they're essentially in receivership with fifa, federal housing financial authority. we sent a letter to the head of fhfa and said you need to address this. we need the same kind of relief for those loans that fannie and freddie and now, in receivership, can be modified, can have principal reduction. we're working with california, new york, many of the other states in looking for that accountability for homeowners in our states. we work what our federal partners on. but ultimately we need the same resolution that we've gotten in massachusetts and now, with this agreement, to get relief for homeowners. that issue, i think, is a good one to ask your congressman, your senators, they are federally created and federally run and federally overseen. and the hands for -- the ways in which a resolution can be reached with them is probably going to have to be at the federal level. >> so that's the headline, after mortgage settlement fannie mae and freddie mac face renewed pressure on principal reduction. and let me add women's work usa. make no mistakes we want wall street croo

until the industry came under receivership. >> we go to one of the city's largest used textile markets. in tanzania, used clothing is called "mitumba" -- and the market is bursting at the seams with it. most of the "mitumba" comes from donations -- a lot of it from germany. >> some 20 years ago, we were able to produce this shirt material. but then, with the decline of the textile industry, most of this is no longer produced locally, the fabrics for shirt materials. >> the harbor of dar es salaam -- about 50 containers of used textiles arrive here each month. one of the containers is from soex. it's headed for the largest used textile dealer in tanzania -- a company called villa mar. >> yes, this is from soex. yes, these textiles are from germany, from soex. the quality is better than the rest. germans throw the clothes away, even though they're still good. that's why people here love the clothes, for more business here, to earn more money. >> we pay a visit to one of the country's last textile factories. godfrey mwendwa has known the manager for years. this is the production plant, bu

the county took over the center nine years ago when the state placed the previous owner under receivership because of the poor quality of care. this lease expires in june of next year and the health department which runs it has recommended that the supervisors not renew the lease. they say it is too costly. they are running it at an operating deficit of about nine million dollars a year. and the health department says the center is old and unsafe for the residents and staff. the residents who testified made emotional pleas asking the supervisors not to remove them. >> if burlingame were built today it would not be approved under the current code. >> i could go to a center. i could go to -- i just don't want to move. thank you. >> reporter: the supervisors are scheduled to vote on this lease at this meeting. but, they could also postpone it. the health department says if this center closes, if the supervisors decide not to renew the lease, they will move the seniors the patients in the centerer to facilities in this county and neighboring counties. -- also affected 200 workers they will all

the county took over the center nine years ago when the state placed the previous owner under receivership because of the poor quality of care. this lease expires in june of next year and the health department which runs it has recommended that the supervisors not renew the lease. they say it is too costly. they are running it at an operating deficit of about nine million dollars a year. and the health department says the center is old and unsafe for the residents and staff. the residts who testified made emotional pleas asking the supervisors not to remove them. >> if burlingame were built today it would not be approved under the current code. >> i could go to a center. i could go to -- i just don't want to move. thank you. >> reporter: the supervisors are scheduled to vote on this lease at this meeting. but, they could also postpone it. the health department says if this center closes, if the supervisors decide not to renew the lease, they will move the seniors the patients in the centerer to facilities in this county and neighboring counties. -- also affected 200 workers they will all b

. >> you need to be call out your police department is brutal on the doorstep of federal receivership. >> trying to build our neighborhoods up, you come and tearing our city apart man. >> the occupiers have become the 1% as far as i'm concerned. the 99% of us who live in oakland are being without city services including police. >> some former occupy oakland members say they are forming new groups focused on political action in forums rather than marches and demonstrations. >>> students at stanford on alert after two separate salts on campus the first attack happened early sunday morning a woman was tackled to the ground before she got away. a short time later a man crawled into a woman's bed in her dorm on campus drive. police say assaults by strangers are rare on this campus. they are trying to determine if the same person is responsible for both attacks. >> two locations are close to one another as are the times so it is possible. other than that it is purely conjecture. -- the descriptions are similar and yet not. >> both descriptions are of a man in his 20s. one victim described h

the action taken by receivership has nothing to do with the people's welfare. the government's. the people's best interests it's just doing what's in its own interests and the people don't trust the government the government had an option they could have just said no we're not going to accept these measures and will go to default and by the way there's no reason that a default has to equal an exit from the euro zone i don't see that that connection other people have made that point and that's used to to intimidate the population to scare them to say well if you don't succeed or accept these measures that are going to default i'm going to be pawns of the chaos of all the drachma hyperinflation disaster and. these are scare tactics because the people that are in power. our bent benefit from a system where they can cooperate with your kratz in brussels i don't believe anyone within their right mind would think that they'd be able to to to pay those debts back clearly there's an interest for the banks that are on the hook the european central bank has obviously bought a lot of that

prosperity and the cuts being pushed through in greece send the country into something like a receivership and are fairly savage in terms of their political impact their physical impact on the population and of course their political impact which we literally see alumina in the night sky in the form of burning buildings around the parliament every time one of these parliamentary push through votes x. you know pretty much yields to the pressure from the troika of the european commission the european central bank and the international monetary fund max how does the republican vision here in the united states of balanced budgets and cutting spending correlate with the greek austerity program. was pretty hard to imagine any government kind of imposing austerity program as harsh as the one being pushed on the greeks internally without an external pressure that being said i think we should be watching greece and to a large extent ireland which we talk about less than the u.k. which we talk about less even though they're less severe as the ghost of christmas future if we follow the sort of scroog

collapse he told them he was going to put them into receivership nobody else knew he told them also that lehman brothers would collapse so god forbid anybody believe that one of our dear leaders would ever do something like that it's not a process based on the fact that this couldn't possibly happen well this is what they love to happen it's like shock and awe countdown to the iraq invasion this winter planning a bank holiday because they know it's the model for countries going forward. portugal spain that they could have a countdown to a bank holiday to default i mean this is this is the game plan the wages in greece and pensions and all the benefits of taking five thousand years to accumulate are being wiped out in six months by paul mason's friends at the i.m.f. the troika lehman brothers and brother of bankers who are now out there on the street like rats doing all the little beginning and then one final headline a little positive note here emits the chaos happening in greece just as greece complies at last your pulls the plug now chronicles a whole bunch of chaos and awful stuff hap

instance, that we need the same kind of relief for those loans that fannie and freddie and now in receivership can be modified, can have principal reduction. we're working with california and the united states ask working with homeowners in those states. but we need ultimately to get

metropolitan city and howard jordan is now the permanent head of a department facing possible receivership from the federal government. serious under staffing and a battle with increasingly violent occupy demonstrators. >> there is no other time for us to demonstrate we're capable of policing this city in a manager in which the citizens expect. >> the appointment comes after 24 years and two stents as interim chief. presiding over funerals of four officers and last year, three days after replacing anthony bats, tests sprung up. >> i'm not going to say we're going to change our taxes because demonstrators show up and want to confront the police we have an obligation to protect ourselves and protect property in the city. >> reed comes to oakland from the san jose department as an assistant chief dealing with closures and layoffs of 40 firefighters. and there is a 22-year resident she knows well the challenges in this community. >> to change some of the mind sets of this is how we did it. because changes coming and we're going to have to look at how we're going tibl to involve with that. >> b

your police department is brutal on the doorstep of federal receivership. >> we are trying to build ourds up. you come and tearing our city apart. >> occupiers now have become the 1% as far as i'm concerned and the 99% of us who live in oakland are without city services including police. >>> some former occupy oakland members say they are forming new groups focused on political action and forums rather than marches and demonstrations. >>> in los angeles, an unprecedented response after two teachers at one school are charged with molestation. at a packed meeting of parents and school officials last night the superintendent announced he's replacing the entire staff of miramonte elementary school transfering them all. everyone from the janitor to the principal, effective this week. after teacher mark berndt was charged with commuting lewd acts on 23 children. days later another teacher martin springer was arrested. the superintendent says every student and staff member of the school is being interviewed. new teachers and staff members have been hired and screened. many parents say the kids

they can put them in receivership.y can start doing that immediately. >> isn't the problem if they put them in receiver shship it will force a debt restructuring that will seize up the big banks? >> ip don't see that happening. >> can i explain to you how it could happen? the big banks are pretending that the second liens are worth 80 cents on the dollar. when you start to restructure the first mortgage in the open market, you render the second liens 0, which annihilates the balance sheet. it's the same if you put swaps on exchanges. whether it's restructuring at fannie or the first lien in the bond market or my swaps market, the very reason none of these ideas ever happen is because if you were to do them, it would force a complete restructuring of wells fargo and bank of america because their entire business is based on the value of the second equity loans, all of which in a debt restructuring, are worthless. that seems to be the political issue. >> i wanted to ask the guest. when you talk about it being the fault of

it has struggled $5.5 billion in debt, elpida now in receivership or bankruptcy protection i should saystaying here in asia, switching to politics now is certainly a tense day in politics in australia where the prime minister julia gillard has convincingly defeated the leadership bid by the man she ousted from the prime ministership, kevin rudd. guillard won the leadership ballot 71-31 in a defeat that humiliated the former foreign minister. she now faces a tough task of uniting a fractured labor party. we have this report. >> reporter: for a second time, again, surrounded by a loving family, kevin rudd has had to concede defeat to julia gillard. >> i congratulate julia on her strong win today. >> reporter: the prime minister emerged from the leadership ballot today as she predicted. it wasn't even close. >> the ballot has now taken place. julia gillard has won the ballot 71 votes to 31. >> reporter: the ballot box might as well have been a coffin. the result was so emphatic kevin rudd was left a full 40 votes adrift. >> the leadership question is now determined. >> i accept fully the v

though the department could face possible receivership from the federal government. now, this comes as occupy demonstrators complain of heavy-handed tactics by police. january 28th, 400 were arrested. city hall was damaged. that was just the latest protest. and last night, the city council failed to approve increasing enforcement at occupy demonstrations. it needed five votes, and focused on the port, but could have also been used elsewhere. the state of the city address is at 7:00 tonight here at city hall and the doors open up at 6:30. reporting live in oakland, christie smith. jon and laura, back to you. >> thank you very much, christie. >>> 6:3 2 right now. gay rights advocates continue to separate after a federal appeals panel ruled prop 8 unconstitutional. the justices' majority opinion says the ban on gay marriage did nothing but quote, lessen the status and dignity of gays and lesbians in california. legal experts say, despite the ruling, the fight is far from over. >> the prop 8 backers would ask for a review by the entire ninth circuit. but then if that doe

basically like a receivership, the supervisor will have the aspect of the company and the supervisor of the daily operation. so, yeah, the final call will be made maybe this year but we'll still need to keep eyes on elpida. however, for sure, elpida is a chip maker and they need to have a big chunk of money every day and in and out, it happens every day. so if that happens with the supervisor, they should have like a problem with their daily operations, so in conclusion, having a hard time for sure and then it's highly likely for them to lose their competitiveness going forward. >> what are the chances of a white knight coming in? what are the chances of someone coming in, stepping into it and buying up elpida? >> yeah, that's because elpida maintains its -- and they are running right now and they are running. so as far as i know elpida is quite competitive and i think, i think toshiba and micro technology were global boundary or some new japanese semiconductor chip makers might be interested in a hiroshima plant. >> today we had the south korean chip makers rally today because they

they want to take over the sheriff's office and put me under some type of receivership. they will not do that with the elected sheriffs. i am not a chief of police. i am the elected sheriffs. i had about 250 tea party people to sign a petition. i do not know if we have the need here. so, they came to me and asked their sheriff to investigate obama and the birth certificate. so, what should i do? throw it in the wastebasket and forget it like everybody else in this country has done? once again, i take my elected service status very serious, and when the people ask me to do something, i try to do it regardless of the repercussions, the politics, and the media. [applause] >> so come on march 1, i will have a press conference and reveal what we found out during that investigation. [applause] >> and i do not have press conferences just to get my name on television. when i have a press conference, i talk about something. so, that is coming. i let people it. it is not a secret. when i took this mission and on, i took it on to possibly -- mission on, i took it on to possibly be

they want to take over the office and put me under some receivership.are not going to do that with an allotted share of. i am not the chief of police. i and the elected sheriff. i had 250 tea party people signing a petition. i did not know if we have any here. [applause] they came and asked me to investigate obama and the birth certificate. what should i do? throw it in the wastebasket and forget it like everybody else? i take my allotted status very seriously. when the people ask me to do something, i tried to do it, regardless of the repercussions. [applause] on march 1, i will have a press conference and reveal what we found out during that investigation. [applause] i do not have press conferences just to get my name on television. when i have a press conference, i talked about something. that is coming. i let people know it. it is not a secret. when i took this mission on, i took it on to be able to clear the president. i was doing him a favor. we will see what happens. i will go public on what we fund out on march 1. i have them coming from all dif

they want to take over the sheriff's office, put me under some receivership.will not do that with an elected sheriff. i am not a chief of police, i am an elected sheriff. [applause] i had about 250 t partyea party people signed a petition. they came to me and asked their share of to investigate obama and the birth certificate. so what should i do? throw it in the wastebasket or forget it like everybody else in this country has done? once again i take my elected sheriffs that is very seriously. when the people ask me to do something, i tried to do it regardless of the repercussions politics and the media. so on march 1, i will have a press conference and reveal what we found out during that investigation. and [applause] and i do not have press conferences just to get my name on television. when i have a press conference, i talk about something. so that is coming. i let people know it. it is not a secret. when i took this mission on, i took it on to possibly be able to clear the president. i was doing him a favor. we will see what happens. i will just go public