you support eliminating fannie and freddie as they are today? >> i don't have an opinion on whether there is a fannie and freddie. i think they are roles that somebody will have to play in the process.

they knew they had one place to float them, fannie and freddie. that's what the federal reserve is buying. this toxic junk from fannie and freddie. how did they make so much money? they sold their crap to the federal reserve. what a happens when the crap when it blows up, we don't know. >> okay, so you don't like them. >>> driving electric cars and driving taxpayers crazy. the forbes gang is leaving us busted. >>> why more bosses are saying no thanks to millenials who think they deserve our thanks, just for showing up. we report. you kids stop being so snide. if i got to go to college, oh my goodness. i like discovering new things. you get to see what works for you and what doesn't. that helps you evolve as a person. and you get to make like a supernova of skill or talent or whatever it is. i've always wanted to go to college. i just feel like that is my destiny. my name is queen, and i am your dividend. >>> she's busy. >> didn't realize on the phone was rupert murdoch. >> young, restless, clueless? think about this hiring a millennium. according

they knew they had one place to float them, fannie and freddie.t's what the federal reserve is buying. this toxic junk from fannie and freddie. how did they make so much money? they sold their crap to the federal reserve. what a happens when the crap when it blows up, we don't know. >> okay, so you don't like them. >>> driving electric cars and driving taxpayers crazy. the forbes gang is leaving us busted. >>> why more bosses are saying no thanks to millenials who think they deserve our thanks, just for showing up. we report. you kids stop being so snide. how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 70% of r mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> s

they knew they had one place to float them, fannie and freddie. that's what the federal reserve is buying. this toxic junk from fannie and freddie. how did they make so much money? they sold their crap to the federal reserve. what a happens when the crap when it blows up, we don't know. >> okay, so you don't like them. >>> driving electric cars and driving taxpayers crazy. the forbes gang is leaving us busted. >>> why more bosses are saying no thanks to millenials who think they deserve our thanks, just for showing up. we report. you kids stop being so snide. so,as my personal financial psychic, i'm sure you know what this meeting is about. yes, a raise. i'm letting you go. i knew that. you see, this is my amerivest managed... balances. no. portfolio. and if doesn't perform well for two consecutive gold. quarters. quarters...yup. then amerivest gives me back their advisory... stocks. fees. fees. fees for those quarters. yeah. so, i'm confident i'm in good hands. for all the confidence you need. td ameritrade. you got this. >>> coming up, angelina

just how solvent are fannie and freddie?annie and freddie made a huge mistake during the bubble years and cost taxpayers times of money. they have new management, and with a new management coming in, they wanted to play a quiet, behind-the-scenes, traditional role, rather than being aggressive like a wall street type role. they have to recover all the taxpayer money, and now they are making a good profit which will turn over to the u.s. treasury. so it is money for the taxpayers coming in. fannie and freddie have made tremendous progress after the mistakes from past management. of the fannie and freddie special role of government-guaranteed mortgages, the government borrowing rate -- at the u.s. government can borrow at 2%, then fannie and freddie would be able to borrow something a little above that. the government guarantees they can pass on that low borrowing costs to the consumers. that is why mortgage rates today are at 4%. host: fannie and freddie now expecting 3% down? guest: they are looking to 3% down payment along

fannie mae and freddie mac will approve 3% down, 3% down payments for mortgages.that seems really incredible given how high lending standards have been since the housing bubble, what happened to, oh, you have to now put in 25-30% just so we don't see what happened before happen again. but will' laxing -- relaxing standards entice buyers back to the market, or are we just repeating the same mistakes that led us to the mortgage crisis? joining us with the details and reaction from washington, peter barnes. 3% is stunning. what do you think prompted this? >> reporter: well, liz, you know, fanny and freddie and the administration want to try and get more mortgages to more people, but this move comes six years after the financial crisis that triggered $185 billion taxpayer bailout of the companies. so it's got some folks concerned. now with these announcements today, these kinds of loans will like start becoming more widely available in the new year, lowering the minimum down payment at fannie and freddie from 5% currently to 3%. the company said they want to get more

fannie mae and freddie mac were mandated to hold those type of assets. mortgages inadequate volumes they began to buy securitized subprime's. s. that was a major problem in the financial crisis. my view is that fannie mae and freddie mac of never existed -- is if they had never existed, we would have had a bubble problem but not the severity in the way we did. >> what do you make of that statement, dr. schiller? >> fannie mae and freddie mac -- fannie mae was started in 1938 in response to a housing crisis. before that, dr. greenspan is right, we did not have government support for the housing market and they did not think we needed it. this was the american dream back then. it was a new idea. we could get along without it but certainly, that would be a downer for the housing market. if we get any whiff that fannie mae and freddie mac will be curtailed, that will have a psychological effect even sooner on the market. >> how much of a downer for the housing market? if fannie mae and freddie mac did not exist, it's impossible to conceive right now, but if

and how is fannie mae and freddie mac backing you up? doddy herman delighted.eal estate jasonmeister scared. you like it doddy. why? >> yeah. i was saying millennials, first time buyers. a lot of them have the income, but to save 20 percent, that's a lot of money. so the sector that was really doing the worst was the entry-level, first time buyers because they didn't have down payments. now they can buy. >> i think it's insanity. i think einstein said the definition of insanity is doing the same thing over and over again and expecting a different result. neil: and he was talking about real estate. >> exactly. neil: you're worried we will go back to the no money type loans. it will get frothy. >> it's getting frothy. but there's no skin in the game. canada has 20% down payments. don't have fannie mae and freddie mac. and they're 20th percent of our default rate. they're doing something right. >> a lot of them don't own homes. this will be different because they're only doing them on conventional mortgages. that's how it is now. and for a lot of people, and, agai

many people have said, we are leaving the fannie, freddie trade.have said there is nothing left in the trade. can a guy like bill ackman say, of course you can fight the government. if they break the law, they break the law. that heteworthy continues to be in the trade and add to his position. >> he is continuing to fight and has talked about taking it to the supreme court. >> he has got brass balls. it is pretty clear to me that he has an iron gut. 4%balife sells as much as that he has new evidence that is that a pyramid scheme. pretty much every single time bill has spoken on record, on tv, via phone about herbalife, the stock has gone up. since his last presentation in july, it has steadily gone down. the biggest decline we have seen and he speaks today and it is down almost 4%. --the pre-done tatian presentation seemed like a watershed. it is one of these things where he is plugging away and starting to do well. >> i argue this point with bill in the past. he is a fiduciary. he said, i will take the trade to the end of the earth. worthieves her

toi want to shift topics fannie mae and freddie mac.en very active on the sun -- on the subject of reforming these insurance giants. first of all, with this, as you well know -- were all i know you may be advising these guys, hedge funds have been trying to make the case that fannie and freddie have been sweeping profits into the u.s. treasury. has beentreasury sweeping profits into its own coffers. is that deal way? >> i am not representing those guys. the courts are going to handle this, there are four or five lawsuits pending, taking action, complaints that this violated the administrative procedure act. the more interesting question to me than the one i have been more trying to be a part of the we ande on is -- how do the conservatorships? we have government control over the two largest factors in the insurance market. this cannot be a result of the republican or democrat embrace. the issue is -- the administration supported the effort, the legislative effort that senators corcoran and warner started and johnson picked up and ran wi

when paulson got authority to put fannie and freddie into conservatorship.put capital into them to prevent their collapse, congress did not give the secretary of treasury any power over what they did. just power to give them money. not power to influence what they did. so i will give you an example what that meant. so we, we, you guys understand there is a good economic case for principle reduction in financial crises, particularly for people at risk of losingp their homes. so we spent ais lot of time looking at the case for principle reduction. we came to the judgment, not as early as i think i should have there was a pretty good case for doing it, letting fannie and freddie do it. we went into the big effort with fannie and freddie to convince them to do targeted program of principle reduction that would have benefited hundreds of thousands of people. we had no authority to force them to do it. we laid out numbers for them. tried to make the economic case for doing it. they didn't want to do it.ic so even though they existed because of the money we were gi

about the reform of fannie mae and freddie mac? >> they are essentially the market. >> 40% of the market with private capital. >> i think that's an important question. there is lots of people who think now that maybe fannie mae and freddie mac incrementally modernizes and changes and a couple of years down the road, way, blesses the changes taking place. >> you think they reform themselves? >> it could happen. >> is that happening? >> we are starting to see some reforms like rich just risk chance for a. just risk transfer. imagine anything like fannie mae and freddie mac question mark have people on extremes of the two parties saying that government should be the total market. others say government should be totally out of the market. even others say they sure -- there should be some blend. if you're going to have private capital, we have to get paid for that. today, credit is pretty attractive in the pricing. to make a 30 year fixed-rate mortgage around 4%, that is a bargain. >> that is a bargain? i think so. my first loan in 1975

they lend you the money but then they're going to sell that mortgage back to fannie and freddie. that's hard to say, those two. they're setting the rules generally. that is it why we really care what fannie and freddie are up to. >> you made a good point that this could cut down on speculation if you have to actually live in the home. >> absolutely. you have to have really solid credit. maybe you have an excellent credit score, you've never owned a home but you don't have a ton of bank on hand. but you can prove to the bank that you're going to make money in the future and you'll be able to pay your house, this is what it's really set up for. when it was back in the crazy days, it was not so obvious you were going to be able to pay this back. >> so there's a high bar of proving future earnings to be able to get this. >> exactly. we're okay with you not having mu much. >> thank you. >> even with the rain this week, conservation is as important as ever. kris sanchez joins us live from hayward this morning with what the utility is proposing. good morning, kris. >> reporter: hi, laur

mortgage giants fannie mae and freddie mac say americans will soon be able to buy a home with a down payment as low as 3%. the new lending guidelines are designed to help more low income and first time buyers afford houses. the standard down payment for mortgage insured through fannie and freddie has been 20%. >>> a critical three digit number can determine whether you can get a loan or a job. we are talking of course about your credit score. what should you do if there is an error on your credit report? consumer reports has partnered exclusively with 7 on your side to find out. here is michael finney. >> a consumer report survey finds close to half of all americans never check their credit report. this even though errors can wreak havoc with your finances and take a long time to untangle. nathaniel louis is hoping to move out of this apartment and purchase a home but recently when he went looking for help to apply for a mortgage, he discovered his credit report showed he had bad debt totally more than $180,000. >> when i saw what was on my credit report i was flabbergasted. 80% of i

freddie mac will begin a more limited program in march. more investors on the main bill capitalnd fund at janus , they received about $770 million in new money in november, bringing the total assets of the fund to over $1 billion. the bond returned 4/10 of 1% over the past month. a 1909 baseball card featuring honus wagner has sold for about $403,000. the card was sold by a private collector and was bought by an undisclosed bidder in an online auction. the card is one of about 60 such cards in existence. in april of 2013 the card sold ar $2.1 million, a record for baseball card sold at a public auction. that is a look at the top stories we are following at this hour. the u.s. congress faces of thursday. -- there's a deadline to finance a massive spending bill to avoid another government shutdown. the outcome could hinge on government policy changes that they are trying to tuck into the bill. peter cook joins us with the latest. republican leaders sound confident the showdown can be avoided. >> they do sound confident at this point that the

. --- ''freddy swanson'' de 23 aÑos de edad huy al subirse por conducto de ventilacin y romper una ventanaa luego saltar del techo de una rea de rehabilitacin del penal... --- ''swason'' fue arrestado la semana pasada por posesin de drogas y armas ...y es descrito como un hombre blanco de ojos y cabello marrn... mide cinco pies y 9 pulgadas de estatura y pesa unas 160 libras... cualquier persona con informacin se le pide que llame a las autoridades.. lorena facebook lorena ---momentos aterradores... vivi una persona abordo de un velero en las aguas cercanas a monterey... take vo --- la guardia costera recibi una llamada de emergencia desde la embarcacin ''apster''... y tras la alerta varios buques estuvieron monitereando la zona... --- minutos despus la nave fue detectada y el nico tripulante rescatado por un helicoptero y luego trasladado al hospital... lorena/topvo mientras tanto en sausalito, una mujer fue rescatada de morir ahogada ... ---rescatistas del departamento de bomberos y de la guardia costera comenzaron la busqueda de la seÑora que salio a nadar a eso del mediodia el da de ay

. --- ''freddy swanson'' de 23 aÑos de edad huy al subirse por conducto de ventilacin y romper una ventanaa luego saltar del techo de una rea de rehabilitacin del penal... --- ''swason'' fue arrestado la semana pasada por posesin de drogas y armas ...y es descrito como un hombre blanco de ojos y cabello marrn... mide cinco pies y 9 pulgadas de estatura y pesa unas 160 libras... cualquier persona con informacin se le pide que llame a las autoridades.. lorena facebook lorena/ots ---mientras en tanto los nimos siguen caldeados en berkeley missouri ... take vo ---luego que otro joven afroamericano muriera a manos de un polica... -- decenas de manifestantes continuaron sus protestas en la estacin de gas donde ''antonio martin'' de 18 años de edad muri abatido por el agente... --- recordemos que en ferguson se desat una ola de disturbios tras la muerte de michael brown ... pero los investigadores dicen que esta vez la situacin es totalmente diferente ya que el sospechoso apunt con un arma al oficial... lorena/topvo ---en nueva york...la ciudad se est preparando para los servicios funerales del a

>>> a monterey county jail inmate is on the land after pulling off a truckie mistake. 23-year-old freddy san son climbed up a ventilation duct, punched out a small window and escaped. he was arrested last week but had yet to be sentenced. he is 5'9", 160 pounds with brown hair and eyes. anyone with information about his location are asked to call 911. >>> two of her sons were killed within weeks of each other nearly one year ago. we have the message of hope. >> reporter: they prepared christmas dinner just as they have for years. only this year danielle placed two empty chairs, plates, and photos at the table. her only children both shot and killed within weeks of each other. >> 13 years old old at the time of his murder. now 14 years old. this is my other son 19 years old at the time of his murder. >> reporter: on this christmas while other families celebrate, her sons killer remains free while she grieves. still she is determined to keep their memories alive. >> just remembering them at christmas. >> reporter: and in honor of their spirit what keeps her going is the fight for justice.

and he and freddie are back, going to go back to mortgages at just 3% down.ome restrictions, cheryl casone he watches real estate for us. the first thing you say is isn't this what got us in the mess in the first place? >> the truth is the housing market needs this right now. offering 5% taking it down to 3%. this is targeted for first-time homebuyers which i have said needs to get into the housing market for a full recovery. habits he praises prizes mellow out, which we have but also low income buyers as well. credit scores, w we'll talk abot this. at least 20. remember back in the day 500 change. charles: if you had a pulse, you were good to go. >> you have to prove you have a job, job status, income and assets as well. the agencies requiring borrowers to receive homeownership counseling. that is a new one we haven't heard before coming from any government backed agency alone fannie and freddie. charles: there was some pushback by people thinking it was not fair. insulting the intelligence of the buyer, but i think you are right. they have to get it at 40%

neil: real estate appraisers to fannie mae and freddie mac. reports that home appraisals are going back to be generous by eager lenders adding extra pressure and, of course, fannie and freddie are making that down payment a little extra easy in some cases as little as 3 percent down. scott, i almost think if this continues, we're begging for another housing crash. i'm all for giving people a break. but these the same type of breaks that led to the last break down. >> we saw how the movie ended. this is a tough one. if you look at banks today, they're pretty darn well-capitalized. neil: they're going to unshorn their sheets. >> that money has to go somewhere. there's an old: if it isn't lent, it isn't spent. the banks are -- >> so witty. very good expression. >> if you don't get that money out of the bank coffers -- neil: why would the banks risk doing the very thing that got them in trouble before. >> otherwise the banks sit on the cash and don't make money anyway. >> which is exactly why they should raise interest rates. there is no incentive

mac aren't apart of it. >> fannie mae and freddie mac don't have insured deposits. whether we want insured deposits -- neil: you're looking through that prism. it's to be understood. very crucial role. in its aggregate, they're saying it's just overreach. >> well, look, i would go the other way. i would go full stop and move it out of the insured banks. it's not that it will happen. it will be done in a broker affiliate that does not have insured deposits supporting it. that's a good thing from a market perspective. the market decides how much resource, how much financing will be allocated to that. what the pricing will be. unlike insured deposits. there's no discipline with that. there are costs involved. the more we can narrow the types of activities, i think that's a good thing, a something i hope that market based conservatives would support. neil: those conservatives think the law goes too far. warren is on record saying she likes the law. doesn't go far enough. she's a possible challenger to hillary of the nomination. what do you think of her and whether she s

this is walking right down the same path that the housing crisis that fannie and freddie gave us that catalyzed the recession. and indifferent to the fact that it's a team sport, democrats are more bemused by him. if ted cruz seeks the republican nomination and doesn't get it? then what? he has to come back here? that's awkward. >> "her hard left economics, what the press exactly refers to as economic populism propels today's liberal argument. it's the default position of nearly every grassroots constituency on the left. the center of the democrats' agenda." >> she's going to run against wall street populous. it's called, what exactly is she going to do if she brings it down? if you want to break up the banks? a lot of conservatives will support that. but what is more interesting -- and incidentally, i think she ought to run. i'd love to see her run. it would be a festival if you're a conservative or a republican. we put up anybody on the other side it would be a good night on election night. but cruz is a very interesting guy. you heard in that clip, he said, you have to decide if yo

now fannie mae and freddie mac-backed loans offering 3% down paints back to prebubble type loaning.racy: right. >> i it is actually a dangerous thing when the housing market is being promoted or homeownership promoted by the government, fannie mae and freddie mac. that something we should be watching as well. tracy: rick, we have to jump but what is your prediction for 2015, housing market up or down. >> it will be flat for 2015. 4.1 to 4.9 million homes sold. near half a million. virtually the same number this year. tracy: thank you so. selling in december sound like a good thing to me especially if you're in miami. thank you all. search-and-rescue a coalition pilot captured by isis after a plane crash. why the military is not jumping to get him out. facebook prying ice getting into a lot of trouble. the tech giant face as big lawsuit after looking through your private messages. more "money" coming up. ♪ it's more than the driver. it's more than the car. for lotus f1 team, the competitive edge is the cloud. powered by microsoft dynamics, azure, and office 365, the team can gain rea

somebody called me freddy krueger the other day.i was like, how dare you. >> stafford has been offered nail trimmers several times today. today is his final day. >> how are you doing today? >> awesome. >> outstanding. remember the nails, sir? over a quarter of an inch as per regulations. let me see it, let me see your nail. they're exceeding a quarter of an inch. the policy. mr. stafford. i'm going to give you the clippers to cut your nails sir within a quarter of an inch. otherwise, have to get sergeant to take care of it. and you also will receive extra. you understand what i'm telling you? okay, i'm going to open this flap sir, and give you the clippers. you're not going to do it? >> no, no. where's your ruler? >> all right, sir. we'll take care of it. i'll have sog come in and do it. >> three shots. yes, this is sarge with inmate stafford. over an inch quarter. i asked him to cut his nails and he refused to do so. i asked for assistance to get that done. >> the special operations group sends a three-man team to stafford's cell t

we evolved over time into fannie and freddie, investment banks, big insurance companies, a whole universeof non-bank financial institutions, this complicated world of essentially banks. more risky because they were not restrained in terms of leverage and they have no had no access to deposit insurance protection against runs. in our system the fed's reach was limited to a part of the banking system, but the banking system was only about 40 percent of the financial system and credit. at other 60% was was much more risky, very vulnerable to runs. when i got to the new york fed i think what worried me most was the mismatch between where there was risk, we constraints, someone nominally in charge and the scope of the firefighting authority. i knew that when things fall apart people generally safe, where say, where is the fed. what are you going to do about it. we have pretty limited tools. i wrote a fair amount of what in the face of that i tried to do, we tried to do to lean against the forces of optimist that were causing this big boom of leverage and risk. those efforts were, of course, ve

freddie mac and fannie mae are going to offer loans with down payments as low as 3%. good to see you, landon. thanks. >> americans shelling out bigger bucks for their cars these days. according to new data, automakers are on pace this year to sell more than a million vehicles in the u.s. costing at least 50,000. that's up more than 30% compared to just last year. two types of vehicles driving up those sales are luxury models and high-priced suvs tend to be trendy. >> scientists on a federal task force say natural conditions, not human cause emissions of greenhouse gases are the driving force behind the state's three-year dry spell. some people say it downplays other things that have human fingerprints on them. the meteorologist says the evidence is notes did missive of global warming but says the drought is not a consequence of the warming planet. >> whatever the reason for the drought, we've certainly been experiencing the symptoms of it. and while there's no panacea, christina, we know that some rain would not hurt. >> good morning, everybody. we need this rain. we

somebody called me freddy kruger the other day. i was like, how dare you?stafford has been offered clippers several now. today is his last chance to voluntarily trim his nails. >> mr. stafford. how are you today, sir? >> awesome. >> outstanding. remember we talked about those nails, sir? being within a quarter of an inch as per regulations? >> yeah, we talked about it -- >> let me see your nails. >> [ bleep ]. >> they're competing a quarter of an inch. >> you say a quarter of the inch, where is it -- >> in the policy. it's a "d" charge. mr. stafford, i'm going to give you the clippers to cut your nails within a quarter of an inch, okay. failure to adhere to that, i will have to get s.a.g. to take care of it. all right? you also will receive extra sanctions for it, sir. do you understand what i'm telling you, sir? >> i'm done now. >> all right. i'm going to open this flap, sir, and give you the clippers. you're not going to do it? >> no. no. where's the rule? because i -- >> all right, sir, we'll take care of it, okay? if you're not going to do it i'll have

got a little freddie mercury.ot of freddie mercury. [ cheers and applause ] >> seth: he was great. what a good improviser. [ laughter ] >> i know. just yes, no. no for, you know, a goalkeeper, when it comes to acting, he's a hell of a goalkeeper. [ laughter ] no, he was a super nice guy. >> seth: so this is it, this is what's happening today, "second chance theatre." >> yeah, i'm flattered. what's this the second installment? >> seth: this is second installment. >> i was in the first one too. >> seth: the first time you came on the show i got you to commitment to this one, "juggling flyer." >> and look at you now. >> seth: look at you now. a man of my word. >> as are you. >> seth: tell us a little about this sketch and what made you write it in the first place. >> well, it was literally, it was like march of '08 and i was walking around the west village and i saw this actual flyer. this is a photo from my iphone 3. who knows. you do the math. [ laughter ] and i saw it and all the tags were still there. it was on a

. --- ''freddy swanson'' de 23 aÑos de edad huy al subirse por conducto de ventilacin y romper una ventanal techo de una rea de rehabilitacin del penal... --- ''swason'' fue arrestado la semana pasada por posesin de drogas y armas ...y es descrito como un hombre blanco de ojos y cabello marrn... mide cinco pies y 9 pulgadas de estatura y pesa unas 160 libras... cualquier persona con informacin se le pide que llame a las autoridades.. lorena/ms --- en san jose... una familia de cuatro pudo escapar de las llamas en un incendio registrado la maÑana de este jueves en una unidad de apartamentos. take vo --- el fuego se registr en "palm grove court" despues de las 8 de la maÑana. --- una persona result con quemaduras leves mientras que el incendio ocasion daÑos menores a otras unidades. --- se cree que el fuego se produjo por velas desatendidas. lorena/topvo --- mientras tanto en la ciudad de san francisco bomberos sofocaron un incendio de tres alarmas en el barrio potrero hill --- --- mas de 100 bomberos lucharon contra las llamas que destruyeron tres viviendas. --- los fuertes vientos amenazab

. >>> fannie mae and freddie mack say they have a new plan to make homeownership a possibility for more americans they would lower the loans to 3% for single family homes. they say the plan contains safe guards that contained abuses that led to the subprime market crash. >>> amazon customers have a new option to haggle over the price of certain items, can you negotiate for the one of a kind items, in the make an offer function, it's only available for certain sections like fine art, sports and entertainment collectibles. >>> health check this noon, there is a new virtual medicine service that allows a person to see a doctor without leaving their house, wall greens testing the telemedicine app, they can reach a doctor any time of day for treatment of non-emergency illnesses like pink eye or bronchitis, the doctors are licensed to practice in the states and write prescriptions. walgreens will expanded program if incomeself. >>> "action news" is working on stories beginning at 4:00, throughing a mother's plea for help after someone stole her locket. this was no ordinary locket, it held her

a task force is looking to find freddy san son who escaped on christmas day. he climbed up a ventilation duct and punched duct. >>> enter at your own risk. that is a warning after a weekend shark attack. park rangers say a man in his 50s was bit on his hip while surfing yesterday morning. he was able to same to shore and was take ton the hospital with what appears to be nonlife threatening injuries. 12 other surfers were in the water at the time. >>> at least five people have died from from a fire on board a ferry. 478 people were on board. most have been rescued. about 80 are still on that ship. the passengers are being air lifted by helicopter to other ships nearby. >>> a 13 yearlong war has ended. the ceremony took place in kabul yesterday. it was set up in secret due to the threat of a al van attack. nato's combat mission will be replaced by a training and support mission. 13,000 troops will stay in afghanistan to train avenue an security forests for their fight against the taliban. >>> george h.w. bush could be released from the hospital soon. doctors say

. >>> guards believe 23-year-old freddy swanson jumped a barricade. at the time of his arrest, he was carrying a loaded firearm that had been stolen days earlier. >>> okay i'm sure many of you at home felt this today. x box and play station out of service and hackers say they're responsible. what we're learning about the christmas day outage. >>> and in weather we are in the clear for tonight but also dropping temperatures. coming up the coolest morning over the next few days. we'll also let you know if we have any rain clouds to talk about in the five day forecast. >>> the jordanian parliament threatened islamic state militants with grave circumstance substantiations. if they harm the jordanian pilot when it went down yesterday. the pilot was captured after his jet crashed in north eastern syria. today the family asked that he be welcomed as a guest. so far the militants have not commented on the fate of the pilot. >>> former president george h.w. bush spent christmas in the hospital. the elder bush remains under care but is said to be in great spiri

a state wide alert has been issued for freddie swanson, fishlgs say he escaped a rehab area of the gayle aisle, climbing into a ventilation duct, jumping off the roof. he's a white man 5' 9", brown eyes, brown hair. if you see him or have information on him, you are asked to call 911. in many households, christmas is synonymous with church, food and family. it means chinese food. again this year, local restaurants are cashing in on the tradition. michel roberts is live in santana row. the attraction is still over, michelle. >> reporter: that's right t. movie theater people are getting out of the last goings here. chinese food and some meant big business today. on christmas fight the presence of an open shop and a shot in the dark. >> we've had people come in, you are the only restaurant opened. >> reporter: the phone hasn't stopped ringing in campbell. matthew ying estimates sales are double or trippal normal thursday. >> crazy, exhausting, and fun. >> reporter: they enjoyed a traditional turkey dinner last night. so in order to avoid dishes and eating the same thing again. they aren't a

fannie and freddie mac are offering mortgages with 3% rates. they are going to help low income buyers, but they say they could lead to the same problems as before. >>> and honda has recalled cars in every state. until now, it's only in states with high humidity. the government is requiring a nationwide recall. honda is the only one to reply. honda's repair list is 5.4 million vehicles. >>> and bringing back french toast crunch. debuted back in 1995. the company says french toast crunch is coming back because of the overwhelming demand of fans on social media. it will be on shelves by the end of january. >> great news. >>> as santa is getting ready for the big night. we have word on what his salary should be. his 2014 salary should be just under $140,000. that's up more than $2,000 from last year. the index uses government wage data to estimate his pay. he brings home the most money for managing his toy factory. >>> when we come back, the royals in new york. >>> plus attempted kidnapping caught on camera. the massive manhunt under way, and what

is 36 years old and who may be his replacement they drafted a nice young shortstop in crawford so freddy galis will likely be the shortstop in the interim. >> all right ducis we'll have more later. >> word has come that missing student shane montgomery is finally showing up on surveillance video and that led police to the schuylkill river, this is the scene as the marine unit was scouring the river today near and under the railroad bridge, montgomery has been missing since thanksgiving morning after leaving kildare's irish pub in manayunk. david henry is live on main street tonight. could this be the information police are waiting for. >> reporter: well possibly the information the police and more importantly shane's family is looking for. they could get news that might confirm their worst fears. this show appears to show shane crossing the small bridge heading towards the river. this is the camera shot it's at a tilted angle but clearly shows the small bridge across the canal, that leads to a parking lot across the river, crime scene investigators crossed the river and its banks later t

by the way, the government is still telling fannie and freddie to support mortgages with only 3% down. >> i know. well, jon, mike brings up a good point. incentives matter. even when there are, a lot of them for sol or companies, for sin fuels, for health insurance, those incentives have broken down, but we don't want it? >> government shouldn't be creating incentives. this speaks to hubris in major way on the part of the political class that is too common. if you talked to the best investors in the world they freely acknowledge they're incorrect nearly half the time. knowledge inside the obama white house or any white house about the future buying habits of consumers laughable. government shouldn't invest, period. >> rick, this incentivizes something i know you hate which is crony capitalism, all these insiders getting these special deals from their friends in government. >> well, first, i better acknowledge my friend rich's point to stop all the nasty tweets i'm going to get. right. it doesn't take bravery to spend other people's money, and i don't like crony capitalism. you're righ

mortgage giants fannie mae and fre freddie m are make mortgages available to borrowers with 3% down payments. robert shiller is yale university professor of economics & ndd he is joining u. professor, thank you for being here today. >> my pleasure, becky. >> i'm of two minds on this. it sounds like a great idea to get more consumers in to homes. isn't this what got us in to trouble to begin with, 3% down payments? >> it is not completely new now. we have fha mortgages doing almost the same. yes, it is. it sounds risky, right, to the lender and for the mortgage insurer who will insure these. it is only a 3% margin. if someone defaults and they have to sell the house they mat. the good side is usually people don't default for a year or two at least. >> he good news is we won't have another crash for a year or two. >> that's a question. home prices -- our latest numbers are going up at 5% a year. if that keeps up, 3% margin will turn to an 8% margin for lenders in one year. >> although we have seen years where home prices may decline by 10%. >> that's what worries me. we are seeing a decelerati

freddie galvez will get the first shot. what's j. roll's next stop after los angeles?erg says it could be cooperstown. is he in the hall of fame. >> for me if he continues playing the right way and he was a leader on the team, a spark plug at the top of the order and the way he played short stop last year still one of the best in the national league. >> he can't have any regrets for the career he had in philadelphia and as i told him i just said go to l.a. and win another one. >> reporter: when that might happen again in this town gillick said it will be at least 2017 before we can even think about the phillies as contenders again. jamie apody channel6 "action news". >> all right jamie. eagles redskins tomorrow. tomorrow is a must win game. washington is the worst team in the division. eagles have won eight of their last 11 against them. here's' chip kelly leaving for washington today from 30th street station. the eagles cannot clench a playoff spot tomorrow against the redskins but they can lose it if they lose to the skins. eagles likely need to win out to get in and

. >> freddie is the likely heir immediately to take over at shortstop. rebuilding process for the phils has begun. >> we have to work for the philadelphia phillies first and foremost and do what's best for the organization. these types of trades are not easy but they're also necessary. >> this is also a move for the organization as far as getting younger and creating a new nucleus for the ball club going forward. this is a step in that direction. >> the pitchers the philly received is a righty and left hander tom wendell. >>> the flyers begin an eight-game trip without starting goalie mason. he will miss tomorrow's game and sunday's game in winnipeg. emery will likely start both weekend games. >>> the offense has had some issues the last two weeks. two losses that have put their playoff plans in serious jeopardy. mark sanchez was asked what they need to do to get back on track. >> the most important thing is sustaining drives. we can't do the three and out thing. eliminate the turnovers, get some real positive plays on first and second down and make thos

---"freddy swanson" un prisionero de 23 aÑos de edad...e fug de una prisin de mediana seguridad escalando por los ductos de ventilacin... ---swanson fue arrestado por drogas y por portar armas pero na haba sido sentenciado. cesar ---en san jose... una familia de cuatro pudo escapar de las llamas en un incendio registrado esta maÑana en una unidad de apartamentos. take vo --- el fuego se registr en "palm grove court" despues de las 8. --- una persona result con quemaduras leves y otras unidades sufrieron daÑos menores. --- se cree que el incendio se produjo por velas desatendidas. cesar ---si usted no cree en milagros y en especial hoy en navidad.. mire esta historia.. ---un hombre salvo a su vecina de la muerte cuando su casa se estaba incendiando, mientras que otra buena samaritana rescat a sus perritos. two box ---esto ocurrio en san jos y andres brender nos tiene la historia. take pkg 0.1 0.9 0.38 0.56 1.37 2.0 intro que tal pues si.. es una tragedia en plena navidad... sin embargo estos dos heroes hicieron que esta historia tuviera un

well it's about to get easier with new loans from government-backed fannie mae and freddie mac requiring just 3% down. >> i think there's a big problem with this because we've lived through it already. >> reporter: government is pushing home ownership again claiming it is the best way for middle america to build wealth. but it is really? >> it would be perhaps smarter if wealth accumulation is your goal, to rent and put money in the stock market, which has historically shown much higher returns than the housing market. >> reporter: going back to 1987, when the s&p stock price was invented, it's a long shot. long-term they yield owners more not only through appreciation but through dividends. home prices do rise over the long-term. but you have to pay into a home in the form of property taxes, insurance, maintenance, improvements, you do have to pay capital gains on stocks, but it comes out to much less. on the other hand, home ownership produces social yields. >> the point is that home ownership is also a state of mind, it tends to produce people who are good citizens, who are involved i

aisle they really want to have some sort of housing finance reform, particularly with getting rid of freddie neck. back all the paid think everybody would agree it illustrated a larger problem, is systemic problem, regards to these extenders, that is what we time and time again for folks in washington. lobbies and of trade organisation. with the housing extender i would expect a two-year extension of this. you have to qualify for it and really be in some trouble but i be a pect that this will two-year extension and maybe it will be made permanent were take a larger o package. if the next e congress, if they would want to take up a house finance package. there is a lot of politics still being worked out to figure out what exactly a congress n controlled will look like. both parties do want to act on this and they have been kicking ideas for the last year. get to what e we 140th es in the congress, how does the white house view possible extenders? guest: at the end of the day you're going to have this package of extenders and you see that the r&d is to be made permanent. will have rket we this

this is after new guidelines were released from fannie mae and freddie mac. it will now be possible for hundreds of thousands of additional consumers to get mortgages. >>> at least five new movies from sony are being pirated from online file sharing hubs in the wake of last week's hack attack. sony wonders if north korea is under attack in retaliation for the upcoming film "the interview." it's about two journalist hired by the cia to assassinate north korean leader kim jong-un. >>> girl scouts are going online. they'll only be available through a personal invitation so scouts will have to build a client list. cookie orders can be shipped directly to customers' homes. anne-marie? >> thin mints directly to my house? that is too easy, jill. at least when you get them at work, you have to share them with your co-workers before you bring them home. jill wagner at the new york pthank you, jill. >>> today the supreme court considers the issue of free speech and the internet. in particular are postings on facebook private or public and what constitutes a true threat