he says that franny and freddie should be fixed. we can fix franny and freddie. >> i think they have the status quo. they got economic interest in that residual part of franny and freddie. they want to say, let's go out, recap, keep the status quo. they bought a lottery ticket. i'm not sure they will be successful. i got a separate lawsuit going with treasury at this point. we think we got a newark texture that candidly puts more private capital at risk. it protects the taxpayer better. it maintains the ability to have a 30-84 fixed product. takes out the social function portion and segregates it out, says, if we will support low income houz housing, let's charge a small fee for those mortgages that get this government wrapped. we think we got a better architecture than the status quo. >> senator, you say it protects the taxpayer from the risk inherent in franny during the crisis. in effect, a lot of this risk would be then introduced to the banking system. they would be holding these mortgages, how do you structure that risk from b

and franny. all my mother-in-law, my brother-in-law. i love you guys. and thank you for supporting me. and i'll see you guys soon. ]dc(Ñqgñ/twg >>> you know, i could blame it on everything, but when it comes right down to it it was me. you know, i made the wrong decisions. i made the wrong choices. you know, everybody has free will. and my free will was always on a path of destruction. >> i just look at it like i can't let my time do me. i have to do my time. i chose to put myself with that crowd and with those people, you know. so i have to of course accept the consequences that are given to me. and i have no choice but to go and do the time. >> it's what we deserve, actually, being incarcerated in here. we don't think about who we're hurting or whose moms or what children. we don't think about none of that stuff. our own children are incarcerated. >> if i could do it all over again, i would never lose my freedom. because freedom is one thing that we have that we don't have in here. you know. and freedom is very precious. and when we're out there, we t

and franny. all my mother-in-law, my brother-in-law. i love you guys.or supporting me. and i'll see you guys soon. mom, dad told me that cheerios is good for your heart, is that true? says here that cheerios has whole grain oats that can help remove some cholesterol, and that's heart healthy. ♪ [ dad ] jan? [ female announcer ] only aveeno daily moisturizing lotion has an active naturals oat formula that creates a moisture reserve so skin can replenish itself. aveeno® naturally beautiful results. >>> you know, i could blame it on everything, but when it comes right down to it it was me. you know, i made the wrong decisions. i made the wrong choices. you know, everybody has free will. and my free will was always on a path of destruction. >> i just look at it like i can't let my time do me. i have to do my time. i chose to put myself with that crowd and with those people, you know. so i have to of course accept the consequences that are given to me. and i have no choice but to go and do the time. >> it's what we deserve, actually, being incarcerated in he

and franny. all my mother-in-law, my brother-in-law. i love you guys.or supporting me. and i'll see you guys soon. >>> you know, i could blame it on everything, but when it comes right down to it it was me. you know, i made the wrong decisions. i made the wrong choices. you know, everybody has free will. and my free will was always on a path of destruction. >> i just look at it like i can't let my time do me. i have to do my time. i chose to put myself with that crowd and with those people, you know. so i have to of course accept the consequences that are given to me. and i have no choice but to go and do the time. >> it's what we deserve, actually, being incarcerated in here. we don't think about who we're hurting or whose moms or what children. we don't think about none of that stuff. our own children are incarcerated. >> if i could do it all over again, i would never lose my freedom. because freedom is one thing that we have that we don't have in here. you know. and freedom is very precious. and when we're out there, we take advantage of it. you know

i've been married to my wife, frannie --, franni, for 37 years. it's the best thing that ever happened to me, and i've long ngd believed that every loving couple cum should be seen as equal under the eyes of the law. and so i've been fighting for years along with others to overturn the so-called defense of marriage act. i am very happy today that the court did so in part this morning. today all minnesota couples will be treated equally under federal law, and this will make a real difference for those families. we still have work to do. i think that americans should have the freedom to marry the person of their choosing regardless of the state they live in, so we still have work to do but today is a happy day. okay. so back to college affordability and student loan interest rates. the interest rate on the stafford subsidized loan is set to double on july 1. along with a number of my colleagues, i'm fighting to prevent that from happening and to reach an agreement to protect students and make college more affordable for them and for their families.

where is that he and franny and where is their role in the purchase market? for me, we are entering into an environment as we exit the refinance market into a purchase system am entering an environment where ginnie mae is going to be an entry point and freddie and family, -- freddie and fannie, if we keep the concept today, becomes an alternative for those who do not have to pay the loan level price adjusters and big debt payments and higher scores and greater net worth, and we will have kind of a separate housing finance system. that is -- that is one way why think we need to think about the future. a different business model that does not serve what the gse's have done so well the past couple of years. the second point i would make his freddie and fannie are two different companies today than where they were before conservatorship. the mortgage backed securities freddie produces today is far less liquid compared to fannie prior to going into conservatorship. some would say it can't survive in the future state without doing something to it. we no longer have

. >> suddenly franny and freddie. >> i knew they were great institutions that we really needed, right hero to goet, to hero, to goet. >> it's been an exciting pla is to work. >> unbelievable.at. >> it's been an exciting pla is to work. >> unbelievable. do you say this is all just a lot of noise or is there something to this? you got to look at japan and think this could get nasty, theoretically. >> actually, i'm not going to say it is a lot of noise, but there is a lot of noise out there. i think people are overly focused on what's happening right now when the bigger story is what is happening in the u.s. economy, while here in the slowest quarter for the economy, this quarter, that's for the obvious reasons of the fiscal drg on the economy, we're going to begin to act sell rate to the balance of the year. so there are a lot of good things happening here in the u.s., earnings revisions just turned positive in may for the first time in 11 months, the continuing initial unemployment claims are at the lowest level they have been since 2008. so the employment situation continues to improv

. >> is it because of franny and freddie or people took capital gains last year, base of the sequesterhat's it bus of? i mean, aren't you gratified so some extent the s&p went up to stable for outlook? some things are happening in spite of all this. >> the things are not bad in the u.s. export markets are terrible. wear you'll getting killed in fraurp. china has slowed. no question. i was in china five weeks ago. >> you were? fly coach? >> this has happened over and over again. >> keep going. that was a joke. >> every time i go there, i get the same impression, who are going, who is going to live in these apartments? >> yeah. did you see some of them, honestly? >> this was way out west. i was in beijing, xindao, out in that area. we would see literally a mile or two of steady empty progress. we thought to the guy, they'll come but they didn't say they'll come. >> maybe it's not all our fault, john, what's happening in this 2% world in the united states, it's europe, china, maybe it's not all regulations and uncertainty and all that it's not all obama's fault. >> i'm sure it isn't all o

you know the average fico score of a franny and freddie loan is 70/60.nie and freddie's pricing of mortgages, the capital requirements and all, could it be that rates going up a little bit will increase the bank's willing ins to cut standard because the absolute rate is higher, you know, for sort of the average baseline bank out there that doesn't hedge a risk? could you see that happening or? >> barry, i think that's already beginning to happen. we are hearing that mother-in-law money is a little bit easier as we think it should be. we are going nowhere near the times of '05 when it was way too razzie. >> i'm getting down to 20% down, it would be an improvement. >> you don't have a house to sell beforehand. >> first-time buyers means a lot. >> i think it is easy. i think it will continue to ease t. underwriting is tricky. they're looking into all sorts of issues they never looked into before. if you financed a flat screen tv, it seems they will reopen your file. >> that's dodd-frank and the cfpc, too. >> i am wondering, you are doing a lot of great thin