below fannie mae and freddie mac or completely separate? then i have a quick comment. ey together or separate agencies now? they are separate. the fha is a government agency. fannie and freddie are still technically private companies that were taken over by the government in 2008 through a legal process known as conservative ship. they have a government conservator am a little bit like a receiver standing over them. to government has war and acquire up to 80% of shares. the government is kind of the majority owner. they are a little bit different situation between fannie mae and freddie mac. i know folks that have been in the mortgage industry during this whole six years that the bubble burst. fha has been the savior of the whole thing because of the fact that you could not get a mortgage anywhere. no one with gary and teeing, banks could not buy them. one was guaranteeing them. so fha has actually been the only bright light in any of the housing market. any mortgage broker if they could still sell a mortgage, that is who they put it into. on the fannie mae and freddie

governor jerry brown currently passed a program that will address the sf concerned and freddie mac and fannie mae won't be effected. we've, participating in the state fund to make sure our properties are fully protected. ultimately in the end green finance st. is the solution we've been searching for it creates local jobs. green finance sf will if you thought cement >> is a a natural leader to errors the effects of cloiment changes and make it easier for homeownership to refinance. we have more work to do in rolling out this program i hope you'll join me and those behind me in rolling out this program. i want to thank you for being here. i want to turn it over to mayor ed lee. >> (clapping.) >> thank you supervisor farrell. it's great to see homeownership's and our labor force and city agencies thank you for coming together. we all support our assignment. this program as supervisor farrell pass very adequately explains you you know we started pace with or my proximate in 2010. it's a pretty big announcement we you will including exclude that was tremendous barriers for folks taking ini

filibuster rules could pave the way for big changes at fannie mae and freddie mac, government-backed mortgage giants. peter barnes joining us from capitol hill. he brought us the headlines. what is the texture of the story that matters to our investment viewers? >> the president nominated a democratic congressman to run the federal housing finance agency which is the regulator of fannie mae and freddie mac. fannie and freddie alone or in short $10 trillion in mortgages and $87 billion taxpayer bailout back when the housing market crashed in the financial crisis. republicans blocked the nomination last month. they were concerned this even term congressman didn't have enough experience in business and finance to run the $4 trillion agency. they also feared he would push more loan forgiveness and mortgage refinancings at fannie and freddie, something that the administration has favored but which critics say could cost the taxpayers even more money but now it looks like there will be another vote in the senate and is likely to get the job thanks to the changes in the confirmation rules.

started fortunately it was stalled out bus of the fear from the financial sectors particularly freddie mac and fannie mae. but as a result as we've throughout through it there were other participates that stepped up. i i'd like to take this opportunity to not only thank xhaerl for restarting this program and calling upon our department to lead the way with all the other partners we've identified today but; right when governor jerry brown said this was something right and the state should offer up to $10 million of back up just in case people have a fear it's about reducing the boyer's for people to make the choices by people who want to parent. we're reminded of that recently because this launch of the program is relevant today as we've all trying to help the victims of the typhoon recover and storms of this nature are on our minds as well as other climate changes as we want to make our world alert better. scientists continue to tell you those storms will only get worse because of climate change. that's why our response to 81 phenomena's has to go beyond disaster relief. so knowing that 50

fannie mae and freddie mac?en activist advocate ralph nader has called for the government to pay its duties to shareholders whom he says have turned into lifeless zombie bees. what's his latest demand? charlie gasparino has the collusive details, next. >>> and the battle of the consoles is on. first sony releasing its newest play faith 4 last week selling more than a million units in just 24 hours after the launch. now it's microsoft's xbox, one-time shine. can it match playstation's success? microsoft xbox chief marketing and strategy officer bringing some friends with us. wait until you see the demo we have in store for you. oh, yeah, the other guys didn't do that. ♪ ♪ [ tires screech ] ♪ [ male announcer ] 1.21 gigawatts. today, that's easy. ge is revolutioning power. supercharging turbines with advanced hardware and innovative software. using data predictively to help power entire cities. so the turbines of today... will power us all... into the future. ♪ into the future. sometimes they just drop in. always

at fair home, he wants to buy the insurance, the mortgage bond insurance business of fannie mae, freddie mac. he wants to do it. and also, big ackman of pershing square, take as 10% stake in the common shares of both fannie mae and freddie mac. a lot of whales getting involved in a lot of big-name stocks. scott? >> these are, what, as of the end of september? >> these are september 30, yes, on a 45-day lag, but it gives us an idea of some of the themes. >> i bring that up, pete, because it would be seemingly well timed on the jcpenney trade. >> absolutely. >> for tepper and jana, barry rosenstein. the stock had started that rise maybe right about then. >> right. right about that time. and we talked about some of monstrous positions looking for downside. they actually were totally rewarded to the downside based upon how low the stock actually got. i can understand why guys want to dip in jcpenney, because they think they're buying the bottom. i think a lot of the time, when you're trying to find the bottom and reach for a bottom, you get something you don't always want. i think that's what th

. >>> bank of america has engaged in settlement talks with government mortgage giant freddie mac after the bank was found liable for fraud after the country-wide financial unit sought millions in damages, and a bank that would shield them from so-called put-backs regarding loans sold from 2012. >>> the world's biggest on-line retailer is teaming up with the world's biggest delivery service for something that has never been done before, door-to-door deliveries on sunday from the post office. john ford has the story. >> reporter: when amazon got its start as a book seller, the biggest pitch was prices and selling. now that it is expanding into everything, speed is as important as ever. that is why today's news is especially important. working with the postal service, amazon is beginning to roll out the package delivery starting with new york and the l.a. area. for the postal service it may actually make customers happy, after plenty of talks of cutbacks to 49 cents to send first class mail. amazon will charge nothing extra, so the postal service, which had $12 billion in revenue last yea

freddie mac said the average 30-year fixed loan fell to 4.2%. and the average on a fixed rate mortgage fell to 3.27%. >>> a california jury ordered samsung to pay apple $290 million in a paerntent dispute. it covers 13 samsung devices that copied features if apple's iphone and ipad. that jury awarded apple over billion dollars. but the judge ordered a new trial and low erd the award. samsung plans to appeal. >>> united parcel service is increasing its rates. ups says its rates will go up an average of 4.9% this year. it's feeling the competition from lower priced shipping services, especially wit international customers. >>> and that cargo-hauling jub bow jet that landed at the wrong point in kansas finally made it to its original destination. the 747 took off yesterday for the nine-minute flight to the mcconnell airport. wednesday night it accidentally landed at a smaller field nine miles north of its intended destination. >>> and "the hunger games":catching fire opens today. it stars jennifer warren. it took in over $67 million in ticket sales

this latest story, brian, 1.6 billion of southward mortgage debt, freddie mac going after bank of america saying we want to you take back this paper, it has gone wrong, we think it was missold. those two sides are currently in negotiations over settlement on that story. it's good to know we're not irrelevant in tv land, in the dot-com age, brian. this is a fascinating story. google which owns youtube for some time has been avoiding those traditional measurements of view eer participation in th product. they are talkingnielsen. it looks like they can use those youtube bits of video that we enjoy. >> a way to keep nielsen relevant. there's very little you can do to get me off the couch on thanksgiving. maybe a little ipad shopping. black friday is almost a thing of the past now with what we got going on with thanksgiving. >> i think this is a phenomenal story. as an outsider you can tell from my accent i'm not an american. i'm puzzled as to why it should make any difference bring forward shopping days. surely there's enough places that americans can go to buy stuff and you talked about your

if you look at the profits, the third quarter profits for fannie mae and freddie mac were huge.we another $4 billion. we're saying only $4 billion but it was $189 billion bailout. that will be repaid by spring. folks are expecting to see significant reform. the investors don't want be to lose their investments and they want to take advantage of the opportunity. >> fair point, share ri. thanks for that. sherry is here from the carnegie group. gina, update on the fed? >> i completely agree that they have to do as little as they can to roughly t-- ruffle the feathers of the mortgage market. that will be the last instrument they taper. they will start with treasuries. >> okay. all right. take a pause. meanwhile, some of the other stories we're following. boeing is alerting airlines about possible engine icing problems on its 747-8 and 787 dreamliner jets. they're talking about planes with a g engine not flying near storms that may contain ice particles. they're pulling two 787 jets from service. boeing's also inviting more than a dozen sites to bid on where the new 777 x jet will be

fannie mae and freddie mac are closing in on paying back all the money owed to taxpayers from the 2008 bailout. the wall street journal reports.. fannie and freddie have recieved nearly $188 billion from the treasury through the bailout.combined-- the two will have made more than $185 billion in payments to the treasury by the end of the year.since the finanical collapse-- freddie has reported 8 straight quarters of profitablity.fannie has reported 7. its all about a room with a view. real estate site trulia ranked the latest luxury home building trends, and finds that it's actually what's on the outside that matters most. "we found that the trends that are actually moving up in terms of luxury listings are those that have to do with views. big windows, expansive views, and outdoor features like tennis courts. those are terms that are all trending up in luxury listings." that was jed kolko of trulia. he adds fewer homes are being constructed with extravgant kitchens, meaning fewer custom cabinets and granite countertops. formal dining and living rooms are also less popular. luxury is a

freddie mac and fannie mae were the last to jump into that circle of all that financial mess that went on. folks come on repeatedly, a lot of republicans sayingferent other ones, that fannie mae and freddie mac were the main reason why this financial mess -- you know, things like that just get you upset. the thinga bout it is you have the experts on c-span talking financial all that started, and fannie mae and freddie mac got on because they were forced to do something to get their little -- host: gotcha. we appreciate the input. if you wanted to go to our see -- videoa nd library and see what we have done with regards to fannie mae and freddie mac, type in these topics. not only will you find out what happened congressionally but you will get it best opinion we have, talking about that topic and a variety of other topics. there is our website. you can ask that. a picture first lady michelle obama this morning. about a new role she takes on today. in her new project, mrs. obama will work with the education department -- here is karl from berkeley springs, west virginia, republican line

the fine sums up losses that fannie mae and freddie mac incurred from countrywide's -- which is owned by bofa. "also" bank of america is asking a federal court to throw out two lawsuits that accuse the bank of fraud. the suit was filed by the sec and justice department this summer. bofa argues it informed investors of the risks they faced by buying the securities. a number of banks including jp morgan chase reportedly are considering banning traders from electronic chat rooms. the wall street journal says large banks are considering blocking employees from computer chat rooms as the scrutiny grows over ways traders could potentially maniuplate the market. computer chat rooms allow traders to communicate with each other and clients. its "the end" for a controversial book. publisher simon and schuster is halting the release of a new book in light of a flawed 60 minutes report. the book "the embassy house" was written by now discredited source dylan davies. davies appeared in a 60 minutes report detailing his account of an american mission in bengahzi libya. however, it was later found d

the us department of justice wants $863 million for mortgage losses that fannie mae and freddie mac incurred from buying bad loans from countrywide in 2007 and 2008. the agency says countrywide - which b of a bought in 2008 - rewarded employees for the quantity of loans sold in process called "the hustle"bank of america says the government could not prove losses came from the loans. it's payday for a major high- interest lender. the consumer financial protection bureau is accusing cash america, owner of u-s pawn shops and payday lending ships, of"robo-signing" documents, issuing improperly high loans to military members, and destroying records.more than 14,000 ohio consumers targeted in debt-collection lawsuits from 2008 to jan. 2013 were affected.cash america is cooperating and will pay $19 million.it's also required to strengthen its legal compliance procedures. private companies are being invited to bid on the chance to destroy syria's stockpile of toxic agents and chemicals. the unprecedentant move follows the august 21st chemical weapons attack on a damascus suburb that killed hundreds

a jury last month found the bank liable for defrauding fannie mae and freddie mac. >>> amazon customersill soon be getting delivery seven days a week. the online retailer has made a deal with the postal service to deliver on sundays. the deal provided some much-needed revenue for the postal service. >>> early bird bargain hunters can now mark their calendars to hit those stores kicking off black friday a day early. toys "r" us will open their doors on thanksgiving day. best buy, 6:00 p.m. and target opens at 8:00 p.m. >>> finally, it was "thor's" weekend at the box office. the flick destroyed the competition in the first week of release. it earned over 86 million bucks. jackass presents "bad grandpa" was second. $11.3 million. and the animated "free birds" was third with just about the same amount of money. >> hang on to your nuggets. did you see that? >> hang on to your nuggets. >> when we come back, a falling satellite makes a return. a big mystery remains. >>> and a "play of the day" that is amazing for two reasons. the quarterback trick and who this young player is related to. i had

bank of america was found guilty of selling defective mortgages to fannie mae and freddie mac but the bank said under applicable law it should have to pay a million dollars at most in the husz l fraud case, in the hospital the $863 million that the justice department seeks. >> mobile ads and a boost in listeners helped pandora grow revenue by 50% and that's where we begin market focus. the company swung to a loss as it spent more on content sales and marketing and caused shares to fall initially. pandora closed the regular trading day at 29.68 up 4%. >>> fewer shipments and lower sales hurt perry ellis in the third quarter. the retailer posted a $3 million loss, more than expected. they blamed the numbers on weak customer spending but the forecast stayed in tack. shares rose to 15.4 2. >>> david ianhorn says he sees growth potential in the name. >> earnings will be better than people think. next year $3.50 a share, next year maybe 4. the stock is 19 something today and at that point if you get a reasonable multiple, not a market multiple but a non-market multiple that shows stability

last month a jury found bank of america liable for knowingly selling fannie mae and freddie mac thousandsbad loans during the housing boom. bank of america denied there was frad. >>> asian markets were higher as economic advisers waited for word from a meeting in beijing. tokyo's nikkei added more than 1%. hong kong's hang seng gain 1.5%. this week wall street will be paying particular attention to comments from the federal reserve. wall street will be watching for hints the fed will be scaling back its bond-buying stimulus program. last week the dow finished higher by 146 points and the nasdaq composite finished two points lower. the owner of a tesla electronic car said he'd buy another. it was the third tesla to catch fire after an accident. the ntsb is investigating. the doctor said the car protected him. the tesla stock lost nearly 22% of its value last week. >>> in china, the 11th day of the 11th month is not about veterans. it's about online shopping. it's about singles day, day singles engage in some online retail therapy. alibaba, china's biggest online retailer, projects close to

investor bill ackman is betting big on fannie mae and freddie mac. ackman's hedge fund pershing square is taking a nearly 10 percent stake in each of the mortgage finance giants.he is the latest investor to buy into the companies.pershing wants to discuss capital and business plans, after another offer this week by fairholme capital management. bruce berkowitz, fairholme's founder, wants to buy parts of the companies from the government and recapitalize them in a 52-billion dollar deal. moody's credit ratings agency is downgrading major banks. the agency says its because new rules under dodd frank make it less likely the banks will fail and the government will swoop in with a bailout. moody's lowered debt ratings by a notch to jp mrgan chase, goldman sachs, morgan stanley, and bank of new york mellon. moody's confirmed ratings for citigroup, bank of america, state street and wells fargo. moodys says all 8 banks are rated as investment grade and have a stable outlook. president obama is calling on his supporters today. following a rocky start to the m

fannie mae and freddie mac are on wall street's wishlist according to reports. hedge funds reportedly are hatching a plan to take control of large parts of the mortgage agencies to end a dispute wtih the treasury and speed housing finance reforms currently bogged down in congress. so far, reports say hedge funds interested include:claren road asset management, fairholme funds, gso capital partners, paulson & co and perry capital. investment group bain capital is making a second run at acquiring auto parts supplier t- i automotive. sources tell reuters-- bain is one of 3 private equity firms making a play for t-i and is willing to spend nearly $2 billion dollars.the parts supplers makes fuel tanks, braking and power train components for cars and trucks. there's big business, big oil and now big air.with the anti- trust settlement that allows the merger of american airlines with u-s airways, it means four airlines will control 87% of the commercial flights across the u-s. our cover story looks at what changes this most recent merger may bring. analysts say america

so -- or fannie mae and freddie mac.blicans will allow any democratic appointee to fill that role because they like the acting director. now there is a number of bills proposed to reform how those -- how fannie mae and freddie mac are regulated and to abolish them altogether. i'm curious as to whether anyone will really be appointed. >> they have been blocking filling this, so i don't think in this case the usual congressional courtesy rule is -- prevails. >> exactly. >> because republicans, especially with so much action going on, this is highly -- this role is so important because they write regulations dealing with home mortgages. i think you could even appoint anyone but a member of republican senator and it is not going to happen. >> the other -- we didn't get into this too much, let's say they did the nuclear option right now and obama could start getting his nominees through with simple majority votes, the issue is still that the republicans have basically decided in all of these to be unanimously opposed. and if

and fannie mae and freddie mac posting strong quarterly earnings. most began giants repay $29 million in taxpayer bailout money. >> and door tesla model car has caught fire, this time in tennessee, the fire was caused by a crash. >> two other model s cars have caught fire in last 5 years. one near seattle, the other in mexico. still to come, my two cents more, and a look at new trend of dna testing with the founder of 23 and me, when and if you should take advantage of the product to see if you are preexposed to chronic illness, and find out my results. >> secrets of your je genetic cn your home, coming up. [ male announcer ] 'tis the season of more. more shopping. more dining out. more traveling. and along with it, more identity theft. every time you pull out your credit card, shop online, or hit the road, you give thieves a chance to ruin your holiday. you can't be on the lookout 24/7. but lifelock can. protecting your identity, your bank accounts, even the equity in your home. when lifelock detects a threat to your identity within their network,

freddie mac. as well as to every day mom and pop pension funds and while the economy hurdled towards collapse j.p. morgan was new in bear stearns got rich while everyone else got stuck with crap loans that were destined to go under as matt taibbi pointed out in a recent article for rolling stone j.p. morgan's mortgage program was little more than a knee labrat take on any madoff style ponzi scheme the banks continued to buy these mortgages and throw them into the great hamburger machine turning them into securities that would in turn be bought by everyone from pension funds to fannie and freddie and then they pushed sales even harder to relying upon the influx of new buyers of these securities to keep the value of the old securities stable this is exactly what bernie madoff did using cash from new investors to pay off the old investors the justice department's record breaking settlement announced on tuesday doesn't say anything about this j.p. morgan will likely never have to take actual responsib

found bank of america liable for knowingly selling thousands of bad home loans to fannie mae and freddy mac between august of 200 and may of 200. bank of america dies there was fraud. >>> hundreds gathered outside of san francisco city hall to protest remarks made by late- night talk show cost jimmy kimmel by china. some of the protesters in the large crowd holding signs saying "fire jimmy kimmel." the crowd is angry over a group that kimmel asked children how to solve the tradeipl imbalance with china and some boy said "kill everyone in china." kimmel and the network have both issued apologizes. >>> the highway patrol is issuing warnings about traffic through the new casino near rohnert park and now the chp is telling drivers to expect delays all weekend. they will have extra officers on duty to handle the congestion. >>> a north bay street is expected to re-open at midnight, following a day-long closure due to this downed power line. le highway patrol says the white suv struck the pole and flipped at rohnert park. the driver was arrested under suspicious of driving under the influence of

and an investment firm wants to own freddie mac and fannie mae. offering $52 billion to buy them. jamba juice chain is giving away a million smoothies to customer who's can pay with isis mobile wallet. it's a free smart phone app. >> i don't suppose it can help pay for college? >> just ahead, michael finney discovers a strat yi to help your child get through school without depth. stay with us. [ male announcer ] with at&t, you're sure to getet a better bundle. just choose the two, three, even four services you want to build a bundle that works for you. [ female announcer ] call at&t now. choose a u-verse triple play bundle for just $79 a month. get the same great price for two years guaranteed. plus, switch today and get a total home dvr included for life. [ male announcer ] with u-verse high speed internet, connect all your wi-fi enabled devices to your wireless gateway and save on smartphone and tablet data usage at home. and now, choose from internet speeds up to 45 megs. with u-verse tv, you can record up to four shows at once with a total home dvr and play them back in any ro

and an investment firm wants to own freddie mac and fannie mae. offering $52 billion to buy them. and jamba juice chain is giving away a million smoothies to customer who's can pay with isis mobile wallet. it's a free smart phone app. >> i don't suppose it can help pay for college? >> just ahead, michael finney discovers a strat yi to help your child to thosuffered in silence... hoped... and lived in a state of fear... welcome to a new state... of health. welcome to covered california. the place to find quality, affordable coverage. financial help for those in need. and nobody can be denied because of a pre-existing condition. enroll now at coveredca.com or call 800-675-2607. >>> millions of high school seniors busy filling out college applications for next year. getting into the dream school isn't the only hurdle.. >> i a report shows college students are deeper in debt than ever before. a record $1 trillion but there is a way for students to stay out of debt. >> this is pretty remarkable. >>> back in the day you'd go to college, making you set for life. now, colleges are likely

couldn't get through congress. 9 billion to various government organizations including fannie mae and freddie mac. now some of it will go to some departments and agencies. the fdic, state attorneys general. five or six of them. every one is a democrat. they get money. don't ask me why. i just want to say this. in my opinion, even though mistakes were made, this is basically targeting jpmorgan, number one, knocking it down a peg and number two, jamie dimon who was very critical of obama regulations, particularly the dodd frank bill for several years. i think we have not forgiven jamie dimon on that. i'm sure mistakes were made but you know what, a lot of this mortgage-backed paper looked awfully good when housing was in a boom and it looked awfully bad when housing went bust. i don't think that's breaking the law. if there were infractions, tell us the metrics. to get this all across. get money but they couldn't get out of congress. give money to the attorneys general. organizers, community organizers are going to get money under the guise neighborhood works. they're going to get money to do what?

liz: looking at the activist darlings like fedex like carl icahn fannie mae or freddie mac what defines names? >> those include time warner and bite you has been a popular name but there has been a resurgence. >> quickly the us fizzle stocks what does that mean it? >> former darlings we see quite a bit of selling pressure and apple has gone from the darling to a contrarian bet. liz: what we will do is play it every list up make sure you check it out thank deal. the closing bell rings and five minutes we will tell you what price line got quite a buzz -- the boost. stay tuned. ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] i'd be an architect. what if i told you someone could pay you and what if that person were you? ♪ when you think about it, isn't that what retirement should be, paying ourselves to do what we love? ♪ paying ourselves to do what we love? stick with innovation. stick with power. stick with technology. get the flexcare platinum. new from philips sonicare. and this park is the inside of your body.

capital is acquiring stakes of 10% in both government controlled mortgage giants fannie mae and freddie mactrong third quarter earnings. the new american airlines will trade on the nasdaq after the merger of us airways and amr's american is completed, the new ticker symbol will be aal. us airways trades on the new york stock exchange and before amr filed for bankruptcy protection it was on the big board too. >>> u.s. import prices declining in october, down .7 of 1%, duper drop than expected. u.s. export prices fellas month, half of 1% despite forecasts for a small rise. that is the latest from the fox business network, giving you the power to prosper. adam: more break breaking news. we have the official tally on the house approval. let's go right to rich edson in washington. >> 261-157, adam, more than votes to get through the house of representatives. the number we're looking at of 200 how democrats how many would join republicans to vote for the proposal. 39 of 200 democrats voting with republicans to send it to the senate where indication from democrats they will not take this up. it wa

mortgage buyer freddie mac says the average rate on a 30-year fixed loan, went from 4.1 to 4.16% the. >>> another model, tes la x caught fire. tes lasaid it caught fire because it dealt nobom bust spontaneously. shares of the next generation car are down by almost 5%. that's your money watch. for all of your business news, log onto cbsmoneywatch.com. at the new york stock exchange, i'm alison harmelin. >>> vetterance day is almost here. and there is a unique local program, designed to help vets and others. it's happening in south baltimore. ron matz has more on how art therapy is helping some men transform their lives in charm city. >> this one will probably take me another two weeks. >> reporter: mark jones used to do heroin. but through has artwork, he's finding his way. >> it put my mind at ease. puts me in the place where i'm happy. it relieves a lot of stress. >> reporter: mark is one of the 90 residents at the baltimore station. a place where veterans and the homeless can live. for up to two years. >> they find them out on the street. sort of trying to cope with reality. and we

. >> it's not just us, but we love our friends in freddie mac who have been there with us to make sures program continues. >> when the adopting families began to come forward to have their final decrees signed, among them were several children we featured on wednesday's child like two sets of twins all adopted by one family. >> jesus is god. >> family after family came forward surrounded by those who helped make this day possible. attorney, guardians and extended family members. the kids being adopted were the stars of the show. >> people who are being adopted, they should be great and happy. >> just like you, right? >> uh-huh. >> it's official. she's your mom now. >> the big moment for each child was when it was signed, sealed and delivered to happy new parents. >> the happiest day ever. >> is wonderful now. >> it wasn't just the parents who were over the moon. delante was in foster care for ten years. >> how are you feeling? >> i am feeling excellent, like riding on a rocket or something. >> there were smiles all-around on the faces of brand-new families. >> congratulations, everyone

that will make it possible for freddie mac to repay its debt. fannie may will have just -- 2 billion owed. >>> your cars tires may look brand new but they could be old and dangerous. ktvu news checked u.s. safety records. 4.5million tires were recalled but less than 1 million were recovered. darrell says he wishes he was told about the dangers of old tires three years ago. he was involved in a terrible crash. >> i think everyone needs to learn the age of their tires. i know it sounds strange and probably nobody has really given it much thought. >> there is a free tire fact app that will help you find out if your tires are safe. our channel 2 website ktvu.com we also have a link where you can check if your tires are safe. you will find it at ktvu.com. >>> it is 5:23. there is a special honor today for the first tsa officer killed in the line of duty. in 25 minutes the attribute that will help at airports across the country. >>> also a student at unlb turning heads. what makes him stand out from the thousands of other students on that campus. use

we saw it with fannie mae and freddie mac, amtrak, problems we just about eave enterprise, but we kept getting bigger and bigger as a government, whether at it the nsa or now this healthcare plan. if this fails it may push is back to more private sector resolutions to these things and that could be a good thing. >> i don't know. i had the architect of this plan on fox business tonight, and his premise is this, warts and all it's going to survive, and he cites other government initiatives like social security and medicare, that started out very clumsily and then it got streamlined and became engrained in our culture. that do you make of thatting are. ment? >> i don't like and it here's why. that is happening is the exact opposite what they said. young healthy people are not signing up because it's cheaper to pay the fine who is signing up? people who are not healthy and need the insurance so everybody's cost is going to go up. and what will help. they're going to start monkeying with the insurance company, maybe if the push to nationalize all of the heck care insure -- healthcare insura

freddie mac says the average rate on a 30 year fixed mortgage fell from 34.5% to 4 .22%. >>> and wal-martick off black friday deals today a week early. also starting today, the nation's largest retailer is offering free shipping for any online order of $35 or more. that matches amazon's shipping deal, and wal-mart announced cyber monday, which we know is the monday after thanksgiving. we'll actually start next saturday for them. and hardcore gamers waited in line in the cold for hours to be among the first to own the xbox 1. microsoft's next generation gaming system went on sale at midnight nationwide. the new console aims to be an all in one entertainment center connecting games, television and the internet. it also features improved voice recognition. the xbox 1 retails for about $500, 100 more than sony's ps4 which debuted last week. frank and michelle you need some deep pockets to buy those gaming consoles these days. >> i know, but it looks so cool. >> you can buy the old one. it's on sale. >> there you go. >> it is. i actually did that. i did that for my kids. >> you're a smart shop

and also if you go back to 2008 and that housing crisis, fanny and freddie mac and the government bailoutave started to pay the government back. that's reflected in the figure. >> auto sales. how did they fair last month given the government shutdown. >> it did have an effect. the back half was quite successful. particularly with trucks. you see one truck ad after another. full 60 seconds, very brand specific. the average transaction price for a full size truck is $39,000. they are more fuel efficient, quite luxurious. and brand advertising. that's important. because it's not just is targeting people purchasing trucks but a new generation of young boys. >> going bananas. >> if you look at the list, number one is sandwiches. that's interesting. it's number one for lunch and dinner. they count hamburgers and hot dogs in that. it is fast growing in breakfast. fruit. nutritionists would like to see vegetables in that place. it will have to be part of sandwiches to get there. this top 10 list dictates 50% of everything we eat. so if you are in the food industry what that means is the biggest f

the fha like fannie mae and freddie mac is paying a price for the activities of the real estate industry and the government involvement in real before and006 and after that. they are staggering out to what was the most significant we have experienced as the 1930's. that they areking looking for $1.7 billion in capital. if you believe the market is destined to do another massive downturn, you should be concerned that will never be reversed. and generations of experience on what fha shows two things. this is not cash. it is not cash going to merrill lynch or bank of america or any of the other financial institutions that receive a bailout in 2008. it is an accounting entry. a call fha sets we have on cash. an accounting entry if you look at the history has always been the opposite. as for most of his existence it has operated a surplus and funded important affordable housing programs. as we talk about a bailout, keep in mind it is not cash. thank you. >> the chair recognizes the gentleman from new jersey. >> thank you. herereciate you being today. i wish it was under happier circumstances.

committee and on the senate side and allowing the overleveraging, 100 to one by fannie mae and freddie mac. and when legislation was brought by me and others to the floor to try to allow the radio toward committee to control it, it was supposed by that side of the aisle. so there's a little bit of revisionist history going on. >> the gentleman's time has expired. the chair now recognizes the gentlelady from ohio, ms. beatty, for five minutes. >> thank you, mr. chairman. thank you, ranking member. and begin to our witness. thank you for coming. before i have a few questions, let me just start by saying i think we have become all too comfortable with loudly interrupting and talking over our witnesses. and while that may sometimes be the way it appears that we operate, i think today we took it a little too far. faceless government worker, questioning your outlook service. so let me use the words that i was always taught, very powerful words, and that's i'm sorry but i join my colleagues senator cleaver and mr. himes for extending their apologies. because sometimes i think we forget when we ta

a jury found the banking giant liable for selling defective loans to fanny may and freddie mac through its subsidiary. it is going respond to the filing before the november 20th deadline. >>> four years after the recession florida's economy is recovering. its unemployment rate was high, but now it's 7%. as part of our series "champions of the economy", we visit a family business in miami that weathered the recession. >> this is a company where employee birthdays are celebrated. danny started his business in a bedroom 25 years ago. the company refurbishes hand-held barcode readers for ubs and starbucks has grown from 150 to 200 employees. >> i have to pinch myself. we are over 150 employees. we are trying to keep the small feeling. it gets harder. i don't know everything's first name back there any more like i used to. it's a mixed feeling. you have to grow so you give more. you can't know everything. >> many long-time employees view their co-worker as an extended family. >> i've been here for 15 years. this is part of my family. >> responsibility to his employees is one of the things w

liz: and you think that's in part because of fannie mae and freddie mac helping people buy homes? >> it's not just fannie mae and ginnie maes and fha, you'd have to put that in also -- liz: sure. >> it's that the government is willing to provide kind of an indirect subsidy. when the united states government wants to borrow, for 30 years they have to give you call protection. when an individual with a fico score of under 600 wants to go to borrow, with support they don't have to provide any call protection. and so the structure has induced people to believe that the way to accumulate wealth is to buy a house. now, if you look over a long period of time, the price of a omahas gone up 50% of the time and gone down 50% of the time. we're here at the cme conference where they've reduced transaction costs and hedging to less than one-tenth of 1%. but if you want to sell your house, it could cost you 10% between the brokage commissions, fixing it up, etc. so unfortunately today, period yang net worth in america is around 45,000. it's about 20% below greece. liz: that's crazy, i mean, 20%