and tonight, five men, one woman, millionaire mortgage bosses from fannie mae and freddie mack. abc's cecilia vega tells us why they were named first and why it took so long. >> reporter: good evening, diane. this suit is being called the most significant action taken so far against the executives at the center of this housing bust. for so many people, they are the symbol of everything that went wrong and for so many more, this is long overdue. no american escaped the pain of the financial collapse. and no american was ever held accountable until today. these six former executives at mortgage giants fannie mae and freddie mack were sued by the s.e.c., accused of misstatements and half truths, hiding just how many of those risky subprime mortgages they were holding. in some cases, by hundreds of billions of dollars. when the house of cards collapsed, the pain rippled throughout the economy. millions lost their homes, and taxpayers had to come up with $160 billion to bail out fannie and freddie. many families lost it all. >> i was collecting unemployment but unemployment just wasn

let me begin by saying that the freddie mack of today is a new company.we have a new management team. the management team running freddie mack today is not the one we had pre-conservatorship. for example, i became ceo in august 2009, almost a year after freddie mack entered conservatorship, and 17 of the 18 executives have been changed during my tenure. we have a new emphasis on strong credit standards. we focus on safety and soundness and responsible lending purchasing higher quality loans with lower loan to value ratios and higher credit scores. we have a new approach to expenses. we take seriously our obligation to reduce spending responsibly wherever possible. we project that by the end of 2011, we will have reduced annual, general, and administrative spending by more than $150 million below 2009 levels. we have a new approach to the retained portfolio. we reduced the size of the retained port portfolio by 25% which is beyond what is required of us. we have a new approach to executive salaries. we reduced overall compensation by 40% for the top 10% of

>>a>además dijo que con freddy mack pasó el dinero de los contribuyentes al candidato. ->>> algunos analistasor qué ha subido en popularidad, es porque se salió herman cain, porque al salir herman cain, la gente busca un nuevo candidato. >>> cuando el tema pasó a inmigración, el gobernador de texas dijo que la frontera sigue siendo peligrosa y que puede ser usada para los que quieren hacer daño. >>> como ejemplo citó la conexión de irán y venezuela, como recientemente reveló un documental de univisión. >>> de aquí al 3 de enero los precandidatos republicanos pasarán mucho tiempo en el estado, tratando de darle la mano al mayor numero de personas posibles. >>> el juez que lleva el caso de la universidad de penn state, dicen que dos asistentes podrían ir a juicio también, porque hay evidencia que mintieron después de la presunta investigación de la violación de un niño. >>> estrella futbolística de la universidad de penn state y es el testigo estrella del caso de violación de niños menores por parte de jerry sandusky, mike dijo que se sintió horrorizado al ver a jerry sandusky molestando a un n

eventually that freddie mack and cheese makes your fannie mae drop. i think he has got some problems here. he and rangel ought to go down to the caribbean two old war horses they are and check the we've diewcialt on low grade composition fabrics they use to make chase lounges. adios,. >> there is a lot there i'm just processing it all right now. it sounds to me you are not sad he is leaving. >> no. he is a great guy. billy. i'm missing him just because i loved you two locking antlers twice a year. >> bill: g.o.p. field obviously narrowing five weeks until iowa. and in those weeks you have got christmas, hanukkah, you have got new year's eve. going to be a lot of people diverted. it looks like it's gingrich against romney right now. >> yeah. i think you got a good call. if i had to say anybody who could come from weirdness because everybody seems to be coming way far from left field. i don't think santorum has done anything to hurt himself at this point. >> bill: you and i did a couple shows in richmond atlantic city. we both do politics on stage, it w

when romney dared him to return his freddie mack windfall gingrich responded by demanding that mist givek all of the money he's earned from his years at bing. that is a cute line if you're a 32-year-old transgender and colonialism trying to warm up drum circle at occupy wall street but it's very odd in the final stretch of a republican primary. at freddie mac newt was peddling influence to a quasi--governmental entity. at bing capital romney was risking private equity and private business enterprise. what sort of conservative would conflate the two? >> all right. >> would you consider that an attack? >> no. i think that is legitimate. >> just a basic question? >> but there is an awful lot of that going on out there. >> well yeah. it's just weird that -- i'm not sure where your emotion is coming from. >> well, but you notice he stole donny's word, gestault. >> he did. >> that's okay. >> you wrote a really important piece. >> why thank you for saying so, mika. >> you're welcome. it's true. that's why i'm saying it. >> okay. >> the fog of war continues over iraq. this is in politico. bush m