you know, 40 yearsgo over 60% of high school students worked in the summer. today it's 40%. is the hardship? you know, look, if you look-- >> if you look, that's not the ca case. >> for the summer? >> ten years ago, look, let's get this microeconomically, gary b, i believe your daughter is going to be fine because she's going to work hard and education, and that's what it takes, and make it happen for yourself. >> i was going to-- quickly, jim, last word on this? >> well, things are different than they were, even 25 years go, 30 years ago when he graduated from college you could pretty much get a job going out of college and things are difference and the administraon hasn't made it easier with the class warfare and one side always being vilified and angry at the other side, but americans will get through this, we made it through the civil war, we made it through two world wars and we're almost halfway-- >> 9/11, world war ii >> we're going to-- >> and 20-year-old billionaires to get through it, it's great. >> and thanks guys and thanks to steve for joining us. >> my pleasure

different than it was for five yearsgo.ack then but you had to document, what you had to show the bank was very little. gerri: does much paperwork and analysis much. >> correct. now you have to do your diligence, verify improve your income, which was different for five years ago. gerri: things that and bankers are asking for, i can't get over it. really. i mean, the details, the minutia , proving it beyond a shadow of a doubt, some of this d come that i think, well, even a couple of years ago you were not district. what has happened in the marketplace? >> it is all about the buyback. no bank wants to all something that they cannot sell the they cannot sell-off to fannie mae or freddie mac for fha. they want to be a "loaded, even if they don't have plans to do so, they want to have the security in knowing that they could. to do such you need to deal to provide the package set the secondary market is looking for, so you talked about the minutia. the estimate is, but if you try to make loans, you need to be able to doub your e