it will be fannie mae and freddie mac.t will have down payment availability as low as between three and 5%. and what troubles me, is that it is not just lower down payments but the potential for intersecting that with consumers with weaker profiles. we've seen this movie before and it didn't end well. when you intersect both lowdown payment and weak credit profiles, that to me is a recipe for problems down the road. liz: susan, how do you see it, as somebody who has studied this very closely? i'm sort with greg. it was very hard for me to get get a mortgage recently. i wouldn't fall into the freddie mac or fannie mae parameters. make it easy for me to buy a house too. i think i had to put down 25 to 30%. >> lenders are actually with you. they're not making these loans. they are able to make loans under loser standard but they're not making them. their standards are far stricter than gses will require. this will not change. that i think down the line this could have consequences but right now the issue lenders are not makin

almost every loan today originated today either goes to fannie mae, freddie mac, or into ,ne of the ginnie mae programs fha, veterans administration program, or rural housing. government guarantees play a big role in financing housing because there is trepidation about coming back into the u.s. markets. there is some question there, but the question is what to do with fannie mae and freddie mac. several pieces of legislation have been introduced on the hill to reform them, perhaps mine them down and create new entities. that is a very active debate. the senate banking committee had a bipartisan bill that they voted to the committee as a majority which would have reformed freddie mac and fannie mae into some sort of new entity. that debate will take some time in washington. ultimately, that will need to be resolved. host: what is the difference between fannie mae and freddie mac? today.very little they were originally created as parts of the different parts of the financial system. they both guarantee mortgages and those are put into mortgage-backed securities and sold globally. watchersure

fannie mae referred close to $300,000 of its thousands of foreclosures to debt checktors.ly may declined our request to appear on camera, but did provide a statement saying we have a responsibility to pursue these cases on behalf of the taxpayer, most people who go into foreclosure do so because they have some hardships. everyone we pursue we believe to be strategic defalters. but consumer advocates say lenders are also targeting borrowers who had no choice but to lose their home. >> the deficiency judgments we're seeing is really having a terrible impact, particularly on low and moderate income communities. >> strategic defaults are really the minority of the situations we encounter in our practice. these are good people who had a bad circumstance. >> mary snow, al jazeera. >> one of the reasons courts have been flooded with new lawsuits lately is that some states have recently enacted laws reducing the amount of time lenders can sue. florida attorney chip parker is representing 10,000 borrowers in a class action suit against a texas company. and he joins me now from jack

tell it to the judge, shares of fannie mae and freddie mac both down more than 35% today. coke bowing to pressure from warren buffet announced plans to scale back its executive compensation plan into the plan was to go into effect next year. shareholders continued to criticize the beverage giant saying the awards were excessive, saying they limited the stock compensation and improved transparency. coke bubbled up a little bit to 72.74. >>> and cutting jobs as advertising revenue from the print business has gone down and as it tries to focus more of its resources on digital operation. shares of the old gray lady up 9.5% at $12.30. >>> solar making its trading debut on the stock exchange today, the company the second biggest installer of solar panels for residents in the u.s. the ceo says there is enormous potential for the solar panel industry. >>> right now we're saving customers 15 to 30% on the utility rate that is generated by fossil fuel. if you look historically in the seven states where we average, the utility increase is 6%, so given the fact that the utility rates

almost every loan today originated today either goes to fannie mae, freddie mac, or into ,ne of the ginnieae programs fha, veterans administration program, or rural housing. government guarantees play a big role in financing housing because there is trepidation about coming back into the u.s. markets. there is some question there, but the question is what to do with fannie mae and freddie mac. several pieces of legislation have been introduced on the hill to reform them, perhaps mine them down and create new entities. that is a very active debate. the senate banking committee had a bipartisan bill that they voted to the committee as a majority which would have reformed freddie mac and fannie mae into some sort of new entity. that debate will take some time in washington. ultimately, that will need to be resolved. host: what is the difference between fannie mae and freddie mac? today.very little they were originally created as parts of the different parts of the financial system. they both guarantee mortgages and those are put into mortgage-backed securities and sold globally. watchersure t

the former fannie mae executive says right now he wouldn't be surprised to see a lot of these homeowners ultimately defaulting on their own. he's joining me. tim, what surprises me about that, you can't be shopping for a home or looking for a home if you're underwater on your own. at the lower end where this is particularly acute, that means first time home buyers have nothing to buy into because these folks can't get out of the homes they're in. right? >> you're absolutely right. you can't buy what's not for sell. the problem is really exponentially worth on the lower end the. the properties that are 50,000 and below, the percentage that are underwater is substantial higher than the hundred or million dollar properties. it's making it harder to find those properties. the administration is trying to create demand then maybe we can drive the demand up. neil: what fann fannie and frede are contemplating right now, i don't think rates of zero would change that basic underwater equation. >> it takes two to tango. they will say guys don't sweat it. go out and make those loans 3 percent down.

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of fannie mae among other things. >> joe biden's son was arrested for coke on friday. he was busy with that. >> the big news of the day, this morning, what is circulating like fire is the fact that when ron klain begins his tenure, he gets closer inside the white house. he'll be working directly with the chief of staff and top counsel and we know that he was only going to be there for a year so the talk is perhaps he would inch his way into that job. >> so klain is a political hack. bernie is right. he's in the chief of staff job now to make sure biden doesn't stick his word in his mouth and he's the ebola sglr to clean you mean the image. he's like the cleaner. >> he's a political steward. >> he's like the wolf from "pulp fiction" although not as effective. >> if you look at stories, we can go he's a really smart guy. he is. he's shrewd. but if you look at the stories today breaking, he's only doing it according to sources because of politics. he wants to get closer to a plum position and adviser to president obama when john leaves so he doesn't to want do this. he's

fannie mae question declined our request, but did provide a statement saying we have a responsibility to pursue these cases on behalf of the taxpayer. but consumer advocates say lenders are targeting borrower whose had no choice other than to lose their home. >> the deficiencies that we are seeing which again, had grown in number over the recent number of years is really having a terrible impact particularly on low and moderate income communities. >> i find defaults are the minority of the situation that we encounter in our practice. these are good people who had a bag circumstance. >> mary snow, al jazeera. >> we first told you about this controversy months ago. female soccer players now suing fifa and the canadian soccer association over plans to hold the women's world cup on artificial turf. no mens tournaments are mays on fake grass, and they say that is unfair, tom ackerman with more. football is popular in the land of ice hockey, and nearly half of all players are female. all with reasons for candidate to host next year's world cup, yet plans to play and train on artificial turf

they have to sell these loans to fannie mae and freddie mac. take a look at this, when asking banks how have these new laws affected you. people with a lowify fico score, 31 percent of the time banks haven't been sure if they should give you the loan for the american dream. let's talk about this, guys. all right. we talked about the economy earlier. but the housing rebound. earlier in the year, i thought we were on the cusp of a great housing boom. all of a sudden a series of numbers out that are spooky. it doesn't even spell slow down maybe a housing correction. >> housing is not in free fall. there's no momentum. that's really challenging. a couple of things going on. standards remaining tight. we have to be careful with those fico numbers. part of the reason it goes up, younger people aren't buying home. the people who are buying homes, tend to be older. they have higher fico scores. we have very tight mortgage standards. who is bearing the risk of those mortgages. fannie mae and freddie mac have been in conservatorship. all the of the risk

"the wall street journal" says maybe his loan may be too big to qualify for backing from fannie mae andeddie mac. he has mortgaged his country but bernanke can't refinance his house. has bank regulation gone too far if even ben bernanke can't refinance his mortgage? john tweeted in to say bank regulations haven't gone far enough. there should be a mandatory down payment when buying a home. michael says the process of getting a home has gotten worse. steech, do you have a thought on the housing market and if the banks are providing enough or looser regulations to take out a loan? >> it's a business of a catch-22. you need to have some sort of lending market. i think the big chang in the u.s. remains the housing market, while having picked up from where i was a couple of years ago, the follow on this year has not been what it was last year. >>> coming up, we'll get the latest on the demonstrations after the break. ♪ mr. daniels. mr. daniels. look at this. what's this? clicks are off the charts. yeah. yoshi, we're back. yes, sir! ♪ more shipping! more shipping! ♪ [ beeping ] ♪ >>> welcome

fannie mae, freddie mac, easing credit standards to make home loans easier to get. backing mortgages that will require as little as three% down. karina, good, bad, what? >> i actually am experiencing -- it's very difficult for borrowers on all different levels to get financing because of the requirements. so, freddie mac and fannie mae announcing they may loosen the credit limits and the down payment, i don't know if that's such a wise idea because you're giving the ability to somebody who doesn't have enough money to make a down payment to purchase a home and that's how we got in this mess. there's a huge disconnect. i'm experiencing people with far superior assets and a very steady income, still encountering issues getting loans or being able to refinance. so i just don't think it's going to be a huge game-changer. i understand why they're doing it also because they're trying to encourage more of the first-time home buyers enter the market but it's such a low -- >> banks are not going to lend to the -- because they're too much of a risk. if fanny and freddie are b

the down payment required for new borrowers and lower credit score requirements and also known fannie mae has actually said if you went through a short sale you may be able to qualify for a loan as soon as within two years of that hitting your credit report and regulators are now considering a plan where banks would not have to hold loans on their books as long as the borrowers could actually repay the loan, they could verify that, and the borrowers debt is less than 43 percent of their income. >> glor: if some of these loose policies are what led to the financial crisis in the first place, why are the rules changing again? >> well, the fear is that the sluggishness of the housing recovery is partially due to the fact that it is hard to get a loan, and the theory is if we loosen these requirements perhaps we will get more first time buyers into the market and we will also get something called boomerang buyers, that is three and a half million people who went through foreclosures between 2006 and 2010, three quarters of a million who went through a short sale that will will get those peopl

i don't want a fannie mae pullback. >> those are incredibly speculative stocks. yesterday the common and preferreds got completely crushed, but why do you think that had a broad impact on the market? market capwise, there is not much there. >> did you see the volume? there are a lot of people who have been speculating whether it be fannie mae or gopro where there is unlocking of stock. >> 5.8 million shares of gopro unlocked, earlier than anticipated. >> speculators are coming back immediately. tesla, netflix. i don't want to see a lot of speculation. yesterday one of the things that bothered me and i like this group and think it is a buy, the defense stocks got killed. you read the paper. there is no way our defense budget can stay as low as this. it just can't. you may think that is wasteful spending, whatever. those stocks got hit. they have a great secular growth story. the world has changed. there was a great piece today about russia and putin. the putin biography is selling well in china. i remember 1950/'51. that's the last time those guys were buds. we do

fannie mae and freddie mac are making an effort to lower them to help people with poor credit. it is believed to help banks protect themselves. >>> the highly stylized tv ads that show matthew mcconaughey have given lincoln a boost. they had a 30% increase over the same period last year. two years ago, ford considered shutting down lincoln for good. >>> after successfully testing its driverless car, audi put the car through nor intense challenges this weekend. the car hit 140 mile an hour. controlled only by computers. the idea was to see if it could negotiate curves and corners without skidding and going off track. i wonder if it has heated seats, too. >>> "gone girl" finally out of the top spot. what did that? brad pitt's drama, "fury." it earned $34.5 million in ticket sales. >> gone girl went to second and book of life was third. >>> a hero carries man from a burning building. we have that rescue on camera. plus, one thing about what happened that still remains a mystery. >>> and a come covered in soot, hoisted from a chimney. why she's put in handcuffs after being pulled t

he is also a former fannie mae lobbyist. does that qualify him?hite house into backing solyndra. he told the white house look, i know it's risky. i know it's a risky venture. you know what? good companies take risks. >> one thing on resume very significant. former aid to joe biden. is he used to cleaning big messes. at least that has given him some experience in dealing with a disaster in trying to figure out how to clean up, you know, something of gargantuan proportions. >> republicans or democrats are saying wait a second is. you had an opportunity to push through our surgeon general. we had an appointment a year ago. being held up in the senate. we would have a surgeon out there generalizing. >> which is exactly what they do by the way. >> not that there is not some role for a surgeon general. in this it's not about having an individual. it's about having a strategy. it's about reacting to a crisis that you didn't see coming. you can't always see the crisis coming. but, once it comes, then you need to have some response that shows leadership an

. >>> meanwhile, mortgage giants fannie mae and freddie mac are close to a deal with enders that would greatly expand credit to would-be home buyers while protecting the same lenders from allegations of making bad loans, over the past ten years they have caused penalties because of under-writing loans sold to the guarantors, lenders have blamed them for forcing them to have tighter credit restrictions. >>> and members of the federal reserve, will the fed re-think what to do about the bond-buying program that sounds like a cruise ship? qe 3, steve liesman has more. >> recent market turmoil, low inflation and global economic weakness prompted the federal reserve to end the bond buying program at the meeting just two weeks away. there is something within a public disagreement within the fed on the matter. eric rosengrant in an interview suggested the fed is likely to follow through on plans to end the easing program otherwise known as qe later this month. >> we've made a lot of progress in labor market, we're at 5.9% on the unemployment rate, much higher at the outset of the program. the

fannie mae, freddie mac, and private mortgage lenders are nearing a deal to lower restrictions on borrowers with poor credit. an agreement could be announced this week. it is believed to help banks protect themselves. >>> the highly stylized tv ads that show matthew mcconaughey driving a lincoln have given the carmaker a much-needed bolt. lincoln said it sold more than 65 thourk 65,000 mkc's this year. it was two years ago parent company ford considered shutting down lincoln for good. >>> after successfully testing its driverless car, audi put the rs 7 performance car through more intense challenges this weekend. the automaker says the car hit 140 miles an hour, controlled only by computers. the idea was to see if it could negotiate curves and corners without skidding and going off track. i wonder if it has heated seats, too. >> that's all that matters, right? >>> at the weekend box office, "gone girl" finally out of the top spot. what got it out of the top spot? brad pitt's drama, "fury." this bloody thriller earned $23.5 million in ticket sales. >> "gone girl" dropped to second, with almo

this is how fannie mae and freddie mac went under.s is the process that scares people. >> aig has nobody to blame except themselves. the federal government didn't want to put $182 billion of taxpayer money at risk. for aig and mr. greenberg to say, gee, these terms are too onerous. >> they could have followed the process. >> follow due process, absolutely. if you didn't give them the money they're gone and god knows what happens to the economy. for them to be complaining -- >> i agree on the complaint and there should have been a better process. the reality was aig was being downgraded. because it was downgraded it could not ensure all of the contracts it had with the largest banks in the company and their co-dependent banks. the first chunk of money went to pay off the margin calls to these banks. >> exactly. >> it was a funneling through the banks. that should have been considered. the whole thing should have been considered. >> that is my point. in my view, aig first and foremost, everybody for the money through aig. that doesn't i

. >>> and fannie mae, freddie mac and private mortgage lenders are reportedly close to easing restrictionsn borrowers with poor credit. the "wall street journal" says fannie and freddie are considering a program to allow lenders to offer mortgages with down payments as little as 3%. >>> and ford is developing a car seat that can detect whether a driver is having a heart attack and then safely stop the vehicle. the "financial times" reports the seat monitors the cardiovascular system for any issues and uses a camera to track head movement and sensors on the steering wheel. ford's production team says it could scale up production on the new seat in the next five years. back to you. >> kate rogers with cnbc, thanks. >>> now your nbc 10 first alert weather. >> it's frosty this morning. the temperatures plummeted overnight. most of the area is in the 30s, and a few spots are below freezing. right now here at nbc 10, 40 degrees at 5:26. katy zachry has traffic this morning. hi, katy. >> hi, bill. for drivers with king of prussia as part of their commute, this is a look at 202 right near i-76. no

are new rules in place to reduce the risk that banks will have to repurchase bad mortgages from fannie maend freddie mac. are those changes enough to relax credit standards and get potential first-time buyers up the sidelines -- off the sidelines? >> it's not a bad thing. loosening the credit standards is not a bad thing. fha has been offering similar types of mortgages for the past several years. it's not a new product in the marketplace. the cheap issue -- cheap issue has to do with putback's and the reps and warranties issues. they are afraid they might get stuck with the mortgages beard bank. it's really just something that will have to heal. >> how doesn't zillow think housing will shape up at the end zillowyear? -- does think housing will shape up at the end of the year? >> we believe we are going to see positive home price appreciation. about half the pace of the past 12 months. look for 3% gains in real estate. that is a good thing. more of a historically normal pace. >> stan, good to see you. up next, matt miller has the latest on the markets update on trading. amazon needs your h

that's where it was. >> you've got fannie mae paying you $126 billion.y obligation was for $116 billion. can this continue, or are you going to make it so -- or do you recommend, because i know it's congressional, that the preferred be made good and even the common stock be made good because treasury's gotten all its money back? >> i think if you look at the most recent exposure report, stress test reports on the gses, it shows that in a crisis, the exposure would still be to the taxpayer, and it would still vastly outweigh what current profits are. i think as long as u.s. taxpayers are on the hook, it is appropriate for us to stay in the structure of conservatorship that we're in. what we need to do is get on with housing finance reform. we need to have a clear plan for future that circumscribes the taxpayers' exposure in a very limited way. and the sooner we do that, the better. >> told you to sell them. >> meanwhile, the sweeping of these profits from fannie and freddie is having a discernible impact on the budget deficit. we're talking tens of billio

fannie mae and freddie mac are asked acted to relax some of the rules on lending this week for riskywers. can forgetone of us that loose lending standards are what helped to lead us into the financial rice is. peter cook has all the details. this. i cannot believe are we really going here again? prettyre, but it seems clear from those familiar with what is happening here is that this is not a return to the no doc liar loans of the housing bubble. according to people who support the effort it is an attempt to loosen the rules that have frozen out people from owning a home, that the pendulum has swung too far and it is time to make modest adjustments. fannie mae, freddie mac, and most importantly the federal housing finance agency is close to clarifying with issuers which loans are so flawed, so bad, that the risk of having to buy them back from the finance giants if the borrowers default -- but the flipside is which ones protect them from buyback? from keeps them considering anyone with a marginal credit record. theie and freddie with blessing of fha may allow borrowers to put down as

i interviews jack lou about fannie mae stock. yesterday, a judge agreed that the stock got killed. those owners are hurting and they could be selling to meet redemptions by the end of the year. others remember octobers of recent past and they think this is a month where you could have horrendous stock selling. for some, they should not be sold but they will be sold nanny, and there is a third group that will fall because they're about to have earnings short falls. i have been sounding alarms on these for weeks. i hope you will cut back, i don't want you to lose money. the stocks that don't deserve to go down but are going down anyway, they're going to bottom fe first and they can be picked at. i think we're getting close to the level at the end of the day where there are many stocks that could be bargains. we got this employment number on friday, i would like to see it. i think everything is going down for now. now hurry. i sense there will be time to buy the good ones. so here is the bottom line. don't panic in the face of this nasty correction. it is realistic to expect a further

lending giants fannie mae and freddie mak have unraveled recently. >> the second dow patient identified with ebola has been identified as amber wilson. she's been transferred to atlanta. she was moved from cleveland to dallas on monday, the day before testing positive. reports say she told the cnbc her temperature was 99.5 degrees, below the agency's threshold so she wasn't told she could not fly. but the cdc says the chance other passengers was affected were minimal, but reports say the crew has been put on three weeks leave. >>> ordering the government to respond more aggressively with a cdc s.w.a.t. team dispatched to any place there is a case. the chances of an outbreak in the u.s. is very low. >> these protocols work. we know that because they've been used for deckads now in ebola cases around the world, including the cases that were treated in emory and in nebraska. so if they're done properly, they work. >> congress is holding a hearing today on the u.s. response to ebola. cdc director tom freed sxn other health officials set to testify before the house oversight committee at noo

aei also has railing against fannie mae and freddie mac. you have her chief economist peter bush for the ethanol subsidies. so in every corner -- not every corner, there is some organizations bought and paid for by boeing and lockheed martin but there are coming you can see some mobilization against corporatism thanks in part to the bailout. i i think fdr doesn't get in the scrutiny entry into. ft argues the national recovery act which is a government enforced cartel businesses that crush small business. schechter brothers were the two brothers who want a jewish deli poor abused by the nra. at roscoe phil burton. might've heard his name during the obamacare mandate debate because what they did it so you're not allowed to grow corn for yourself. you have to be putting it into the economy because the article trueness treated like people doing that. ralph, you do a good job of pointing out a left and right are people who are principled and people who basically are either corporatists were partisan. but sometimes you miss how the liberal games

aei also has railing against fannie mae and freddie mac. have her chief economist peter bush for the ethanol subsidies. so in every corner -- not every corner, there is some organizations bought and paid for by boeing and lockheed martin but there are coming you can see some mobilization against corporatism thanks in part to the bailout. i i think fdr doesn't get in the scrutiny entry into. ft argues the national recovery act which is a government enforced cartel businesses that crush small business. schechter brothers were the two brothers who want a jewish deli poor abused by the nra. at roscoe phil burton. might've heard his name during the obamacare mandate debate because what they did it so you're not allowed to grow corn for yourself. you have to be putting it into the economy because the article trueness treated like people doing that. ralph, you do a good job of pointing out a left and right are people who are principled and people who basically are either corporatists were partisan. but sometimes you miss how the liberal games are

fanny mae and fred'sy -- freddie mac may offer mortgage with down payments with as little as 3%. it would loosen the lending standards adopted following the financial crisis. >>> stocks end on a high note. the dow gamed 63 points. snapshot has plunged into the ad game. it featured its first add a 20 second trailer for the new horror movie ouija. they wrote a blog post informing users it's on its way. >>> matt that you mcconaughey is in a commercial pitching lincoln appearing suv. it's a breakthrough as holey wood a-list have been cautious against celebrity endorsements. ful. >> mcconaughey is on top of his game. he has the whole thing down and that voice! >> [laughter]. ice in the arctic. >> reporter: wow, tam. well it's chilly and it's going to feel like the arctic out there this morning. storm tracker 6 live double scan shows us we're dry, live on sky 6 we're looking at the airport. any of the workers if we had a closeup shot you would see frost coming out of their mouth. 42 degrees if philadelphia. up in allentown, 37 in trenton, in wilmington and reading. 32 on the nose in mi

we learnt that fanny mae will let some borrowers put as little as 3% down on a mortgage.he government is trying to encourage banks to issue more loans. freddy mack is expected to follow suit. these low-money down loans are potentially dangerous and could encourage people to bite off more than that can chew. in response to concerns the regulator said if they are sold bad loans they can force banks to buy them back. >> next, imagine turning your tap for a drink of water and nothing comes out. that is happening in one town in california. the drought turned wells dry and residents are forced to take drastic measures. i'll take you there when we come back. >> on al jazeera america, >> a team of scientists are taking their inspiration from nature. >> technology...it's a vital part of who we are >>they had some dynamic fire behavior... >> and what we do.... >> transcranial direct stimulation... don't try this at home! >> tech know's team of experts show you how the miracles of science... >> this is my selfie... what can you tell me about my future? >> ...can effect and surprise

it is in the hands of fannie mae and 6000 spiders took over the home. >> time for a final check of thegents began to take the temperatures of passengers arriving in new york jfk airport. isis controls half of kobani. roughly fro air strikes in the past four days and kurdish forces are out gunned and hoping 7ñ more help to sav >> and a popular photoapp. there is hundreds of thousands of photos. earlier we asked how secower you feel about your on line information in the wake of the security breaches. i read on my app. cut government, i would think twice about storing sensitive information on line or in'q cloud. you don't put intimate photos on line ever. no system is bulletproof. >> i never found the appeal of sending items for a second. i will so you next week end. >> president obama and nancy pelosi and harry reid are toxic and democrats are running from them instead of with them. we'll tell you why. shocking details of how far the irs will go to make your life miserable. and bill afmrek and bill ma hr talk about the islamic culture. tonight we'll meeted who survived radical islam and

we learnt that fanny mae will let some borrowers put as little as 3% down on a mortgage.he government is trying to encourage banks to issue more loans. freddy mack is expected to follow suit. these low-money down loans are potentially dangerous and could encourage people to bite off more than that can chew. in response to concerns the regulator said if they are sold bad loans they can force banks to buy them back. >> next, imagine turning your tap for a drink of water and nothing comes out. that is happening in one town in california. the drought turned wells dry and residents are forced to take drastic measures. i'll take you there when we come back. >>> just how bad is the drought in california. well, be glad you don't live in east porterville, a town in the sierra foothills, north of bakersville. the taps ran dry, forcing residents to rely on drastic measures like having drinking water delivered. joining us is jennifer london, who visited east porterville to see how the residents are getting buy. >> residents in east porterville are barely getting by, there's no water

they came across on the fannie mae/freddie mac case. they came across on the pfizer/shire deal, with the pimco deal. that caused a derisk and a chain iraqi. in terms of the economy and fundamentals, earnings, there is no reason for markets to -- at all and hence they bounced. >> max, thank you very much for now. max will stay with us for the next half an hour. let's get you a run down on of what to watch this trading day. we'll get more guidance on the state of the u.s. economy from the latest figures on jobless claims as well as gdp. also, we get earnings reports from conco, mastercard, kellogg, starbucks, gopro and linkedin. >>> before we head to the break,ite was an action packed series for baseball games last night with the san francisco giants winning the world series during game seven. the defeat over the kansas city royals went down to the wire. bottom of the nine with two outs and a run on third, it's popped up. sandoval was under it in foul territory and finally, he has it. the victory marks the giants' third title in five year

the people who own fannie mae that day was a bad day.annie mae blew up a lot of hedge funds. >> you were right. that was a bad, bad day. >> that was hedge fund liquidation you felt the rest of the market finish yesterday. this is going to make it so hedge funds in panic on these issues will feel emboldened. when buyers are not under liquidation strain, you are going to see a better market. we underestimated the power of a couple of big hits to hedge funds who are just like levered to the gills. >> i agree. you said it the other day. i said really? the market caps? >> natural gas. there is a hot money and a bunch of different trades. it's just blowing up, iron ore, that gas, hot money. see you later. >> let's get back to the jobs number this morning. the rebound, of course, in large part due to that. the jobs number for september well above estimates. 248,000 jobs added. unemployment rate down below 6% the first time since the middle of '08. let's get the first reaction of the white house. jason furman, chairman of the president's council

government-backed agencies like freddie mac and fannie mae is what contributed, but lehmans pedalled ... america. i don't see why an elective college course on abortion should disallowed. calling it propaganda was speculative and i thought you didn't deal in speculation, bill? come on, you get the pinhead level. contains no scrutiny of the abortion industry whatsoever. also a fact, california taxpayers are funding it including those who oppose abortion. that's wrong on every level. killing patton is a great book but caused me to lose respect for dwight eisenhower. had to make -- in order to keep allied forces united. did some personal things that are not all admirable but human beings are all. on behalf of my late father, sergeant john jordan, thank you for writing killing patton. dad served in the third army during the battle of the bulge and said many times he did not believe patton's death was accidental. thank you. tip of the day, here are four words that i overuse in my house. turn the machines off. what a struggle. the urchins can't get away fwr these things. they totally domin

other hedge funds were crushed when a federal judge ruled fannie mae profits stay with the governmentnd others specialize and were crushed by tax inversion derived mergers. when the smoke cleared on the issues the stock market rallied. that's what happened. understand i am not being cynical and i play pin the tail on the hedge fund. history says that in times of real stress the hedge funds can play a much bigger role than the fundamentals when it comes to the stock prices you see on your screen at the close of the market each day. brian in texas. >> caller: how are you doing? from dallas, texas. >> how about you. >> caller: doing fantastic. inquiring about j.c. penney i was curious what you think. >> i some surprised that stock pulled back the way they did. i think this is a great level to get into j.c. penney. you are all emersed in your work and i didn't see the stock had gone down below 10. i should have said buy, buy, buy. >> caller: doctor cramer, bank of america. >> what can i say? this is finally happening. the government is out of their face and they have finally settled a lot

lehman brothers had gone into bankruptcy the day before, and fannie mae and freddie mac has gone intorvatorship earlier, and hank pahlsson -- they all testified that they were worried about harm to the overall economic system. >> it has been a who is who on the stand. i want you to tell me about edward quince. >> yeah, that's just apparently the way of reducing the amount of email. this is a way of reducing the amount of email that bernanke got by having certain people in the no. send an email to edward quince, so he kind of had a smother email traffic. >> so ben bernanke, aka edward quince. >> that's right. >> andrew thank so much. >> thank you. bye-bye. >>> coming up big spendingers are getting into small town politics. plus what is tesla's man of mystery have up his sleeve? we'll tell you. ♪ >>> n wa wa stat jshgs rich doen ar s snchl [ technical difficulties ] >> some experts estimate up to $2 billion could be spending in outside money during this election season. well, america's first name in online shopping reportedly plans to open a real store. the wall street journal says the

if the banks have to loan to fannie mae that means nothing. they might have to cough up the loss anyway, pull back, claw back. nobody who needs a loan can get one. i don't know about retail. we have a terrific number out of costco. yesterday container store collapsed. tonight gap real dad. my thinking here i think we are witnessing the sears which seems like it could be on the last legs and the winners looks like anyone who looks like sears. retail seems zero sum to me. sears has $34 billion in sales. you think lower gasoline prices would mean more to the group. finally, we have the international companies based here. this cohort has been hammered until today. i think that is because of the new ford motor syndrome. back to the beginning of the year ford looked like the stock you most wanted to be in for 2014. a gigantic turn in europe because of lower rates there. a strong surge in latin america, come from behind victory and improving victory. plus we had a strong euro and not that strong a dollar. so currency can be a tail wind. now, every si

freddie mac and fannie mae are lowering restrictions on borrowers with weak credit and down paymentshe financial crisis in 2008, lending standards became tighter and made it harder to qualify for mortgages. the deal later this week could raise concerns of repeating mistakes that led to the housing collapse. >>> apple pay is here. the new mobile payment system let's shoppers buy items at 220,000 stores using iphone 6 or 6 plus. the three banks and credit card networks like mcdonald's and whole foods. does this mean the end to the traditional wallet? many like walmart are not on board yet. apple pay is here. >> interesting. i don't know if i want to use it. i have my phone and i have my wallet. i don't think it is that big a deal. >> do you carry money? >> not right now. do you need some? i can go back to my office. >> do you carry money? >> very rarely. >> i don't have any money. >> i don't know what you need. >>> early start continues right now. breaking overnight. quarantine over. family and friends of the first ebola patient in the united states declared disease free. now, though,