so the main culprit of your story is fannie mae, right behind you there. why fannie mae? >> it was a primary mover, a first mover in the process to relaxed lending standards, to go downhill into the sort of sub- prime morass that really got us into trouble. and it was able to wrap itself in the american flag of homeownership and capitalize on itgreat and lucrative government subsidy. >> reporter: how does the government subsidy work? i mean, it isn't the government actually giving money to fannie mae, is it? >> fannie and freddie were given a lower... a lower borrowing rate in the markets by investors who always assumed that they were government-guaranteed. >> reporter: lower borrowing rates because those investors who lent fannie money to buy mortgages believed, if it couldn't pay them back, the government would. and in fact, the government did after fannie's failure in 2008. those lower rates amounted to a $6 billion subsidy, say the authors, much of which went toward enriching fannie mae's shareholders and executives, and lobbying against constraints. >> they generally

uy stock in fannie >> they were public companies.hat was one of real issues who managed that company had a mang sure @@th shall@we say t the loans about od loans. they were giving the loans to eve"ybody. do that. ess pressedthem to t it tued intoa hu multi- -- >> it's a capitalistic enterprise.@ they wan(ed to make money. >> 9es, but it was all with governnt money. that's the proem. >> making money on $he rket. >>tha$'s correct. >> n't that an oddity? disgrace in tes. y itorked t. >> 'hy, because@it was missing? because the9 had an incentive to improve the stock price and not worry abour -- >> by making all ese loans huh short-term profits and long- term losses. you were able to book gains in the short run, and so many of these -- millions -- [everyone talking at once] >> why are we talking @@about this? why? >> beuse wall street wts to make it look like fannie and freddie re the drivers behind the mor$gage collap, when in fact wall s$reet d the way basically caught up. i think fannie and freddie@were the product of government policy

fannie and freddie were a partner in that, and as much as fannie and freddie were at odds in many ways with the investment banks in the private market, they also had a partnership with them. so what you saw was fannie and freddie by 2000 was innovating low down payment programs, was innovating the move from traditional underwriting where you would walk into a bank in your community, you'd look that banker in the face, he would look at your credit history, he would look at your employment history, he would look and think about the regional economics of the community in which you were borrowing and where your job was, and he would make a loan decision. and fannie and freddie realized for efficiency in an instant gratification world, we can move to automated underwriting, we could really change the structure and dynamics of the housing and mortgage finance system. and they did. and we're here. and so even now as we're watching the discussion about, under or dodd-frank there's a rule on risk retention where any securitizations the issuer and/or the originator are supposed to hold proportio

they were visited by fannie mae executives.e o'kneel, the head of cbo said they felt like they were visited by the mafia and pressured to try to water it down, not to produce this report that was very explicit about how much the government guarantee was worth to the company and how it all costs they had to protect it. we have cbo people standing up against the pressure from fannie mae. are other -- there are other people who saw what was coming. people in the georgia area, first to wave the flag and call out the rating agencies for inserting themselves in a process where jazz had the toughest predatory lending law in the country, but the ratings agencies walked in and said we will not rate any securities that contain georgia loans and so all of that predatory lending law had to be gutted because the ratings agencies said they would not rate those lopes so we had people along the way who were jumping up and down and warning so there's heros in the book i'm glad to say. >> thank you. >> you make a strong case for the central role

fannie and freddie were smack in the middle of this.ok the two firms with public government backing. they went from just a little bitty players in the early 1980's to at the time of the crisis they owned 50% of mortgage market, $5 trillion of mortgage debt at risk with little capital underneath it and we're paying for it. you're paying for it. i'm paying for it. the audience is paying for it. >> jon: the idea is that the trick they were pulling was they go to congress and say, don't worry you're not on the hook for this. and they would go to wall street and say don't worry congress will pay if this goes south. >> that's exactly correct. they were a private firm. they make the profits but the rest was borne by the taxpayer, again, all of us, you combine those together it's a nasty mix. >> jon: how do they privatize profit. i'm curious as to how profit gets privatized and losses get socialized. how does that seem to work? >> they're guaranteed to fail. they have no capital underneath them. they control a huge amount of mortgage market. if

fannie mae and freddie mac. i am impressed with the on- again, off-again nature of this with my colleagues on the house. my republican colleagues in the house talked tough about fannie mae and freddie mac when they were in the minority. when they are in the majority, something happened. they are affected by a strange kind of paralysis. last year when we dealt with this bill in conference, the republicans offered the hensarling bill, as amended. we said it was not germane. we it has been seven months into the session with republicans in the majority. arling is a member of the majority. said. what mr. bauchus we would like a comprehensive bill. can we get a comprehensive bill? i do not think so. republicans in power in the house are much less certain. where are we? i will say i am somewhat embarrassed by this failure of memory, once he became a member of the majority. the gentleman from alabama blamed the obama administration. i feel like humphrey bogart, when it comes to fannie mae and freddie mac, republicans ca

as a financial analyst at fannie mae. as a libertarian, i have no objection whatever to his preferences. i have a serious objection to corruption. we are talking about it deeply, deeply corrupt man whose corruption very nearly destroyed the world. another villain from atlas shrugged, alive and well in our world is alan greenspan. no wet character is alan greenspan might? anybody remember dr. robert stadler? a very key character. he is one of two college professors to the young john galt. when galt was still a young man, statler left academia to fund the state science institute. so he could do his experimental physics, theoretical physics for you to grab supportive capitalists of people who pay tuition and things like that. john galt disowned them. he damned him. now at the climax the world totally goes down the drain, the claim that extremism in the government, have been expropriated dr. statler cirque and physics to create a weapon of mass destruction, the weapon almost accidentally detonate the doctor staffers present i

guess who was getting money from fannie mae? the max.i as a home, there are things i'm supposed to do. like, keep one of these over your head. well, i wasn't "supposed" to need flood insurance, but i have it. fred over here chose not to have it. ♪ me, i've got a plan. fred he uh... fred what is your plan? do i look like i have a plan? not really. [ female announcer ] only flood insurance covers floods. for a free brochure, call the number on your screen. >>> well, the republican presidential fight is a long way from being over, but mitt romney may be acting like he's got it wrapped up. at a ound-raiser, romney talke about the short list for vice president. he named senator marco rubio, governor chris christie and virginia governor mark mcdonald. >>> a source told politico that romney wasn't revealing his own list, but listing obvious contenters. yeah, right. we'll be right back. you name it. i've tried it. but nothing's helped me beat my back pain. then i tried this. it's salonpas. this is the relief i've been looking for. salonpas has

gay lovers as a financial analyst at fred -- fannie mae? as a libertarian i have no objection whatsoever to his sexual preferences. i have a serious objection to corruption. we're talking about a deeply, deeply corrupt man his corruption's very nearly destroy the world. another villain is alan greenspan. what character is alan greenspan light? anybody remember dr. robert sadler? kind of a minor character, but a very key character, one of two college professors it was a mentor to young john glat. wind john glat was still a young man he left academia to found the state science institute said that he could do his experiments in physics from a theoretical physics three of the privy support of capitalists and people who pay tuition and things like that. and john glat disowned him, he damn time. now, at the climax when the world finally totally goes down the drain the climactic scene is when the government's having a big star braided his work in physics to create a weapon of mass destruction, this weapon almost accidentally detonates. the descrip

i want to talk about fannie mae and freddie mac. i am impressed with the on-again off-again nature of this with my colleagues in the house. my republican colleagues talked tough about fannie mae and freddie mac when they were in the minority but when they are in the majority something happens. they are affected by estranged plurality with responsibility. i say that because last year when we dealt with this in conference the republicans in the house offered the bill -- total abolition of fannie mae and freddie mac with no attention to its success. they said it wasn't germane. almost seven months into this session with republicans in the majority, a member of the majority and subcommittee chairmen haven't offered -- we had a discussion of smaller bills in the wall street journal. said. what mr. bauchus we would like a comprehensive bill. can we get a comprehensive bill? i do not think so. republicans in power in the house are much less certain. where are we? i will say i am somewhat embarrassed by this failure of memory, once he becam

fannie mae and freddie mac. >> start with freddie and fanny.ros its would be put on an auction block and sold to the highest bidder. minimum bid, 50 cents. >> but without fannie and freddie, bachmann couldn't have bought her 5200 square foot house on a minnesota golf course. washington post huff reports balk maen and her husband signed a $417,000 mortgage in 2008. backed by either fannie mae or freddie mac and they have steadily attacked freddie and fannie ever since. >> there is an assurance that this would be the back stop for feddy and fanny. that's part of the problem. we want to see freddie and fanny put on the auction block, divide up and sold off. >> this is not the first time bachmann tried to have it both ways when it comes for government spending. bachmann calls for cutting medicaid but her husband's counseling clinic has over $160,000 in medicaid funds and other government money. while bachmann says she wants it farm has gotten $260,000 in federal subcy dies. bachmann claims to hate government spend bug she is more than willing to ta

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fannie mae and freddie mac. i am impressed with the on- again, off-again nature of this with my colleagues on the house. my republican colleagues in the house talked tough about fannie mae and freddie mac when they were in the minority. when they are in the majority, something happened. they are affected by a strange kind of paralysis. last year when we dealt with this bill in conference, the republicans offered the hensarling bill, as amended. we said it was not germane. we it has been seven months into the session with republicans in the majority. arling is a member of the majority. said. what mr. bauchus we would like a comprehensive bill. can we get a comprehensive bill? i do not think so. republicans in power in the house are much less certain. where are we? i will say i am somewhat embarrassed by this failure of memory, once he became a member of the majority. the gentleman from alabama blamed the obama administration. i feel like humphrey bogart, when it comes to fannie mae and freddie mac, republicans ca

fannie and freddie our government guarantee. they own the credit for us already. bank of america the likelihood is your contractors mortgages not even held by bank of america. it's held by mortgage-backed and those investors have to be considered. bank of america is a surface or who also owns the largest portfolio of second liens and home-equity lines and so there's risks to them on that depending with the door on the first mortgage and so you're right that this is a problematic situation and the government isn't interested in dealing with it but one of the things they are not willing to deal with is before you can have in the example bank of america treat the borrowers well, they need to be armed conflict in the relationship between the second liens they hold on the balance sheet and first liens have a service for people like the contractor. >> thank you. >> i have a couple questions. right now what looks like fannie and freddie might be profitable by the industry to of going into 2013 setting aside the 10% dividend they might own to the treasury, and at that poi

fannie mae and freddie mac. i am impressed with the on- again, off-again nature of this with my colleagues on the house. my republican colleagues in the house talked tough about fannie mae and freddie mac when they were in the minority. when they are in the majority, something happened. they are affected by a strange kind of paralysis. last year when we dealt with this bill in conference, the republicans offered the hensarling bill, as amended. we said it was not germane. we it has been seven months into the session with republicans in the majority. arling is a member of the majority. said. what mr. bauchus we would like a comprehensive bill. can we get a comprehensive bill? i do not think so. republicans in power in the house are much less certain. where are we? i will say i am somewhat embarrassed by this failure of memory, once he became a member of the majority. the gentleman from alabama blamed the obama administration. i feel like humphrey bogart, when it comes to fannie mae and freddie mac, republicans ca

. >>> fanny lu re aparece en premios juventud y hablamos con su estilista ahora mismo en primer impacto> yo creo de aquí a 45 días puede haber reconciliación. >>> predicción de una psiquica, con sus augurios nos revela el futuro de la pareja. hola, les saluda pamela silva conde bienvenidos a "noticiero telemundo primera hora," gracias por estar con nosotros más adelante verán qué le pronostica una psiquica a j.lo y marc anthony. >>> pero antes comenzamos con la brutal golpiza que recibió un secuestradores en perú cacasseco por el crimen que cometió, raptó a la hija del dueño de sólo 6 años loreto vieron y rescatar a la inocente que está fuera de peligro. >>> batalla campal también en perú funcionario de un colegio que no tenía permiso para operar, las emprendieron contra los periodista, uno de los agresores intentó quitar la cámara a pesar que ta ban fla vía pública. >>> y violento el enfrentamiento entre pobladores y agentes del orden en méxico, 150 personas bloquearon el paso en transita das vías por no recibir ayuda de autoridades tras una severa inundación, los residentes, aseguran

nos acompañó dices el martes desde la alfombra azul han dado mucho de qué hablar los atuendos de fannyiticado este look de fanny lu aparentemente no gustó mucho cuéntame? >>> tengo claro, muy buenas miami, cuando fany me llama y dice vamos a preparar algo me dicen qué tipo de show es, me dice un show de música, un show de juventud y es en miami pues yo digo, muy cantante, música, cómo mtv una cosa así, entonces esa es la idea >>> llamar la atención es lo que tú que rrías >>> ella está haciendo un personaje no está yendo de compras lo primero que le dije te van a criticar, porque no estamos la comunidad latina es como si alsalma hayek va a méxi la critican no la alaban, tenemos esos los latinos. para mí una ofensa dirían que estaba fea no han dicho, la compararon con lady gaga, ella gasta 2 millones de dólares y ella no se siggastó esto. >>> la comparan con lady gaga y hubiera son pr hubieras sorprendido con algo diferente, quizás hacerlo ee un look como lady gaga, porque cuando ella salió la comparó con madonna, esta es una fany no estamos acostumbrada a verla haciendo un soul como est

one thing we need to remember is that fannie and freddie were the epicenter of the financial meltdown. i sat on the financial services committee, and i watched as this occurred. what's important is that we do dismantle a number of these federal programs that everyone agrees are clearly out of control. and don't forget, not only is the federal government virtually taking over this entire industry, take a look at the student loan industry. about 25 years ago or more back when, back -- maybe even in your time when you were in college, 25 years ago or so almost all student loans were private. today 100% of student loans are government. now, this is not a good scenario. the federal government continues to insert itself into fulfilling a proprietary function that the private sector should fulfill. this is the problem. this is an intervention by the government, ask it's altering the marketplace -- and it's altering the marketplace. we need to get the federal government out of these programs and out of these loans. >> you've talked a lot about how your faith is important in your life and for

>> well, as far as fannie and freddie are concerned there's a trade off their. between supporting the higher priced homes and weaning the system off of an unusual limits are put on during the crisis. i understand that the private sector is taking come at least a significant number of the so-called jumbo mortgages, but maybe the higher costs. so it's a bit of a trade off there. i don't really have an answer other to say we have to get our housing finance system back into working order. >> thank you. mr. westmoreland. >> thank you, mr. chairman. mr. bernanke, you made a statement that not raising the debt ceiling was like going out on a spending spree, and then not be willing to pay your bill. with these people with a spending spree draw and not understand they eventually would have to pay it back? >> i don't know. spiff the point was that debt is to pay for tax decisions and spending decisions the congress has made and the president has signed and is already been implemented. >> because i know the debt ceiling was raised in june of 2010, after a spending spree of

fannie mae and freddie mac. i am impressed with the on- again, off-again nature of this with my colleagues on the house. my republican colleagues in the house talked tough about fannie mae and freddie mac when they were in the minority. when they are in the majority, something happened. they are affected by a strange kind of paralysis. last year when we dealt with this bill in conference, the republicans offered the hensarling bill, as amended. we said it was not germane. we it has been seven months into the session with republicans in the majority. arling is a member of the majority. said. what mr. bauchus we would like a comprehensive bill. can we get a comprehensive bill? i do not think so. republicans in power in the house are much less certain. where are we? i will say i am somewhat embarrassed by this failure of memory, once he became a member of the majority. the gentleman from alabama blamed the obama administration. i feel like humphrey bogart, when it comes to fannie mae and freddie mac, republicans ca

when he left, airport screeners found a .32 caliber bullet in his fannie pack.ke. he joins us now from kansas city. good morning. >> good morning. >> how did this bullet end up in your fannie pack? >> i really do not know. it should have been in a magazine, it should have been put away when i got home from the hunting trip or the shooting range. >> ok, so you wind up -- you leave kansas city. and you go down to the bahamas. oh, there's the bullet right there. a bullet like that. right? >> this is the exact replica. >> .32 caliber. so the story is you were in kansas city, you flew to the bahamas. tsa in kansas city didn't find anything. that didn't show up that was in your fanny pack and you get to the bahamas and go scuba diving and on the way out, their security people find that. what did they do to you? >> they told me to step aside and i waited and they immediately turned me over to the bahamian police. >> where you stayed in jail for how long? >> four days. >> so obviously, you had no idea that that little .32 caliber bullet was in your fanny pack. it was fr

because a year ago, the republicans knew exactly what to do about fannie mae and freddie mac. that was over a year ago. today we haven't even had a hearing. republicans knew exactly what to do about fannie mae and fred when they were in the minority. but getting in the majority has somehow muddled their minds. we now have four republican approaches to fannie mae and freddie mac. we have four separate bills. one has not had any hearing or action. gary miller's bill and john campbell eats bill. i think the committee has been pretty ineffective. >> right now, -- are you concerned they could make these bills law? >> no, because i don't think they are going to win the house, the senate and the presidency in 2012. you also would need the -- they would need to get the white house and i don't think so. plus i also believe they are more ready to do this, if this is again a case, they are not in the minority in the house but i think they are bluffing. i don't think they are ready to pass a law that says the cftc can't deal with speculation. i don't think they are ready to abolish the cf

fannie and freddie own or guarantee about half of the home mortgages in the nation. if their credit rating is reduced, they would likely charge more for any new or refinanced mortgages. >>> two of rupert murdochs top employees resigned today. rebecca brooks resigned from head of the british newspaper division in charge of the top selling tabloid news of the world when reporters hacked people's cell phones and reported by bribed for information on celebrities, politicians and even 9/11 victims. the scandal spread to the u.s. late today when dow jones ceo ralph hinton resigned, influential publisher of the wall street journal. he previously ran news corp. at the height of the hacking scandal. he says he was ignorant of the misconduct but feels it is proper for him to resign. >>> so it's here, carmageddon. up next a live update from los angeles on the construction project now underway that many fear will cause weekend gridlock. >>> we'll take you to lake tahoe where the extra wet winner has created a somewhat un-- wet winter has >>> the traffic nightmare southern califo

fannie and freddie own or guarantee about half of the home mortgages in the nation. if their credit rating is reduced, they would likely charge more for any new or refinanced mortgages. >>> two of rupert murdochs top employees resigned today. rebecca brooks resigned from head of the british newspaper division in charge of the top selling tabloid news of the world when reporters hacked people's cell phones and reported by bribed for information on celebrities, politicians and even 9/11 victims. the scandal spread to the u.s. late today when dow jones ceo ralph hinton resigned, influential publisher of the wall street journal. he previously ran news corp. at the height of the hacking scandal. he says he was ignorant of the misconduct but feels it is proper for him to resign. >>> so it's here, carmageddon. up next a live update from los angeles on the construction project now underway that many fear will cause weekend gridlock. >>> we'll take you to lake tahoe where the extra wet winner has created a somewhat un-- wet winter has created a somewhat unusual situation ther

supporting loans backed by the government, fannie mae, freddy mac and fhan october, it will be reduced, leaving future home buyers ability to borrow only $625,000. researchers at george washington university school of business are suggesting the limits should be rolled back further. >> you'd need to have a jumbo loan. >> interest rate is higher but more difficult to qualify. because fewer lenders that are providing loans that have size. >> the concern is that reducing the limits, thousands of california home buyers will be shut out of homeownership unless they can come up with a higher down payment. >> people don't have it. incomes have dropped. experts say it could affect home values. >> we can see up and down the neighborhood. >> not everyone agrees, russell is a business owner. >> i don't think it's going to to have a huge affect. the area we're in prices are high enough. there aren't going to be that many thicks that can -- the bulk are already jumbo loan autos these limits have been help tofl counties. the sale of the average home for the first quarter of 2011 was $970,000. accord

so right now, fanny and freddie allow these things for jumbo conforming mortgages.ans you can borrow up to $729,500 but it's probably the last couple of months where you can capture the bargain basement rates for these agency jumbo loans because fanny and freddie are phasing them out in september. that means those price go up dramatically on jumbo loads and on moneywatch.com we have the five new mortgage rules including the one fee that you absolutely positively must negotiate. >> and jill, just a quick question. if you wanted that jumbo mortgage loan you probably would have had to prepare months before. is it too late now to get it before september. >> reporter: no. you can, because all you have to do is have the documents established before then. so if you're looking for a house right now, you know, you still have probably have six weeks and you probably could have that loan origination lined up to go. you don't have to close before september but new original nations will stop after september. >> got it. thank you jill schlesinger, editor at large for cbsmoneywatc

i congratulate you on your attention early on to fannie and freddie and capital standards, these were things that were inadequate. so i think that this is not just a.less response. clearly a lot of things need fixing that we can improve and broadly speaking i believe the dodd-frank act covers the main perception of housing finance which was discussed earlier. you need more people to carry out more regulations and in general to do a better job of overseeing private sector activity. that being said, we want quality more than quantity. we wanted done well and make sure there is clarity in terms of the rules that financial institutions understand what the rules of the game are so that we can achieve these results at the least cost to the financial system. let me say the fed does do regular cost-benefit analyses of all our rules and it is always our intention to try to meet the goals of the statute in the least cost way that we can. >> didn't the inspector general of the fed recently called that into question, cost-benefit mythology that the fed was using that the claim was antiquated? >>

fha for fannie and freddie devotee individual state law, the bank regulated consent orders, the bank regulated joint interagency initiative, the legal settlement reported in the press, risk retention for qualified residents to mortgages of congressional proposals, you've got the potential let vbied this efp, and it would from "the new york times" in terms of the overhang or the i think you've got some 60 years worth in new york state in order to look through the backlog. you mentioned in your testimony that the occ supports the development of a uniform service and standard and you're all working with the agencies to come up with such a standard. >> i want to ask about that. >> i was going to say looking at the backlog of the foreclosures throughout the country, what impact does flecha fit clearly defined set of rules have all the confusion throughout the market? you know, is that adding to the delay and does that add to the recovery when you've got that amount of confusion out there? >> to the extent that lenders and servicers are uncertain what the rules of the road are in proceedin

. $1 trillion of the $2 trillion alone at fannie mae and freddie mac.it you can create a deficit by absorbing all of the housing debt into the government add freddie mac and fannie mae, fund all of these wars, no restructuring and continue to subsidize a banking system that's exporting capital by the trillion from our country and then solve that deficit problem by cutting medicare? that, i'm confused by that. >> el well, dylan, i'm too confused. not someone standing here saying the solution is cut medicare. the proposal harry reid will put in detail tonight will come to the senate floor is going to achieve some real progress in part by spending reductions in the wars in afghanistan and iraq. i think you're right in pointing out that it is both dramatic increased spending on conflict overseas and significant tax breaks that led to our record deficits. the gap between our revenue and our spending. we ought to be focused more on growing revenue by growing jobs, and to do that we may have to do some spending that restores america's competitiveness. we've al

the washington post notes that you called for dismantling of fannie mae and freddie mac. the question and i have a lot of questions asking, is it fair for you to call for dismantling of federal programs that you yourself have been a beneficiary of? in terms of guaranteeing home mortgages, do you think the federal government has a role in that even if you do not like the way fannie and freddie have been doing business? >> this is the problem. unlike all of you who i am sure paid cash for your homes, there are people out there who have to go to a bank and get a mortgage. this is the problem. it is almost impossible to buy a home in this country today without the federal government being involved. whether it is with the fha, whether it is with fanny, or with friday, it is almost impossible to buy a home. one thing we need to remember is fannie and freddie were the epicenter of the financial meltdown. i sat on a financial services committee and i watched as this occurred. what is important is we do dismantle a number of these federal programs. everyone agrees they are out of

they gave ratings to fannie mae and freddie mac. >> very good point. >> they warn us about the disaster coming, no much? look at the free market economist to get the rating. >> that is like me offering dietary advice. >> get your sense was what happened august 2nd. to hear the president tell us we default. but technically that is not true. >> no, you pay your bills with the cash flow and pick and choose. you don't default on the debt. you might have to default on the agencies of government. but you could pay your social security and you could pay the necessary things that have to be done, but there is a lot of burrcrats that are not all that necessary . so there is a lot of -- you can could do. facing up to the facts that you have to deal with it and end up spending money and august 2nd is a fictitious day. they are billions over the debt already. and so, i think that august 2nd debt is more related to the individuals who have trips planned in august and want to clean up the mess . for that reason, if they don't come up with a agreement. they will have a temporary agreement that the pre

. >> rose: fanny was her name is >> correct. and she was writing at the height of the civil war. she was 19 years old. and someone came to her house for dinner. a man she described as a hero of the union, a gentleman, a scholar, an aent abolitionist and a fan of lincoln. and he also happened to be the civil wa equivalent of a millionaire and sublimely handsome which certainly figured into a 19-year-old girl's writing. this was edwin booth. and he'd come to washington-- so this diary entry told us-- to perform a special series of shakespeare plays, command performances, for president lioln and the first lady on the third anniversary of lincoln's inauguration. lincoln loved shakespeare and to celebrate this time, this great week in early march, 1864, he wanted the greatest living american actor to act for him and what w amazing was that, of course, for edwin booth who was an abolitionist and an ardent union he wanted to perform for lincoln. >> rose: so what we now see is thessassination through this booth family. are you subjecting the rivalry and the sibling rivalry and the strugg

what's in the fanny pack? - oh, check this out, mac and dennis. just a little victory dance. thought maybe we could hang out later. - n--um... - oh, mr. reynolds. - oh, uh, i'm sorry. what are you doing here? - well, when i heard you were getting divorced, i felt compelled to involve myself. - i'm sorry. how would you have heard that i was getting a divorce? - i may have told him. - you know, i so enjoyed listening to you drunkenly explain all that at 3:00 a.m. i enjoyed it so much that i tracked down maureen here, and i offered her my services-- pro bono, of course. - hold on, fellas. i'm jack kelly. i'm a lawyer. - hello, jack kelly. the pleasure is all mine. - it's a pleasure to meet you. - pleasure's still-- why don't we just get started? - why don't we just get started? - [sighs] boy, the old place. huh? - yeah, yeah, yeah. - some good memories. here. all of us. so, yeah. - [sighs] - hey, um, so i was like-- - i'm gonna go. - no, no, no. no, stick around, dude. you should stick around. - please don't go. - i don't want to, though. - no, you should stay. - i use shea butt