i'm glenn hubbard. >> tom: that's "nightly business report" for monday, july 11. i'm tom hudson. good night everyone and good night to you too, susie. >> susie: good night tom. i'm susie gharib. good night everyone. we hope to see all of you again tomorrow night. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >> be more. pbs.. i'm your new teacher, miss stacey. she could pass for a teacher or even go on to university. our anne. diana? my little sister's awful sick with the croup. i would have been too late... you saved this little baby's life. i knew matthew was up to some foolishness. don't you like it? doesn't gilbert look dashing tonight? i hadn't noticed him. i want to wish you all the luck in the world, anne.

so they started a series of papers where they would hire notable conservative economists like glenn hubbard, or progressive economists like joe stiglitz and peter orszag, to justify various aspects of fannie and freddie's mission, or dispel concerns about their safety and soundness. and really used those as lobbying points on capitol hill. >> reporter: we've posted the rest of the stiglitz response online. hubbard and orszag declined to respond on the record. >> reporter: in writing this book, what surprised you the most? >> we started the process of resolving the crisis talking about a troubled asset relief program, getting the troubled assets off the bank balances sheets. we haven't done that. most of these assets still sit on the bank balance sheets, most of them remain there at inflated values, and there's still no real interest in lifting the kimono so the public and investors have any real understanding of what it is they're invested in, or what the systemic risks are. >> reporter: but we don't want to lift the kimono, because then banks might have to write down their assets and we co