for more federal aid. >>>e says a new update will reduce the time your iphone stores location data from one year to one week. this after criticism that the phone's tracking device was sending info back to apple. >>> after the bell, news corp. missed the street's earning estimates while whole foods weighed in with its strongest results in five years. >>> and finally, one runaway bride in italy may have to pay a hefty price for her happiness with another man. the guy she left at the altar is suing her for nearly three-quarters of a million dollars. >>> the mvp leads back the bulls, the lakers stumble at home and another sudden death winner, this time for the sharks. >>> lightning strikes the washington capitals and sends them packing. your first look at sports is straight ahead. you're watching "first look." for dentists, the choice is clear. fact is, more dental professionals brush with an oral-b toothbrush than any other brush. trust the brush more dentists and hygienists use, oral-b. of course not. we broke u

and fannie mae leaps from 81st last year to number five this year, because of new accounting rules and a bailout from uncle sam. >> tom: federal prosecutors have trimmed down their case against financier allen stanford. eight charges have been dropped; 14 remain, including wire and mail fraud. the feds say stanford ran a ponzi scheme, funding a lavish style of yachts and private jets. stanford's lawyers say their client is innocent. he's currently at a federal prison in north carolina, the same prison that's home to bernie madoff. >> tom: it's something that happens to every parent. you're in the grocery store, your child has a tantrum, ranging from whining and crying to screaming and kicking. in tonight's "kids and cash" series, how to avoid those outbursts over something on the store shelf by teaching your children the value of money. here's alisa weinstein, author of "earn it, learn it." >> oh, the "gimmies." aren't they the best? you're just standing in the aisle of target, holding your laundry list, looking for cotton balls or q-tips, and your kid starts insisting she has to have

that is why when we see these stories about fannie mae and wanting another $9 billion of bailout money, that is the problem. people want to make mistakes and make bad bets, go ahead. do not come to the taxpayer asking for money. that is what got the tea party people angry. >> it sounds like you are saying the government is responsible for oversight but we need to get rid of regulation? >> the government is too big. it is not what the founders intended. we're going to be running around washington taking a look at the big departments. >> you said we could raise the debt ceiling if we could do $100 billion. >> we come to the card game and we're not just handing over our chips to the liberals from the other side with the help of our house republicans. if you want to raise the national debt ceiling and we gave you eight or nine things we might consider, including getting rid of obamacare, we are going to play our cards one step at a time. you want to raise the debt ceiling, what are we going to get in return? that is the way this card game will get played. >> let me add something to this. a

were extremely accurate in your forecast for housing prices in your book crash growth talked about fannie mae and freddie mac. collapsing all that turned out to be true rather a pointless cycle for housing now people are questioning have we had a bottom in housing i saw something on business insider today alluding to that but there is some dissenting views on housing housing of course is a key part of this crisis today and going forward what are your thoughts on housing peter schiff well i still think that the prices are being artificially propped up by government supports in the form of very low interest rates from the fed and guarantees from the government both fannie and freddie and the f.a. shape i was to well say prices are higher than they would be in a free market but ultimately i think some prime demand will bring the prices down despite the government's efforts to prop them up and i think you're going to have to see i continually decline you've got a lot of property that old really is going to come on the market you have a lot of work closures in the pipeline you've got a lot of peop

three other oil companies exxon mobil, chevron, fannie mae rounds out the top five.e will be right back. ♪ let's go out to the dmv ♪ it's ok that we're number four hundred and three ♪ ♪ we'll find ourselves a comfy seat ♪ ♪ and watch some shows and stuff ♪ ♪ ♪ let's follow that lady with the laptop ♪ [ male announcer ] now you can watch hit tv shows on your laptop with u-verse online and on your smartphone with u-verse mobile, included with most plans. or get u-verse tv for as low as $29 a month for 6 months. in the network you can take entertainment with you. >> mark: workers entered a reactor building that was damaged at the nuclear plant for the first time since yours quicken tsunami. workers installing six ventilation machine an attempt to absorb radiation from the air. [ male announcer ] hi lauren and greg, what's up? we're getting the day started with athenos greek yogurt. later we're gonna ride bikes and go to the -- [ male announcer ] wonderful! let's see what yiayia thinks. are you two married? um, no. but you living together, ah? yeah. you are going to hell

immigration reform is an important one what are we going to do about housing we need to address fannie mae and freddie mac. we need to address housing finance system there are major coup or sort of policy structural things that need to be done. with have to be dealt with on a federal level and congress that are being paid attention to because all the bickering is about what kind of political posturing can i in value can i get to where i'm going to stay out of the debt ceiling or not or what i'm going to say about the budget but i'm not going to have a real conversation with all the worries or not to have that feeling that i had to deal with this all the time right didn't i thank you both for joining us tonight it's now coming up president obama calls for immigration reform but it was just an attempt to win the hispanic vote and twenty two out tonight we're going to look at still interviews on immigration reform a look at the political impact and the economic growth that immigration is place here in the us will be right back. let's not forget that we sat in a parked car right. i think. well

football and we can attach all kinds of riders to it that this is what happened with freddie macand fannie mae they didn't like the regulator so they handicap it this is classic financial services has been going on for decades are they going to well i don't think so because i think a lot of people like to believe that people are in the end more rational then they sometimes are saying and i think a lot of people are speaking very forcefully against religious leaders rational and as much as they want to be a million votes for the next real arch well but i think they may be saying some things that if they knew that their vote was actually that there stood a chance for this to actually go through i wonder if they would be quite simple for example let's let's privatized freddie and fannie freddie and fannie were problem they need to be changed but i think that people are just saying blanket let's privatise that they know right now that would roll the markets if they thought it was a possibility it would really happen they would temper what they're saying well you know i hope you're right i think th

that is why we see these stories both fannie mae one another $9 million, that is the problem. do not come to the taxpayers asking for money. >> last question, right here. >> it sounds like you are saying that the government is responsible for oversight, but we needed deregulation? >> the government is too big for its britches. it is not what the founders intended. " we have now in washington, and we will be running around washington taking a look good all of the apart -- departments. >> you said that we could raise the debt ceiling. can you elaborate? >> we come to the card game. if we're not just handing over our chips to the liberals on the other side. if you want to raise the national debt ceiling, and we gave you eight, nine things that we might consider, including getting rid of obama-care, we will play our cards one step at a time. if you want to raise the debt ceiling, what are we going to get in return? that is the way that this card game is going to get played. >> again, we are not all in agreement about specific issues. we're all in agreement about the big picture. l

how can we tell future generations that we settled them with trillions in debt for fannie mae, freddiemac, hud, planned parenthood, national public radio, which is not which is paid for by government funds, tobacco subsidies that cause cancer, and epa co2 regulation of human exit. we will tell our grandchildren. how can we tell our children that we do their do their debt great in order to hold official washington harmless from the kind of layoffs that the private sector has experienced in every session caused by congress as banking and housing policy. yet, none of them are going home. how can we tell them that we kept on borrowing 4 billion per day in order to buy a third of u.s. corn crop for ethanol, subsidies despite food prices for the world's poor. and if boehner stops misleading, another if, if boehner stops ms. lee house members and all america by echoing treasury secretary geithner's default defeat, its ally, folks. when he tells them that house and action on the debt ceiling equals the default to federal bondholders. it is a lie. because there is plenty of tax revenue to hold

it stems from a drop of loans, a signal that freddie mac and rival fannie mae could be striking a deal and magazines to the ipad. starting in july, you'll be able to download apps for esquire, popular mechanics, and o. apple has a new service to let users sign up for subscriptions within app to get billed automatically. back to you. >> thanks, courtney. >> sure thing. >> great day. >>> a trip to target is much more exciting than one maryland couple could imagine. >> it's all because of what they found in the parking lot. they were leaving the frederick store when they noticed something on the ground. sade decided to pick it up. it turned out to be a 2 carat, tiffany style platinum engagement ring. they were determined to find the owners so they called the store for four straight days. finally, an employee told them that a desperate woman had just called looking for her ring. 45 minutes later, they showed up at her door. the woman is getting married in three weeks and gave them a letter and a cash reward. and perhaps an ini have tiggesati invitation to the wedding would be in order. >>

. >> reporter: spring is the big selling season but according to fannie mae, home sales are expectedemain soft in the near term and the spring season could deliver disappointing results. so in this climate when it comes to sprucing up your house to sell, it could be as simple as paint color that can make a really big difference. for a couple hundred dollars you can redo the whole first floor or paint the front area. gray is the new beige. a cool modern gray right away tells perspective buyers that your house is different than all of the other ones on the block. >> i think for very little money you can tweak a house all over the place. >> reporter: perhaps at the end of the day the most important thing to keep in mind, it's all about coming home. >> there are simple things that create that mental illusion for people coming in as a perspective buyer to say i can see myself living in this home. that's really key. >> reporter: christine romans, cnn, new york. ♪ what do you see yourself doing after you do retire? client comes in and they have a box. and inside that box is their financial

but according to fannie mae, home sales are expected to remain soft in the near term and the spring seasonisappointing results. so in this climate, when it comes to sprucing up your house to sell, it can be something as small and simple as paint color that can make a really big difference. for a couple hundred dollars, you could redo the whole bottom floor. gray is the new beige. it tells prospective buyers that your house is different than all the other ones on the block. >> i think for very little money, you can tweak a house all over the place. >> reporter: and perhaps at the end of the day, the most important thing to keep in mind, it's all about coming home. >> there are simple things that create that mental illusion for people coming in as a prospective buyer to say, i could see myself living in this home. and that's really key. >> reporter: christine romans, cnn, new york. >> now you've sold your home, hopefully? how do you like your coffee? cream, sugar? how about with some sweet peas? yes, the vegetable kind, like that. i'll explain after this. ♪ what do you see yourself doing aft

so, one is fannie mae. the financial services company comes in fifth on the list of fortune 500.companies. conoco philips, chevron and exxon mobil. the one i said you would get, you got it, second year in a row, walmart tops the list. >>> 12 minutes until the top of the hour. always a pleasure. one of my favorite parts of my morning to see fredricka whitfield and we have a bit of a development with fredricka right now. >> we do? >> after much resistance -- >> now you're making me nervous -- >> after much strife, fredricka whitfield is on twitter. >> drum roll, that's right. @fwhitfield. i'm at the party. >> the party is not as fun as it seems on the outside. >> i'm there. i'm onboard. yeah, in fact, i've already been tweeting a little bit and having conversations with people. >> i heard you got seven tweets out so far. >> who's counting? >> they put them up there for you. >> baby steps. one little step at a time. it's only been about a week. if it's seven, if it's one a day, that's an improvement from zero. >> i have been asking you for the past year plus. are you on twitter? are

fannie mae, the financial services company comes in fifth on the fortune 500 list.conoco philips, exxon mobil and topping the list for the second year in a row, the one i was pretty sure you would get, walmart. >>> well, it has been a pretty busy week for republican john huntsman. who? you know, john huntsman. you know john huntsman. he's the former governor of utah and he's also president obama's former ambassador to china. he surived back home and met with lawmakers and huddled with advisors about a possible presidential bid. and today he is making a first public appearance. he is delivering the commencement address at this school. now, the school and its location are of a little bit of significance here. for that, let me bring in cnn political reporter on the line with me from columbia, south carolina. peter, would i be silly to believe that this is just the coincidence that he happens to be delivering a commencement address in south carolina of all places? >> no. why would you think that? he's also delivering a commencement address in new hampshire later this mo

. >> and fannie mae. >> the maker of fine baked goods. >> i'm going to read off the cover.s. it's from donald trump. are you idiots? pregnant pause. did you notice there was a pregnant pause? >> donald trump was talking about bill and bill, the dollar bills. he has great admiration for me and for boy. >> not so much. >> he thinks these guys are idiots and he's perhaps right. >> it seems like this is hilario hilarious. just thumbing through this especially the part at losing 20 pounds in two weeks, if you ever want a girl to read this, put it on the cover. i read this in 3 1/2 minutes. no advice for me on weight loss. not one word. >> again, we saw all the weight loss books on the amazon list and saw people are buying these books. if we put that promise on the title, you don't have to deliver. >> will i be a better person after reading this book? >> no. >> absolutely not. >> thanks so much. your advice, i'm taking it to heart, i probably look better realady, right? ou>> do. y you're glowing. >> thank you. i can't let allergies stop me from leading the way... so, i get clarit

expert in mortgage finance issues and one of the first analysts to point out the major problems at fannie maeie mac. matt taibbi has written extensively on this topic for "rolling stone" describing goldman sachs as a great vampire squid. all right, matt. let's begin with you. at a very structural level, set the stage for us. what have the banks been accused of doing here? >> so, basically, this was one giant hot potato game. you had your learns like country wide and new century and long beach, and they were creating huge masses of these subprime loans using every manner of fraud available. they were, you know, falsifying income statements, putting people who didn't have documentation, weren't citizens, getting people into bigger loans than they could afford. you had these huge masses of fraudulent loan, and they were securitizing them, making them these giant pools, chopping them up into securities to be sold later. what the banks are accused of doing is taking these loans that they know in some cases are fraudulent and securitizing them anyway and then moving them off to investors without te

we and wasteful corporate welfare for fannie mae and freddie mac and others who have gotten a free ride for too long. all of these debts are necessary to getting spending under control. they are not enough. we cannot cover a debt crisis unless we directly address the rising cost of health care. getting health care costs under control is critical for solving our crystal -- our fiscal mess and promoting growth. health care costs are eating into everyone's paychecks. a second foundation addresses the growing scourged of what i call crony capitalism in which washington bureaucrats abuse the regulatory process to pick winners and losers is -- winners and losers in the private economy. we advance legislation to stop the epa from unilaterally imposing a job-destroying energy cabs and businesses. we have the best legislation in the dodd-frank law which actually intensified the problem of too big to fill by giving large interconnected firms advantages that small firms do not enjoy today. most important, we have opposed repeal of the new health care law and the new regulations. it is bad enough t

silly, or evil, how can we tell future generations that we saddled them with trillions in debt for fannie mae, freddie mac, hud, planned parenthood, national public radio -- which is paid widget which is paid for by government funds, tobacco subsidies that cause cancer, and epa carbon dioxide regulation of human exhale. we're going to tell our grandchildren how can we tell them we've dug. debt grade and hold official washington harmless from a kind of layoffs that the private sector has experienced? in a recession caused by congress's banking and housing policy, and yet none of them are going home. how can we tell them that we kept on ballwin $4 billion per day -- borrowing $4 billion per day by a corn for ethanol. and beninese to stop deceiving americans by echoing geithner when he tells them that house in action on the debt ceiling = default to federal bondholders pressure market is a lie. there are plenty of tax revenues to pay interest on treasury bills, and g-8 himself is in charge of paying that interest. what he really means when he says we will default on federal obligations is simply

when you add in what eventually the bailouts of fannie mae and freddie mac are going to cost, which will be hundreds of billions of dollars, that adds significantly to the debt. and of course the stimulus boondoggle costs us over over $800 billion in the short term. when you add in the interest costs that are associated with that, it will be over a trillion dollars, which was all borrowed, borrowed money from our children and grandchildren. and you look at the percentage, as i said before, of spending a trillion dollars literally on that one program, that one policy, the stimulus program that went into effect a couple of years ago, that's literally 1,000 times more than what we spent as a nation in our first 60 years of its existence. and if we look at the projections included in the president's budget, it's revealing that it never balances, and that's due entirely, madam president, to spending. spending under the president's budget never falls below 23% of our entire economy of our g.d.p., and after 2015, it grows, there isn't a single year when the spending does not grow as a share of

government money or begging for it, it actually was dangled down in front of us in the form of fannie maeac and we they are asking for $8.5 billion. >> it is really an honor to be up here accepting an award on behalf of tavis smiley. but he makes a habit of not speaking to actual tea partiers. we spoke to his spokespeople. they said he would like to come. he is -- >> tavis smiley has a show on n.p.r., the tavis smiley show. he is such a great example of broadcast excellence as demonstrated by n.p.r.. it is the year of n.p.r., isn't it? my tax dollars and yours go to support this kind of balanced and unbiased journal isk excellence. they just hired a lobbiest last week to secure more money. >> this is a nice award but it is not his first award. apparently for three consecutive years he has received an award from the naacp called the excellence -- i'm sorry, the of course we all know what a great friend and a fair advocate for the tea party movement the naacp is. >> >> bicepping the tea party award on behalf of tavis smiley, we would like to thank him for his unwavering condominium to fair