the rules for fannie mae and freddie mac. we still required by percent cash down payment or private mortgage insurance, but it didn't happen. most of it was zero down or very close to zero down. when we get zero down, we get excess leverage and we get mal investment and we end up with a systemic crisis. all of that zero down was because there were second mortgages made that were funded by the banking system. it is true that fannie and freddie did not bear the biggest part of the loss, that they were instrumental to keeping the bubble growing to systemic apportions. we would not have had the bubble if we had had normal down payments of housing. we needed to have this incredible excess leverage to bring the system down. wasfinancial crisis scheduled to investigate this. -- the financial crisis commission was scheduled to investigate this. glass-steagall did exactly the wrong thing in the wake of the great depression. the purpose of this commission was denial, obfuscate and cover up. it was beautifully done in that regard. it su

las palabras de freddy, un pequeÑo guatemalteco de 12 aÑos de edad conmovieron hoy a todos, aunque ela, los recuerdos y el dolos los tiene vivos sot freddy / niÑo guatemalteco yo pas la frontera solito y con uno de mis amigos, y quiero que pasen los dems niÑos su voz se uni a la de decenas de personas que apoyaron hoy una resolucin para que san francisco busque la forma de asistir a los menores que estn cruzando la frontera sot david campos / supervisor y autor de resolucin nos compromete como ciudad no solamente de hablar, pero de hacer algo desde el pasado octubre, casi 50 mil niÑos centroamerican os han dejado sus pases para venirse a estados unidos, aunque algunos ya han sido enviados de regreso a su pas, muchos otros estn siendo reunifocados con familiares y enviados a diferentes ciudades sot larisa dugan / directora carecen a la baha del norte de california estn llegando 200, 250 niÑos mensualmente sot david campos nos compromete a que podamos usar los recursos de esta ciudad de san francisco para poder ser parte de esta solucion la resolucin permitir que san francisco destine f

but when freddie tried -- >> let me put a mushroom in there.problem we were experiencing that a lot of the food got stuck in the food chamber. >> next, freddie reached for an onion. >> the onion also got stuck in the food chamber. we just got the one slice. >> things aren't looking good for the slice-o-matic until freddie grabbed a potato. >> it did a nice job on these. >> yeah? >> sort of uniform. >> the blade produced mixed results. slice-o-matic is supposed to work with one hand, but freddie couldn't figure out how to make it work that way. the sliced up veggies made it delicious soup, though it's hard to see them going anywhere else. >> you slice your juliennes, but would you try it again? >> it was a little bit time consuming. >> but, freddie says if you can get the slice-o-matic to work, it might be great for using on a few vegetables. it's no match for a high volume industrial kitchen like his. you have a product you want us to try, tweet me at lesli foster. >>> how do they always get it to work in the video? >> it's magic. >> clearly. d

in fact that is done well with fannie and freddie but it's also the case that was 2003. you referred mr. cheney said chairman frank stopped it. cheney aris had things -- problems with things happening in 2003 like things like weapons of mass distraction. it was entirely their decision not to pass any legislation regulating fannie and freddie. i was against it in 2003. by 2005 i switch my position. the gentleman from pennsylvania alluded to an increase in the affordable housing. when george bush pushed up over 50 and 2004 i objected and you can read in hank paulson's book paulson the secretary of the treasures wasn't until 2006 when we are on the verge of taking over and he talked to me and we got fannie and freddie legislation. the republican party was very consistent. from 95 to 2006 they did nothing legislatively about fannie and freddie. >> i would remind the chairman that mr. oxley the chairman said the white house gave him a one finger salute to. >> in our four years we did put them into conservatorship and since then the republican party has once again taking contr

in fact, that has done well with fannie and freddie. it's also the case that was 2003. he referred to me chairman frank, mr. cheney said chairman frank stopped it. we were in the minority. the republican party told the house in 1995 through 2006, it was entirely their decision not to pass any legislation regulating fannie and freddie. i was against it in 2003. by 2005 i switched my position. the gentleman of pennsylvania alluded to an increase in the affordable housing rules. when george bush puts it up over 50 in 2004, i objected. and, in fact, as you can read in hank paulson's book, it wasn't until 2006 when we were on the virge of taking over, that he talked to me and we got fannie and freddie legislation. the republican party had been consistent. from '95 to 2006, they did not negativively about fannie and freddie. >> i remind the chairman that mr. oxley said the white house gave him one-finger salute on dealing with fannie and freddie. >> and in our four years we dud put them into conservatorship and since then the republican party had once again, in control of the

. >> reporter: the frasier actor speaking via video conference to his sister's killer, freddie glen, board yesterday. >> you couldn't have come to a better person in the world than me to try to advocate for somebody who made bad choices. >> reporter: glen was convicted of abducting grammar's sister karen with the help of accomplices when she was just 18 and stabbing her to death. >> i want to believe that you could even find a way to become a useful productive citizen and flourish. the things you say i accept ahot of them. >> reporter: while grammar accepted glen's apology, he said he still wants him behind bars for the remainder of his life sentence. >> i accept that you live with remorse for every day of your life but i live with tragedy for every day of mine. >> reporter: grammar opened up about his grandfather, father and two half brothers whose lives ended tragically. >> did you think for a while that you were cursed? >> no. but i did lose my faith in god for a time. >> this happened when he was only 20 years old. he wanted mr. glen to know that he was traumatically affected by

chairman frank you said on the record, i do not want fanny and fred d freddy to be another bang. if they do not do more -- sorry. if they were not going to do more than another bang would be because they have so many advantages then we do not need them. and so therefore, i do not think, i do not want the same kind of focus on safety that we have at occ and ots. i want to roll the dice a little bit more on the situation toward subsidized housing. in the gsc act congress initially specified affordable housing goals of 30% of mortgage purposes. that goal is continually raised over the years to 42%, 50% and finally, 56%. more than 70% of subprime and all-day mortgages that led to the crisis were backed by freddie and fannie. if you have to point to a root cause of the financial crisis, that is it absolutely that is it. mr. wilson i want to get back to you. 55% of bankers decreased their business due to the expense of complying with the requirements for higher priced mortgages that took effect in 2010. i wonder if your bang still does offer and issue mortgages and if so, have you decr

freddie's guarantee business was leveraged 200 to 1. if you're leveraged 200 to 1, you will fail some day. this is a guarantee. absolute lack of capital in the system. what i would propose is a system that we need to look forward -- to go back to in a sense. again, there are lots of problem in the snl crisis that were deposit based. some of we have addressed. most of the rest of the developed world rely on a deposit system. to me it also reduces what economists call a simatic information problems which are those i will take you a loan b inchtsds in the word where the lender makes the loan locally. the lender is a sense has is your current employer likely to be around. what's the local economy like. so i think there's a way you can do that and gather what i would call that soft local information into the lending process that we have lost of the it solves some of those problems. as i mentioned earlier, securitization was completely bosel capital standard driven not really driven by the economic benefits or the activities. as i touched upo

freddie, you see the break right there. he is able to hook it through.ht off the end there stayed with it. this guy, someday, is going to win the battle title. we talk about that a lot. but because he has such ability to drive the ball around the ballpark, left field, right field lines. that gives him a shot. >> joe: all-star game at-bat for anthony rizzo. hit 20 home runs. that's three shy of his career high. and the regime that's now in chicago, has picked this guy up three times. >> harold: you're right. >> joe: with the gm in boston, when rizzo was there. hoyer, who left boston, he trades for rizzo. and those two guys are in chicago. and they bring him to the cubs. they obviously like him. >> tom: i think makeup is a huge part of that. if you love the left-handed power, who wouldn't? but they know about this makeup from the time he was in high school and they drafted him. off the charts. >> joe: the count, 1-2, with frazier on-deck. home run threat. a guy who has 20. one on, one out. fouled left side. that's a good rip by rizzo. >> harold: he had a b

freddie, you see the break right there. he is able to hook it through.ht off the end there stayed with it. this guy, someday, is going to win the battle title. we talk about that a lot. but because he has such ability to drive the ball around the ballpark, left field, right field lines. that gives him a shot. >> joe: all-star game at-bat for anthony rizzo. hit 20 home runs. that's three shy of his career high. and the regime that's now in chicago, has picked this guy up three times. >> harold: you're right. >> joe: with the gm in boston, when rizzo was there. hoyer, who left boston, he trades for rizzo. and those two guys are in chicago. and they bring him to the cubs. they obviously like him. >> tom: i think makeup is a huge part of that. if you love the left-handed power, who wouldn't? but they know about this makeup from the time he was in high school and they drafted him. off the charts. >> joe: the count, 1-2, with frazier on-deck. home run threat. a guy who has 20. one on, one out. fouled left side. that's a good rip by rizzo. >> harold: he had a b

we have freddy jackson here. we just saw freddy. how are you dealing with this right now? are you concerned for anything else going on with this fire in terms of your possession? >> yeah. i'm worried about my possession but as long as everybody made it out, you know. that is what i'm concerned about. everybody made it out. nobody is dead. nobody is burning up. >> what are rt firefighters telling you? >> that red cross is coming out and we can talk to them. try to get shelter and stuff like that. >> freddy jackson, good luck. thank you for sharing your story. we'll let you know. this is still a very active scene here in oakland be we will continue to update this story throughout the morning. we are live in oakland, christien kafton ktvu channel 2 news. >>> happening now crews are patching up one of the most famous roads in los angeles after a massive water main break flooded streets in and around the ucla campus. this is video from overnight as repair teams work to fill a giant hole on sunset boulevard. that water main break created a guise tear sent water shooting 30 feet

the man accused of starting a northern california wildfire is facing serious charges. 37-year-old freddie smoke iii from sacramento is being charged with involuntary manslaughter. a man's body was found in the fire zone earlier this month. mr. smoke was arrested earlier for marijuana cultivation and accidentally starting the "bully fire."

officials say freddie smoke the

we don't have fannie and freddie who do we have? let me say and this touched upon the leverages i don't look at this as an issue of how do we replace the entire year 10 trillion market. i think we have households that are too leveraged and realistically at the size of the housing market we should think about more of the six or 7 trillion-dollar mortgage market to them for ten. i don't think all of this was brought to the stability and it isn't good for households. also important to keep in mind the originations are about a trillion a year. we don't need to replace the market overnight. every single plan even the action water's plan, all of these have transition periods. nobody seems to be recommending an overnight fix it as all six or seven or ten year problem at that rate we can replace the entire mortgage market if we continue to flow over and. so who would find this? the securitization was promised to be something that connected main street to wall street but the reality is that the majority got a massive majority of the funding

to reunify with his mother. >> freddy said his mother discouraged him from making the trip and thought it would be too dangerous, but he said it was worth the risk to be with her now. >>> it is 4:41 on your wednesday morning. after a cease-fire fails to take hold, israel and hamas continue their attacks on each other. we'll have the latest coming up. >> and what is cool about your school or your summer camp? email your nomination to us at coolschools@kpix.com. we may come and feature your school or camp on the show. ,,,,,,,,,,,,,, expected to begin today... the trial of a friend of bo marathon bombing suspect dzhokhar (joh-har) tsa >>> closing arguments are expected to begin today in the trial of a friend of a boston marathon bombing suspect dzhokhar tsarnaev. the man is charged with obstruction of justice. he is accused with another friend of removing some items from tsarnaev's college dorm room. prosecutors say they did it a few days after last year's bombing, which killed three people and injured more than 260. >>> in the middle east, there were signs violence could escalate after t

because the government is getting extra cash from fannie and freddie the money the fed is making nowthe fannie and freddie they will have to give it back then some when the loans go into default they're also getting extra money because they keep finding that banks 10 billion here or some there so that is money the government is getting back. metaphors we get some capital gains as people sell out social media stocks and of course, as we spend borrowed money is suspend sales so a lot of the revenue is a function of the phone the economy that the stimulus has helped to create but then it all goes away the tax revenue, fell whole thing would collapse which is why they will not do with but keep on talking when janet yellen for said or ben bernanke said i will raise interest rates but inflation is to i said no it will not happen if we ever get there they will move the goalposts and that is exactly what they did unemployment is 6.one. forget about raising rates and the cpi governments distorted version is up 2.1% year over year so we are above that goalpost also and not only have they not r

government has made money on fannie and freddie? you know that? >> yes, sir. >> you know that? i know that you know that. what about you remap. >> no, sir, it's all i can do to keep up with the regulators. >> a lot of those derivatives are part of it. so those derivatives are costing you money. >> we are making money and we are costing homeowners more than they should be charged so that we can use it as a piggy bank, yet we can't have an honest discussion of how to fix it and instead we have an ideologically-based committee sitting on the floor and i've never seen a major bells bills on the floor for as long as this proposal because they can't get past. and that is just one of them. we can't do it with immigration, we can't do it because we are lighting candles at the idea of her. help me find a way to get to these points. can you talk to some of your friends over there. i love them all but i'm from massachusetts and could you get them to listen to us on some of the things? >> i'm excited that we have consensus on addressing the needs of community bankers. >> the independent co

turn off the television, but to roughly triple the number of words nylasia hears from her father, freddie everybody wants their kids to learn more, talk more, full words. >> does it help to see how you're doing on a graph? >> yeah. the graphs help me understand how many words we're putting out, because all the baby speak, i never understood none of it. >> freddie is a quiet guy. >> yes, he is. but he's a great dad and he really wants to get that education piece for his daughter. >> reporter: what are you doing to help freddie talk more? >> modeling conversations and asking her questions, and giving her choices. do a lot of pointing, like when you're in the kitchen. and also labeling, like when you're taking a walk and you're pointing out birds and trees, and animals to when you are sitting in the house and reading a book together. you don't have to read the words, just point to the pictures and talk. >> reporter: all that would be picked up by the digital language processor, except for one thing it'll miss. >> the device has no way of discerning one word from another, it has no idea which

when prosecutors charged freddy yesterday with manslaughter, he wasn't in court. why?fter mosting iposting a $1,000 disappeared like a puff of smoke. the new bail amount is $1 million if they find him. back to you. >> thank you. >>> sounds almost like the "gilligan's island" setting. a boat goes out for a tour and then gets stuck at sea except this trip was very real. defiance never grows old. citracal maximum. easily absorbed calcium plus d. beauty is bone deep. two weeks later. look, credit karma-- are you talking to websites again? this website says "free credit scores." oh, credit karma! yeah it's actually free. look, you don't have to put in your credit card information. whew! credit karma. really. free. >>> it was supposed to last just a couple hours but passengers on a whale watching boat are happy to be on dry land after spending the night stranded at sea off the coast of massachusetts. divers freed it early this morning. the company is giving each passenger a refund, a gift card and $500 in cash. that will ease some of the sting. >> 500 cash. >> i love those w

the rules for fanny mae and freddie mac were never changed. they required 20% cash down payments or private mortgage insurance but it didn't happen. most of it was zero down or close to zero down. when we get zero down we get excess leverage and mall investment and a systemic crisis. and that was because there were second mortgages made that were funded by the bank system. it is true that fanny and freddie were instrumental to keeping the bubble growing to systemic proportions. so you can read this. we wouldn't have had the bubble if we had normal down payments in housing. we needed to have this incredible excess leverage to bring the system down. the financial crisis was then a political commission to investigate this and it was said it would be modelled after the commission that was a sham to create glass-steagall. so the purpose of this commission was denial, and cover up. and it was beautifully done in that regard. and suggested doing more of that in the future. we have gone through the anger part of this. the anger was the anger at wall s

fanny and freddie mac, does everybody believe that the government has made money from fanny and freddie mac? do you know that? >> no, sir, it is all i can do to keep up with derivatives. >> fair answer, but a lot of the derivatives are tied to fanny and freddie mac, you should know who you're paying because they're actually costing you money. mr. kupiec, did you know we're making money on fanny and freddie mac? here we are, making money, costing homeowners more money than they should be charged so they can use it as a piggy bank, yet we can't have an honest discussion on how to fix it. the bill that sits on the floor, never seen a major bill sit on the floor for as long as that proposal has because we can't get it passed. and that is just one of them. were having troubling, we can't do it with the highway trust fund, we can't do it with the immigration. we're lighting candles at the ideologue altar. help me find a way to get to these points. mr. wilson, can you talk to some of the friends over there to let us do what we can do. i love them all, they won't listen to me because i'm from m

in order to make this housing crisis happen, you had the banks, fannie mae and freddie mac, scott-freein this, then some homeowners who never should have signed up for loans that they got. >> a lot of these homeowners weren't victims. a lot of people, well, they got suckered in by adjustable rate mortgages. a large portion lost their homes before the rate mortgage even changed, while they were still paying the teaser rate. a lot of them put no money down. say there are legitimate people who were stiffed in one way or the other. one critical element that's not on your triangle, the federal government. the community re-investment act which goes back -- bill clinton actually took this and bolstered it. all these presidents used it. great to be a president and say home ownership is up under my watch. people need to understand these banks are national banks and the federal government says you cannot go from state to state if you don't make loans to certain people. they held this threat, then to make it easier for the banks, fannie mae became this sort of yucca mountain where you put nuclear

allen and freddie were sweating bullets, but not the boys. >> i was responsible for what i call hittinging the cameras and seeing that we're going the right way. >> and i was the vertical driver. i was doing all of the up and down motion and i was coordinating with oscar so that the robot would move in three directions. >> luis was the tether man. he would put the robot in the water and measure the tether and make sure it didn't get tangled. he wasn't allowed to tell us where the rov was in the water. >> the tether guy was not supposed to talk to the pilots at all, which luis was perfect for. >> they were all business. >> one of the tasks was to sample the fluid from a leaking barrel. >> we had a mechanism to extract the red liquid from the leaking barrel. >> we had some iv bags and some kind of a syringe feeder. >> i think we had an aquarium pump. we fitted a copper hose pipe in there so we would just drop down, kind of like a mosquito, basically hook down into it. >> once we actually got it in, that was a very big moment for us. >> because in any of our practice rounds, we never did t

for more on the damage in our area jen freddie's in the news room what did you see driving in, jen. >> it is not as bad in montgomery county and along the schuylkill. that is good news. neighbors in the northeast are wondering how long before crews clean up the damage from last evening's storm. on newtown avenue this tree snapped in half. it damage part of the porch roof and a fence on this one home. next door to that a mother says she had gotten out of the car with her two-year old when that tree, came down on top of her car. >> it sounded like a big bomb. >> very scary. >> she was screaming like crazy, you know, i just grabbed her and go to the bathroom. >> scary night for many people. heavy rain and wind also took down power lines, and, some houses on the block without power overnight. storm damage, clean up underway, also in chester county. the thursday night's rain storm, brought down several trees, and strong wind, and some of it was blamed for a house fire. malvern's fire chief says the wind thrustness to two power lines, and lit a home on fire. luckily fire fighters put out th

we thought fannie and fed freddie would be out of business or a under a different name. happening. >> yeah. cheryl: when interest rates start to pick up, that will change the mortgage market overall, whether it is regular fannie freddie mortgages or non-agency mortgages. what is your overall take? >> gse reform year ago is very much on the table. seems like it is not on the table any longer. crazy, they made a lot of money this year. so it is -- cheryl: keep them. >> so we like them now. the mortgage market i think is in a good place. fundamentally the economy is stable. housing last year was up quite a lot this year. not up as much. probably healthy not to have exorbitantly volatile housing markets in either direction. non-agency mortgage market, one where, non-prime borrowers could get access to capital is the key to entire economy. and they haven't had access to date. that is starting to change. i think that is the key to the economy. when that starts to happen, for, some material period of time, three to six months, that is when you see -- david: very quickly. need r

the news in the entertainment world, freddie prince jr.nd professional do. >> game delay on the comment. 24 is now back. we have to follow that story because it looks like there's a rift he will have trouble feeling. he is not on the show anymore. >> didn't 24 come back? >> they are now in london. >> only five years ago. i am still in first season. >> right by the side with a lot going on. they have their season finale so it is over. >> i was watching seinfeld. >> some news to bring you, we talked about this earlier this morning. the stranded whale watching boat has now returned back home. it was supposed to be a three hours tour but it turned into a nightmare. 15 hours long. the boat's prop got stuck in a lobster trap 60 miles from boston's harbor. 160 tourists were forced to stay on the boat overnight. the company is apologizing saying they will refund passengers for the trip. on the west coast police hope new surveillance video will lead them to a break in the case of a missing or again mom. jennifer disappeared last thursday when she w

this man, freddie smoke iii, from sacramento, is under arrest. he is accused of starting the fire by driving a truck through dry grass on his way to an illegal marijuana farm. >>> the search is on for the thieves that stole an entire fleet of buss belonging to the cheese company. they were taken from a hotel along with the truck and trailer hauling them. the truck was later found burned in jamestown, that is about 120 miles east of san francisco. the buses should not be hard to spot. >> i don't know, that is pretty bold. >> reporter: on saturday morning, between midnight and 6:30, thieves stole an entire truck and trailer from tillamuck cheese company. the company was in california for its tours. the web site says they wheel around the country in those quote irresistiblily adorable vw buses. and the ford f-350 trailer popped up somewhere. on sunday, one day after the theft, they found them on fire in jamestown, 1 1/2 hours away from the hotel they were stolen from. the witnesses say they saw the truck ask trailer 20 miles away near the town squar

bank of america will pay more than a billion dollar for selling risky mortgages to fannie mae and freddie mack they imposed the fine from 2008 during the financial crisis. a jury ruled that the company was liable for the risky loans. >>> "action news" troubleshooters has an important warning today for all families with small children. here is consumer reporter nydia han. >> after interviewing the family are you about to meet, my husband and i made changes in our home and i hope you will too. >> it was the worst sound i ever heard, the worst scream from my child i ever heard. >> find out what happened and how you can prevent it from happening. and the changes that one family made. it's an "action news" troubleshooter. >>> navigating the health care system can be tricky for seniors, lisa thomas-laury tells us how seniors get help with prescription medications. pace, the pharmaceutical contract for the elderly is a benefit that helps older pennsylvanians on limited income. >> the qualification process is three out of four people meet the criteria. the pace program can help seniors get discou

. >> por desgracia no siempre le ganÓ el duelo a la muerte freddy lo ha asistido en tres parto entreaba sin vida, la llevamos rÁpidamente al hospital falleciÓ en el patrullero. >> la madre muriÓ pero en medio de la tragedia surgiÓ un rayo. >> verifiquÉ los signos y no tenÍa pero algo me llamÓ la atenciÓn no sabÍa que estaba gestando, digo estÁ gestando! le faltaba oxigeno, le han puesto el oxÍgeno y se salva en segundos, el niÑo se llama aaron y tiene cuatro aÑos. >> cliente siempre va preparado con sus armas y municiones tambiiÉn material médico bÁsico para atender partos y emergencias. >> patrulla en proceso. >> asÍ estos policías siguen recorriendo als calles de lima con su doble misiÓn ayudar al venir al mundo a los niÑos que estarÁn agradecidos con el hombre que les salvÓ la vida. >> ya bebÉ. >> le comentamos tambiÉn que roberto clemente es el padrino de varios de sus niÑos cada aÑo visita lima para visitar a sus ahijados tal vez alguno le siga los pasos y quiera ♪ ♪ ♪ >> mostrÓ sus encantos la cantante italiano laura paussini lo habrÁ hecho propÓsito, fue naciente fue en una pr

investigators say the man whose real name was freddie smoke was delivering material to an illegal marijuana site in shasta county when his truck ignited the high grass. the blaze is burning in steep terrain. it is threatening 15 homes and 50 other structures. >> in the morning buzz, an interesting contest here, who could have the best aerial drone picture. let's take a look what's out there. the contest was run by the dronestagram. the first overall winner was for an eagle soaring over an eagle in indonesia. the second place went to a man in the philippines. and the third place was in france. the most popular was a waterfall shot by a drone photography post an fly. we could end up with beautiful photographs. >> yeah, and a lot less privacy. >>> a atlantic city casino is closing the doors and leaving worker without a job. >> a service makes online our diet ocean spray cranberry juice drink is made with real cranberries and has just five little calories. these diet soda farmers are here to see where cranberries grow. hey, where does diet soda grow? uh... and these little angels build in stren

and house republicans wanted to pass regulations to rein in fannie and freddie and he wouldn't let thatn. gerri: we still haven't recovered, diane. it goes on and on. >> correct. gerri: the economy is still sluggish, still not back to its old seven. thanks for coming on today. >> great to be with you. gerri: well, another item struggling to gain support, a firing of a popular ceo. and in fact employees are protesting the firing of their boss. arthur demolis or artie t, is what he was called by workers. look at this guy. he was the head of a boston grocery store chain called market basket until he was fired following a family dispute. now his firing has led to protest rallies and online petition demanding that he be reinstated. eight market basket employees, look at these pictures, have been fired for organizing protests. that is some protest. but employees say he is worth fighting, worth fighting for because i cares more about the people than the money. he take care of his employees and customers. >>> now we learn about arthur demolis, what about other ceos? this friday we're airing a n

the state department of forestry and fire protection said that freddie alexander smoke iii was tending an illegal marijuana plot when his truck sparked the fire. it destroyed six structures and threatens 15 more. >>> it is a return to glory for german soccer. the world cup final remained scoreless until the 113th minute when a 22-year-old midfielder knocked in the game-winning goal. time score, german 1, argentina 0. in berlin, fans went nuts. 200,000 people rushed the streets and partied into the night. fans in argentina rioted after the loss. they set fires and looted stores. police in riot gear had to break up the crowd with tear gas. eight officers were injured. more than 250 fans were arrested. in san francisco, a world cup crowd of 15,000 people was much calmer. abc 7 news reporter tiffany wilson has details. >> reporter: for 113 minutes, fans were anxious, excited, hopeful their team would prevail. then, goal! >> we just didn't want it to go into penalty kicks. it was nice to have an authentic win with a real goal. >> reporter: that was game. argentineans collapsed while rmans c

police arrested this man. 37-year-old freddie alexander smoke iii over the weekend. smoke was delivering some kind of material to the site when the exhaust from his truck set the grass on fire. so far the fire has burned 4,000 acres and is only 15% contained. smoke has been charged. >>> meanwhile, hot spots are being looked at to make sure that fires don't spark up. 20 houses have been evacuated and firefighters called for backup. they were able to get the flames out before any of the homes were damaged. >> it's very dry. the drought, the late rains, everything around it is distressed and it burns hotter, quicker than the past. >>> investigators in suburban philadelphia are blaming basement sump pumps for forcing families out of their home. they are working to identify the compound involved. people reported smelling a toxic smell around 6:00 last night in a neighborhood. an emergency shelter was set up and some people even had to be sent to the hospital as a precaution. now people are being asked to have their homes tested for the present of the compound before retur

i would submit that we can end franny and freddie and lead the world in socialism. one of the questions i'm often asked is if we don't have franny and fred dee, who do we have? we realistically shoumd be more thinking about a six or zempb trillion dollar marketing habit. also important to keep in mind, average originations are about a trillion dollars a year. all of these have transition peer dwrods. at that rate, we can continue to force it is entire market. >> the securitization system we have is connected from main street to wall street, but still came from other financial institutions. this is a bit of a simplified example. >> why would you have that round about process? bank of america still takes the interest rate risk. by cutting their capital rules, they can you want their mort gang. my back of the envelope is looking solely at the institutional. the crisis was levelled 60 to 1 just absolute lack of care on the system. i would propoeds going back to -- >> yes, there are lots of crisis. some of those things we've asdrezed. some of it we still need to adretsz.

was fannie and freddie involved? double yes. >> but fannie and freddie get a complete pass.s wondering if they're the only ones targeted, what happens to all this money? where does the money go? >> it goes into the justice department picks it up and allegedly goes in to the general treasury like our tax money. >> but they don't -->> it's going around and away. they bailed them out and now taking money back. if you listen to tim geithner, they paid them back already, so why do they need anymore money. but the crazy thing about some of the settlements, they're against citigroup selling mortgages to sophisticated investors. where is the real crime? those investors knew we were at the top of the market when they were buying these bonds. they kind of knew the underlying mortgages were subprime or just a little better than subprime. they knew the risks. and we're at the point where i'm no big fan of citigroup, they should have let citigroup go under, that should have been citigroup's penance for what it did, excessive risk taking. citigroup should not exist right now. but this sor

freddie haines for the friends ship west baptist church and e.j. die yon. zblo do they take rick perry seriously? >> i hope not. the rick perry who spoke out of his heart about having a heart evidently had a heart attack. unfortunately we live in a time where he's being pushed politically to respond to a humanitarian crisis in a way that immoral. with texas being a state of big churches and big faith, i hope we still have a big heart for a big heart reflects the heart of the christ that many of our conservatives claim to worship. that same christ said how you treat little children is a reflection of how you are treating me. as a matter of fact, he also went on to say that we have to be careful how we entertain strangers and street foreigners and then don't forget about children. it's better to have a meal stone tied around your neck then to offend the least of these. i'm with rick perry from a few years ago, let's have a heart. and because these are children who are in need of compassion. and unfortunately, compassionate conservatism, i don't know if that e

freddy haynes iii, senior pastor from dallas, texas. >> dr.ow does your definition of compassion differ from his definition. >> my colleague, i pray for him, unfortunately. it seems as if he is to quote shakespeare, citing scripture if are his own purpose. his christology is being used to justify a right-wing idea ol joe in order to protect america, i guess, from these refugee children. i've even moved from calling them immigrants, unaccompanied children to refugees who are fleeing a context that is violent, that is dangerous and i guess i would ask my dear colleague have you forgotten about the jesus who was a child escaped into egypt, crossed a border, as it were, in order to escape what was going on there in his homeland of bethlehem with harrod. have you forgotten about moses who was put in a basket by his mother so that he could escape the genocide that was taking place right there in egypt? and so i'm hoping that he will come and check out the bible, the jesus of the bible who in the real sense was not about building fences, but about bu

this man, freddie alexander smoke iii was charged with recklessly starting a fire. he was trying to deliver soil to an illegal marijuana site when part of his exhaust hit dry grass and sparked flames. mandatory evacuations were lifted last night. the fire is now 10% contained. >>> did you feel it? a little earthquake hit gilroy this morning. it was 3.4 and it hit at 10:23 a.m. there are no reports of damage. there are serious concern -- >>> there are serious concerns about the west nile virus in the south bay. 286 birds infected with the vie russ have been found. that accounts for half of the cases statewide. the county has seen more than triple the number of west nile cases than all of last year. >>> muni is expected to vote on a contract tomorrow. it is calling for a wage increase of a little more than 14% over 3 years, muni and the union say they are optimistic the deal will be approved. >>> people in southern california are up set that a church is providing aid to undocumented immigrants. this was the scene outside of the church in fontana. a church spokesperson

the man accused of starting a northern california wildfire is facing serious charges. 37-year-old freddie smoke iii from sacramento is being charged with involuntary manslaughter. a man's body was found in the fire zone earlier this month. mr. smoke was arrested earlier for marijuana cultivation and accidentally starting the "bully fire." investigators think exhaust from his rental truck started this fire. it burned about 20 square miles southwest of the redding. >>> healthcare workers are abandoning doctors medical center by the dozens as uncertainty persists about its future. the ceo of the san pablo facility says 66 workers have left since early may and another 20 or so are leaving soon. that adds up to about 11% of the staff. the exodus follows the failure of a parcel tax ballot measure. county health officials are looking now into ideas for downsizing. >>> and the east bay municipal utility district and six cities have agreed to pay $1.5 million in fines. it's too settle allegations they allowed raw or partially treated sewage to flow into the san francisco bay. the environmental pro

listen to freddie prinze jr. unload on his "24" co-star. >> kiefer was the most unprofessional dude in the world. >> youtube superstar ijustine is here. and you hung out with that cast. >> i did. rocsi diaz and i got a selfie but we also got a song. ♪ nah, nah, nah, nah, nah, nah >> o

kendrick with all sorts of issues back-to-back batters freddie freeman and justin upton walks in a run. ryne sandberg not quite sure what is going on and you may want to look the other way. later in the third. tommy la stella bases clearing double, braves score three times in third and this is their only hit in the inuping. kendrick and company can't even watch any more. phils lose 8-2. 11 games out of first. nothing seems to be going right. >> well maybe cliff lee will be good luck charm. lee returns to mound tomorrow and phils return them to face the first place san francisco giants, lee lights out hopefully lights out after being out for the last two months with elbow strain. now could lee be auditioning for other teams. with a trade deadline 11 days away phils are talking to other clubs about almost everyone including fan favorite chase utley. boston globe reports san fran and toronto expressed most interest in utley and that does not mean 6 time all star is going anywhere. no trade clause and instead just days ago he wants to stay in philadelphia. >> this time last year eagles tig

check out this, a toppled tree right under a car and our jen freddie's live checking out the the damage. caitlin roth is standing by with the holiday forecast. >> we're off to a stormy start for most of us, we will have rain today in the forecast but we will clear out for fire works and rest of the weekend. threats still lumen they sun comes out. i'll explain, coming up. >> all right. >> yeah, what is up with the dog and the statue, that is coming up in the trend. >> how sweet. >> it is friday, the fourth of july, so we are so happy you are waking up early and joining us on this day. we'd like to know what you are doing tweet us and use that are tag fox 29 holiday plan. they have change because we have had changes with the weather. we are in the calm spot with the weather. good morning chris murphy. >> good morning, karen? but we will get more rain on the way. >> two different systems. we had one from last night caitlin that gave us more storms, lightening and then another one coming from the other direction which is arthur. >> that is right, hurricane arthur moving up the north carolin