yeah ethics and fannie mae and freddie mac. last summer a lawsuit was filed by perry capital and several other hedge funds which argues that the government is taking too much of the profits from fannie and freddie perry and other funds own preferred shares in the companies that they believe are worth not so small fortunes if only the government would stop how you know the profits now let me start back at the beginning back in two thousand and eight fannie and freddie were bailed out by the u.s. government they were two of the biggest and earliest bailouts of the financial crisis hank paulson the. treasury secretary at the time placed the companies into conservatories shift and provided them with hundreds of billions of dollars in backstop financing there was one catch though the government never wiped out the existing common or preferred shares because doing so would have bankrupt bankrupted some major midsize american banks which have been encouraged by regulators to use the preferred stock as bank capital what c.d.'s these no

>> there is freddie wong, he's huge in this videogame business.mer, with a show that subway paid for that has done well. it's not hundreds of stars, it's tens of thousands of stars. >> we will be speaking to freddie wong himself in a matter of minutes. with disney buying maker studios, dreamworks investing in awesomenesstv. what does this say about the future, and who was going to own it? >> right now they are still making lots of money in television and movies, but there are signs of weakness. the summer box office has not been great. the upfront advertising market was pretty weak. they have cash, and what you do with that? they are looking at this parallel universe on youtube, and right now that has a huge amount of attention. lots of young, rabid fans, but it is not making that much money. these independent companies have done a lot of the initial hard work, organizing this ecosystem and trying to figure out how to make money from it. but they have not made a lot of money yet. big media companies like dreamworks and disney find now is a great t

shows so what prompted us to address this very subject fannie mae and freddie mac. yeah ethics and fannie mae and freddie mac. last summer a lawsuit was filed by perry capital and. several other hedge funds which argues that the government is taking too much of the profits from fannie and freddie perry and other funds own preferred shares in the companies that they believe are worth not so small fortunes if only the government would stop holding all the profits now let me start back to the beginning back in two thousand and eight fannie and freddie were bailed out by the us government they were two of the biggest and earliest bailouts of the financial crisis hank paulson the treasury secretary at the time place the companies into conservatories shift and provided them with hundreds of billions of dollars in backstop financing there was one catch though the government never wiped out the existing common or preferred shares because doing so would have bankrupt bankrupted some major midsize american banks which have been encouraged by regulators to use the preferred st

fannie and freddie are now profitable again. the stock is up, i would suggest everybody read our story, it is on foxbusiness.com, it lays this out including the comments from fannie and freddie, causing a lot of headaches, they are now reacting to this. basically said we have no plans, we don't like the impression your story is giving. we just quoted from your job listing. it is not like i made up the job listing. my guess is they are going to tweak the job listing at some point. it sounds like they are preparing for at some point to come back. and what does that mean? it would be very hard to get rid of fannie and freddie because it would be implanted in the u.s. stock market. you have the listing of a major stock, you're basically held by more and more investors, you could get one of the averages, it will be hard to get rid of fannie and freddie at that point. adam: what does this mean going forward if they were treeless, does it make them too big to fail? >> if they list on the new york stock exchange and the shares trade on

because his distortions of the history with fannie and freddie were egregious. it was true in 2003 i did say that we should roll the dice with regard to subsidized housing by which i meant specifically, the phrase they use multi-family housing built with federal subsidy and in fact, that has done well with fannie and freddie and it was the case that it was 2003 and he referred to me as chairman frank and mr. cheney in his book said chairman frank stopped it. i wasn't chairman in 2003 because cheney had problems with things happening in 2003 like weapons of mass destruction, but the fact is that we were in the minority. the republican party controlled the house from 1995 to on 2006 and it was entirely their decision not to pass their decision regulating fannie and freddie. i was against it in 2003. by 2005, i switched my position. the gentleman in my position had an increase. when george bush pushed 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 verge of taking over that he talked to m

yeah ethics and fannie mae and freddie mac. last summer a lawsuit was filed by perry capital and several other hedge funds which argues that the government is taking too much of the profits from fannie and freddie perry and other funds own preferred shares in the companies that they believe are worth not so small fortunes if only the government would stop how you know the profits now let me start back in the beginning back in two thousand and eight then.

you create fannie and freddie mac in congress, and what happens? you drive out all other private mortgage insurers, you ruined the industry and they're funded by endless taxpayer dollars. they make bad loans and nobody cares, no recourse, no recourse for making bad decisions in washington. so you drive out all the other business, fanny and freddie take some of that money, gives it to politicians like barney frank and barack obama who was senator at the time, and the cycle starts. then you force the marriages with the companies and then you start fining them. none of this makes sense whatsoever. the government has their hands all over. this barney frank suggest at one point if you didn't make subprime loans then you're a racist. this is a hysteria that the government was involved in, yes business was involved in it, they say they're going to take the fines and give them back to taxpayers. i doubt that very much. neil: don't hold your breath on that. david, you and i were covering this so closely when all of this erupted. go-go lending time, you got

. >> well, if fannie and freddie were profitable until it isn't. if you look closely to what he says. these are loans in places where private capital would not ordinarily provide loans. what he's say something these places are so risky that the market won't provide the capital. so therefore the tax payers should. now if you're sitting at home wondering does that make sense, the answer is no, it doesn't make sense. what the bank is really just a politically connected slush fund for crony capitalism that benefits just a few companies that can hire the best lobbyists, in the last six years one-third of its loan guarantees went to one company, boeing, which is why the bank in washington is referred to as the bank of boeing. how come there is one company getting a special benefit from the federal government and really the tax payers. we're wondering the same thing. that's why we r oppose it's authorization. >> there has been a vestigial banking system, an infant banking system still trying to find its feet. if you want to buy chemicals for power plant o

congress basically passed the buck by basically putting fannie, freddie on autopilot. no decision congress has to make to say, oh, we want to change it. if they want to change it, they have to make affirmative decision. there is no requirement, even in consearch toreship. they could be in there for five more years. gotcha. crazy to be in conservatorship. already been in 60. david: they won't change it until the next crisis. ed pinto. good to see you. >> thank you. always a pleasure. >> gopro's slogan is be a hero but the real hero in the highly competitive camera market could be maybe a blast from the past. we talk to ceo of a company once a symbol of american innovation and wants to get back in that game. david: also could be a game-changer in football. new wearable technology could transform football forever. we go live to the miami dolphins training camp in florida. find out how. you want to stick around. ♪ you make a great team. it's been that way sincthe day you met. but your erectile dysfunction - it could be a question of blood flow. cialis tadalafil for daily u

i kee hate to keep comparing it to fannie and freddie, but the best way to do that is not to subsidize, but to lower tax rates with loopholes and reductions. i go back to the businesses that are hurt by the unseen costs of the foreign competitor. if other countries want to subsidize their experts, that's their business but we should not be doing the same thing. you can't have it both ways. if the bank is privatible in imperpetuity. private sides it. ize it. earn was talking about the theory that it could at some point have it could have just like fannie and freddie and the housing bubble j he keeps talking about subsidizing. nobody is subsidizing. every transaction occurs there it interests charged for it. that's where the profit comes back into the u.s. treasury. it has been reducing the deficit of this country through the gains of financing these transactions. had it not done it, those sales would not have occurred. >> it is a subsidy. you can't say that well these things wouldn't occur unless the government got involved. it is a subsidy. if isn' something doesn't occur then the gove

it says your dong pills are ready. [ laughter ] >> jimmy: freddy, thank you very much.[ applause ] ♪ >> james, that's an e-cigarette. >> jimmy: i know. >> how are things going at the show? >> jimmy: just swimmingly. it is quite a legacy to uphold. >> well, you've never been one to deny yourself a challenge. [ laughter ] >> jimmy: right you are, my dear. right you are. >> i just need you to make sure you watch your back. [ laughter ] it's worrisome to me. >> jimmy: okay. i need the funniest, most gut-busting sketch ideas. this is "the tonight show," so dig deep. haskell? >> a bit called gizard wizard. it's a wise turkey that predicts the future. >> jimmy: no. >> celebrity sweat stains. >> jimmy: no. >> 50 shades of hey. [ laughter ] >> jimmy: i have no idea what that means. [ whispering ] [ laughter ] miles, good one. that is hilarious. >> have a biscuit. how many zucchinis i can fit in to my crotch? [ applause ] >> jimmy: higgins, the "orange is the new black" parody is down the hall. >> steve: oh. >> jimmy: yeah. >> steve: sorry. >> jimmy: okay. let's keep these ideas

now let me start back in the beginning back in two thousand and eight fannie and freddie were bailed out by the u.s. government they were two of the biggest and earliest bailouts of the financial crisis hank paulson the treasury secretary at the time place the companies into conservatories shift and provided them with hundreds of billions of dollars in backstop financing there was one catch though the government never wiped out the existing common or preferred shares because doing so would have bankrupt bankrupted some major midsize american banks which have been encouraged by regulators to use the preferred stock as bank capital with c.d.'s these now stranded capital structure rules would dictate that the common preferred shares should have should have been wiped out but the government didn't want to do that and hedge funds piled in thinking that these things had huge optionality values and they were right now once the conservatorship now once in conservatorship the government required and fred to issue super preferred stock to the treasury department stock which they do which they

freddy mamami, el arquitecto, el cerebro detrÁs de esta enloquecida oleadaconsultora, es un indÍgenae, que emigrÓ del campo siendo un niÑo, y comenzÓ a trabajar en la construcciÓn donde aprendiÓ los secretos del oficio. >> lo que me inspira, y la base de principio, mi fuente de inspiraciÓn es tihuanaco, ya?, y los tejidos y tejidos de nuestros ancestros. >> sÓlo necesita hacer volar su imaginaciÓn y transmitir sus ideas en bosquejos que luego se plasmarÁn en sus obras, dándole un carÁcter tan especial a este de contar con lujosos salones de fiesta, adornados con espectaculares lÁmparas, llegan al extremo de tener una cancha de fÚtbol en la terraza. los "cholÉt", marcan un estilo muy particular en la arquitectura de esta ciudad, y son en esencia la representaciÓn del poderÍo econÓmico y polÍtico de una clase mestiza,emergente. una clase que en los Últimos aÑos ha logrado avanzar en todos los campos de la sociedad boliviana. alejandro, es uno de ellos. sastre de profesiÓn, trabajó toda su vida para poder construir este el edificio valuado en 2 millones de dÓlares. >> con mi esposa, con

>> 20th lawsuit involved with fannie and freddie. this is lot of hedge fund activist managers are going after this much the real issue, has fannie and freddie paid all the dividends they owe back to the government and that will have to be decided in court. melissa: it is an interesting claim. they say the government is stripping profits from fannie and freddie unconstitutionally shortchanging investors. you laugh? i don't know. i think it is reasonable. >> it is ingenius, going after common stock and something different than the previous lawsuits with preferred shareholders. but i think it is, he is not going to win this suit. >> good luck, picking on the government. i wish him luck. melissa: herbalife thing didn't go so well. anyway, thanks, guys. >>> watching ukraine more on reports of ukrainian attack on a russian convoy. one of our guests warned this is exactly what was going to happen right here on our show yesterday. find out what he says will happen next. >>> plus, the bizarre new california law that means that big business wo

. >> now, today freddie mac put out a summary of what it sees as the monthly look at the housing market. it said overall it is, quote, generally weak. simon? >> diana, let me ask you something else. from the ceo of wells far wo who gave an interview with "the financial times" saying they're going to avoid giving loans unless the federal authorities reduce the threat that they will -- basically they want to be absore in the future unless there's a specific problem with underwriting. is that significant? >> the big banks have been complaining about this for quite a while. wells fargo the leader in home lending. they have done some lower fico is it loans under a small program, but they've concerned as well that they're not getting enough clarification about what fannie mae, freddy make will do if a loan goes bad. they don't want to have to keep buying the loans back. they're not seeing the certainty and clarification that they won't have to do that. >> diana, thank you. in. >>> in the yahoo finance question of the day -- do you agree with fannie mae downgrading -- the results will come up

bailed out along with freddie mac. one of the biggest bailouts. maybe biggest. combined $118 billion bailouts. they have been delisted. stocks of these companies, remember they were quasi-government, backed up by the government and backed up an insured mortgages but they were public companies. they have been delisted ever since. now here is the interesting thing. a job posting listed out there for a corporate lawyer, asked for, from fannie mae was to provide advice and counsel on corporate governance and secures laws matters including federal housing finance agency 34 act and nyse listing requirements. now what does that mean if they got back on the nyse? well that means, fannie and freddie, despite what people like me and james would say, let's get rid of them finally. cheryl: it ain't going to happen. >> not going to happen. they will be in index funds. almost impossible thing to unravel. we put a call into fannie mae. they said they have quote, unquote, no plans to do this. cheryl: get your reaction. >> this is the worst news the taxpayer has gotten this week

fannie mae and freddie mac control which scores can be used and their underlying system. and fannie and freddie are one generation behind the most current version as of today so when this new version of the fico rolls out later on this year, fannie and freddie will be two generations behind. which means home buyers will not benefit from these very consumer-friendly issues. >> how many people do you think it will impact and will most people see their score go up, is it going to be neutral? how do you think it's going oimpact in terms of the number of people? >> this will be neutral or positive and the degree of positive is going to be based on whroo sells on the -- what else is on the consumer's credit report. if you have a pristine credit report except for a couple of collections paid or settled, your numbers will shoot through the roof. if you have unpaid medical collections, your scores will go up but modestly. it's going to vary based on what kind of collections you have or how you can settle or get them to a zero balance. >> does this mean if you ever had an unpaid me

just off 5th street on 2nd and allegheny is freddy's and tony's the go-to when it comes to puerto rican cuisine. it's a little mom and pop shop but i'm proud of you know this little mom and pop shop freddy's and tony's is run by dhalma and her sons roberto and antonio.and they bring that family atmosphere to the dinner table. people say they like our food because it tastes like home like their mom cooked its home cooked meals their specialty.the roast pork shoulder. a lot of people come from everywhere it's just amazing the family style dining fills the table with dishes like the rice and beans, mofongo and frijoles such as chicken and beef patties sometime the line is out to the door. the barrio continues to his transform, and you can always count on a great meal. every neighborhood needs a good mexican restaurant.but finding the real deal isn't always eas.. but three new restaurants are bringing authentic mexican food to the city of brotherly love. there is one person who told me, your job is going to be like your second house your gonna be here all the time. and now amado sandoval is

fannie and freddie, does everybody realize that the u.s. government has made money from fannie and freddie? do you know that? 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 fannie and freddie? here we are, making money, costing homeowners more money than they should be charged so we can use it as a piggy bank, yet we can't have an honest discussion on how to fix it. instead we have an ideologically based 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. we're having trouble with tria, we can't do it with the highway trust fund, we can't do it with 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

when you deliver it through third-party enterprises, fannie mae and freddie mac -- when you deliver the subsidy to a private company with private shareholders and attempt to extract for themselves, that is not a good way of subsidizing homeownership. >> christopher hitchens, and gretchen morgan's , are a few of the engaging stories. history and american history professor joanne friedman discusses how the concept of honor affected alexander hamilton throughout his life. she maintains that his desire was so strong that it led

but when you deliver it through these third-party enterprises, fannie mae and freddie mac, when you deliver the subsidy through a public company with private shareholders and executives who can extract a lot of that subsidy for themselves, that is not a very good way of subsidizing homeownership. anneristopher hitchens, applebaum, and gretchen morgan said are three of the -- gretchen morgenson are three of the stories in "sundays at eight." "washington journal" continues. host: we continue with our discussion of lyndon johnson's vision for a great society. all this week on "washington journal" we are talking about several of them. we talked about the voting rights act, education, just talked about immigration as well. right now we want to focus on housing, president johnson signing into law in 1965 and omnibus housing act that was part of a series of omnibus bills on housing. joining us for this discussion is can't watkins, the chair of the national economy of housing and sustainable development. let's go back before '65. when did the federal government start getting involved in housing for

but when you deliver it through these third party enterprises, fannie mae and freddie mac, when you deliver the subsidy through a public company with private shareholders and executives who can extract a lot of it for themselves, that is not a very good way of subsidizing home ownership. >> a few of the 41 engaging stories. now available at your favorite bookseller. >> now book tv interviews dr. claude piantadosi about his book "mankind beyond earth" which is as the importance of the u.s. space program and human space exploration. it's 15 minutes. >> and now joining us is claude piantadosi. what you do for a living? >> really, i am a physician. i work mostly in taking care of patients with respiratory diseases. but i do have a strong interest in research and extreme environments and, of course, the ultimate extreme environmental. >> host: where did that interest come from? >> guest: well, it grew out of my time in the submarine force during the cold war in the navy. of course, submarines are controlled environments. and i developed an interest in the problems of life support in submarines.

but when you deliver it through these third-party enterprises fannie mae and freddie mac, and you deliver the subsidy through public company with private shareholders and executives who can extract a lot of that subsidy for themselves, that is not a very good way of subsidizing homeownership. >> now booktv interviews dr. claude piantadosi about his book "mankind beyond earth" which examines the importance of the u.s. space program and human space exploration. it's 15 minutes. >> host: joining us at duke university on booktv is claude piantadosi. what do you do for a living? >> guest: really i'm a physician and i work mostly taking care of patients with respiratory diseases but i do have a strong interest in research and extreme environments and of course space is the ultimate extreme environment. >> host: where did that interest come from? >> guest: well it grew out of my time in the submarine force during the cold war in the navy and of course submarines are controlled environments and are analogues to spacecraft. i developed an interest in the problems of life support submarines and add

when you deliver it through third-party enterprises, fannie mae and freddie mac -- when you deliver the subsidy to a private company with private shareholders and attempt to extract for themselves, that is not a good way of subsidizing homeownership. >> christopher hitchens, and gretchen morgan's , are a few of the engaging stories. history and american history professor joanne friedman discusses how the concept of honor affected alexander hamilton throughout his life. she maintains that his desire was so strong that it led to duels with aaron burr, which ultimately killed him. the alexander awareness society hosted this event. it is about half an hour. i have the pleasure of introducing joanne freeman. history with the museum and even longer one with alexander hamilton. 25 years ago, john herzog approached this young woman who had already curated an exhibit on hamilton. that became one of our earliest exhibits. that was joanne freeman. her history with hamilton is extensive. we have many hamiltonians in the audience. how many of you have read all 27 volumes of the papers of alexander h

it is a two-run homer for freddie freeman. the nats come back. 7-1 braves in the sixth. anthony rendon to left center and cuts the lead to 7-4. now 7-6 in the top of the ninth. danny espinoza with a chance to -- strikeout. orioles continue to pound the ball. bottom of the third against st. louis. nelson cruz will crush one to left center. that is his 30th home run. right now the orioles lead it 9-3. they are in the sixth inning. rory mcilroy has lost his lead at the pga championship, now in a four-way tie with rickie fowler, ryan palmer and jason day late in the third round. tiger woods is not playing because tiger woods did not make the cut yesterday. however they can still play an exciting golf tournament without him there. >> let's h >> showers moving through parts of the viewing area. >> you can see right now hrough prince william and even western charles county a few showers. they will continue to diminish in the next couple hours. tomorrow a repeat performance of today. partly sunny, warm and humid with a few isolated showers in the afternoon. only a 20% chance. mo

he holds a unique perspective having served at freddie mac and that is cripple to our economy. has changed. this is the huge story. let's try to put it in english. if there is a crisis, can we handle the crisis now given that there are fewer players to handle our debt market? >> yes. of coarse we can. i do not think the fed is going can. of course we i do not think the fed is going to do that on the intermediate term. when they raise rates, how are they going to do it? i think all signs point to it being gradual. i just do not see the fed doing anything to sock the financial markets into major disruption. >> but doesn't that reticence to make decisions lead us down the road to bigger shocks? that has always been the argument, that at some point you need to take the way of the punch bowl, but as we were discussing earlier, i do think that a normalized fed funds rate could we lower than what we have seen in the past. >> within that and the greasy oil within the engine, the bond market and the short form commercial paper market, for that matter, is it slowing "normally" now? >> ye

freddy marcano nos coment lo siguiente: "la culpa puede ser de ambos, la diferencia est en quin respeta quin tiene ms conciencia al momento de actuar" fs 2 por su parte, erika orellana opin: "peatones, porque siempre se cruzan sin mirar a ambos lados creyendo que por ley el conductor tiene que parar" muchas gracias por sus comentarios... cam 2 cesar ...no se olvide de escribirnos al correo "noticiero t 48 arroba telemundo punto com" ... anchor gracias por acompanarnos, los dejamos con el noticiero nacional de telemundo... --- ( ♪ mÚsica ♪ ) >> hoy dÍa en el noticiero telemundo muere otro afro americana mo, en donde escala la violencia y la tensiÓn. >> impresionantes imÁgenes del rescate de muchas personas. las autoridades buscan el complot de 2 estudiantes de california a horas de planear un baÑo de sangre en su escuela investigar los

freddie with the homerun. and phillies weren't done there. darrin ruf you got him darrin ruf plays first base tonight and he hits a homerun. but cole hamels started leaking oil and in the eighth inning he really leak it. up three-zero. three hiv two. cabrera homerun for nationals. rue tone play and the short stop screws the up ben revere on with the error. it was challenged ruled an are roar and the phils win it four to three. >> thank you, howard. >> any time. >> have a good night. we'll see yo [captioning made possible by warner bros. domestic television distribution] >> today on "tmz," >> this is sad news. suri cruise, who rescued a dog just a month ago, now is looking for that dog. the dog is missing. >> suri wanted -- she took the collar off the dog and the dog pulls it out of the front gate. >> this is like what katy did. >> marlon wayans is being sued for racial discrimination. >> this guy says he does not look like cleveland from "the cleveland show." >> marlon instagramed a picture saying doesn't he look like cleveland. to be fair to

bottom 3rd/ 2-0 braves jason hammel gives up a 3-run home run to freddie freeman 5-0 braves top 4th/ves big nate freiman gets all of this one a 2-run homer off alex wood 5-2 braves botom 6th/ 5-2 braves phil gosselin deep to center off jesse chavez his first career home run a 2-run job. the braves hit 4 home runs in the game final: 7-2 braves the angels beat the rangers the a's now lead the a.l.west by only 1 game the most important thing about the nfl preseason is avoiding injuries. didn't happen for the raiders tonight. hosting detroit at the oakland coliseum. this ice bucket challenge is all the rage these days. yesterday seahawks coach pete carroll got doused. all for a good cause. .to raise money for als research. carroll then challenged all the other nfc west coaches. including jim harbaugh. .who was asked about it today. the 49ers begin their new era at levi's stadium sunday versus the broncos then after the game. join me and bip roberts for a full recap. highlights. postgame. the fan experience. .the traffic experience. plus. it's all this sunday night at 9.right after the ne

under water, the two biggest criteria are that your existing mortgage must be owned by fannie mae or freddiemac. a lender can check that in about five minutes if you give them a call and that's the starting point to see if you really qualify. >> so maybe not hope but there is harp and call your lender and ask about it. >> said another way, with harp there is hope. >> with harp there is hope. we like that dan, always good to have you here. >> thank you very much. >>> that's it for wusa9 news. we'll be back of course at 5:00. we're always on wusa9.com. have a great day. howard and i will see you tomorrow morning starting bright and early at 4:25 a.m. bye-bye. >> abby: there are some crazy methods out there. you would not believe it. >> victoria: wilderness birthing. that's a thing? that sounds very...wild. >> abby: it's very popular in some parts of the world. not that i would ever suggest it for you since you do have a high-risk pregnancy. uh, unless it's something that appeals to you. i mean, we could totally do that. lots of women rave about that. >> victoria: i'm sure that they did in 1734

when you deliver it to the third bharti enterprises, fannie mae and freddie mac, when you deliver through a public company with private shareholders and executives who can extract a lot of that subsidy for themselves, that is not a very good way of subsidizing homeownership. >> christopher hitchens, and morgans,nd gretchen are a few of the engaging stories. several live events to tell you about today here on c-span. this includes a middle east institute on religion and diplomacy. that is at 10:00 eastern. sonnoon, the hud institute looks at the national security threat posed by iran and isis. a discussion of the u.s. strategy in iraq at 2:00 eastern. here are some of the highlights for this weekend. friday at 8:00, and history to her looking at the civil war. saturday at 6:30, the communicators look at the technology fair on capitol hill. sunday on "q and a," pat buchanan. on c-span2 friday night at 8:00 eastern, books on hillary clinton, barack obama, and edward snowden. and the sunday morning at 10:30, we tour casper, wyoming. and the c-span3, the negro league's kansas city monarchs. a

fannie and freddie are largely in their own little words, unpunished. and the politicians who goaded them on are now doing speeches. >> the politicians that goaded them on, some of them obviously should not be in politics any more. >> the secures and exchange commission knew they were doing it. >> who forced them? andrew cuomo forced them. they told him to do loans. they told them to do sub prime loans. >> no, no. charlottesville le-- charlie th did not. you knew it was going to be a loss. >> you should lower your standards and do more sub prime loans and they influenced them to do that. in order to do that, you have to secure -- >> you don't have to -- >> keep them on their balance sheet. >> you can't do the sub prime -- >> let me say this. you're telling me andrew cuomo said to securityize these morages and sell them to pension funds -- >> stop! let's not forget alan greenspan, i have the quote. he started all this. he loved sub prime lend. he goaded them on. he said it was the greatest thing ever. great technology. and alan greenspan writes books. >>

freddie mac and fannie mae.go through the doj priest release you see statements from a lot of people. what that says to me as insider, these are people looking with their hand out to get some of this money. david: right. by the way, bank of america, as i mentioned is up 4% which sound crazy. >> right. david: until you start looking at how they're paying for this. in fact, one thing that they get for paying mostly in cash, is a $4 billion tax deduction. >> correct. david: so you take 4 billion off the top. take increase in the stock value, they end up doing pretty well? >> they are going to end up doing pretty well. they will put it behind them. look, i don't like these december. these are strong arm tactics by the government. david: right. >> as lawyer in most states you're not allowed to threaten people with criminal prosecution to get a civil settlement. ultimately the bank made a business decision with lawyers with fans at this suits and wing stip shoes to cut this deal to move forward and the market is refle