at least as a with regard to t federal obligations represented by fannie mae and freddie mac. in a january 2010 cbo report, it was concled that fannie mae and freddie mac have effectively become government entities in the way that they arenow managed. and their operations should be included in the federal budget. do you agree with that cbo report in that context, in the context -- in other words, whether the debt oblations of fannie mae and freddie mac should be included in our federal budget? >> well, i'm not an accountant and i defer to those with better knowledge on that point, but i would justay that if you do that, of course, you would add the debt to the federal debt, but you would also have to offset that to some extent with the assets that the fannie and freddie holds. so whether you consolidate or whether you simply take as a charge the obligations that the government has to support fannie and freddie, you would still have the same net effect on the government's fiscal position overall. >> at a minimum it seems to me we ought to acknowledge the taxpayer is on the hook

on congress to phase out the government controlled home mortgage companies, fannie mae and freddie mac. the administration's plan calls for a sharp reduction in the government's role in the housing market. this hearing is little more than two and a half hours. [inaudible conversations] >> this hearing will come to order. in the interest of time, i will recognize three members -- three of our members for opening statements in the majority. and without objections, all members written statements will be made a part of the record. first the gentleman from new jersey, mr. kerry is recognized for four minutes. >> thank you, mr. chairman. i also want to thank you for your report. i have read it over at early and what might be a little light on some specifics in some areas and without a single concrete position on a way forward, i believe it does come to a number of conclusions that will be very helpful for members to grasp as we move forward to this debate. the first conclusion is the federal government housing policy played a leading role in the crisis of two dozen eight in the ongoing bailo

now you heard that right forget the white picket fence that fannie mae and freddie mac. used to provide the american dream is quickly turning into an american nightmare so what is it that caused the system to fail. from the middle west to the mideast and even up through greece the world rebellion seems to be spreading but will politics ever close the gap. and turning profit from protests does money trunk morals when it comes to public relations. good evening it's monday march seventh four pm here in washington d.c. i'm lucy catherine of fans you're watching our t.v. now when it comes to the american dream visions of the white picket fences are front and center but for decades those fences have been propped up by the government's largely through fannie mae and freddie mac. of course since taking on these enterprises in the wake of the housing crisis the federal government has now started back in ninety percent of u.s. mortgages but with new proposals on the table from the obama administration the message seems clear and it's not a good one apparently this country can no l

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their way of that was just a sense you heard that right the white picket fence fannie mae and freddie mac. used to provide the american dream is quickly turning into the american nightmare so what is the cause the system to fail. from the midwest to the mid east and even up through greece the world a billion seems to be spreading but will politics ever close the gap. and the fog of war has settled over the on going on rest in libya have reporters for exciting pictures played up the on rest in the name of a hot story. good evening it's monday march seventh eight pm here in washington d.c. i'm lucy catherine up and you're watching our t.v. and when it comes to the american dream visions of the white picket fences are front and center but for decades those fences have been propped up by the government largely through fannie mae and freddie mac. and since taking over these i'm just rises in the wake of the housing crisis the federal government is now grappling ninety percent of us mortgages but with new proposals from the obama administration the message by obama seems to be clear and that is

so we'll take a closer look at the new housing market and the dying roles of fannie mae and freddie mac. and some states are pushing for new regulations on voters details on what some voters are now going to have to show in the upcoming elections and i will ask if this is a sign of a republican war on voters in america we'll get to the bottom of that issue and a lot more in tonight's show but first let's move on to our top story. libya's future remains up in the air as violence and unrest persist and as pressure for some kind of u.s. reaction is ratcheted up rebel leaders continue to ask for assistance in the form

read voted to repeal glass steagall and he's correct this one the reasons why fannie mae and freddie mac. were able to enable these banks to write all the bad paper for instance that's why it's true yes or brock obama did inherit this horrible economy because what it was be cui to him by both parties on both in both chambers let you know the state how do we do it when you leave the homosexual i also like this as far as the whole penny may freddie mac. the issue here because even back in two thousand and five george bush said we have to start reforming what's going on. you know racism. and i was going to go out to deal with this and barney frank had been standing there waiting in line even then and one video no five he said i don't know if you agree with to fannie mae and freddie mac. my accent was not to say of any problem is that the reality you want to be able to propose legislation because i already party have been when he was in the minority party time could not put legislation out there without the majorities concept so they were not able to deal with that in the way that they shoul

we take that risk seriously and we need to look at that through fannie mae and freddie mac, looking at options like risks sharing or other legislative changes through fhfa photo of the sure fha is better prepared in the future to step then in this kind of role. >> would this be more likely others? >> i do think that if fha is the sole guarantor with va and usda plan a smaller role, but that they are the sole guarantor is particularly in the wake of a crisis, then there is certainly a risk that we take on a much larger footprint in the market then would happen under options two or three. that is something that we consider, and to work collaboratively with the committee to ensure that fha is prepared to take on a larger footprint in a crisis as we've done in this one. there are many issues. systems, around procurement, ensuring we have the ability to operate effectively and efficiency as we stepped up in a crisis, does the things that ought to be an essential part of what we're looking at as we consider reform to the gse's. >> senator shelby. >> secretary donovan, quoting your words, the

decades those fences have been propped up by the government largely through fannie mae and freddie mac. now since taking these enterprises over in the wake of the housing crisis the federal government is now backing the ninety percent of u.s. mortgages but with new proposals on the table by the obama administration the message seems clear but this country could no longer afford to prop up the middle class archies lawrence lister explains more on the story of. the american dream you know you better have a good year our program could be a bar room and provide for your family so we spoke about the way ticket and its traditional vision of homeownership central to living the dream like the many people we live in the faberge which is turned into a nightmare for millions of americans who've lost their homes to foreclosure. or our faith in it now people like retired corrections officer saw she didn't want to show her face because of this horrible problem to be facing foreclosure you have a family you have your children we try to keep things stabilize for them but she feels helpless in the figh

decades those fences have been propped up by the government largely through fannie mae and freddie mac. now since taking over these emperor to enterprises in the wake of the housing crisis the federal government is now backing ninety per cent of u.s. mortgages but with new proposals the message of the obama administration is sending seems clear this country can no longer afford to prop up the middle class lester explains. the american dream. to be a bar home and provide for your family so we saw by the way picket fence it's that traditional vision of homeownership central to living the dream like the many people we have in the faberge which is turned into a nightmare for millions of americans who've lost their homes to foreclosure or are facing it now people like retired directions officers contract she didn't want to show her face because of this it's a horrible feeling. in foreclosure you have a family you have children you try to keep things stabilize for them but she feels helpless in the fight against losing their home i think she's in because of a dispute with the banks over the

unlike fannie mae, freddie mac, lehman brothers, bear stearns, and a list goes on. including bond issuers mbia, etc. in congressional testimony after the release of the report, secretary geithner observed that simply emanatineliminating too o fail and substituting a private financing system that shifts the rest from fannie and freddie to major banks will not accomplish what we're trying to accomplish because the taxpayers will be at risk for too big to fail banks that have the implicit guarantee the taxpayer backed by the taxpayer an explicit guarantee. we addressed this had on. compared to frannifannie and fr, banks have larger cushions. they are far more diversified and we have the benefit that we are focusing on the mortgage sector on prime loans and therefore, that will reduce the risk the banks have off the top. secondly, we envisioned a larger role for the market system for securitization involving only prime loans and for banks. the banks will not be the repository of in terms of whole loans more than they are doing today. they can buy mortgage-backed securit

the american dream that should change but if we privatized if we get rid of fannie mae and freddie mac. and we don't have the government's basically financing the purchase of homes that doesn't mean that people are going to be able to buy homes it doesn't mean that the rates of our mortgages are going to go skyrocketing high what it means is that it's going to be a little bit more expensive to buy a home and it means that you're not going to buy a home until you can afford to buy a home and during the housing bubble we didn't see homeownership rates rise we just saw it really cheap kweisi i rented it because the homeownership rates are now where they were in the one thousand nine hundred ninety s. all those people who didn't buy homes who thought that they you know had become homeowners that have now lost their homes they don't have any equity and so they're put into their homes they didn't really ever own their homes and so simply by getting rid of fannie mae and freddie mac. what we do is we say when you actually buy a home you're really going to be a homeowner you've actually achiev

in effect, the bailout of fannie mae and freddie mac permitted t.a.r.p. recipients to monetize their gse guaranteed prices above what they would have received without the guarantees and used the proceeds to pay their obligations outstanding and under t.a.r.p.. there by arguably shifting a greater portion of the t.a.r.p. from the recipients themselves, to the taxpayers. costs such as this should be thoroughly considered when evaluating the t.a.r.p. after reflecting upon the analysis conducted by the panel, its individual members and panel staff over the past two years, it is all but clear that the success or failure of the t.a.r.p. remains an open question, and that neither a favorable adjustment to the subsidy rate, nor repayment of the t.a.r.p. funds buy some recipients tells the entire story. it is critical to note although t.a.r.p. played a need for role in the rescue of the u.s. economy, during the closing days of 2008, its enduring legacy may have been to codify the guarantees of the too big to fail, notwithstanding the moral hazard risk arising from

mac gets the layup and we went to overtime. then it was mac again in ot. the big shot to give the bulldogs the lead. butler going to the final four for the second straight year. sharks and coyotes. game tied until jumbo joe. off the rebound. little joe scores, they go on to win 4-1. tim lincecum got rocked against the reds. tagged for a three run jack. six runs in five innings. giants won the game. what's wrong with the giants pitching staff right now? well, we have an update. stanford women in a very close game. the stanford women nearly shocked. they pulled it out against north carolina. by seven points. wow. >> more at 11:00 on cbs 5. that's it for us. have a good night. ,, you want to get a great looking lawn like this, but trying to grow grass from seed in tough areas like deep shade, along the driveway, and where the kids play can be a little intimidating... until now. with scotts ez seed. it's scotts best grass seed, starter fertilizer and a growing material that absorbs water and expands to surround and protect the seeds, you'll get a thick, green

mac clothing, which has been a stalwart of the neighborhood, will be moving into the same building. i appreciate your consideration and just wanted to introduce myself. supervisor avalos: great. thank you. thank you for coming in today as well. looking at the process and the neighborhood outreach you have done and support the neighborhood, it is well noted. thank you. >> thank you. any other questions for me? ok. supervisor avalos: if there are no other members of the public who would like to comment -- oh. >> i'm from the dog that neighborhood association, and i just wanted to reiterate the out reach that mr. garcia did. our organization has about 250 people. it is a wonderful thing to see pioneer's want to come into our little neighborhood and bring in retail when there is not a lot of retail there. we are just extremely excited to have this and other businesses come to the neighborhood. thanks. >> good morning. i'm associated with this whole building project, which has been a restoration of the historic building for the owners who have owned this for about 80 years. as we have re

recently announced plans to reform the mortgage market and shut down bankrupt fannie mae and freddie mac. the proposal reduces the governments role in mortgage finance, and has been warmly received by republicans. but if adopted too soon or implemented too quickly, it may cut short our tentative housing recovery. after bumping along the bottom for the past two years, home sales have only recently improved without the support of generous tax incentives, and continuing this momentum is critical to the broader economic recovery. rising house prices will lift wealth and spending while also trimming bank losses and encouraging lending. and since the government now insures or guarantees practically every mortgage originated, a hasty government pullback presents serious risks. the administration acknowledges the need to go slow, of course, but its arguably already moving too fast. for example, the insurance premiums and fees on new mortgages are far higher than they used to be. but with home prices so low, the risk of falling prices and rising defaults is almost certainly lower than usual. that

tavis: that's why this year is the year of the mac. that's why we have the return of the mac. the movie that he is in with matt damon is called "the adjustment bureau." he got two or three things out there. just google anthony mackie. you'll see all the stuff he is doing. take care of yourself. that's our show for tonight. thanks for tuning in. until next time, keep the faith. >> for more information on today's show, visit tavis smiley at pbs.org tavis: hi, i'm tavis smiley. joinmy me next time with best selling author susan jacoby on how american deals with a booming aging population. that's next time. see you then. >> all i know is his name is james, and he needs extra help with his reading. >> i am james. >> yes. >> to everyone making a difference, >> thank you. >> you help us all live better. >> nationwide insurance supports tavis smiley. with every question and every answer, nationwide insurance working with tavis to help improve financial literacy one conversation at a time. nationwide is on your side. >> and by contributions to your pbs station from viewers like you. th

the loans fannie mae and freddie mac are buying are so bad.le, four months ago a lender came to me to get documents and was telling me to hurry up and that we had to get this. it had four loans with no payments to be made. there were no payments scheduled for these loans. i found out that my own personal home mortgage had been sold to freddie mac. this problem is not being fixed. everyone is drowning. guest: that is exactly what we just talked about. there is a policy that emanates from washington, d.c. that says to be aggressive and saturate the market place with currency to buy homes, pushing servicers to engage in these abhorrent practices. i think that that is a fair question that the person brings up. what responsibility, what role do fannie mae and freddie mac have in this discussion? these folks we are talking to were simply servicing the notes. obviously, in certain instances that was done in a fashion that was problematic. this process through the folks that own the paper to the servicers and, ultimately, the consumer, we need to look

up homeownership in the country by keeping money flowing to mortgage lenders fannie mae and freddie mac. you may recall them from the financial crisis when their losses led the u.s. government to bail them out to the tune of one hundred fifty billion dollars here in the working class neighborhood of jamaica just outside new york city you can really see what some of those losses from the housing crisis look like this two family home for example before the crisis sold for just over six hundred fifty thousand dollars now not too long ago at a foreclosure auction one hundred seventy five thousand dollars of that debt was auctioned for just two thousand dollars and with the government in control of fannie and freddie american taxpayers stand behind six trillion dollars in mortgage debt now the government says it has to get out we need to wind down fannie and freddie and substantially reduce the governments for print in the housing markets it's a departure from past government policies which have treated homeownership as a virtual right in a report to congress now the obama administration say

on the concourse to phase out the government's control of homeland companies fannie mae and freddie mac. the administration's plan calls for a sharp reduction in the government's role in the housing market. this hearing is a little more than two and a half hours. >> this hearing will come to order. in the interest of time, i will recognize three members -- triet the members for opening statements in the majority come and without objections, all members written statements will be made it part of the record. first, the gentleman from new jersey is recognized for four minutes. >> thank you mr. chairman. -- before mr. secretary and i want to thank you for your report entitled america's housing market. i read it thoroughly and while it might be a little light on some specifics in some areas and without a single concrete position on a way for word i believe it does come to a number of conclusions the will be very helpful for members to grasp as we move forward with the state. the first conclusion is that the federal government housing policy did play a significant leading role in the financia

are not able to buy a home ever in their lives it's not going to be because fannie mae and freddie mac. own existence. it's not going to be because i will say it is not opening as a goal it's to support basically investors on wall street financing american homes . there certainly are going to be individuals that may never own a home that's maybe that's good maybe that's but it's appends and really where you live you may never be able to own a home in washington d.c. but if you really want to own a home you can move in work homes are a lot cheaper and you can be a homeowner there certainly are going to be markets where that may be the case but just because we have a private private market for financing those homes i think it's really interesting what the whole process is that doesn't mean that you'll never you know we're going to be able to hope they're still going to be money out there so you're still going to be like it was your survival of the fittest obviously not everyone you're not going to you know. given your well i definitely you know it's i think it's something that's going to

>> again, not to fannie mae and freddie mac -- >> what do you think? >> in our view, this is very much a question for the financial stability oversight committee. as you have noted, this situation involves various financial market participants as well as regulators, and we believe this is something that should be a question for them. >> what is the fed's view of this? >> this is not an area of my expertise in. >> fair enough. it sounds like no one is saying -- with the exception ofmr. lawler because his client has unlimited checks from treasury, that the answer is simply on certain. let me ask one final question. if you had to do this all over again and you were back in 2008, would you do anything differently? would you have different programs? what would you tweak in some way? mr. cave? >> from our perspective the tlgp program has been a success and has done what it was intended to do, on locking credit markets. what was happening prior to the crisishere the balance sheet liabilities were getting shorter, funding was getting more complicated, and so,

the big macs or popcorn? curious your preference?uivalent is the equivalent of that i would probably go for the hamburgers. >> you can get a big mac combo meal, medium fries, drink and the big mac it's 330 calories less than this popcorn. can you believe it? >> too much. don't want to know about it. taryn, thank you. we'll be right back. this is "the early show" here on cbs. >> "cbs healthwatch" sponsored by advil. make the switch to advil now. ee are switching from tylenol to advil. here's one story. my name is betty and i am an animal lover who does rescue. being a foster parent for dogs is very grueling. washing them -- it causes a lot of strain on my lower back. i used to take tylenol, and now i take advil and it works quickly and it takes away my pains. [ male announcer ] make the switch. take action. take advil. save on advil with our special coupon in select newspapers on march 27th. saever seen anything with oulikeme neither.n it's beneful incredibites. made with wholesome grains, real beef, even carrots and peas. you love th

in effect, the bailout of fannie mae and freddie mac prevented tarp recipients to monetize what they would have received and use the proceeds to pay that which was outstanding. costs such as this should be thoughtfully considered when evaluated need tarp. -- when evaluating the tarp. it is also clear that the success or failure of the tarp remains an open question. neither a favorable adjustment to the cbo subsidy rate nor the repayment of the top funds by some recipients tells the entire story. it is critical to note that all of the tarp play a meaningful role in the u.s. economy. its enduring legacy may have been to codify the implicit guarantee of the too-big-to- fail. the tar, in essence, reinforced the bubble bailout cycle as the government's preferred business cycle. along these lines, "the government's actions in rescuing a ig continues to have a poisonous effect on the marketplace by providing a complete rescue that called for no shared sacrifice among aig's creditors. the federal reserve and treasury fundamentally changed the relationship between the government and the count

i would expect us that the guarantees provided by fannie mae and freddie mac are wound down and that mortgages will be viewed as riskier for purposes of capital standards. but how would you expect mortgages and mortgage related securities to be viewed for risk rating and capital standards under basel under the administration's reports? >> my only view is that the capital the require banks to hold against risks should be the same under all of those options. i would not alter them based on the option that we come to based on the simple proposition that would ever risks banks hold, we went to make sure they are required to vote more capital against them. the standards should apply regardless of the options that congress shoot -- chooses. >> with higher capital requirements, would you believe the comparative cost to consumers will be for a 30-year fixed-rate mortgage under these plans? >> it is important recognize that the cost of a mortgage will rise for the american people, modestly we believe, but reasonable. any person looking at the options would see that the cost for a 30-year fixe

the white house is calling for an overhaul of fannie mae and freddy mac.hey guarantee or own half of all mortgages in the united states and it nearly collapsed in 2008. the treasury secretary goes before a house committee tomorrow asking congress to approve the overhaul. >>> temperatures dropping into the 30s and 40s. however the big story is the wet weather. expected to set in tomorrow. details and the timing coming up. this is your captain speaking, we are fourteenth in line for take off. beep, beep, beep. looks like its bumper to bumper on the interstate. i gotta get to cleveland! should have skipped that second soda. remove your belt, your watch, your shoes. i wonder what gas costs today. seven dollars for a pillow! an extra bag costs what? i hate traffic! (train child) the train is now arriving. (announcer) the train has arrived indeed. amtrack. enjoy the journey. >>> i am going to start riding my bike. >> reaction to the latest hikes is at the pump. edging up over $4 a gallon. gasoline is now at least 23% more expensive than a year ago. it is not the

>> or a mac refinery-- >> with libyan troubles on going, and 13 st. the increases. the record high, consumers are wondering when with a pained at the pump give way? with some new problems. a fact that americans are experiencing a sharp rise in prices of the gas pump. the family budget and 1/2 and iii that for closely. >> some are looking for a strategic oil reserve from president obama to policpress te price down. >> we are in discussions with the oil producing companies about the various options that are available. on a global system to do with a major disruption if that occur. >>reporter: wind should we report wind? the price? >> and zz $4, is an easy prediction. and i would not even be surprised at $5. and then, impressive economic impact. >>reporter: already feeling that. >> hurting bad. >>reporter: lanshallshell the shelby. >>pam: airlines? >> southwest is increasing fares by $10. citing the need to offset higher fuel prices. delta started this price increase last week. raising them as much as $20. others like americans followed suit with a $10 hike. the low-co

today fannie mae and freddie mac did the entire market.e would have more serious consequences in the financial markets. we are wrestling with an issue that has come up repeatedly. how do we provide support for the housing market without risking taxpayers and the stability of the financial system? that is not an easy challenge. that is one must accept. looking back, it is many aspects of that bill. >> does anyone lie -- would anyone else like to make a very brief statement? yes.s we have to walk before we can run. this crisis must be in our priorities. thank you for acknowledging debt problem in your testimony. policy matters. in 15as the bears' time years that we have not had more foreclosures than the year before. we have increased the number of foreclosures every year for 14 years. you know what that does to neighborhoods. many suspended their foreclosure filings. 400,000 ohio once and still under water. you know what that means. i disagree with some of my colleagues to bring this on fair lending laws. unlike other states, the causes wer

in effect, the bailout of fannie mae and freddie mac permitted t.a.r.p. recipients to monetize their gse guaranteed prices above what they would have received without the guarantees and used the proceeds to pay their obligations outstanding and under t.a.r.p.. there by arguably shifting a greater portion of the t.a.r.p. from the recipients themselves, to the taxpayers. costs such as this should be thoroughly considered when evaluating the t.a.r.p. after reflecting upon the analysis conducted by the panel, its individual members and panel staff over the past two years, it is all but clear that the success or failure of the t.a.r.p. remains an open question, and that neither a favorable adjustment to the subsidy rate, nor repayment of the t.a.r.p. funds buy some recipients tells the entire story. it is critical to note although t.a.r.p. played a need for role in the rescue of the u.s. economy, during the closing days of 2008, its enduring legacy may have been to codify the guarantees of the too big to fail, notwithstanding the moral hazard risk arising from

ten-mac that is the worst thing that can happen. we were at a church and the worst areas, and we found a guy that we were looking for, there was a pastor and his wife freezing without anything at all. what concerns us now is that with this concern about the nuclear situation, the little help will be cut off. >>: how the church is responding? >>:, they are working together really hard, we meet once or twice a day to compile which churches need to be visited and which refugee centers need to be held and different teams have gone out and we have been able to get in touch with all of the churches so no one is unaccountable; out of 30 people in the church, without we visited yesterday. only five have been located; the situation is beyond the control of the people here, an american carrier showed up and we are not seeing any help, it is really bad. we were at the gas station trying to fill out and they told us they did not have enough gas for the police cars little knots in the worst possible thing would be for the world to pull back beca

sheldon mac exploding to the rim. we go to overtime. in o. t. bulldogs down 1. mac 3 of his 27. butler up 2. final moments gator down 3 and irvin walker for the tie! no good. 8 seeded butler headed to huston. to the final four after the 74-71 win over florida. high school boys division. the third quarter here spartans in control over matter day. matter day roars back. david brown denies him. matter day wins the state title, mater dei wins. >> and yellowjackets trailed by as many as 16. in the fourth they battle abc news. davis for three. berkely within 5. the nation's top-ranked team was too much. lewis. the future uconn husky. the dagger from deep. mater dei wins the women's state title 59-47. only stephen games left in the regular season. the sharks and coyotes trying to improve their spots in the west. a face-off in phoenix. this guy taking coyote fan itdom to a new level. nice has. off the shot and the rebound. his fourth goal in the last seven games. 1-0, sharks. second, game tied at 1. pavelski to thornton, his shot off the post. pavelski is there to bury it. 2 hitch 1, sa

mac from deep. he had 27. gators down three, and walker for the tie. ain't gonna happen. eighth seed butler is heading to houston after the victory over florida. also in the west region, arizona and uconn, and uconn holds on for a 65-63 victory. >>> high school boys basketball state championships in sacramento. division 3, -- shop -- bishop falls. as for the girls in the division 3 championship, bishop comes up short against st. joseph, and in division 4, st. marys of berkeley drops one. a tough day for northern california teams. >> the giants are almost home returning to at&t park for the bay bridge series against the a's. today they wind down cactus league action. sporting an 18-11 spring training record. giants strike first. pat burrell finds a hole. tim lincecum did not have his best stuff. fred lewis, see ya. 4-1 reds. at the bottom of the frame. for rex drives one deep to left. it's in the shade so he thinks he just tied the game with a homer. it was actually off the wall. torres in his home run trot. gets picked off at third. the giants go on to the victory. >> may

sheldon mac explode together rim. we go to overtime. in o. t. bulldogs down 1. mac 3 of his 27.ler up 2. final moments gator down 3 and irvin walker for the tie! no good. 8 seeded butler headed to huston. the final after the 74-71 win over florida. >>> high school boys division. the third quarter here spartans in control. the trey. david brown, the nice tag. they win the state title 43-36. >>> girls division i championship. yellowjackets trailed by 16. in the fourth they battle back. davis for three and berkely within 5. the nation's top-ranked team was too much. lewis, the future of uconn husky, the dagger from deep. they win 59-47. >>> the sharks and coyotes trying to improve their third and fourth spots in the west with a little face-off in phoenix. this guy taking coyote fandom to a new level. nice hat. the close shot. logan for the rebounds. his fourth goal in the last 7 games. 1-0, sharks. second, game tied at 1. to joe. pavelski to thornton. his shot off the post. pavelski is there to bury it. 2-1, san jose. then in the third now 3-1 and mr. there. he goes top shelf. seco

and mac and home we set up the illusion, putting store brand products in the name brand packages.cking them? >> no. >> reporter: in a recent study, 54% of consumers said they're buying more store brands. and in the latest consumer reports tasteoff, generics often scored at least as good as name brands. >> people are catching on. they're getting wise to the fact that store brands can be a cost effective alternative without compromising on quality. so it's a great way to save money and, heck, you might like the product, too. >> reporter: a week after secretly switching their favorite foods, we told the kaplan family they had been duped. what did you really notice? >> when i ate the turkey, i noticed it tasted different than my normal sandwich and it wasn't as good. >> i'm really particular with pmy peanut butter sandwich and tasted really different. it was dry p. >> i remember the oatmeal, it was really disgusting. >> reporter: kids don't mince words. especially when it comes to cookies. >> i took one bite and i put it down and threw it out. it was very bad. disgusting. >> reporter:

a panel of experts on the future of fannie mae and freddie mac. friday night on c-span, bloggers, writers, and activists from the middle east discussed their countries. they talk about changing the political system in egypt, iraq, iran, and saudi arabia. >> iran is really bad. this is one side of the coin. the other side is the darkest side. we lived in a very dark area. our studies have never been heard. we are very strong in terms of oil. we support the west with the oil. it is the homeland of is long. >> what's the summit from york city on friday night on c-span. -- what the summit from new york city finite on c-span. >> nearly 1500 middle and high school students entered documentaries on the famed "washington d.c. through our lance." on c- the winning videos span and meet the videos -- and meet the students who created them. >> next, a discussion on public education was sacramento mayor kevin johnson and former washington, d.c. schools chancellor michelle rhee. mr. johnson heads the education department's mayor advisory council. after leading

the white house is calling for an overhaul of fannie mae and freddy mac. they guarantee or own half of all mortgages in the united states and it nearly collapsed in 2008. the treasury secretary goes before a house committee tomorrow asking congress to approve the overhaul. >>> temperatures dropping into the 30s and 40s. however the big story is the wet weather. however the big story is the wet weather. expected to s[ man ] i was deciding what to do with my citi thankyou points when it happened... [ glass breaks ] ...again. ♪ [ child ] run! [ man ] first it was the mailbox, then my squirrel... and now, this. so i used my points to make a donation to get the park down the street built. when it finally opened, i also used my points for... car repair. [ male announcer ] use citi thankyou points for almost anything. and earn them fast with the new citi thankyou preferred card. what's your story? citi can help you write it. and earn them fast with the new citi thankyou preferred card. the forms, the math... uh, that one. but with free file from the irs, it can b

whether the -- though the casual visitor to san francisco mac theaters and blighted markets on market street, that it includes community-based organizations. if the we don't fully agree to the payroll expense tax exclusion in the central market ordinance, we share that same concerns about jobs, small business opportunities, micro enterprise, arts organizations, and a safety. insuring economic good for the whole city does not mean gentrification to the soma and tenderloin working-class families, immigrants and people of color who reside around the central market. we are really disappointed to hear twitter claims they are socially responsible but yet they don't want to talk to the community about how they're going to be socially responsible neighbors. on top of that, asking the city to provide tax breaks for them but also asking them to provide foot patrols and more muni lines -- where is the money coming from? those foot patrols will not be there for free. that is going to be coming out of the city. we need to make sure we stop this idea of a revitalization for corporations to stay in

you're either a mac or a pc. in the bay area, it comes down to starbucks or pete's. >> reporter: it's the classic story of david and go lie@. that little company, they are going to buy pete's coffee. this news may be a little hard to swallow. customers at the original pete's coffee shop at the corner walnut aren't your arrange coffee drinkers. >> it's dip and its rich and it has different levels of taste. >> the feeling of it coarsing through your veins. they drink only one kind of coffee, pete's. >> everything else isn't as good. >> it's the gold standard. >> reporter: it's a bay area tradition. many coffee people we spoke to belief that pete's coffee is not just your average cup of joe. if starbucks took over, their favorite drinks just wouldn't be the same. >> no, it can't be true. that would be terrible. >> patty and her daughter are visiting the bay area from kansas city, missouri. they get their pete's coffee shipped to them and they made a special trip to the original store. >> i've already been here once

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we had fannie mae and freddie mac for a very serious purpose.there are some problems with them, but they provide a very useful tool to put in the position that we are in. there are still problems facing minorities in the housing market. just the rush to bring in private capital, it causes a problem. it is not solve the problem of paying the cover shot. many of these are african- american. it may be because of their skin. we have problems on the income levels of individuals. now we have a problem with many of our returning soldiers, which is heartbreaking. they are coming home after fighting in the battlefields of iraq and afghanistan and they come back, and they are on the street. no matter what we do, bringing private capital in is not the insert. i want to stress the treasury into this administration and move with a very gentle eye on this and understand that in my review of your report, probably the best option, given the volatility of the situation that we are in, would be to look at option 3 as a base on which we can work. i think it has th

the mac they did through the freedman's bureau. they tried to do that. there are really poignant stories about little kids sitting next to grown people and everybody trying to read. but they tried to do, but knight riders, people would try to be teachers and a comma there was a lot of a backlash because they didn't want people -- they didn't want blacks and schools. and so, they deftly try to do that. the schools, the howard's. i mean, higher education, harvard university started by general howard and they tried to do that, but in lots of these little places they were not in control of all of this and certainly once the military leaves, education becomes really sketchy, even more sketchy for blacks during that time. so they tried, but there was a lot in violent opposition in many places. >> the lady on our left in the third row. >> windows johnson free his slaves were two d. free time? >> after they entered the war, they became free, not before then. he may have freed a couple before then, but not until her. >> what do you think johnson's argument that s

first, a forum on the future of fannie mae and freddie mac posted by the multi-cultural real-estate and policy conference. that group includes professional organizations for asian and hispanic realtors. our coverage on c-span3 begins at 9:00 a.m.. then on c-span at 10:00 a.m. eastern, the final hearing of the congressional oversight panel looking into tart's effect on security. members will hear from representatives of the treasury department, the fdic, and the federal reserve. >> this weekend on a booktv, reuben carter spent time in prison. he'll discuss that and his activist work. also, scott brown on his troubled childhood and rise to public political figure. get our schedules by e-mail. sign up for our booktv alert. >> health and human services secretary kathleen sebelius testified thursday on her department pottery 2012 budget request and the health care law. the house energy and commerce subcommittee on health is chaired by jim pitts. this is 2.5 hours. >> the chair recognizes himself for an opening statement. i would like to welcome our distinguished witnessed today, the hon. kat

geithner will tell a house committee the administration wants congress to overhaul fannie mae and freddie mac nation's troubled housing finance giant. finally, heidi," germany's cross-eyed celebrity possum came up one pig short of perfectly predicting the oscars in 127 hours to win best picture. pretty impressive, heidi. i love that. >>> coming up, nba drama. top ten college hoop battles, and a player giving up millions so he doesn't have to play for one team. >>> plus. the nets try to block out the sun in new jersey. your early morning sports headlines are straight ahead. >>> so much for in like a lion and out like a lamb. give that lion a pair of sunglasses. your tuesday forecast is coming up. you're watching "early today." >>> good morning. if you're just waking up, this is "early today." in sports, it's common to hear folks complain about professional athletes and their salaries these days. but the case of mike dippy is truly unique. here's nbc's fred rot(jru)u$ an early look at all your sports headlines. >>> good morning. you know a team is bad when a guy turns down millions to play for

the obama administration plans to resolve -- dissolve failing housing giant fannie mae and freddie mac warns that it has to be done gradually over the next several years. >>> the former director of goldman sachs and procter & gamble has been charged in the largest hedge fund insider trading probe ever. j. crew approved a sale of the firm. apple has decided to unveil its thinner, faster, and camera equipped i pad 2 today, but what's not so certain is whether the company's ailing ceo, steve jobs, will take part. >>> finally, a london council confiscated supplies of so-called baby gaga ice cream made from breast milk over potential health concerns. it was also selling out, even more frightening. coming up, a rare loss for the spurs. the great eight notches a winner, and trickery pays off in women's hoops. plus, the nation's number one team boasts a number one shooter from downtown. your early morning sports headlines are straight ahead. >> well, just because it's march, winter is not done yet. a shot of cold air heading for the middle of the country. your wednesday forecast is coming up.

. >> when they say who's the best team ever to come out of mac, it's going to be this year 2011. >> wehad a 12-0 season. >> in that team were 16 seniors who all plans of continuing their education, so far eight of six have been accepted. most of the young men have had major obstacles to overcome. >> i've had kids who have witnessed their siblings being murdered before them. >> a lot of my family members are local drug dealers around here, but i chose to go a different rout. >> when i got to mcclemmons stayed with the football team and that kept me out of the streets. kept me focused on grades. >> that unity helped keep this team on the rise. the team's average gpa is 3.1. now he wants to reward them with a prize. the prize, a letterman jacket. >> the letterman jackets talks about a lot of good things. >> i got a lot of patches but i never had a chance to get one. >> i always wanted the m right over my heart. >> if you have that black m on your letterman's jacket. that means you are maxed out and you bleed black. >> reporter: in an area where surviving is a struggling, it's hard to rais